Pricing Strategies That Work
Set prices that win bookings while maximizing your earnings
Finding Your Sweet Spot
Pricing is both an art and a science. The right price attracts quality bookings while ensuring your business remains profitable and sustainable.
1. Know Your Costs
Before setting prices, understand exactly what each event costs you.
Cost Categories
- Direct costs – Food, supplies, equipment rental
- Labor – Your time and any staff you bring
- Transportation – Fuel, vehicle wear, mileage
- Overhead – Insurance, licenses, marketing
2. Using Minimum Guarantees
Minimum guarantees protect your time and ensure every event is worth doing.
How to Set Your Minimum
- Calculate your break-even point for the smallest event you'd do
- Add a margin for profit and unexpected costs
- Consider the opportunity cost of that time slot
Pro tip: Your minimum should make you comfortable saying yes to the booking. If you feel resentful at your minimum price, it's too low.
3. Choose Your Pricing Model
Per Person Pricing
Best for: Catering, food trucks, bar services
Scales naturally with event size. Easy for hosts to understand and budget.
Flat Fee Pricing
Best for: Entertainment, photography, DJs
Simple and predictable. Great when your costs don't vary much by guest count.
Hourly Pricing
Best for: Venues, performers, rental items
Flexible for varying event durations. Combine with minimum hours.
Package Pricing
Best for: Full-service providers
Bundle services at different tiers. Makes upselling natural.
4. Research the Competition
Understanding market rates helps you position your pricing competitively.
- Browse other providers in your category and area
- Note their pricing structure and what's included
- Identify what makes your service different or better
- Price based on your unique value, not just matching others
Ready to Optimize Your Pricing?
Update your pricing in your dashboard to start attracting the right bookings.
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