Pricing is the topic I get asked about more than anything else in my 30+ years in this industry, and it’s the area where I see the most talented planners make the most costly mistakes. If your prices feel uncomfortable, if you regularly discount to close clients, or if you finish events feeling like you gave more than you got, this post is for you.
The Most Expensive Mistake New Planners Make
Undercharging. It sounds counterintuitive, lower prices should mean more clients, right? Wrong. Chronic undercharging signals low value to potential clients, attracts budget-first clients who are harder to work with, leaves you resentful and burned out, and makes it impossible to build a profitable business.
When I see planners posting their fees in Facebook groups and others telling them to go lower ‘to get experience,’ it physically pains me. You should never plan a wedding for $2,000. It’s not sustainable and it’s not fair to you.
How to Know What to Charge: Start With Your Numbers
Pricing shouldn’t be based on what other planners charge or what feels comfortable. It should be based on what you need to earn to run a profitable business. That starts with your Annual Gross Income goal.
Here’s a simple formula: determine your desired take-home salary, add your expected business expenses (roughly 25% of gross), estimated taxes (roughly 20%), and desired profit/savings (roughly 5%). That total is your annual gross income target.
Calculate Your Minimum Hourly Rate
Once you know your income goal, divide it by your available billable hours per year. If your goal is $75,000 and you have 1,380 billable hours available, your minimum hourly rate is approximately $54/hour.
This is your floor, not your goal. As you gain experience and your brand grows, your rates should increase. But knowing your floor ensures you never accept work that literally costs you money.
The Real Problem: Pricing Without Tracking
One of the most common pricing pitfalls I see: planners who set flat fees without ever tracking how many hours events actually take. The first time you do a full-service wedding, track every single hour. It will change how you price forever.
There are apps that make this easy, I use Hours Keeper. Once you know your real time investment, you can price with confidence and never again wonder if you’re leaving money on the table.
Change Orders: Your Best Friend
When a client’s scope expands beyond what was agreed upon, that’s a change order situation. Don’t let it slide. A simple, professional conversation, ‘I’m happy to help with that; it falls outside our original scope. Would you like a quote?,’ protects your time and your income.
Confidence in these moments is everything. The clients who respect boundaries and pay for extras are the ones you want. The ones who don’t tell you something important about who they are.
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About Naif Productions:
Naif Productions is a strategic event planning, design and production firm specializing in corporate, live coaching sales events, social, non-profit, and weddings. Based in New York City, we produce events worldwide from Fortune 500 clients and coaches to families and charities. Naif Productions specializes in helping clients attain their goals, realize return on investment, and achieve the most unique, creative experiences.
About Annette Naif:
Since 1986 Annette Naif has been designing and producing custom events, helping clients create their unique style that translates into a memorable and profitable experience. Annette spent 17 years producing events in the motion picture industry where she helped coordinate numerous productions for film and episodic television programs. Since then Annette’s been running her own event production company, coaching other event planners, teaching an event operations and production course at NYU, and now is the CEO & Creative Director of Naif Productions.
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