Friday, January 8, 2016

12 things to consider before setting your fee

After charging the same fee for I don’t know how many years. I decided to increase it for 2016. I got cold feet with the very first couple who rang me two days ago. Could I really justify the increase, was my immediate thought.

One of the reasons many small businesses fail in the first five years of setting up, is that, like me, they tend to identify themselves with the client, rather than remind themselves that they are running a business.

If you are someone who has just put up your shingle, advertising yourself as a celebrant, setting a fee for your services will be one of the things you need to decide early. You will want to set a fee which you feel will cover your running expenses, plus allow you to make a profit.

But you also need to take into consideration what clients will pay for your services, given the competition already in existence.

Here are some questions you might like to consider.

1. What is your aim in becoming a celebrant?

2. Why should clients come to you, instead of using any one of the other celebrant around.

3. What particular strengths and talents have you got to help you in your celebrancy business?

4. What are some of your weaknesses that might work against you?

5. Who are your potential clients?

6. How old are they and how well off are they?

7. How do they perceive the celebrancy business?

8. What fees do the other celebrants charge?

9. Can you charge more and still attract clients?

10. Can you charge less and still be profitable?

11. What can you offer that is different and is of significant benefit to the clients?

12. What exactly are clients looking for – saving money, better service, convenience?

Remember, that in selling a product, whether it be soap or celebrancy services, it is possible to make money providing a high quality product at a high price, or a low quality product at a low price. Your business, however, will never survive if you try to sell high quality service at a low price or a low quality service at a high price.

Article based on ‘How to be a Profitable Celebrant’ by Vlady Peters

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