Actually, that reminds me Chuck...I had a few thoughts on the whole restaurant thing that I wanted to post in another thread you had going about that (the one where some people were telling you to take a leap of faith and trust in yourself). It's too late tonight, but maybe tomorrow I'll find it and post my comments.
It's ALL about price..... so I took a shot...
- Thread starter Papa Deuce
- Start date
In a sit down, full service restaurant, your greatest margin should be on your daily specials.
Mmmmm.... tasty!
This is all good food for thought...
Like Papa I started out about 2 years ago and was chargin any where from $400-600.
This year I bumped that up to $650-850 Lights an Extra $50 (I don't have much yet) and Karaoke an Extra $100. I even have an hourly posted if ya get a quote I had someone do that for 6 hours and got a $1200 (didn't get that one heck even after I re-quoted for the package still not so much as a peep)
Anyway I made that rate increase just after 1 year in the biz and well posting and reading these boards... Like Papa I know I wont be able to go FT until I can charge a rate that pays equal or better than my current job.
I might try that 95 or 99 bit just to see what happens...maybe goto $695-$899 change my lights to 99. and the karaoke to 195.
I know I'm worth it so why not?
Ok did it......
I was quoting $850 last year. At the first of the year, I had 4 brides tell me I should charge more for all that I do. I thought about bumping to $1k. I decided to quote the next 10 brides at $1200. I booked 8 out of the 10.
I have found that the people who pay more, appreciate it more and they aren't such a PITA.
I have found that the people who pay more, appreciate it more and they aren't such a PITA.
I'm generally with you on that. I catered a high end pig roast ( oxymoron, I know )..... and it was the best experience...
I agree with you Kevin, I see people who complain about stuff being too expensive are usually a PITA to deal with and they complain about everything. While people who realize the quality of a service is worth more are usually great people to work with 95% of the time.
i totally agree with chuck. If a customer says "can you beat $900 and he gives her a price that does that...i see no problem with it.
His "regular" price may be $650.....but chuck, i would be willing to bet the price has varied for different reasons. Some have asked for a discount.....some asked for extras...and extra time.....So, the way i see it, is your charge varies....like most do.
Chuck did nothing dishonest.
His "regular" price may be $650.....but chuck, i would be willing to bet the price has varied for different reasons. Some have asked for a discount.....some asked for extras...and extra time.....So, the way i see it, is your charge varies....like most do.
Chuck did nothing dishonest.
That's not what is happening.
You have to remember that at any given time a full 2/3 of all the participants in this field are newcomers with less than 5 years invested and little more than 3 or 4 dozen serious events under their belt.
This doesn't mean they aren't good at what they are doing - but is typical of someone who is younger, unencumbered, boldly inspired, and shallow on resources. The result is they charge less - because they can and their clients are thrilled about it.
But it does happen. I know a guy who argues up and down that I'm taking advantage for charging what I do. He said he's a DJ and wouldn't pay that.
Exactly! The people who pay that either don't know what should happen at a wedding or they would rather pay me to take care of the crap. That is actually one of my selling points. I tell them to let me take care of the crap and that way they can enjoy their day.
I'll say one more time....If you're comfortable charging what you do, they don't worry what others say.
Kevin, this is not directed at you, but in general....
The only way that you could be taking advantage of someone is by answering yes to these questions:
1. Are you setting your prices unreasonably higher than they need to be?
2. Does your website, literature or selling technique suggest that a less expensive service could never perform on the same level as yours?
3. When you speak to or meet with a client, are you sizing them up financially in order to decide what your quote will be? ( Are you quoting different based on what you think they are willing to pay?)
great point. I will never argue with someone's profitability. As long as the customer is happy, that's what matters. Now if customers that are paying a premium price aren't getting what they expected, then that's a different story.
Kevin,
I think one could argue that the DJ you are talking about is the one being taken advantage of.
Geez, look what me and my Son started... :sqerr:
FWIW, I have no problem with what anybody charges, as long as they are fair across the board to potential clients.
In this particular case, I believe that #3 on Hank's list above, was the deciding factor in how much was charged...
