Holding a Spot

[BBurris1]

I have interest from a parent to place their infant with me in March. I haven't had to hold a spot yet, as I'm a new provider. I don't have any deposit in place either. I plan to add a 2 week deposit to my contract that will apply to the last 2 weeks of care.
I really need to fill spots, so my husband is telling me I should only take the deposit of $340, but the infant wouldn't start until sometime in March. I feel that's a long time to hold a spot with only the deposit.
I'd considered writing a contract to hold spots that would be free for 2 weeks from the interview (make a decision, turn in paperwork, etc.), half price for 4 weeks, then full tuition. I have no idea what the average is in my area and don't know who to contact to find out.
I don't want to scare this family away since I need them more than they probably need me at the moment, but I also need to protect my family and business from losses by holding spots for free. What is your recommendation? Should I just take the deposit this time and work on a contract for holding spots for next time? Or should I rush to complete it before my interview with this family?
Thanks for the help and advice!

[childcaremom]

Putting this out there just as an option... it is not the popular way to do things on this board however it is what works in my area.

I require a non-refundable holding fee (the wording is holding fee - not deposit) equalling 2 weeks tuition. I apply this to their first two weeks of care. If they change their mind for whatever reasons, it is non-refundable. I will no longer hold a spot for longer than 3 months (due to people backing out, situations changing and child no longer being a good fit, etc).

I don't require a deposit so have no advice there.

I'm sure others will chime in with some other options.

[Unregistered]

My minimum charge per week is $70 and that's my holding fee. I don't hold spots but I offer my lowest rate. I would consider a 2 week deposit. I think it's enough $$ to keep the parents from cancelling. You could apply it to the first 2 weeks or the last 2 week when they terminate.
I called my local child care referrel service to see how many providers were in my area and I google average daycare in my state. Check with your DHS office and see how much the state pays - that will help guage your rate.

[Blackcat31]

I have interest from a parent to place their infant with me in March. I haven't had to hold a spot yet, as I'm a new provider. I don't have any deposit in place either. I plan to add a 2 week deposit to my contract that will apply to the last 2 weeks of care.
I really need to fill spots, so my husband is telling me I should only take the deposit of $340, but the infant wouldn't start until sometime in March. I feel that's a long time to hold a spot with only the deposit.
I'd considered writing a contract to hold spots that would be free for 2 weeks from the interview (make a decision, turn in paperwork, etc.), half price for 4 weeks, then full tuition. I have no idea what the average is in my area and don't know who to contact to find out.
I don't want to scare this family away since I need them more than they probably need me at the moment, but I also need to protect my family and business from losses by holding spots for free. What is your recommendation? Should I just take the deposit this time and work on a contract for holding spots for next time? Or should I rush to complete it before my interview with this family?
Thanks for the help and advice!

I am also in MN. What county/area are you in?
You are welcome to private message me if you don't want to post openly.

From my understanding, infant care is SUPER hard to find.

I do NOT hold spaces. I require payment in full as soon as the space is open and available. My rates are based on enrollment NOT on attendance or time used.

[BBurris]

I am also in MN. What county/area are you in?
You are welcome to private message me if you don't want to post openly.

From my understanding, infant care is SUPER hard to find.

I do NOT hold spaces. I require payment in full as soon as the space is open and available. My rates are based on enrollment NOT on attendance or time used.

I am in Anoka County. I've had a couple of calls looking for infant spots in September already, so I assume they're hard to come by!
I am hoping to eventually do like you: no holding without full payment. But right now I only have 1 dcg and my own son. I need more kids! I just don't want to lose out on income long term by asking too much and scaring people away. I've only been doing care for a month and have no real previous experience, so I feel like it might be better to build more of a client base first. But I've never done this before, so I could be wrong!

[Snowmom]

I'm also in MN, although south from you.
happyface
I get infant calls weekly here and do not hold infant or toddler spots at all.

I will hold a preschool spot for up to one month with a 2 week deposit. The deposit is non-refundable if they change their mind during the enrollment period, otherwise it is applied to the last two weeks of care if a written two-week notice is provided and no outstanding balance is due.

Anything longer than one month is at full rate to hold the spot. My rates are all FT and tiered by pick up times. They are welcome to choose the lowest rate.

I know since your just starting out, you want to quickly fill your openings. But, imho, it doesn't make sense to short change yourself financially for that coveted infant spot.

[BBurris1]

I know since your just starting out, you want to quickly fill your openings. But, imho, it doesn't make sense to short change yourself financially for that coveted infant spot.

I have only had one other person looking for an infant opening sooner than March. When I offered to set up an interview, they said they needed to talk to their husband and get back to me but never did. So I don't know that I'd be missing out on any income by not taking a holding fee.

I thought at the interview I could tell them that I will waive the holding fee unless I have another person interested in filling the position sooner. If this is the case, they can choose to begin paying the full tuition rate to continue holding the spot or forfeit it. But I'm afraid they'll feel the spot isn't secure and choose to move on if I say that. Like I said, I'm sure I need them more than they need me right now.

[Charl]

Putting this out there just as an option... it is not the popular way to do things on this board however it is what works in my area.

I require a non-refundable holding fee (the wording is holding fee - not deposit) equalling 2 weeks tuition. I apply this to their first two weeks of care. If they change their mind for whatever reasons, it is non-refundable. I will no longer hold a spot for longer than 3 months (due to people backing out, situations changing and child no longer being a good fit, etc).

I don't require a deposit so have no advice there.

I'm sure others will chime in with some other options.

This is how I do it, too, but I only require a one week deposit. I only opened this summer, and was worried it would run off clients, but in fact it only ran off the clients I wouldn't have wanted anyway! I filled up quickly, and have to turn people away at least twice a month.

