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Rocketeer Special user Westchester, NY 965 Posts |
I have heard of the following theory on kid show pricing and I'd like to know what the more experienced members think of it.
Average kidshow price = (average house price in the locale/1,000) In other words, if the average house sells for $250,000 a kidshow magician might charge about $250. If the average house price is $175,000, then the kidshow prices might be about $175. OF COURSE there would be many other factors involved, not least of which is the experience and talent of the magician, region of the country, local competition etc. And in some parts of the country real estate prices have gone through the roof. Also, I'd imagine the correlation might weaken in very expensive communities (e.g., I imagine very few performers can command over $500 a show, even in a community of $1 million dollar houses.) OK. There you have it. Is this whole idea crazy or does it have some merit?
I'm selling my hardcover autographed limited edition copy of Jerome Finley's "Thought Veil"
PM me for info. |
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threecardmonte Loyal user 278 Posts |
It sounds like a good theory, but has some problems. In my performing radius, there are houses anywhere from $50,000 to 3 million. I think it also depends on the performer. Someone who has a good show will do better than somebody who has a mediocre show.
I think there are as many theories about pricing as there are magicians. I think it comes down to checking what your competion charges, then adjust your price on what you think you are worth. But if you are the only magician in a small town, this formula may be a good place to start. |
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Payne Inner circle Seattle 4571 Posts |
Don't think that that's going to fly. Where I live the median house price is around 500,000. I don't think I'll be booking many $500.00 birthday parties in the near future.
I guess before quoting a price you could look your prospective clients address up on Zillow and adjust your rate accordingly.
"America's Foremost Satirical Magician" -- Jeff McBride.
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Kent Wong Inner circle Edmonton, Alberta, Canada 2458 Posts |
How do we know realtors aren't using the opposite formula?
Average house price = cost of magician in the locale x 1000 Just a thought. Kent
"Believing is Seeing"
<BR>______________________ <BR> <BR>www.kentwongmagic.com |
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Amazing Magic Co Inner circle 1715 Posts |
I wish this were true. If I wish hard enough, can I make it so?
Dan. |
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Rocketeer Special user Westchester, NY 965 Posts |
I think you may be on to something magicman.
I'm selling my hardcover autographed limited edition copy of Jerome Finley's "Thought Veil"
PM me for info. |
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Dennis Michael Inner circle Southern, NJ 5821 Posts |
So I put thme on hold type their address in on a special internet page to determine thier house price, then get back and say $150 or $75 or $250?
To wide of a difference. I really don't like that idea. When friends talk one is going to want to know why they paid $50 more. Not good.
Dennis Michael
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Ryan Price Special user winnipeg, MB, Canada 641 Posts |
I completely agree, you cant have your prices change as you go from street to street. Pricing all comes down to work. You figure out how much work you want and find the happy medium of work and money earned
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Potty the Pirate Inner circle 4632 Posts |
I agree with Glamourboy. You should charge what you think your show is worth. If you overcharge, you'll soon get no more work. If you don't charge enough, you'll get too much work, and can put your prices up.
If you're just starting kidshows, I recommend telling your prospective clients this, and giving them a substantial discount for the first few shows. But a word of warning on being too cheap - cheap gigs means cheap clients, and they're the toughest crowd to please. |
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magicgeorge Inner circle Belfast 4299 Posts |
The only reason this theory has any credence is simply because in this point in time it work-outs occasionally and seems like a clever theory. In actual fact there are too many factors to give this theory any serious thought.
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todd75 Inner circle 1277 Posts |
I ageee with the above! I think and feel that you should have the SAME price for every client. Is it fair that client A who lives on such and such street has to pay more because she lives in a bigger house? No it is not!
I don't want to sound cocky but this is a really bad idea! You are basically saying that based on someone's neighborhood, this means they have more money and therefore they should pay you more. Think about it for a moment. If you went to a nice place to eat dinner and when you arrived you were handed a menu without any prices. The waiter informs you that the price of a meal is based upon the kind of car that you pulled up in. In other words, if you came to eat in a Ford Tempo, you pay $10.00 for your meal but if you came in a Lexus, your meal is $20.00 I am not trying to sound like a jerk but everyone deserves the same amount of respect and the same price for a service. Let me ask a question: If you had 2 back to back parties on the same day amd they were both the same show and the first one was paying you $150.00 and the other was paying $200.00- does this mean that the 2nd client gets a better show because they payed more? Just a thought.... |
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nucinud Inner circle New York, New York 1298 Posts |
Houses in my area sell for $600,000.00 and up.
