More than 50% of American parents work outside the home. That makes the small education centers crucial to keeping households running smoothly every day. But there are a number of challenges tied to operating these small educational centers. There are strict state and federal guidelines as well as liability issues critical to keeping these businesses strong. What happens to these community facilities when accounts receivables fall into the red?
This post looks at the debt recovery of tuition for small education facilities, such as daycare centers and preschools. What are the challenges unique to these facilities that make them such good candidates for services like Rocket Receivables?
Debt Recovery and Daycare
There are challenges that are unique to small childcare and educational centers. In addition to the myriad regulations governing care, feeding, and cleanliness of these centers, many provide early childhood education, which has its own set of rules.
Staffing and the individual needs of children are all-important tasks weighing down the management teams running these centers. Keeping kids from spreading illness, communicating with parents, and even just keeping a handle on the natural disruption that comes from teaching and caring for children, are just some of the daily tasks facing these small businesses.
Adding the stressors of attempting to collect on a past due tuition balance is the last thing you need. Fortunately, there are services like Rocket Receivables that are designed for the small to mid-sized educational environment found in daycares, preschools, and other childhood education centers.
How Rocket Receivables Keeps Daycares Running Smoothly
The issue is always time. When past due tuition balances are on the books, finding the time and energy to go after these accounts is hard. Given that your past-due client may be a parent, makes the issue even tougher. There is a strong element of trust tied to providing for the education of a child; the last thing you want is to have to “put the hammer down” about a past due tuition payment. In these situations, it’s always better to allow a trusted third-party to act as your surrogate.
You have enough to worry about; your job is to educate. Our job is to instigate a foolproof, compliant system of debt recovery to help keep your facility in the black. We have a proven two-stage solution to improve debt recovery while maintaining the relationship with the client or parent. Rocket’s online system is easy to use and designed around a low-cost online self-service portal. You control the system, but we do the heavy lifting of debt recovery.
Stage One deliverables include:
- 4 written demands to past due accounts + a thank you for payment.
- Postage and return envelope.
- Dispute resolution.
- Data security and legal compliance.
- Online portal with 24/7 access.
- Diplomatic and professional approach.
- The ability to self-schedule client contact.
- NCOA database screening
- Debt validation.
Rocket Receivables also comes with our Stage One Guarantee: We promise you’ll make double the money you invest in our service!
Older and more difficult accounts are elevated to Stage Two. This stage combines letters, calls, negotiation, and even legal action if appropriate. Our approach is effective and worry free – we have automated compliance controls that help protect your brand and maintain your customer relationships.
If you’re struggling to manage past due tuition payments, our fixed-fee online debt collection service is an affordable way to bring past-due accounts back to where they need to be. Click here to request info.