Like most other daycares, I’ve had raised my rates over the years. With the rising cost of living, it has to be done. Parents may not like it, and sometimes you might lose a family in the process. Handling this process can be difficult and stressful, but you should never let a parent bully you into backing down.
Handling breaking the news to parents in this situation doesn’t have to be hard. Break it down in these simple steps:
– Explain to them about how your rates compare to the average providers in your area.
– If you have rate increases policy in your contract (you should!) have a copy of it to show them.
– Talk to them about the great care you give their child deserves a raise just as they get raises at their jobs for excellent work.
– Explain how a lot of your fees goes back into the daycare for expenses of supplies and food for the children and with the rise in costs in turn results in higher fees.
Most parents should understand about how the cost of living hits all businesses-even daycares- and if they don’t, then maybe you should rethink if they were actually a good fit for your business in the long run.