Inflation is something we hear all the time. We know businesses have to raise prices because the price of running a business is always rising, same as the cost of living. But how do we stop things getting out of hand and charging clients for luxury expenses?
This is not me having a dig at other DJs or their prices. I always try to set my fees based on three factors. What I need to keep the business running and make a wage, what I think my service is worth, and what I would actually pay if I was hiring someone else to do this job. Some more unscrupulous DJs prefer to go about prices shopping and getting fake quotes - not me.
I probably should be more expensive. I want to invest in the future of the business as much as any high end supplier. However I do a few things differently which impact the price I can offer to my clients.
Firstly I make a lot of the stuff I use myself. I've used my skills to build DJ booths, make T-bars and light stands, to convert all of my lighting to wireless DMX. I also use my skills to maintain my own website and social media.
I have stayed away from hiring a lock-up or office to work from. I know suppliers spending between £500-1500 per month for somewhere to meet clients or keep equipment. By focusing on DJing only I don't need a warehouse or storage. I can still offer these services by contracting out and often get good prices for clients, I just don't have to pay to buy or store them.
I don't go stupid on advertising. There are a few DJs who are pumping hundreds into Google Ads each month. Yes there get more clicks and come up in more searches but this doesn't mean a sale. Often they are too expensive and accessible only to those with a much higher budget.
All of the above means I can easily operate considerably cheaper than some of my competition. If my bills are say £800* less per month than someone offering a similar service, and I do around 8 bookings per month I can be £100 cheaper, if my bills are £1600 less per month, that is £200 cheaper. (*I used that figure for quick math).
I know there are some people who care a lot about image both clients and suppliers but remember if I turn up in a Vauxhall Combo or a pimped out DUB Caddy or Transporter 99% of your guests wont see, but if factors in the price.
I do try to be blatant and honest in my blog. My aim has always been to do the best I can for clients and being realistic and sensible with my pricing has been mentioned often in my reviews, if it matters to you - it matters to me.