Pricing your Services
Let’s talk about one of the trickiest questions every new party planner faces: how much should I charge? Pricing your services can feel like solving a mystery, especially when you’re just starting out. You want to make sure you’re getting paid fairly for your hard work, but you also don’t want to scare off potential clients with prices that are too high. The good news? Finding the perfect pricing strategy is totally possible—and I’m here to walk you through it!
Know Your Worth (and Don’t Undersell Yourself!)
First things first: You are providing a valuable service, and you deserve to be paid well for it. Party planning takes time, creativity, and a whole lot of effort, so don’t fall into the trap of thinking you need to offer rock-bottom prices just because you’re new. Take into account all the time you’ll spend on each event—from the initial consultation to planning, vendor coordination, and the actual event day. You’re not just getting paid for a few hours of party time; you’re getting paid for all the behind-the-scenes work that makes the event a success.
Research Your Market
Before you settle on a price, do a little digging into what other party planners in your area are charging. This will give you a ballpark idea of the going rates and help you position yourself competitively. Don’t just look at what other planners are charging overall—break it down by the type of event and level of experience. A planner specializing in luxury weddings is going to charge differently than someone focusing on intimate backyard parties. Make sure your prices reflect your niche and target clients.
Decide How You Want to Charge
There’s no one-size-fits-all approach to pricing. Depending on your style and the types of events you’re planning, you can choose between a few different pricing models:
- Flat Fee: You charge a set rate for the entire event. This works well for smaller or more straightforward events where the amount of work is easy to predict.
- Hourly Rate: Charge for the actual hours spent working on the event. This can be helpful for more complex or open-ended projects where the scope might change.
- Percentage of Budget: Some planners charge a percentage of the total event budget (often 10-20%). This model works well for larger events where managing the budget is a significant part of the job.
Which one is right for you? Think about the types of events you’ll be planning and what makes the most sense based on the complexity and time commitment.
Factor in All Your Costs
You want to make sure that your pricing covers not just your time, but also your costs. This includes things like transportation, supplies, and any assistants you might need to hire. Plus, you’ll want to make sure you’re building in enough profit to grow your business. Make a list of your expenses, both for the event itself and for running your business in general (like marketing, software, etc.). Then, factor these into your pricing so you’re not working at a loss.
Create Pricing Packages
One of the easiest ways to help potential clients understand your services (and see their value!) is by offering clear pricing packages. Think of it like a menu: Clients can choose the option that best fits their needs and budget.
Package Ideas:
- Basic Package: For smaller events or clients who need just the basics—like venue setup and décor.
- Full-Service Package: For clients who want you to handle everything from start to finish, including managing vendors, timelines, and logistics.
- Day-Of Coordination: This is perfect for clients who have done all the planning but need someone to make sure everything goes smoothly on the big day.
Having set packages with clear deliverables makes it easier for clients to understand what they’re getting and helps prevent scope creep (when clients start asking for more than what was originally agreed upon).
Don’t Be Afraid to Adjust Your Rates
As you gain more experience and your portfolio grows, your pricing should grow too! Don’t be afraid to raise your rates as your skills improve and demand for your services increases. Clients are willing to pay more for someone who’s proven they can deliver incredible events, so trust your worth and charge accordingly. It’s totally okay to start with lower rates as a beginner, but be sure to reassess your pricing regularly. As your business grows, so should your income!
Mini course Pricing Your Services
Still feeling unsure about pricing? Check out my mini course ‘ Pricing your Services’ where I go into detail about setting your rates. Let’s get your party business booming!
