What Are Your Clients Paying in Your Area?

Dear Readers,

 

Happy Monday!

 

Having the chance to travel around the world has given me the wonderful opportunity to speak to a number of planners, vendors, florists and others in the event industry.  When the topic of pricing comes into play, the conversation can become quite colorful.  I have recently heard the following statements:

 

“My clients would never pay $75.00 to rent a tablecloth for their wedding.”

 

You must be joking if you think my brides will pay $500.00 for a centerpiece.

 

And my favorite from a dear friend, a florist,  “I tried charging a bride $350.00 for her bridal bouquet and she told me I was crazy. She said it was more than she paid for her dress.”

 

I have personally been accused of living in the bubble known as New York City on more than one occasion. Here, it is not uncommon for a father to spend $100,000 for his daughter’s wedding without blinking.  The truth is, there are many different markets with varying price points.  In today’s blog, I would like to ask what you think your brides are comfortable paying for the following items and services. I would like to use the information as a tool that all of us can use.

 

How much do you think a bride would pay for..

 

Floral table centerpiece?
A. $150.00 or less
B. $150 to $500
C. $500 or more
Usual comment:  I don’t understand why centerpieces should cost so much. They’re just flowers.
How do you respond?

 

Bridal Bouquet?
A. $100 to $200
B. $200.00 to $300.
C. $300.00 or more
Usual comment: A bouquet only consists of just a few flowers! How could it possibly be that much?
How do you respond?

 

Planning Fee  (full planning spanning a few months)?
A. $1,000 to $10,000
B. $10,000 to $20,000
C. $20,000 and over
Usual comment:  I already did most of the planning by hiring some vendors, why do I need to pay this full amount?
How do you respond?

 

Tablecloth Rental?
A  $0.  They only use cloth provided for free from venue.
B   $25,00 to 50.00 per table.  In order to make it more exciting.
C   More than $50.00
Usual commentDo I get to own the tablecloth? I’m paying for it after all..
How do you respond? 

 

Please remember, this exercise is not about telling us what you charge, but more about what prices are acceptable in your area. I am very curious to learn more about your area and this may also help other readers to learn not to undercharge.

 

Blessings,

 

Preston

 

(Photos courtesy of Pinterest)
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