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MichaelCGM Inner circle Oklahoma City 2286 Posts |
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On Mar 13, 2020, Mindpro wrote: Michael, what myriad of markets that magicians face are you referring to and how is untenable? How is not having anything below the bottom range not lowering the standards? Quite simply, Mindpro, the “myriad of markets” pertains to the innumerable markets entertainers find themselves in, from the Big Apple to Podunk USA, from large urban metropolises to minuscule rural villages and hamlets. In setting rates for what one believes one’s show is worth, one must consider the marketable rate for the market in which one intends to do business. Of course, if one is determined to charge rates that others in the same business insist are the “bottom range” for services, then one must be willing to relocate to those markets. If one has reason not to relocate to higher paying markets, then one must deal with what the market will bear locally. Since the OP was specifically for the birthday-party market, then answers should provide insight in that market, not how one can make an “executive living” NOT in the birthday-party market. Of course, one can make better money in the corporate field, as well as commercial events for children but that wasn’t the question, was it? I’m NOT saying that MagicJac should charge less in his market. I’m simply saying that his market is not the standard for all children’s entertainers, and to expect those in other markets to charge at least his “bottom range” of fees is untenable – which it definitely is. That said, MagicJac *may* have been making his statements specifically for those in his market. He didn’t exactly specify. I really don’t care what a person’s personal ability or experience in marketing for birthday-parties because if one comes to Oklahoma City and the metro area, asking for $285 - $365 for a birthday party, they had better have a day job because they will starve in this “birthday-party” market. One CAN compensate by offering up-sell packages, which I do quite frequently, or another 50-bucks to extend to an hour show, or extra fees for larger (more than 20 children) shows but asking more than $150-$200 for a half hour birthday party show will get one nowhere in this market. And, whether one wants to admit it or not, there are other small-town markets that won’t even bear what OKC will tolerate. It is ALWAYS about market – market – market. Anyone in marketing would (or very well should) attest to that. There are very few surfboard shops in Nome. |
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Mindpro Eternal Order 10576 Posts |
Thanks for your reply, Michael. I think we're talking about two different things when referring to the term market. You seem to be referring to it as in geographical markets ("from the Big Apple to Podunk USA") as I was speaking of performance markets.
While I understand what you are saying in reference to geographic markets, I would have to disagree with your perspectives. You can be anywhere and still have a solid bottom end and still excel at above-market pricing if approached properly. I help performers do this every day, everywhere. There are countless posts here of guys in distraught areas of Michigan, including Detroit that swear that can't make any kind of decent money in the school market there, where I and others I have trained regularly make decent four-figure pricing - consistently int these exact areas. Too many magicians get too hung up on what others are doing rather than focus on how they can do better/different and control their own market. |
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MichaelCGM Inner circle Oklahoma City 2286 Posts |
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On Mar 14, 2020, Mindpro wrote: We are not in disagreement about still having a "solid bottom end and still excel at above-market pricing." I am simply saying that the "solid bottom end" is NOT universal, and varies from one geographical market to another. If you are claiming that the dollar amount for the "solid bottom end" is exactly the same everywhere, then we do disagree. |
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MagicJac Regular user 166 Posts |
Yes Micheal correct markets or geographical areas are to be taking into consideration, all I am saying is we need to give ourselves value just like any other professionals, thanks Mindpro.
MagicJac Miami Fl |
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vincentmusician Loyal user Toronto 264 Posts |
What to charge? Get an idea of what performers charge in your area. I interview my customers and base it on distance, age, number of kids or Adults and venue. My Costumed shows are more. Most important, do not undercharge. Have respect for yourself and charge what you are worth according to your experience. I have found that people have money. If they want you they will pay. I had some customers tell me they could have got someone cheaper but they hired me. I asked why me? They said because of how I spoke to them on the phone. Cheers!
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MeetMagicMike Inner circle Gainesville Fl 3500 Posts |
Supply and Demand. Finding out what others charge is a starting place but doesn't determine your price. You may be able to charge more but you will not know until you test the waters.
Charging less is also a valid pricing strategy. Maybe your show packs small. Maybe you are starting out. Maybe you have a lot of energy and can do five shows in a day. Your fee is between you and your clients and no one else. |
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