Obviously there is no single price, or typical price. Fees will vary based on the type of events, the complexity, location, state etc.
If you are starting out and wonder how much to charge, you should first consider what is typical around you. Just like in real estate, location has a significant impact on price. Feel out the competition to find out.
That being said, there are several basis for fees. First, let's explore them.
Event planners may choose to get paid based on an hourly rate. This is the billable hour model.
In this case everything should be billable: meeting with clients, onsite visits, execution on D day, etc. The average hourly rate might be around $75 per hour. Do consider that some wedding planners will easily request between $100 and $300 per hour, according to wedding wire. When using this method, planners should have a very good way to track all their time for each client.
Another typical pricing method is to charge a percentage of expenses.
15%-20% is an accepted range and it works well when the total cost is high enough to make it worthwhile for planners.
Keep in mind this: in the US, the national average is a fee of $1,500 for wedding planning, with most people spending between $1,000 and $2,500 on a professional.
Another consideration is the type of service offered.
It could be a smart idea to offer prepackaged tiers of services, each with different prices based on what the planner does. This makes it a lot easier to manage and scale an event planning business. It also makes it clearer for the client what is included and what is not.
A simple package could be simpler wedding coordination, and scale up to full service including wedding design.
The alternative is "a la carte", when the planner can offer a very wide range of services, selected specifically for each client.
When it comes to the total cost of a wedding, according to the Knot survey, is $19,000 in 2020, including ceremony and reception. This total was highly impacted by restrictions etc. In more favorable, but recent times, the total was between $23,000 and $28,000. Obviously this is an average and cost will vary greatly depending on state.
The bonus question is "what is the cost for a baby shower?"
Throwing a traditional in-person baby shower for 50 guests would typically cost $1,000-$1,500. This would include renting a space, food, etc. Consider an average of $15-$30 per attendee. Of course, smaller showers or at home would cost a lot less.
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