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Thread: Warning! Price thread alert.

  1. #21
    Jim - Scotland's Party DJ's Avatar
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    Quote Originally Posted by Excalibur View Post
    The prospect of " clear blue water" between me and Sid is simultaneously appealing and frightening. It's a big leap of faith, and I'm an old bloke, set in his ways. People have been urging me to raise my prices for years, and it's taken a global pandemic to kickstart the idea!
    I'd written a pretty long response last night but it's disappeared into the ether when I hit post for some reason!

    Anyways. Someone who is seriously considering booking me at my fees isn't all of a sudden going to be swayed and end up booking the guy who is a fraction of my price so that's never a consideration. If my prices were much closer to Sid's then it can become a consideration because the perceived value is much closer.

    i.e.:

    Remember holidays?!?!? If we were booking a wee weekend away, I was more likely to try and save money here and there looking at different flights, cities and hotels, cost of beer etc... compared to the big holidays where we went - 2 weeks in Vegas, it, let's get it booked. No messing about looking for cheaper ways to get there via 17 changeovers or hiring an AirBnB a 20 minute taxi journey from the strip.

    I've just purchased a silver tip badger shaving brush. It cost nearly 100 but knowing that it's going to be better quality and produce a better end result than cheaper brushes, I wasn't scouring through synthetic brushes or anything under 70. When I first start using these brushes, the cheaper ones, it was simply a case of which one is on the shelf or which will be delivered quicker. [sidenote: I get spending money on something like that is a bit off brand during a pandemic where people are struggling but for something I'll use every day or 2 for years to come, it's not a totally shameless spunking of money against the wall]

    Our services are the same.

    What I would say is if you're going to differentiate yourself on price and get away from the Sid zone of influence, you need to look professional and come across as unique.

    I've no idea what you charge Peter but having had a quick look over your website - does it look professional, to an extent yes but it doesn't scream high end to me. More importantly, I don't see anything on it that would convince me as a consumer that you're any different or worth any more money than the dozens / hundreds of other DJs out there with OK looking websites. If you are going to go for it, this is the first thing I'd address.

  2. #22
    Disco Dude! DeckstarDeluxe's Avatar
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    Quote Originally Posted by ppentertainments View Post
    Client meetings is the big one.
    But no, you are correct actually.
    Work smarter, not harder and all that.

    I'm one of the most expensive in my area and I do a surprisingly low amount of client meetings. Few skype calls here and there but certainly not loads more work.

    You do have a few guys who touch on the all day service/MC stuff which yes is more work, but means they can work less days for the same turnover.
    The Cheltenham Wedding DJ
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  3. #23

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    Quote Originally Posted by DeckstarDeluxe View Post
    You do have a few guys who touch on the all day service/MC stuff which yes is more work, but means they can work less days for the same turnover.
    Even that doesn't need masses of work - certainly not for my clients.

    I thought it did originally, but my clients don't want too much - the value I provide is in someone being there to keep the day on track and provide some structure and support.

    Where the justification for long client meetings came from was tied up with the American 'love story' and other interactive moments that required a lot of prep - not only from the DJ, but also I was seeing long documents the clients had to fill in. Now I'm not saying that is 'wrong' - but that wasn't what I offered because my clients didn't want that.

    My clients are time poor - often working both working stressful, long hours jobs. They hire me so that I can 'get on with it'. A few emails or a chat on the phone with them at the time of booking, and a chat on the phone a few weeks before the wedding, and a relatively short online planner for them to complete in between.

    On the day, I'm always one step ahead of them, I guide them through the day, and let them know what is about to happen. They value my experience of having attended so many weddings that I know what is the best way to execute things to make everything smooth.

    I give them a stress free day.

    That is what they are paying for.

    In my eyes, the all day bit is my upsell from the evening entertainment. They hire me for that initially, but see the value in me being there all day.

    So yes, on the day it's a longer day, but it doesn't actually require much more additional work in advance of the day.

    For the all day part, essentially, they're paying for my experience and knowledge more than anything.

  4. #24

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    Quote Originally Posted by rth_discos View Post
    ?

    Why do they have 'more work involved'?

    It's a fallacy to think you have to work 'harder' to be paid what you are worth.
    Well, can't thank you enough.

    Thought about what you said, to be honest my heart isn't in it anymore so what do I have to lose ??

    50% increase on fees yesterday, 2 bookings this morning. Same service, nowt fancy, just providing a disco.

    Release a new 'Grand Package' (Yes it costs 1000) and had a bit interest with people wanting to upgrade.

