Packaging Your Event Planning Services
As an event planner, one of the most important things you can do is value your time. It’s probably the one mistake that every creative industry is consistently guilty of. The most important way you can protect yourself in this area of your business is by creating pricing that is in line with the time and services you want to provide. So let’s talk planning packages!
First and foremost, do your homework. This means taking the time to understand your market. If you are in Iowa for example, you might not charge what a planner in California can charge for similar services. If you price yourself out of the range of the competition, you might not get the business you’re completely qualified for. No money coming in means you close the doors.
There are several ways to go about this. One way, of course, is to be upfront and ask. I am sure most planners would appreciate this. If you are new, an experienced planner will likely not share intellectual property if they don’t already clearly state their packages in their online marketing. However, after working in several industries before the event industry that were highly competitive, I actually don’t see anything wrong with “shopping” your competition. Just don’t drag the process out and waste anyone’s time. If a planner doesn’t offer it up in an initial response, then move on.
Next, if you have your “open for business” sign on, then you have the opportunity to gather experience. The more experience you have, the more qualified you are to charge the higher rates for your area.
Picking Your Packages
Now that you have some foundations placed, you can begin to do some calculations. Start with the focus of your business and what you love about your career. Maybe your passion is Day of Event management or maybe it’s the design and production. Whatever it is, build packages you are excited about! If you are excited, your ability to sell your services will increase! You can’t sell something you don’t believe in!
So let’s say it’s “day of coordination” that you love about your business. You love seeing it all come together and watching the love birds say I do! Great! But unfortunately, if you know what you are doing, you know the term “day of” is not really correct. You will need ample time before the “day of” to confirm vendors, create timelines, and maybe hold an initial consultation and rehearsal. That’s your time, and maybe even the time of an assistant if you have one.
By calculating your time needed and multiplying it by an hourly rate you have decided on, you can come up with the appropriate flat rate for this service to charge everyone or an estimate you can give the client if you choose to do an hourly rate billed to the client.
Whatever inspires you about planning, design & coordination should be your focus for your services and your marketing. It means you will be targeting your ideal client. And if you are pricing your time accordingly, your business will become a profitable labor of love!