Putting a price tag on your brand and hard work can feel tricky, but thinking critically about what you’re charging is a pivotal part of establishing your business, and giving credibility to the wedding community as a whole. Understanding what your services are worth is an important first step in setting a price that's reflective of the quality of your services. Let’s assess how thinking about charging fees can help your business and elevate your community.
Starting Point
Questions to consider first:
- What is the formula that you use to charge your services?
- Are you new to the wedding world or have you been around for a while?
- What do you truly think your services are worth?
It’s easy to want to accept all inquiries in fear that you won’t get other clients. This is especially prevalent if you’re new and just starting out. However, not every client is a fit for you and your services. Establishing that early on will benefit your brand in the long run. It’s good to be grateful for the inquiries you're receiving but if it isn’t a match, start getting comfortable with saying no and directing the client to another wedding pro. This is a healthy practice that will build a strong foundation for your business and your view of your services.
Undervaluing your work is not just for new wedding professionals. Many seasoned pros may be undercharging. It may seem like undercharging will get you more clients but this is actually a critical and harmful practice for your business. Do not accept jobs that are paying less than what you’re worth. If you continue undercharging, raising your prices will be a difficult feat as you likely already built a reputation on undercharging.
Pro Tip: LVL Weddings & Events and LVL Academy founder Lindsay Longacre is sharing her top tips to help you review the numbers behind your business and figure out how to price your services for profit in this article!
Establishing Your Price Point
There has to be an established starting price point for newcomers. This price will differ based on your location. Learn to love and value your work so much that you give yourself a fair starting point. Learn more about How to Set Prices Based on Your Value. As you continue to grow in experience, education, and you promote yourself, you can begin to increase your pricing accordingly.
Factors to consider:
- Assistants: How are you paying your team members appropriately and are you valuing them?
- Forms of communication: What efficient modes of communication are you using that raise your services?
- Time: How much time does it take to perform your services? If you don’t value your time, who will?
- Regular costs: What are your business costs? (rent, utilities, insurance, equipment etc.)
- Tools: Are you using the Aisle Planner Suite of Tools to maximize your services? This is a selling point for your clients that’s worth a fair payment to you and your business.
- Connecting with community: What’s your community charging? Connect with other wedding and event professionals so you can gage what is and isn't appropriate. Your wedding community is here for you! Meet other Aisle Planner Pro Partners.
Join Associations and Attend Conferences and Networking Opportunities to strengthen your connections and build your experience.
Here are a few of the biggest associations in the wedding industry:
Knowing your worth and charging fair prices is beneficial for you and for everyone in the wedding community. Your passion and bold work deserves to be valued!
Hero photo courtesy Rebecca Carpenter Photography
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