Deposits / Retainer Fee

[fionaholmes]

Hi girls,

I'm still waiting on registration coming through - I've had all the disclosuer checks back and sent all paperwork back to SCSWIS so hopefully things will move along speedily from here!!!! I have 2 potential clients who are looking to book their daughters in for only 1 day per week - one wants to start in January and one in March. My question is - should I take a deposit / retainer fee? How much should I charge and how does it all work? If I take both of them, I have reached my maximum of 3 children under 5 (including my own little boy) and I'm scared I miss out on a potential full timer.

Advice would be massively appreciated.

Thanks x

[Chatterbox Childcare]

You cannot take a retainer until you are registered as it is just that, a price to hold the place but as you don't have one you can't (that is muddly)

However I cannot see why you cannot take a deposit until your registration is complete but you will have to return it should you be refused by Ofsted.

As to 2 days the same I would try and get one of them to change

[jane5]

Ofsted will not allow you to take a deposit or retainer until you are registered and have your certificate as you are not allowed to sign any contracts until then.

If you sign up 2 families you will have only filled your under 5 space if they both come on the same day. You can take as many families on as you like as long as only 2 come at he same time plus your son. As Debbie said, see if you can get them to come on different days.

I thought about full timers when I first started but I quickly filled my spaces with part timers and I actually earn more this way because they pay slightly more for part time hours than full time hours.

I went on a first come first serve basis and it has worked out well

[danasdaycare]

Hi,

I charged 20% retainer fee but the going rate can be anything up to 50% of hours required I believe.

I was only able to afford that as still in office job until end of this year and had two part timers on other days.

Work out your finances and if you are all happy after initial visits etc (including explaining fee and that it is non refundable and payable in advance) and you think you will be ok money wise, go for it.

Means you can have wee 'rest' on days you are holding, as long as it is after your registration. My inspector was very firm that I wasn't advertising etc before certificate was issued to me.

Fingers crossed for speedy completion and hope it all goes well.

Dana

[winstonian]

In our area it seems very rare to get full timers. I have loads of part timers and have managed to move a few days and hours about so that they fit. Also (this hasnt happened yet to me but is worth thinking about) if you suddenly lose someone if its a full timer that is financially a lot worse that a part timer.
Good luck