How much should I charge for a Disco |
| Date Added: Mar 18, 2008 |
Hourly Rates and Fee's The best way to start out is to charge the average for your area. This way you are not to expensive, and not too cheap either. To work out the average you need to contact 4 local D.J's with an enquiry for a typical event, say a Wedding Reception, at a local hotel for 7pm to 12.00 finish. Write down the four quotes, and then do a basic bit of Maths. Quotes from your local competition are £140, £190, £145 and £160 Add these Together:- £140 + £190 + £145 + £160 = £635 Divide this total by 4 (or the number of quotes you got) = £158.75 Round up to the nearest full £10 figure, so £158.75 round up to £160 Charge your own clients £160, which would be an average fee. Many D.J's have to start out by undercutting other D.J's locally in order to win business. There are some points about this which you may like to consider. First of all, being the cheapest isn't always the best move especially for those with little experience. Clients may be suspicious of any new disco on the block, providing a service for below the going rate, they may feel that by being the cheapest that you aren't good at the job. Of course this is the direct opposite of what you intended it to do. If you are confident about the service you provide then why undersell your abilities? or Underprice yourself. Always charge the going rate, or average fee for the area. You may have to work twice as hard on promoting your business and spend more on advertising, but being the cheapest is not really a viable option. You also need to keep accounts. If your Disco is run alongside other self employment or a full time Job, then you'll probably have to pay tax on every penny of profit you make. So don't forget to factor in these costs as well, and any accountants fee's!. Regular Bookings are a good way to win regular work, and a good P.R excercise at the same time. Pubs and Function Rooms may expect a discount in return for a diary full of bookings, or a full block of bookings over the Xmas period. Depending on the amount of work given you can negotiate a discount. An fair idea would be 20% if the booking was on a weekly basis, or 10% to 15% if it was just a short run of bookings. Don't forget that if you have a residency you may be able to leave all or part of your gear set up all of the time, making the Job easier for you. Charity Events You will probably be approached by numerous charities every year, each wanting to obtain your services cheaply or for nothing. Every year I do one Free function for a nominated charity, and then a small discount to any registered charity event, booked during the rest of the year. Charity events can be a good community P.R excercise. If you decide to help a charity out on price, then also negotiate advertising in return for your services. Perhaps a free ad in their newsletter, or a sponsor announcement in the local press. |
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