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gregkoren Regular user 164 Posts |
Please forgive me if this topic has been done to death, but I'm wondering what the going mileage reimbursement rate is for magicians? Is it the current IRS-approved rate of $.50 per mile for business? Or do we magicians observe a more arcane formula? Wondering, wondering...
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Jim Snack Inner circle 1338 Posts |
The current IRS rate is indeed $.50 per mile, and if I were charging mileage to a client, that is the amount I would charge. However, for most engagements it is better to quote an all inclusive fee that includes your travel expenses. Clients like a clear, simple fee quote.
Jim |
gregkoren Regular user 164 Posts |
Good advice, Jim. Thanks!
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Starrpower Inner circle 4070 Posts |
As stated, $.50 is correct, and I just want to add a "ditto." I always strive to make buying decisions easy for the prospect. Why add and add and add? Mileages, hotel, meals, etc. just confuses and puts people in a sour mood. I much rather stress the fee has "no hidden costs! I'll take care off all travel expenses!" It truly makes it easier on the customer, which makes for a happier customer.
And who doesn't want a happy customer? |
Benji Bruce Special user 930 Posts |
I do the same as Jim and just give them an all-inclusive fee. My fees are high enough that if I have to drive then gas is no problem (most of the time I rent a car if the gig is far enough for a long drive but not far enough for them to book a flight)
In "Selling the invisible" by Harry Beckwith he talks about taking away the fear of buying from you. When someone doesn't know exactly how much they are spending, they associate the lack of uncertainty with the fear of buying from you. But when you give them an all-inclusive fee, they don't have any surprises. |
Scott Burton Inner circle 1131 Posts |
Quote:
On 2010-12-02 12:59, Benji Bruce wrote: Interesting. How did you determine that it was more economical (or simply a preference) to rent a car for long drives rather than use your own? I had never thought of that but I could see that it may be a good idea. Just not sure on how you made this decision. I am interested to hear. |
Benji Bruce Special user 930 Posts |
Scott I made that decision a year ago when I was driving to a gig and someone almost recked my car. I would rather have a rental car get recked than my own.
Most of my car rentals happen in the winter because that is more likely when an accident can happen. I don't rent a car for EVERY gig I drive to. Only for the gigs where the drive is more than 3 hours and during conditions like heavy rain and snow. |
MichaelCGM Inner circle Oklahoma City 2286 Posts |
Quote:
On 2010-12-02 16:04, Benji Bruce wrote: Do you also add travel time in your quote? If so, how do you determine what to add? I do, since my time is my product. |
Benji Bruce Special user 930 Posts |
Quote:
On 2010-12-22 21:37, MichaelCGM wrote: I have an all inclusive fee so the rate is high enough to cover everything. For example...I did a gig in Salida, CO which is 2 hours from me but there were chances of snow so I rented a car. The fee for an hour strolling was $1800 and the car, w/ gas was no more than $70. So my fee covers the car rental easily. The only bad part was that it didn't snow so I didn't even need the car lol. But time is not money...results are money. Anyone who trades their time for money will never have a business; they will only have a high paying job. If you cannot leave your "business" for several months without losing money then you have a high paying job. But if you run a business based on results then you can "work" very little and still make TONS of money. That is why all the multi-millionaires have products, etc. So when they are not working, they are still making money. People do not pay for your time. They pay for results. (sorry...just a rant I tend to get into when hearing the words Time is Money) |
Scott Burton Inner circle 1131 Posts |
I agree with Benji but want to separate two elements:
1 - it is important for you to place a high value your own time (this is a mindset) 2 - you should sell your value/results (this is a sales approach) |
MichaelCGM Inner circle Oklahoma City 2286 Posts |
Quote:
On 2010-12-23 01:23, Benji Bruce wrote: Sorry if I wasn't more clear, Benji. What I was referring to was opportunity (which involves time). Suppose your show requires you to fly to aother city. One day is tied up at the airport, the next is to/from and during the show, a possible third day for return. Now, your single show is taking up two or three days in which you could have performed, perhaps two shows (availability notwithstanding). This is what I actually meant, regarding selling my time. OR... should I not be considering this aspect? Whadayathink? |
Benji Bruce Special user 930 Posts |
Ooooooo ok
Yes I add travel time but there isn't a "system" for adding the correct amount. I simply charge a fee that covers everything. I don't have a system that I go by to charge for travel time like X amount of miles equals X amount of dollars. It is more like..."Hmm how much do I want for this gig?" Most of the time, I quote an all inclusive fee which includes the plane ticket but I let them book the hotel because sometimes they can get a discount. An all-inclusive fee of $500 will not cover your expenses for the plane, hotel, food, etc. But a fee of $10,000 sure will (thats not how much I charge but I'll get there soon). Although one day is tied up at the airport, another performing the show, and another to return...I do not look at it as losing three days in which I could have performed. It should be looked at as having three days to get more clients (spin-off gigs) while getting paid to perform. More often than not, you don't have another gig on those days anyway. And if someone has called for one of those days then it makes you look good because you are busy. It's a win-win and the person who can't book you will know to call you several months in advance rather than one week A local entertainment agency wanted me to work with them and they said that if an entertainer is not performing 5 days a week then he is not successful. But if you have to perform 5 days a week to make money then there is something SERIOUSLY wrong with your business. So don't look at the days that you're not doing anything as days where you could be performing. Look at those days as to how you can work on your business by attracting more clients that you want to perform for. Instead of sitting in the hotel room doing nothing, work on better ways to get leads, think of ways to create a video that you can place on your website, etc. Opportunity to work "on" your business is better than working "in" your business by performing a gig for $25. |
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