How to Price Your Event Planning Services: Conferences vs. Luxury Retreats
Today, we’re diving into one of the trickiest parts of being an event planner: pricing your services. Whether you’re new to the game or looking to refine your approach, this post will give you actionable strategies for two popular types of events: corporate conferences and luxury retreats.
I use different pricing models for each, and I’ll break them down so you can confidently charge what you’re worth. Let’s get into it!
Pricing Corporate Conferences and Meetings
For corporate events like conferences and meetings, the industry standard is to charge 15% to 25% of the overall event budget. Here’s how to apply that range:
How Much Should You Charge?
- A $50,000 event budget typically supports a smaller conference (about 50 people for a 4-5 day meeting). At 15%, your planning fee would be $7,500.
- A $100,000 event budget might include 250 attendees with meals, networking receptions, and banquets. At 15%, you’re looking at $15,000.
If you’re new to planning conferences, consider starting at 12%-15% to build your portfolio. As you gain experience, don’t be afraid to increase your rates, especially if you consistently deliver exceptional results.
When to Raise Your Rates
If you have a team, charge closer to 20%-25%. Higher rates allow you to cover overhead expenses, such as contractors or full-time employees. On the other hand, if you’re a solopreneur (like me!), you might find that 15% works well, leaving you fairly compensated for your time and effort.
Pro Tip: Add travel expenses on top of your planning fee. This ensures your out-of-pocket costs are covered.
Don’t Forget About Commissions
If you’re a certified planner with an IATA or CLIA number, you can earn commissions from hotels. These typically range between $1,500-$2,500, depending on the sleeping room rate. While commissions are a nice bonus, I recommend pricing your services without relying on them because you are relying on someone else to sell THEIR event so YOU make money. Not being fairly compensated is devastating.
When collecting commission, transparency is key—always disclose to your clients if you’re earning a commission. For a little more administration, you could have you base price then reduce the amount owed by the actualized commission- here’s an example:
Your price is $7,000 to plan an event. You are able to earn a commission of $2,000 on an event. If you consider the actualized commission, the client ultimately owes you $5,000 and the hotel will pay you $2,000 in commission making your event planning service fee complete.
If you want more on this technique– take a photo, post it to your IG story and tag me and I will answer any questions.
Pricing Luxury Retreats
Let’s shift gears and talk about luxury retreats. These events are high-touch, high-energy, and demand more creativity and personal involvement. They also take significantly more time—think 300-400 hours of planning, client calls, research, and on-site support.
My Pricing Model for Retreats
For luxury retreats, I charge a flat fee between $7,000 and $10,000. This fee reflects the intense energy and attention required to deliver a seamless, white-glove experience.
Here’s why I charge a flat fee instead of a percentage:
- Retreat budgets vary widely, and I often use non-commissionable services like villas and boutique vendors.
- My focus is always on what’s best for my client and delivering their dream retreat experience and not on maximizing commissions.
Setting Your Annual Goals
Pricing isn’t just about the math—it’s about your lifestyle and business goals. Here’s a step-by-step approach to align your rates with your ideal workload:
Decide how many events you want to support annually.
Let’s say your goal is 12 events per year.Factor in prep and recovery time.
Add a week before and after each event for preparation and to recharge your energy to avoid burnout.Do the math.
At $7,500 per conference, 12 events bring in $90,000 gross annually. If this isn’t enough, consider raising your rates, adding team to support more events, or adding additional income streams.
Final Thoughts
Pricing your event planning services is both an art and a science. A delicate dance between what the market will pay and your time.
Start with these recommendations, but don’t be afraid to adjust as you grow. Remember, your time and expertise are valuable, and your fees should reflect the energy and care you pour into every event.
If you need more support establishing your thriving event business, I have close proximity event business mentorship– you can apply to work with me HERE.
As event planners, we want to make a LOT of money while doing what we love: Planning Events. But burnout is real between traveling, supporting events, and keeping up with all the admin that comes with it. Check out How to Avoid Burnout As An Event Planner