Download
1 / 8
80 likes | 199 Views
What’s the Best Way to Charge for Event Planning Services by Howard Givner. Pricing Model Options. Itemized Fees (where fee is shown as a line item): Project-based: Flat fee per project Time-based: Hourly / Daily fee Budget-based: Cost plus a % (% of budget)
E N D
What’s the Best Way to Charge for Event Planning Servicesby Howard Givner
Pricing Model Options • Itemized Fees (where fee is shown as a line item): • Project-based: Flat fee per project • Time-based: Hourly / Daily fee • Budget-based: Cost plus a % (% of budget) • Non-Itemized Fee/Profit Models • Markups embedded in pricing • Commissions • Combination of the above
How Most Planners Charge Source: Nationwide survey of 100 independent planners.
Choosing A Pricing Model • Most planners have no idea how to charge. • Key requirements of any model: • Must be profitable for you. • Must be acceptable / affordable to your client. • Must be in line with your competitors. • OK to use more than one model. • Consider asking clients which they prefer.
Transparency & Value Any model is OK, if you’re willing to disclose it. Assume client will find out. How would you respond If you’re hiding how you make money, you don’t think you’re providing enough value to justify it. Know how much $ a job is worth; be prepared to defend to client. Once you agree on the value of your services, the pricing model should be irrelevant.
