As wedding celebrants, we’ve weathered the storm of the pandemic, continuing to offer our cherished services amidst unprecedented challenges. However, it’s time to acknowledge a critical aspect of our business that many of us have overlooked since before the pandemic: our pricing structure.
The year 2024 marks a pivotal moment for us to reassess and realign our service fees with the current economic landscape.
I’ve talked to three celebrants this last week that have already seen their own business expenses increase and they’re charging more than $2,000 including GST for a wedding. If they can, and if I can, then you’re allowed to as well.
What does inflation actually look like
For research I asked my dad for three different wages he’s made over his lifetime and compare that to house prices of the time.
It sounded like dad was earning more in 2015 than he was in 1988, but adjusted for inflation he was earning 36% less while house prices went from about one years wage to about six years wages.
And eight years on its even worse.
The Case for Price Adjustment
Inflation and Rising Costs: The reality is, our operational costs have significantly increased. Fuel prices, insurance premiums, marketing expenses, and other business essentials have all been subject to inflation. Maintaining pre-pandemic pricing in 2024 not only undermines the value of our services but also puts financial strain on our businesses.
Valuing Our Services: As celebrants, we bring unique, personalised experiences to each wedding. Our skills, time, and the emotional investment we make in each ceremony are invaluable. Undercharging not only affects our bottom line but also inadvertently sends a message about the perceived value of our work.
A Practical Approach to Price Increase
Choosing the Right Moment: Implementing a price increase can be daunting. A strategic approach is to select a date that is almost guaranteed to book out – think a Saturday in spring or autumn. Quote your new, higher price for these peak times. This method allows you to gradually warm up to the idea of a price increase and gauge client reactions.
Transparent Communication: Be open with your clients about the reasons behind the price hike. Explain how the increased costs of running your business necessitate this change. Most clients understand and appreciate honesty, especially when it comes to ensuring the high quality of your services.
The Math Behind the Move
Let’s talk numbers. If your operational costs have increased by, say, 15% since the pandemic, maintaining old pricing effectively means you’re earning less than you used to. A price increase, therefore, is not about making more money in the traditional sense – it’s about adapting to the economic changes to sustain your business’s health and your livelihood.
2024 is not just another year; it’s a call to action for all wedding celebrants. It’s time we adjust our prices to reflect the current economic climate, the quality of our services, and the increased costs of doing business. This move isn’t just beneficial – it’s necessary for the sustainability and growth of our cherished profession.
As members of the Celebrant Institute, we owe it to ourselves and our clients to uphold the value of our services. Let’s embrace this change with confidence and continue to provide exceptional experiences for every couple we have the privilege to work with.
