Pricing Formula: How to create the right price package

Having trouble figuring out the right pricing package for your Magazine Photo Booth?

Don’t worry, you’re in good company. Let’s walk through some tips and tricks to help you create the perfect pricing strategy for your business!

Whats one of the biggest mistakes in pricing? Just copying what a competitor charges without digging into the “why” behind it. It's super important to look deeper at what really goes into setting your own price. First things first, let's talk about your event costs. We're not just talking about the obvious things like transportation and decorations—it's everything, from labour costs to little details like fuel. 

For example, if you own your van or truck, you’ve already got an advantage because you're not forking out cash to rent one for every event. Or maybe if you've mastered the art of creating reusable floral arrangements or have someone on your team who has, you will be able to cut down costs. 

To get to the final figure your client pays, you add all your expenses AND add on your profit. Don’t price blindly as you risk running an event at a loss! 

If your prices are too low, you’re leaving money on the table. Too high? You might scare off potential clients. Finding that sweet spot is all about balance—what price keeps your clients happy without you sacrificing your hard work? 

It’s all about balance 

Finding that sweet spot is all about balance—what price keeps your clients happy without you sacrificing your hard work?  And remember, not everyone wants the same thing. Some clients are all about those pre-designed decor packages, while others want something totally unique. Having options can help you appeal to a range of customers and make sure you're hitting your profit goals on every event.

Get a little extra with it

Think about adding those little extras that make your booth stand out—like candles, custom floral arrangements, or personalised décor touches. People love something that feels exclusive, and those extras could be just the thing to set you apart and boost your earnings.

At the end of the day, clear communication with your customers is key. Let them know what they’re getting for the price and be transparent about customisation options. The more open you are, the more they'll trust you—and that’s the best way to build loyalty.