How Event Planners Make Money: A Comprehensive Guide

Event planners are experts in creating memorable experiences for their clients. They use a “cost plus” method to value their service fees, which is typically between 10 and 20 percent of the total cost of the event. Additionally, they can secure event space through venues that offer a commissionable rate. Social media is also a great way to attract new customers, as 46 percent of brides are influenced by a provider's presence on social media. Word of mouth is also an important factor, as 74 percent of customers say it influences their purchasing decision. Event planners can also make money by selling alcohol and food, and by charging an hourly rate for services. They can also become experts in planning virtual events due to the rise of virtual events due to Covid-19. Finally, they can specialize in certain types of events such as baby showers, bachelorette parties, corporate events, and more. In this article, we will discuss how event planners make money and how to price your services.