WAHM Forums

Hi, planning the startup of my business, I was wondering what to charge. I am not good at figuring a price to charge, I don't want to be too high, but I don't want to be too low. Would I charge one set fee for all parties and events? Would I need to charge different fees for birthday, showers, ect? Would I need to charge by the hour, what is a good hourly rate? Do I charge for services like dj or does the client pay them? Would I have to be at the party? I am new to this and in need of help and advise.
Thanks
smith316

THis is all dependant on what services you provide and what your area is. The best advice is to call other party planners in your business and get quotes. Find out how they figure it out.

Some charge a per person fee (birthday parties), other charge a percentage of the total budget (weddings) and other have an hourly or flat fee. You have to find out what works in your area and what others are doing.

My suggestion would be to sit down and create notebook (binder) for yourself. Briainstorm the types of parties/events you would like to coordinate and then list everything that it required, what services you will provide, and what services you will simply direct your clients to.

Then ask yourself how much time you think you will spend on this or that and add 10% to your calculation - now you could go with an hourly fee (I don't personally like this route), make sure you are competative but not overpriced, or a flat fee (which I prefer).

Best of Luck to You. Edited by: SilvrPayChk

I would not call other planners in your area. This, to me anyway, is really shady. Your pricing should be based on your experience and what you feel you are worth. I suggest joining www.i-wed.org (http://www.i-wed.org)-- you'll find tons of information about pricing and starting your business there :)

There doesn't seem to be anything at this site. Am I missing something.

I have to say that when starting a new business (services) you really do need to know what other people in your area are charging, because if you undercharge your potential customer base will think you are not a professional, just a hobbyist. If you charge too much then you would have not customers.

I would not have an issue of someone contacted me and asked for my rates for any reason.

Sorry- the address is www.i-wed.org/community (http://www.i-wed.org/community). I know the owner of the site is doing a major overhaul that will go live in Feb. so I'm not sure if you can sign up now or not.
In so far as calling to ask prices, I'd prefer someone be honest and say I'm starting my own business and have some questions about pricing- rather than asking what they charge, I'd ask how they go about setting their prices. You may or may not get a response, but you never know when you might need help from a fellow planner and better to start off on the right foot. I'd also check websites first before calling- you can get a good idea of how to set up different packages and whatnot.

If you're able to sign up at i-wed, I highly recommend it. The ladies there are quite supportive and there's a wealth of information, including threads about pricing. If you'd like to join and can't, send me a PM and I'll put you in touch with the owner- she used to be a member here, but I'm not sure if she comes here anymore.

LassodMoon - I agree that it is best to tell others that you are starting your own business - but I know that some people might not be comfortable doing that - afraid it will result in rejection. You are correct though you can get a lotof information from websites of people in your area, I hadn't thought about that one.

Hi,

A while back, I was planning a birthday party for my daughter. I called around for prices and services. Most of them want $8 to $15 per kid. Some would say $60 and you can have 8 kids, etc. They will entertain them and may offer cake and drinks.

Wedding planning is different. I can't give you any tips there as I am curious about that myself.

Victoria

what they charge, I'd ask how they go about setting their prices. You
may or may not get a response, but you never know when you might need
help from a fellow planner and better to start off on the right foot.
I'd also check websites first before calling- you can get a good idea
of how to set up different packages and whatnot.

When starting out you should be very careful about your pricing. Go to other web sites and look at other planners packages. You probably won't see pricing listed but you can get a good idea of what is involved in each package price. EXAMPLE: You don't want to contract tocoordinate a wedding, a yearoutwith a commision rate of 15% & a budget of $10000 and spend four hours a day on the phone with the bride or groom, or mothers of both, etc.. If you are not careful you can "under price" yourself and you will burn out very quickly.

i would suggest that you look around and see what your competitors are selling for and try to beat their prices and quality.

There are lots of ways to charge:
* Percentage coordination fee on the total job
* Flat rate for the services you're going to provide
* Cost plus markup.

All have advantages and disadvantages. It's so important to figure out what your competition is charging and FOR WHAT. It's not enough to know that they charge "$5,000 to coordinate a wedding." What does that include? How many meetings? What services? Complete vendor referrals, etc. I suggest you get specific pricing from AT LEAST three competitors in your area. Then to grow your business, figure out what services they are NOT providing that potential clients might want. Any easy way to figure out what clients want is by reading message boards and seeing what potential clients complain about. Then, you can service those clients' needs effectively.