[midaycare]

I'm not sure of your exact ratios, but you can have what, 10 kids in MN? It's a lot compared to here in MI at 6. So if you only have 1 and 1 child yourself, I wouldn't stress about signing them up now.

If you had not just opened, my answer would be different. Since you need kids, I would sign the family and then you can tell interviewees you now have 1 child and one more starting.

[MunchkinWrangler]

I'm in MN too. I've offered a $100 per week holding fee, I'm new and was desperate also. Infant spots are competitive and honestly the interviews with a later start date didn't contact me back but I was able to fill my infant spot with a January start just a few weeks ago. I get a lot of infant inquiries but some of them are summer and beyond and in no way would I hold an open spot without money that long. I made it clear that I would need payment or the spot would be up for grabs. If they like you they will make a financial commitment if not then to me that's not a good fit. I'm sure someone will come along with a sooner start date, just keep advertising like crazy.

[MunchkinWrangler]

I'm not sure of your exact ratios, but you can have what, 10 kids in MN? It's a lot compared to here in MI at 6. So if you only have 1 and 1 child yourself, I wouldn't stress about signing them up now.

If you had not just opened, my answer would be different. Since you need kids, I would sign the family and then you can tell interviewees you now have 1 child and one more starting.

Yes, we can have 10, but the ratios are no more than 6 under school age, no more than 3 under 2 and of those 3 no more than 2 can be under 1. You're own children are included in the ratios as well.

[midaycare]

Yes, we can have 10, but the ratios are no more than 6 under school age, no more than 3 under 2 and of those 3 no more than 2 can be under 1. You're own children are included in the ratios as well.

Similar to ours. But she still needs kids. The hardest part when opening is getting the first few. Once parents know others have signed on, they become more willing.

She may get 25 calls for infant care before March. Or she may not get even one. Hard to predict. But ss a newbie, I'd take a 2 week deposit and sign them up.

[Blackcat31]

Yes, we can have 10, but the ratios are no more than 6 under school age, no more than 3 under 2 and of those 3 no more than 2 can be under 1. You're own children are included in the ratios as well.

This is true only if you are licensed as an Class A. There are 8 different licensing categories.

IME, most FFC in MN are licensed as either a C1, C2 or C3.

I am C3. I can have 14 kids total. 10 under school age/4 SA and of those 10 under school age, no more than 4 shall be infants/toddlers of which only 3 can be infants.

Similar to ours. But she still needs kids. The hardest part when opening is getting the first few. Once parents know others have signed on, they become more willing.

She may get 25 calls for infant care before March. Or she may not get even one. Hard to predict. But ss a newbie, I'd take a 2 week deposit and sign them up.

I agree with this. ALOT can happen between now and March. I'd take the family but only if they pay a deposit and make sure it's non-refundable so if they decide to go elsewhere the OP wouldnt really be out anything for holding the space.

I would also make sure I had some sort of clause that addresses "what if...." in case all of a sudden 10 other families wanting full time care right now call.... We all know that as soon as we have something figured out or planned out....it changes.... so I'd give them the option of paying a deposit but make sure I have all MY options covered. Just in case.

[BBurris1]

How's this?

Okay, I just typed this up. How does it sound?

I, ___________(my name)________, agree to hold one ________(infant)_____ spot until __(March 1, 2016)____ with a fee of $___(340)___. This will only be refundable if the provider chooses to no longer hold the space. It does not count toward future tuition.

If another person is wanting to fill this position before the agreed upon start date, I may be asked to begin paying full tuition of $__(170)__ per week to continue holding the spot. This is not refundable and will not count toward future tuition. If I choose not to pay the tuition, I understand that I am forfeiting the position and the deposit paid.

[childcaremom]

This is mine:
Holding Fee

This is to confirm that I wish to enroll my child (child's name)_______ in childcare starting on (start date)______.

I understand that a non-refundable holding fee of $xxx.00 is required to hold this spot for my child, commencing on (start date above)____________________________. This amount will be applied towards your child’s first two weeks of tuition.

Please note: This holding fee is non-refundable. The fee is to hold your child’s spot. If you decide not to enroll your child, the deposit will not be refunded.

Please fill in below and return to guarantee your spot being held. Thank you!

I have read the above information and know that if I decide not to enroll my child starting on (start date above) _______ that I will forfeit the entirety of the deposit ($xxx.00).

I have both parent's sign and date and return.

I do not have anything about me not offering the spot.... interested to know how other's word that.

Some reasons that I could think of:

• if someone comes along who wants to start earlier... would you continue to hold the spot without fee or would you then require full tuition payment to start? If they don't choose to opt in and pay, then they lose the spot and deposit (hm, yes or no)? If they choose to pay, full payment is required from that point onwards. If no payment, then you are free to give the spot to the other family.
• If family's needs change (hours, days, etc) and you cannot accomodate for them, then the spot would no longer be available (as contract needs would change). Would you offer deposit back, yes or no?
• If child's needs change that you can no longer meet, would you still offer the spot or no? Deposit back yes or no? One big reason I can think of, as I have run into this, is that child was not adapted to our daily schedule and despite lots of communication and work on my part, it did not work out. Had I met with the family again I would never have enrolled this child. Something to consider. So if child is not ready to start care (defined as what you need in terms of schedule, bottle ready, etc etc) then spot will be held or won't be held? Refund deposit?
• Lastly, if they want to change the start date, will you allow that? I don't. Which is why the start date is mentioned throughout. Will you accomodate this? Refund deposit in this case?

Hope that helps!