As a mobile DJ business owner, you need to have clear and reasonable prices for your DJ services. When people start to look for a DJ, they tend to look at price first. It isn't always the lowest price they go after, but rather the best "bang for their buck." You need to have a fixed but flexible lists on all of your services and any other additional charges so you can provide incredible service and still get paid premium prices. Here are some tips on how to price you DJ services appropriately.
1. Research Your Competition
There will most likely already be plenty of other DJs in your area. When first getting started, one thing that can help you is cutting in under that competition with slightly lower prices. Search for the prices of your competitors to get a good idea of where you must price yourself. NOTE: Your REAL competitors are the high-end, professional DJs with lots of experience, NOT the hobby-Craigslist DJs. Calling different DJ's and inquiring what they charge in your market can give you an idea what price you should be offering for your service. Be sure to quickly raise your prices as you book more and more events and make more connections. Your ultimate goal should be to charge rates that are slightly HIGHER than the majority of your competitors.
2. Based on your Equipment
Your DJ equipment is one way to help gauge your prices. The better quality equipment you have and the more options you have for upsells (lighting, games, karaoke, etc) the more you can get away with increasing your rates. Although your guests and clients will not know much about your equipment, they will still be able to see it. They can tell the difference between under performing gear and high quality electronics. If you're just starting out, look for second hand equipment on Craigslist or eBay. As you book more and more events, re-invest into purchasing higher quality equipment. Once your business will start to grow, try to re-invest to higher performance equipments where you can charge higher price and rates of your services.
3. Delivering the Music
Delivering the music to people can also vary on how you should price your dj services. Practice how you should deliver the music in an appropriate manner. practice to make things well is necessary to help you out increase your price rates. As you perform on more and more clients, the expertise and confidence will come. So be in the way of practicing on delivering the music for it could be reasonable to increase your services rates with your performance.
4. Type of Event
Some events will call for more work, preparation and responsibilities than others. Weddings & Bar Mitzfahs will call for skilled MC work and carefully planning, while a simple backyard BBQ is practically an autopilot DJ event. Target high-paying clients who are throwing bigger, more important events so you can spend your time at those. Remember, you can only be in one place at one time!
