Post #09: How I Price My Magician Services

There are many ways for a magician to price their services.  A magician could either charge by the hour, by the service, by the event, or a combination of the three.  I approach every event individually.  In this post, I will pull back the curtain to reveal how I create a quote.  On the front end, what you see when we negotiate, is very simple.  We discuss the event in detail, then I provide a quote.  You either accept, we negotiate further, or we wish each other luck and part ways.  I want to keep the process as simple as I can.  Not everyone can afford me.  There are occasions where a client might need me to break the quote down for their data processor.  I make it simple by breaking down the time and services.  But, a lot more goes into it.

Please keep in mind as you read this I do not hold myself to any particular method.  It is all circumstantial.  Quantifying value is a very difficult thing to do.

Here are something I consider when creating a quote:

There are a few standard things I will not discuss like time and travel.  Though I do factor in time and travel, my quote is based on more important factors.

Learn More About Richard The Magician

1. Value of the EventWhen I say, “quantifying value,” I am not just talking about the value I place on my services.  I ask questions to determine the value you’ve placed on your event.  The greater the risks, the greater the reward.  There are some cases where hiring the wrong magician could result in termination.  This raises the steaks for both me and the buyer.  Say you are a marketing director looking to hire a magician for a trade show.  The goal of the trade show is generate leads, close deals, and possibly save the company from bankruptcy.  A client in this situation has a lot riding on me doing my job very well.  Like any other job, when you are given more responsibility, you are better compensated.
2. Customization of ServicesThis is one thing that sets me apart from other magicians.  I have the unique ability to create a custom performance for my clients.  My degree in theatre has given me the tools necessary to write new scripts, build props, tell stories, and improvise.  I want to fashion my performance to your event.  Through our consultation, I access how much customization is necessary.  Some events require more than others.Customizing my services could also mean mixing services for an event.  Rather than charge for each service individually, I take the extra step to determine how my different services can work together for you event.
3. Types of ServicesSome services automatically have a greater value than others.  Of course, there are exceptions.  My stage show is typically has a higher value than strolling.  But, they could cost the same depending on the event.
4. Prime Calendar Real EstateI think of my calendar as real estate.  Just like land, there is only so many hours in a day.  A gig at 1pm on a Thursday in March is likely going to be less expensive than a Friday night in December.  It’s about supply and demand.
   It is no secret that a magician is busier during the holiday season than the middle of February.  That could also depend on the magician.  My February was actually very business this year.
5. What I Bring To The TableIt’s important for a professional to know their personal value as well as the value of their services.  I am not selling a product.  I am selling me.If you go to a five-star restaurant, you are going to pay more for a steak than if you go to your local family diner.  Even if you prefer the diner, there is a reason why the steak at the five-star restaurant has a higher value.  The wait staff is highly trained.  They likely have a world class chef overseeing the food.  And then there is the atmosphere!  A lot of time and money went into research and construction to provide the optimal dining experience.

   I am like the five-star restaurant.  I did not get to this level by accident.  I sought out the best private university in south Florida, Palm Beach Atlantic University, to receive my education in theatre and communication.  I have spent countless hours studying and training in the art of magical performance.  And, I have educated myself in business so I can provide the optimal magical experience for my clients.

   There are other magicians who can perform the same magic tricks as me.  Just like there are other places to buy a steak.  I specialize in the five-star treatment.

There are other factors I take into consideration when creating a quote.  But you won’t have to worry about any of it.  Like a good magic trick, you’ll only see the effect and not the work behind it.  When I provide a quote, it will be an extremely simple process for you.  I can do that because I’ve already done the hard work on the back end.