1/25/2024 0 Comments Party planner sample contract![]() ![]() So even if you do not anticipate pitching this service, you may be asked for this by a client.Ī minority of planners choose to either heavily discount their client fees or charge nothing for their service, and make all their money by taking a commission from the vendors they hire. Since day-of coordination events are less expensive for the client, they have grown in popularity in recent years due to a slower economy. The extra preparation prior to the event may take you an additional 10 – 20 hours so be sure you take this into account when figuring out your fee. We like to say you should prepare for at least one month to familiarize yourself fully with all aspects of the event you are coordinating. You should assume 8 – 10 hours of work on the day of the event (multiply that by your hourly rate to get a flat fee), but do not forget the preparation you will have to do. You can charge either by the hour or a flat fee for day-of coordination. When a client wants to hire you for day-of service, it means they have chosen their own vendors and work with them directly while you come in on the day of the event to make sure it runs smoothly. These typically happen for weddings but sometimes for special events too. You can adjust it lower if you feel necessary.Īt some point in your career, you will be asked to do a day-of coordination. Typical percentage amounts are 15 – 20% of the event budget. ![]() If you think you can run this by them without the client questioning your billing method then this is a possibility you should consider. The biggest difficulty with this method of charging is to present it to your client in a way that they will approve it. Some planners prefer to charge clients a percentage of their total event budget. To calculate what your flat fee will be, you should make your best estimate on the number of hours you will put in toward the planning plus any expenses you will have like gas, printing, supplies, equipment, etc plus build in a 10 – 20% buffer in case the scope of the event goes over the initial details and this can be your flat fee that you charge. In order to protect yourself financially, it is recommended to receive a 50% deposit upfront, and the remaining 50% within two weeks of the event. If you continue to specialize in traditional, in-person events which the majority of our readers do, then one flat fee structure is sufficient. If you happen to have expertise in virtual events, you should have a separate flat fee structure for these. The above fee structure goes for both social and corporate events.Īfter Covid-19 pandemic, it has become more common for virtual events to occur. When you outline your flat fee it is normal to charge a fee for your services, plus a percentage based on the total vendor fees.Ī standard vendor commission percentage fee is 10-15% so for example if a caterer charges $3000 for an event, your fee would be $300-450 for locating and coordinating that particular vendor. Once you discuss the fee amount with honesty and transparency, you and the client can focus solely on making the event as great as possible. With a flat fee, there are no surprises to you or your client. Adjusting your prices based on the market you are serving (social vs corporate) is an acceptable practice.Ĭharging a flat fee is the most common and preferred method of billing your client. Typically you can charge about 30% more for a corporate event than a social event. ![]() As you see costs of goods and services going up around you, your rate should reflect this as well to ensure you are adequately compensated for your hard work. Knowing that inflation this year has gone up significantly as well as the cost of living, keep that in mind when setting your hourly rate. A common hourly rate can fall within $25/hr for a new planner, and go upwards of $100+/hr for top event planners with amazing portfolios. ![]() The amount of experience you have will play a role in your decision. Here are the most common ways to charge:Īsk yourself what you think you are worth and decide on a set hourly rate. For example, major cities like New York, Los Angeles and San Francisco typically allow for charging higher rates than small towns. Keep in mind that the going rate for fees varies based on your location. There are five possible ways to charge for your services. “How do I charge for my event planning services?” Today we tackle the important question of – Pricing is the most common question new planners ask. Now that you’ve watched the video, read the important text below to learn all the different options of how you can price your services. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |