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Pricing Check (Have Numbers)

post #1 of 3
Thread Starter 

Hi all, hosting and executing my first event alone. Client is wealthy, done in a beach house

I have a private dinner for 8, buffet style

 

Food cost is $182

Labor roughly 12 hours (7 hours prep + 5 hours event)

 

So I was thinking:

 

$182 x 3 = $546

12 hours x $50/hr = $600

Transportation round trip= $40

 

Total = $1186?

Does this look okay?

Also should I write a contract and require a deposit for food?

 

- Thanks

post #2 of 3

If you go to a restaurant, yes they charge roughly 3x the food cost; but they don't turn around and put an additional labor charge on top of that. The 3x food cost covers the labor cost. So basically what you are proposing is charging $150 for a meal the client could get in a restaurant for $70. Put that way, how does it sound to you?

 

I am a tightwad, so it would be a no go for me as a client. Some people have more money than brains though, so who knows? If you can get it, sure it sounds good. If you can't get it, time to reconsider pricing structure.

 

Yes on contract and deposit.

Wisdom comes with age, but sometimes age comes alone.
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Wisdom comes with age, but sometimes age comes alone.
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post #3 of 3
At that pricing scheme you wont get to many deposits or contracts. Your client didnt get wealthy being a fool with his money.

That said, on the rare occassion I would do something like that kind of gig I would go X4 and leave it at that. For your 12 hour investment you are making almost 50$ an hour and I would guess that the tax man may not be involved.
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