Body & Soul4 mins ago
What would be a fair price increase?
5 Answers
I have been a childminder now for nearly a year. I am full and expecting my 2nd child in Dec/Jan for which I am only planning to take 2 weeks maternity leave.
From Feb 2010 I want to increase my prices as I am charging much less than anyone else is. Unfortunately I did charge the going rate of �3.50 per hour but reduced my fees after wrongly thinking this was why I wasn't full. I am fully qualified and have more than 12 yrs experience and a glowing Ofsted result so there is no reason why I should be so cheap! I currently charge �130 for a full time weekly place when others are charging at least �150. I can't suddenly up my price my �20 a week but would �10 a week be too much? I would appreciate parents opinions especially those who pay for childcare. Another thing is local nurseries charge loads more so parents wouldn't exactly be able to say they would go elsewhere as it would cost them even more. I need to charge more but don't want to upset the parents! Please help!
From Feb 2010 I want to increase my prices as I am charging much less than anyone else is. Unfortunately I did charge the going rate of �3.50 per hour but reduced my fees after wrongly thinking this was why I wasn't full. I am fully qualified and have more than 12 yrs experience and a glowing Ofsted result so there is no reason why I should be so cheap! I currently charge �130 for a full time weekly place when others are charging at least �150. I can't suddenly up my price my �20 a week but would �10 a week be too much? I would appreciate parents opinions especially those who pay for childcare. Another thing is local nurseries charge loads more so parents wouldn't exactly be able to say they would go elsewhere as it would cost them even more. I need to charge more but don't want to upset the parents! Please help!
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Would you be able to put up a notice informing the parents that you are considering a slight increase in charges possibly from the beginning of 2010 and that feedback on this would be welcome.
At least they will be pre warned so they can discuss this with you and decide to stay or go somewhere else.
I think the increase is fair especially as other childcare providers in your area are charging more.
At least they will be pre warned so they can discuss this with you and decide to stay or go somewhere else.
I think the increase is fair especially as other childcare providers in your area are charging more.
You have to calculate your charges as any other business would. How much do you want for yourself, what does it cost you in electricity, food, etc? An allowance for wear and tear on furniture, any other costs? Add all together and then see how this compares with the opposition. If it is comparable go ahead with that price, if not ask yourself if it is worth doing it if you are not going to earn an amount that you consider to be right for your skills.
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