One of the most challenging things for wedding planners is determining how to charge for your time and talent. There are 4 basic ways to charge:
Flat Fee – You charge a flat fee for services you are providing to your clients. This is typically based on the type of event, amount of planning involved and what your client needs.
Percentage – You charge a percentage of the overall wedding budget. If your client’s wedding budget is $50,000 and you charge 10%, your fee would be $5,000. If you use this method, have a minimum starting price.
Packages – You would have various wedding planning packages such as partial planning, full service planning, event design or wedding day coordination. For this type of pricing, your contract should specify the exact services (or number of hours) that are included.
Hourly – You have a set hourly rate and bill clients based on the hours you work. Clients may ask you to estimate the amount of hours before you start working.
Event planners can use any of these pricing strategies successfully. You can also combine pricing methods such as having a flat fee for wedding day coordination service but have planning packages that include different levels of service. I started out with planning packages then moved to flat fee pricing after a few years. For smaller events, I occasionally do hourly consulting. Be open to trying different pricing strategies until you find what works best for you.