Jump to content
Home
Forum
Join Us
Articles
About Us
Tapestry

Years Fees In Advance


Guest
 Share

Recommended Posts

hi

was just wondering what sort of discount you offer if paying a full year in advance? if any discount at all???

 

thanks

Z

Link to comment
Share on other sites

was just wondering what sort of discount you offer if paying a full year in advance? if any discount at all???

That's an interesting question! I can't imagine why this would happen in my setting, but I guess one way would be to calculate how much interest I'd be getting on the money in my deposit account, and deduct this from the fees. Although that would be quite complicated to work out, so I'm not sure how helpful that is as a suggestion.

 

Perhaps the question to ask would be what impact of having this money a year in advance will make on the costs of providing the service to this family? If you can't identify any cost benefits, then I wouldn't offer a discount.

 

But as I say, this is so unlikely as to be hypothetical in our case!

 

Maz

Link to comment
Share on other sites

Perhaps the question to ask would be what impact of having this money a year in advance will make on the costs of providing the service to this family? If you can't identify any cost benefits, then I wouldn't offer a discount.

 

well as potentially I would take the money and run to a far off island for a period of quiet reflection and PLANNING... I feel it only fair that I give them something!

 

My thoughts are along the lines of what we would give for a sibling discount or somthing like that....

 

and as I research this I come across lots of little pitfalls- but think I may do it just pondering how much...

Link to comment
Share on other sites

My thoughts are along the lines of what we would give for a sibling discount or somthing like that....

This is another issue, we don't give sibling discount and I'm interested to know why settings do. Does it cost you less to provide the care for the second child? Or is this discount provided on the basis that the second child is a 'bonus' that you haven't had to do any extra work to attract?

 

I guess it depends on how much your sibling discount is when thinking about whether it is a goo idea to offer the same to parents who pay a full year in advance!

 

Maz

Link to comment
Share on other sites

We've always offered a sibling discount, although we've not had the occasion to for a few years now. The last one was pre-tax credits so it was to help the family out, and encourage them to take sessions they wouldn't have othewise have been able to afford.

 

On the question of the discount for advance fees, I think it depends on whether you charge for sessions when children are absent. If you are going to be offering refunds then I don't think it's practical to give a discount as you'd have to work out discount on refunds too.

 

You may be able to afford to be generous though. Money 'upfront' is always useful, and you won't have to spend time making bills/receipts etc or have the stress of chasing up overdue funds. When our parents pay a term in advance we give them a session free, for just that reason.

Link to comment
Share on other sites

Hmmm.....I have never even considered this........not sure that I would want to really........

 

Interest rates are so low........

 

My parents pay at the beginning of each term (new term) think that is enough 'upfront' money........I don't refund - but if and when I can I will give an extra session to make up for what has been missed - but that isn't written down anywhere and only happens when I have space........

 

I have a little boy who is going in for an op just before the start of term - have decided that I will not charge for him until he is back with us........again this is not written anywhere but I can afford to do it this time.......

 

I don't offer a sibling discount either - perhaps I'm just mean :o

Link to comment
Share on other sites

We reduce fees for a sibling by £1 per session but both siblings need to be paying fees rather than one accessing a funded place. We brought the measure in a few ears ago as we had a number of multiple birth families and we felt it would help support them. We also wanted to help provide continuity for the children and felt this would be more likely if they attended two or more sessions per week. We worried that in a multiple birth family it might be more likely that parents would struggle to afford for three of them to all come 2 days per week. I'm not sure we would give a discount for annual payments but then again we are only sessional and I'm not sure it would be feasible.

Link to comment
Share on other sites

Sunny day - how could you ever be considered to be mean? I think the practice you describe is the "off the record" type of service many owner/providers have carried out over the years, where you see a need and if you are able to help or make an offer to, it is just the plain decent thing to do.

 

I haven't ever offered the sibling thing either - my costs are the same really no matter what - although if I felt the family were struggling to meet the costs I would see what I could do.

 

I wonder if the fee payers in this instance are expecting some kind of discount because of paying up front? Once you have deducted the true cost of providing care for this child, and if you do make any profit (dirty word these days I know) then maybe you might consider offering a discount out of that I suppose.

Link to comment
Share on other sites

I've never done it or been asked to do it- however the parent pays school fees elsewhere and it is an offer that he has picked up there and wondered if he could get the same here.

 

to be honest in respect of admin etc the cost of admin per child is relatively low (unless it's a non payer...!)

And as far as non attendance is concerned in theory we don't refund (unless like others common sense says its fairer!)

 

The only reason for giving a discount is simply because he thinks he should get one because other places do and because the wealthy tend to be wealthy because they manage their money well... (note my own poverty!)

 

I'm erring on the side of giving the discount- I'm just not sure how much!

Link to comment
Share on other sites

I don't offer a sibling discount either - perhaps I'm just mean :(

Well in that case I am too, sunnyday. :o But I guess offering sibling discounts, refunding when chillren don't attend etc are all measures that are easier to contemplate when your setting averages more than seven children a day! xD

 

Maz

Link to comment
Share on other sites

setting averages more than seven children a day! sad.gif

 

Oooh poor you! Would you like me to send you some of mine? we felt like we were bursting at the seams today and it's not even our busiest day!

 

In fairness when we started our sibling discount we were very busy, pretty much due to the multiple multiple birth families! Don't know what was in the water that year! We rarely use it now as most children are funded before the sibling arrives with us.

Link to comment
Share on other sites

ooh noo ladies , not mean; prudent and business savvy!

 

and yes discounts, refunds etc are the luxury of the high occupancy end!

 

Having supported a setting recently where parents could:

 

pick and choose days as they felt like it

only pay for sessions attended

pick and choose session times and lengths as they wished... eg 12-3 if wanted or 10-11.30...

 

I have seen the financial damage that can be caused by being too kind!

Link to comment
Share on other sites

 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue. (Privacy Policy)