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On average, event planners should charge between 15-20% of the total cost of an event as part of their fee. Depending on the complexity of the program and the amount of time it takes to plan and execute an event, sometimes this is enough to cover a planner's entire cost and source of profit.
If you are wondering how much do event planners make, you may be shocked to find out that the median salary is almost six figures. According to the Bureau of Labor Statistics, the annual event planner salary is $98,370 or $23.74 an hour.
Event planners can earn anywhere from 10 to 40 percent commission on a project, though typical commission is in the 15 to 20 percent range, according to EventPlanning.com.
Choose a niche and excel at it. If you're trying to be an event planning generalist, it's time to get specific. Use Pinterest and Instagram to get found Combine SEO tactics with excellent customer service. Ditch the idea of the average bride. Outsource wherever possible. Tying it all together.
Establish your expertise. If you want people to trust you with their events, you need to demonstrate you know what you're doing. Build an effective business plan. Secure startup capital. Invest in the software you need to effectively run your business.
Invest on a website for your event management business and engage in some aggressive digital marketing to get more clients. Start selling online, use online ticketing and event registration platforms to make your event tickets available online. on your website.
The amount of experience you have will play a role in your decision. A common hourly rate can fall within $25/hr for a new planner, and go upwards of $100+/hr for top event planners with amazing portfolios. Typically you can charge about 30% more for a corporate event than a social event.
A list of services being provided. The agreement should contain clear expectations as to what services are provided and what those services are. Payment schedule. Cancellation terms. Termination clause. Indemnification clause. Cancelation-by-you clause.