That may not be dishonest, but is it morally right to charge one person one fee, and another a different fee, for the same product/service?
Just my humble opinion, but I don't think so...
FWIW, I have no problem with what anybody charges, as long as they are fair across the board to potential clients.
In this particular case, I believe that #3 on Hank's list above, was the deciding factor in how much was charged...
That may not be dishonest, but is it morally right to charge one person one fee, and another a different fee, for the same product/service?
Just my humble opinion, but I don't think so...
Taking advantage of what ? Someone else's desire to select you over everyone else? Balogny.
The other guy has no preference for who DJs his events, he concerns himself only with the task, hence there would never be a reason to pay more than he deems worthy of a substitute.
"Advantage" means you have someone at a loss. You are only "taking" advantage if you know they would not make you a similar offer if not stressed by circumstance.
Chargig $7 for bottled water because the $2 bottles are on the other side of a fence the buyer cannot cross without sacfricing his admission - is taking advantage.
Charging $7 for bottled water because you had to fly it in from the other side of the planet and chill it in the middle of a hot desert - would not be taking advantage. ..and most people don't have a problem with that.
Charging $7 for bottled water simply because people like the way you label or package it - is also not taking adavantage. ...but some people will resent your popularity.
Yes, because you are missing the fundamental concepts of an "offer" versus "solicitation" or "consideration".
If I run an advertisement for a 20" LCD television - then I have made an offer to sell a unifrom product to anyone who responds.
But when I "solicit" brides for my services - the product is yet undefined. It is the customer that will define the service and request an offer for consideration. No two events are the same. The value of the date, time, and my attitude and disposition will all be different in an hour.
That statement from this thread, seems to contradict this statement you made in another thread...
The potential client can't establish your credibility, because as you mentioned, cost will be determined at any given time, because of your mood or whatever... Pick one or the other
If it's any help, I couldn't afford my own rates. It's true. There's no way I could come up with that kind of dough.
Ethics aside, there is something to be said for charging what the market will bear. I'm gonna guess that parts of the Philly market can bear more than others.
Why not bump your initial rates up to what the upper scale of market will bear and then work from there? Reason I ask... if you offer packages based upon what you provide and do to justify the added costs, why not start with the upscale?
My father used to sell cars. Just one of the many jobs he did, lol. Any car salesman will tell you he'd rather move a BMW than a Chevy sedan. The ticket is to promote the Beamer first and work your way down to the sedan if it comes to that.
Thoughts?
Ethics aside, there is something to be said for charging what the market will bear. I'm gonna guess that parts of the Philly market can bear more than others.
Why not bump your initial rates up to what the upper scale of market will bear and then work from there? Reason I ask... if you offer packages based upon what you provide and do to justify the added costs, why not start with the upscale?
My father used to sell cars. Just one of the many jobs he did, lol. Any car salesman will tell you he'd rather move a BMW than a Chevy sedan. The ticket is to promote the Beamer first and work your way down to the sedan if it comes to that.
Thoughts?
So far, this year, I have had only one wedding gig that was under $1,100, and that was for a friend. As of one month ago, my booking rate for weddings for 2008 is $1,200+ (I just recently booked a $1,600 gig) I don't use intelligent lighting, karaoke, Etc.
This $650 stuff is what we were charging in the early-mid 1990s.
The only ones in my area that are charging those rates are the botoom feeders & the rookies.
If you are good & have experience, RAISE THOSE RATES!!!
This $650 stuff is what we were charging in the early-mid 1990s.
The only ones in my area that are charging those rates are the botoom feeders & the rookies.
If you are good & have experience, RAISE THOSE RATES!!!
If you raise your rates dont bring an eight track or spin and pukes though eh Bill? DMX and intelligents are the yr 2000 and up standard. You have an HD2500 which is ahead of the game. You can honestly command top price when you dont even provide intelligence?
OR BRING WHATEVER WORKS FOR YOU AND CHARGE WHATEVER MAKES YOU HAPPY.
OR BRING WHATEVER WORKS FOR YOU AND CHARGE WHATEVER MAKES YOU HAPPY.