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, the location, logistics, and what your client needs. It does not mean that every planning package has a flat rate for any kind of event.
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 so that you are still compensated for your services even if the client’s budget is low.
Packages – You would have various wedding planning packages such as partial planning, full-service planning, event design, or wedding day management. 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 management service but have planning packages that include different levels of service. I started out with planning packages then moved to a combination of flat fee pricing plus percentage 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.
Ready to learn more about how to price your services as a wedding planner and what to include in your planning packages?
Pricing With Confidence empowers wedding planners with the knowledge and tools necessary to be confident with all aspects of pricing (how you charge, what you charge, when you charge) and the services (packages, custom proposals, individual services) you offer to clients. Learn More…