May 2, 2014 How Much Should We Charge for Tickets?
Ticket prices are consistently a discussion that I have with our non-profit organizations. Many groups want to charge low ticket prices to get the community out to the event. While this does fill seats, it often fills then with guests who many times do not cover your costs. These guests often just attend for a good dinner but do not support the non-profit in any other way. Filling the seats with guests who will spend money event night in support of your cause is paramount to the success of the event.
Not only should the ticket price cover all of your costs, it often reflects the “fundraising” mindset of your guests. Consider all expenses such as the venue, equipment rental, catering and bartenders, sound, lighting, band, the Auctioneer, emcee, printing, decorations, advertising, insurance, credit card fees, and liquor license. Determine the attendance goal and divide the expense by the number of guests. This is the cost of your ticket. This enables you to start the night off with all expenses covered and everything made that night is all profit to your organization.
Make every minute a revenue generating minute!
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