Price and Value In Events

Event Planning BudgetPricing and budgets are always important when planning events. You don’t have an unlimited budget and usually one of the first questions asked of an event planner is “How much is this going to cost?”

At Pierce Events we serve three very different and distinct clients.

  1. Social event clients who are planning a private event on a limited budget.
  2. Corporate clients with larger budgets and internal and marketing goals
  3. Non-Profit clients who are looking for fund raising opportunities and a solid return on event investments

Creating a pricing structure for a variety of clients, budgets and events can be a challenge. Pricing need to work of all parties involved. Social events require a different pricing structure than corporate and non-profit events. Many social event planners charge a time based fee. Depending on the type of event a planner creates, average hourly rates vary greatly.

Corporate event planners may change a flat fee or planning and project fee based on cost and time estimates. Often we plan an event with a specific budget defined. Choices and vendors are chosen based upon the budget restrictions.

At Pierce Events, we plan and produce events from coast to coast. Our internal costs of vendors, labor and staffing varies based upon geographic location. Everything from time of the year to local tax rates can impact the cost of events.

While pricing is certainly important to most clients, choosing the lowest bidder in events is often a mistake. It’s just as important to consider value along with pricing. Spending more with an event planner or company that has experience, vendor connections and production knowledge is money well spent.

It’s important to remember that a large portion of the money paid to planners does not remain with them. From the fees we charge clients, we pay venues, vendors, equipment rental, permits and license fees among other costs.

Educated clients are often the best clients and provide for a powerful working relationship. Be sure communication is clear and your planner understands your budget and goals.

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