How much do you charge for your registration fees?

Are you trying to figure out where to start when setting your ticket and or registration fees for your next event?

To find out if at which point when the meeting revenue will cover meeting expenses, you can use a break even analysis.

Terms

Fixed Expenses — costs that do not vary bases on the number of attendees. (i.e. room rental fees, speaker fees, entertainers, and photographers)

Variable Costs Per Unit — are charges that are levied base on the number of people attending or per person. (i.e. plated meals, hotel rooms, tickets to events)

If you know the total amount of fixed expenses, the price of admission, and the variable costs per unit (or person), then you can find the minimum number of attendees that are needed to cover your expenses.

Break Even Units: look for the number of attendees needed to break even.

Break Even Units = total fixed costs/
Price – variable cost per unit

Determining the Break Even Price for Registration/Tickets Fees

If you know the total amount of fixed expenses, the number of attendees expected, and the variable costs per unit (or person), then you can find the minimum price of admission to charge to cover your expenses.

Break Even Event Price: finds the registration price needed to be charged in order to break even

Break Even Event Price = (total fixed expenses + variable costs per unit)/Number of attendees

If this looks to daunting, call Knowledge Bridge 613-762-8641 today, and we would be happy to assist you to set your registration fees for your next event.