    Suppose every other business out there will have to recoup losses, why don't we ??

  5. #25
    Imagine's Avatar
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    Quote Originally Posted by ppentertainments View Post
    Well, can't thank you enough.

    Thought about what you said, to be honest my heart isn't in it anymore so what do I have to lose ??

    50% increase on fees yesterday, 2 bookings this morning. Same service, nowt fancy, just providing a disco.

    Release a new 'Grand Package' (Yes it costs 1000) and had a bit interest with people wanting to upgrade.

    Suppose every other business out there will have to recoup losses, why don't we ??
    My prices traditionally go up on 1st March.
    I was planning to hold with what I was charging last year, because....well I didn't actually charge anything last year

    However....I'm now in the position where I have a job which "sort of" pays the bills so not in a desperate hurry to rush into a Covid infested environment again any time soon.....I can wait.
    I've just increased my prices by quite a bit...nothing gambled, nothing lost. There's now an entire OCEAN between me and the local Sidney. We shall see what happens

    Chris - what are you doing for the Grand package? Is it just the evening or all-day?

  6. #26
    Dinosaur Excalibur's Avatar
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    Quote Originally Posted by rth_discos View Post
    Now is the perfect time to increase your fee. Whack it up for anyone who enquires about any remaining date you have this year or next year.

    One of the most important aspects of getting the fee is being confident in the fee. When you are fully booked and don't 'need' the work, it's much easier to ask for a higher fee.

    Try doing it when staring at an empty diary and it's much easier to be nervous and quote a lower price 'just to get the work'
    .
    It is indeed.
    Excalibur. Older than the average DJ.

    www.excaliburmobiledisco.co.uk

  7. #27

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    Quote Originally Posted by ppentertainments View Post
    Well, can't thank you enough.

    Thought about what you said, to be honest my heart isn't in it anymore so what do I have to lose ??

    50% increase on fees yesterday, 2 bookings this morning. Same service, nowt fancy, just providing a disco.

    Release a new 'Grand Package' (Yes it costs 1000) and had a bit interest with people wanting to upgrade.

    Suppose every other business out there will have to recoup losses, why don't we ??
    Excellent news, I'm pleased to hear it worked for you.

  8. #28

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    Quote Originally Posted by Imagine View Post
    My prices traditionally go up on 1st March.
    I was planning to hold with what I was charging last year, because....well I didn't actually charge anything last year

    However....I'm now in the position where I have a job which "sort of" pays the bills so not in a desperate hurry to rush into a Covid infested environment again any time soon.....I can wait.
    I've just increased my prices by quite a bit...nothing gambled, nothing lost. There's now an entire OCEAN between me and the local Sidney. We shall see what happens

    Chris - what are you doing for the Grand package? Is it just the evening or all-day?
    I increased mine as have decided I want a job too, so less DJ work - thinking about pensions etc, so increased prices to try and have less work, same money. If things stay the same may be looking at 2 price increases in a week haha

    My Grand package is an all day package - well, for a grand 1000. The play on words actually seems to be more appealing than I first thought lol.

    The pricing thing really is baffling me if honest though. For example making 1000 for a days work (more for a lot of people) which lets be honest isn't exactly challenging, whereas this would currently be almost 3 WEEKS work during my covid employment.

  9. #29

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    Quote Originally Posted by ppentertainments View Post
    The pricing thing really is baffling me if honest though. For example making 1000 for a days work (more for a lot of people) which lets be honest isn't exactly challenging, whereas this would currently be almost 3 WEEKS work during my covid employment.
    Remember there's a difference between turnover (what you charge for a wedding) and profit (what you actually take home after costs).

    Assuming you are currently employed, your take home is after tax.

    Once you take into account the costs of marketing, running the business, depreciation of equipment and other associated costs, including the account, etc, the take home is much lower. But should definitely be higher to account for the risk you take of running your own business.

    Your tax return from 2019/20 will reveal all - look at the difference between your turnover and what you are actually left with after expenses and tax are taken off...

  10. #30
    Jim - Scotland's Party DJ's Avatar
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    Secured another booking yesterday within 30 minutes of my quote being sent out.

    I've decided to crunch the numbers for next year (2021 still looking like a bust up here unless Sturgeon gets her finger out) and to be honest, if I can book another 5 gigs (taking me up to a whopping total of 20) I'd be happy with the turnover, anything over and above that would be a bonus. Makes a big difference to doing 40 weddings a year which is what I was averaging pre-COVID.

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