Most vendors set their prices by looking at what a competitor charges. It feels safe, but it quietly ties your income to someone else’s costs, skills and goals. A better approach starts from your own numbers.
Start with your real cost of a booking
Before you quote anything, list every cost one booking creates:
- Direct costs: staff or assistants, ingredients, materials, rentals, printing.
- Travel and logistics: fuel, vehicle hire, accommodation for out-of-town events.
- Overheads: equipment wear and replacement, insurance, software, phone, marketing.
- Your time: not only the event day, but meetings, planning, editing, shopping and follow-up.
Where the price of one booking goes
An illustrative split. Your own numbers will differ, so work them out.
- Direct costsStaff, materials, rentals
- Travel and logisticsFuel, transport, stays
- OverheadsEquipment, insurance, software
- Your timePlanning, meetings, follow-up
- ProfitWhat the business keeps and reinvests
Many vendors count only the event day. A wedding photographer who spends one day shooting and four days editing and communicating has a five-day job, not a one-day job.
Work backwards from the income you need
- Decide the monthly income you want, after costs.
- Estimate how many bookings you can realistically deliver well in a month. Peak seasons and quiet seasons differ, so use a yearly view.
- Divide. That is the minimum average booking value you need.
Pricing, worked backwards
Three steps from the income you want to the price you need.
-
Income goalWhat you want to earn each month, after costs
-
BookingsHow many you can deliver well in a typical month
-
Minimum priceIncome goal divided by bookings
If the number looks higher than your current prices, that is useful information, not a reason to panic. It tells you whether to raise prices, cut costs, or change the mix of work you accept.
Build packages, not a price list
Customers compare options more easily than they evaluate a single quote. Offer three packages:
Three packages customers can compare
Clear limits in each tier prevent surprises on the event day.
Essential
For small, simple events
- Core service only
- Fixed hours
- Limited deliverables
Standard
For most customers
- Everything in Essential
- Extra hours and options
- Best value for you
Premium
For full-service customers
- Everything in Standard
- Priority and extras
- Done-for-you service
Name what is included and what is not. Hours of coverage, number of deliverables, travel limits and revision rounds should all be written down. Vague packages lead to disputes on the event day.
Price the extras separately
Extra hours, additional locations, rush delivery and last-minute changes all cost you time. List them as add-ons with a clear price so you are never negotiating them under pressure.
Quote clearly and follow up
A good quote is short, specific and easy to accept:
- The package, what it includes, and the total price.
- The deposit amount and when the balance is due.
- Your cancellation and rescheduling terms. Our event vendor contract checklist covers what to put in writing.
- How long the quote is valid.
Send it promptly, then follow up after a couple of days. Customers are comparing many vendors, and a polite follow-up often decides who gets the booking. For more on turning enquiries into bookings, read how event vendors get more enquiries online.
Raise prices on a schedule
Review your prices at least once a year. Apply increases to new enquiries first, and give existing customers fair notice. If you are booked solid months ahead, that is a strong signal your prices are too low.
Key takeaways
- Price from your own costs and income goals, not from competitors.
- Count all the time a booking takes, not only the event day.
- Offer three clear packages and price extras separately.
- Put deposit, balance and cancellation terms in every quote.
- Review prices every year.
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