Do you work in the wedding or events industry? Do you worry that you will price yourself out of the market, charging either too little or too much?
Let me help.
First of all let me reassure you of what you are doing right? The fact that you are concerned about pricing shows me that you really care both about your clients and your business, which is a great start. Setting your prices and then forgetting them can lead to a stagnant state and your clients want to know that they are paying the right price for the best product or service. Especially in this industry where sadly the tarnished edge that says ‘wedding businesses will rip you off’ is still out there.
So what are my top tips?
- Stop looking at what others charge. Their business is their business and yours in yours. They are different so you would be doing your customers a disservice by copying someones else’s packages or fees/prices. Stop fretting about cheaper or more expensive people/packages.
- Be honest about your own value and worth – what is the right amount you want to earn per hour or what is a fair price for your products or packages?
- Do your research, understand your field of expertise BUT don’t just follow the crowd. Your prices should reflect value for money and a reflection of what it is your client is getting.
- Lastly don’t feel embarrassed by your prices, if you believe you give good value and excellent service for the fee then be proud of your prices.
I believe the key to really getting your prices right is to make sure they are fit for purpose, they offer value but they also return a profit (after all it’s a business not a hobby) and allow you to reinvest in yourself or your business.
Know your value and others will too.
If you would like to download my Wedding Professionals Handbook it can be ordered here where I offer more tips and worksheets to help you really grow and expand your business within the wedding industry.
See you soon,
The Wedding Expert