Have you ever wondered how wedding planners charge?
This is one of the most common questions that I get asked by clients and vendors alike. Every wedding planner does it differently, but there are some commonalities. Most wedding planners charge either by flat rate or by percentage. Flat rate is more common in Canada, but around the world many planners opt to use the percentage method.
Wedding Planners Who Charge Percentage Rates:
In this model, your wedding planner will charge a percentage of your overall wedding budget. This means that if your wedding planner charges 10% of your wedding budget, and your budget is $100,000, they will charge $10,000 for full service planning. The reasoning behind the percentage method is that typically the larger the budget of the wedding, the more intricate the requirements, and typically there are more vendors to manage. This also makes allowances if the scope of the work for the wedding project grows beyond the initial requirements when wedding planning began.
Wedding Planners Who Charge Flat Rates:
Most wedding planners charge a flat rate for service, whether it is for full wedding planning, partial wedding planning or month of management. This can be helpful for clients because the fees are outlined in the contract and do not rise above the contracted amount, regardless of the final budget. That being said, a flat rate cost for a planner may be out of scope for smaller, more intimate celebrations unless the planner also offers a percentage-based fee.
There isn’t really a good or bad method – it really comes down to the requirements of each event. The best tip I can offer to prospective clients is to ask about each package and for customization of you require it. Our team personally uses a flat rate approach, but each package is tailored to the needs of the wedding.