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Business

How do I determine my fee for party packages?

July 01, 2009

I would like to offer packages such as little girls party packages and bridal party packages. Now how do I determine how to base my fee? I would like to have one flat rate.

Answer

I don’t think a flat rate is workable since your fee will be determined by the number of customers and technicians at the party. To establish a price, you need to consider your rate per hour, or rate per minute. If you were to charge $45 for a 60-minute pedicure, your rate is $45 per hour, or 75 cents per minute. If the guest will be spending three hours on the party, you need to charge at least $135 ($45 x 3) per tech. You also have to consider what additional overhead is involved. For instance, are you serving refreshments?

A minimum guarantee is a must. I would also suggest a 50% deposit with at least a 72-hour cancellation policy in place. You should also consider a call to action aimed at the party guests. Offer to re-book them today only at a discount, or offer a certain percentage off on retail purchased that day.

 – Heather Goodwin is a certified success coach with Inspiring Champions.

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