2006-07-10 04:07:50 · 3 answers · asked by Natalie R 2 in Business & Finance ➔ Small Business
According to Jill Moran in her book “How to Start a Home-Based Event Planning Business” http://www.amazon.com/exec/obidos/ASIN/0762724862/ref=nosim/powerhomebizguid , there are four ways you can price your event planning services:
Pricing by Percentage. In this approach, you set your price based on a certain percentage of the total budget (e.g. 15-25 percent) depending on your negotiations with the client.
Pricing by Fee for Services. You can list down and define the specific tasks that you need to do to successfully run the event and offer a set fee with the option of charging an hourly rate for additional tasks. Using this approach, your price will depend on your experience and qualifications. This type of pricing is best if you feel that the client will need a lot of handholding (hence, more work for you).
Pricing by the Hour. To ensure that you are compensated for the time you spend on an event, you can set an hourly rate with each action item tied to a cost line. Then fees can be as low as $25 per hour to as high as $125 per hour, depending on your qualifications and experience.
Pricing by Commissionable Rates/Add Ons. This type of pricing involves adding compensation or handling fee to all services provided at the event. You basically negotiate a discount from all service providers including florals, linens, among others that then serve as your commission.
It is important to remember that the price you set for your services will be determined by a variety of factors, including the market segment you serve, geographic location, as well as your experience and reputation.
2006-07-10 04:36:55 · answer #1 · answered by imisidro 7 · 4⤊ 0⤋
Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.
Hope that helps! I wish you much success & happiness in all your ventures!
2006-07-11 08:36:35 · answer #2 · answered by TM Express™ 7 · 0⤊ 0⤋
Ask around to businesses and see how much they would be willing to pay or have paid in the past.
2006-07-10 04:11:10 · answer #3 · answered by thesweetestthings24 5 · 0⤊ 0⤋