I do not think people would pay $600.00 for a kid's party.
"We are what we pretend to be" Kurt Vonnegut, jr.
Now U C It Now U Don't Harry Mandel www.mandelmagic.com |
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calamari Elite user The San Francisco Bay Area 429 Posts |
Todd75, so you think one price for everyone is best? say it is $250.00, someone making $100,000.00 a year says ok no problem, and then someone making $24,000.00 a year says well that's a little steep I cant really afford you right now maybe next year when my wife gets back on her feet and back to work etc... how would you handle this
1. turn away business 2. cut a deal (some money is better than no money) plus just because these folkes don't make as much do they deserve less for their children? 3.? please don't take this wrong I am just curious how others handle this Rich
"I came, I saw, SHE conquered." (The original Latin seems to have been garbled.)
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Marvello Inner circle It's amazing how little I can say in 1612 Posts |
I don't think that Rocketeer is suggesting charging different rates depending on how much the client's house cost - he said AVERAGE cost of houses in an area, and AVERAGE cost of kid's shows.
Never criticize someone else until you have walked a mile in their shoes. Then, when you do criticize them, you will be a mile away from them and you will have their shoes.
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threecardmonte Loyal user 278 Posts |
Calamari,
Unless it is a close personal friend, I would never cut my price. If they say it's too much, I would thank them for calling and tell them if I can help them in the future, don't hesitate to call. |
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todd75 Inner circle 1277 Posts |
Calamari:
I understand! To be honest with you, I don't adjust my fee. Everyone pays the same price in a certain area. Of course if I am having to travel than the fee goes up but it's always the same in one area for everyone. I also don't "cut" my fee down because someone thinks I am too expensive. This is how I pay my bills and put food on the table so I cannot afford to make price shoppers a "deal." To answer your question, my fee is my fee and if they cannot pay it, I don't worry about it. There are always going to be less expensive performers in every market. |
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Rocketeer Special user Westchester, NY 965 Posts |
Quote:
On 2006-06-09 12:29, Dennis Michael wrote: It appears I should have made myself clearer. I was not advocating charging different prices for different neighborhoods. It didn't even occur to me that it could be construed that way. Of course you'd have only one price for a given show. I'm talking about prices in a particular *market* what one would charge for *all* of one's shows.
I'm selling my hardcover autographed limited edition copy of Jerome Finley's "Thought Veil"
PM me for info. |
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nucinud Inner circle New York, New York 1298 Posts |
Calamari,
I would ask them what their budget was, and see if we could help them out. Maybe do a shorter show for example.
"We are what we pretend to be" Kurt Vonnegut, jr.
Now U C It Now U Don't Harry Mandel www.mandelmagic.com |
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danryb Special user 506 Posts |
If someone wants something enough, they will find a way to pay for it - no matter how much.
it is up to you to learn how to sell your service for whatever price you give. having said that, I recently upped my prices and now sell two different (birthday) acts at two diferent prices. it is up to me to sell the more expencive show to as many potential customers as possible but no, it is not ethical to raise these prices simply because some of these clients make more than others. another view I have on pricing and as much as I hate to say it, is the fact that children party magicians are generaly isolated within a price category that the market reads. both upstate markets and low income markets can all find quality murchandise and services at low costs these days because 1. shopping around for the right price is half the fun for the consumer and 2. there are so many shos availabe to todays customers. wether you sell magic shows or beansprouts, if you are not a really, really wellknown brand, you are going to have to sufice with what the market reads even though you know you are worth more or if the market can afford to pay more. also, MagicGeorge said it, the sums Rocketeer mentioned are just phazes of real estate value and have nothing to do with the price of butter in Poland or the going rate or price of your magic show. If you want to sell your show for more money, become a better, well-known magician faster. enjoy, Dani |
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calamari Elite user The San Francisco Bay Area 429 Posts |
This is always a tough area for most magicians, pricing... I know I looked and asked for info when I first got started and there was not much help available. Most of the magicians I met (at club meetings or wherever) were not very forthcoming with information, I don't know if it was they did not want to tell me or were afraid they would sound cheap, because they too had no idea what to charge.
I am just saying it would be nice if there was a formula that worked, I am sure it could help a great many folkes get stated, and might even help stop price undercutting by new or novice magicians (some undercutting might be due to just not knowing what to charge) hopefully magicians will learn to be more open and talk freely like here about such things. Rich
"I came, I saw, SHE conquered." (The original Latin seems to have been garbled.)
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