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Some Creative Revenue Boosting Strategies For Childcare childcare insurance

Dry cleaning drop-off and pick-up? Take home dinners? After hours dance and karate classes? These are some of the ways daycare centers around the country have found to boost their profits.

Whether by concentrating on what services their clients want and like, partnering with other local businesses or thinking "outside the box", childcare centers around the country are finding many clever ways to add to the bottom line.

In Mason and Westchester, Cincinnati, Little Leprechaun Academy has hired a professional chef who prepares dinners that families can order and take home when they pick up their child

Some centers have installed video viewing systems, like the ones provided by Watchkids.com, so that parents can watch their child's music lessons and dance recitals while they work. Still others are bringing in hairstylist on a monthly basis, and making payments easy for parents by accepting Paypal or ReliaFund Inc. electronic payments so they don't have to write a check.

If you'd like to see a bigger bottom line ask your parents what services they would be interested in having you provide. Ask them if they'd be interested in dry cleaning drop-off, morning coffee service or enrichment programs for their children.

Income Eligibility Guidelines

Child Care Food Program
Effective July 1, 2009

 

Household Size / Annual Income
2 $18,941
3 $23,803
4 $28,665
5 $33,527
6 $38,389
7 $43,251
8 $48,113
Remember: the income is the total gross income before taxes, social security, health benefits, union dues, or other deductions.

Government Reporting Requirements For Employers

You have to report to a huge number of government and regulatory entities. Usually, you’re so focused on the requirements that are specific to child care that you may overlook all the requirements the government imposes on all employers.

Here is just a partial list:

  • Internal Revenue Service Department of Labor
  • Child Protective Services Accreditation Body
  • Department of Children & Families Law Enforcement
  • Early Learning Coalition 4Cs
  • Fire Marshall State Department of Labor
  • Immigration & Naturalization Dept of Homeland Security

Today we will focus on two requirements related to your employees; New Hire Reporting and I-9 compliance.

Getting Paid: Collection Tips For Child Care Providers

For many, collecting child care payments is the most difficult and unpleasant part of being a provider. What follows are some tips and ideas for "getting paid" that will hopefully assist you.

Firstly, recognize that people need to pay. Never forget that your services have value. No parent asks the grocer or the electric company, "Can I pay you Thursday?" Do not allow any latitude (or very little). You may have to take parents aside (privately of course) and tell them that you too have bills and expenses to meet and you depend on their payments like they depend on their paychecks.

Set the tone immediately. Tuition policies Tuition policies should be covered thoroughly prior to enrollment so as to prevent misunderstandings or miscommunication. Be sure to cover your late fee policy. Let your clients know that late fees can not be waived once incurred. After discussing this verbally, actually show them the section of the contract where this information is found and, if you provide one, the specific pages of the Parent Handbook.

Be consistent in enforcing the late fee policy. Your late fee policy is there to act as a deterrent to parents making late payments. But it only works if you use it. Enforcing your late fee policy consistently keeps you from ever hearing, "Well I never had to pay it before…" For legal reasons, it is also important to enforce this policy equitably and consistently for all your clients.

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