When you are trying to manage an event there are a million things on your mind. In real life it is just more important to have an event than to make sure that the tickets are priced correctly. However, that is generally not a good reason to just use last year’s prices. In an attempt to simplify your life, we at Eventgroove, have created this event ticket price calculator to help you find the right price for your event tickets in a matter of minutes. Here is how it works. . .
|Event Ticket Price Calculator|
This is the amount of money that you would like to have when the event is over, not counting the money you had before the event began. By changing this value it is easy to find out how much more the tickets would have to cost to earn an additional $X at your event.
Cost For Tickets
Everything costs money and tickets are something that you are going to have to pay for. It is possible to offset the ticket costs by signing up a sponsor and printing their ad on the back of your tickets. This box should contain the total that you will end up paying for your tickets to be printed and shipped to your location.
Will you be promoting your event with fliers or posters? Marketing materials cost money and it is a good idea to know what those costs are going to be up front. Enter the total amount to be spent on marketing materials and efforts in this box.
Number of Events
How many times will the event be held? This box is for the total number of individual events that you are holding.
Cost Per Event
Most events cost money to hold, whether it is the costs of renting the facility or paying the ushers and performers, each cost adds up. This box should contain the total expenditure of an individual event. When this sum is multiplied by the total number of events it will be the total event cost of the production.
Number of Seats per Event
It is always a good idea to know what full capacity is for an event. This will prevent the fire marshal from becoming involved in your event. Do not worry about how many tickets of that total you will sell right now; just enter the total number of seats in the box.
Percentage of Tickets to be sold
Some events are lucky enough to sell out every event. Notre Dame Football, for example, has sold out of tickets for every game but one (1973 vs Air Force over Thanksgiving weekend) since 1963. Most venues are not so lucky and are best served by a guess as to what percentage of the tickets will be sold before the event. 80% would correspond to selling 4 out of every 5 tickets.
The calculator will then generate the ticket price for your event. Eventgroove recommends that you round the ticket price up to an even number. With currency that can be to the nearest Quarter Dollar amount instead of the nearest dollar if you prefer.
You now know what price should be set for your tickets. It is also important to craft the price around your target audience and think about what they will be willing to pay for your performance.