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The Magic Cafe Forum Index » » The little darlings » » When do you increase your fee? (3 Likes) Printer Friendly Version

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Starrpower
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It depends upon the market. If it's birthdays, it really doesn't matter; I change those when I feel the need. But if it's an annual thing, like libraries, scouts, or school shows, I do it at the start of the season. I have high school proms and graduations that I have done for years and years, and I increase those by $50 each year and nobody has stopped booking me yet. I took hits both after 9/11 and '08; people cut back and changed they way they did things and I stopped raising rates (and actually reduced some), but now I am working back up to the "good old days" pricing.

I wish I could remember who I got this from, but someone once said if you lose roughly half your shows due to rates, you are probably at the right place. This assumes you are getting enough shows, though. If you are getting 5 inquiries a month I'd hate to lose half of them (not to mention the difficulty of doing that half-show)!
Bill Hegbli
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I can't believe what I have just read on this forum. Raise prices because a person thinks it time to change more. Lower your price to cut into your costs and profits, just to satify a price shopper. Don't get it!
Starrpower
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What part don't you get, Bill? It's free enterprise. There's nothing wrong with adjusting to the market; in fact, it's smart business. I did not hear anyone suggest they'd do this at the expense of a good show, or fail to deliver value for their dollar.

The President just got done telling me he is going to raise taxes on some people and not on others. Why can't I raise my show fees?
Dynamike
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Quote:
On Jan 20, 2015, Starrpower wrote:


The President just got done telling me he is going to raise taxes on some people and not on others.

Don't worry. He meant the rich business only.
Starrpower
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Ok, so we'll only raise our fees for rich businesses.

My point is, everybody raises rates. It costs me more to mail out a contract, drive across town, insure my vehicle and feed my family than it did 10 year ago. Why shouldn't I raise my rates? I am unclear on what Bill finds so distasteful.
vincentmusician
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There are many factors when deciding on fees. For me, every show and customer is not the same. So I do not have a one fee fits all situation.
hugmagic
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Karrell Fox said when you get too many shows..raise the fees. You make the same money with less shows.
As for the politicians raising taxes, no matter who they say will pay the new taxes, we all will end up paying a portion of them.
Richard E. Hughes, Hughes Magic Inc., 352 N. Prospect St., Ravenna, OH 44266 (330)296-4023
www.hughesmagic.com
email-hugmagic@raex.com
Write direct as I will be turning off my PM's.
Dan Ford
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I raise my prices when it is not worth my time and effort for the price I am presently charging.
RNK
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Quote:
On Jan 20, 2015, Dynamike wrote:
Quote:
On Jan 20, 2015, Starrpower wrote:


The President just got done telling me he is going to raise taxes on some people and not on others.

Don't worry. He meant the rich business only.



Very true which in turn will cause the rich business to raise their prices causing us to pay more. Oh well. We can never win, lol...
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