performing magic Archives

Increase Your Fees for Performing Magic Tricks

How to increase your fees for performing magic.

As your reputation and client base builds up over time, you will become more established as a magician, and you should already have an understanding of how much you can charge for doing magic trick s for the public. It’s very easy to fall into a pattern of only charging the same fee year after year. That’s not a smart thing to do, as it’s a price cut, because inflation eats into the value of your fee each year.

Increasing your fee is quite hard to do psychologically, as you have to face the fear of turning down work, but it pays off in the long run. Many performers start off setting a fee and remain at that level year after year. They never reach this full potential in the market, as become cheaper and cheaper over time as inflation takes its toll. As they get cheaper, their desirability for ‘premium clients’ decreases, and they end up in a cycle of low status gigs, working hard simply to treat water and pay their bills. Don’t let this happen to you!

As soon as you start filling your work diary on a regular basis, you need to think about raising the bar. Start quoting a slightly higher fee. Don’t worry if you lose some bookings, you don’t need to do every one, just the right ones with a good fee. It’s better performing fewer bookings for more money.

Find your current price ceiling

You need to find out that maximum you can currently charge to bring in the most income for the least amount of gigs. To do this, keep increasing your fee. You may find you only get half the number of bookings in a month, but make more money from them than you did when you worked twice as many gigs.

You will get to a point where work coming in will start to drop below the income you got when you were priced low and worked like crazy. Congratulations, you have hit your price ceiling. Now, quote for shows just below your price ceiling point and you should get enough bookings to bring in more income that before, but with fewer bookings. Over time, you will find that your client base changes as you move into a higher price bracket market. Each magic gig you do at a higher fee exposes you to future clients in that fee range. The result of this is that your diary will start to fill up again, and you get too busy. That’s the signal to push for a new higher price ceiling, and so it goes on and on.

What Next: Now let’s look at ways to decide how much you should initially charge for your magic services.

How Much Should You Charge for Magic

by Merchant of Magic 2 Comments

Understand your costs.

Depending on the type of magic act you are marketing, your overheads may include several costs that need to be estimated. You need to determine how many bookings you will need to cover them and bring you an acceptable income. Your costs may include:

Equipment
Travelling expenses to and from bookings
Costumes
Make-up
Consumables, such as decks of playing cards
Backing music
Insurance – Public liability insurance is essential.
Club or society membership

If you are already working in a full-time job, you need to calculate your costs, then work out how many bookings over a year, it will take to replace the income you currently receive.

Looking at that figure, do you think it is feasible for you to attract that number of magic bookings at the fee you charge, to replace your current income and allow growth over time?

What is your target customer?

What type of act do you provide? If you’re a children’s entertainer, your market is very different to that of a close up magician or a stage show illusionist. Each type of customer and venue has different needs, and a different budget for your services. When setting your fee, you need to look at the factors in your specific target market and set your fee within that market’s pricing level.

Starting small.

Your reputation and customer base will take time to grow, so you may find that you will need to accept some bookings for less that the going rate when you start out. As your reputation as a great magician spreads and your marketing efforts bear fruit, you will be able to increase your fees over time. We recommend that you do not work for free to begin with. It is very easy to get stuck in a regular booking that is not producing an income, because you started for free, and can’t justify to the client why they should now pay you. A reduced fee for a limited time as a ‘trial’ is fine, but be aware that your fee will often reflect your value to a client. There is much better way than competing on price when you start out.

Aim low on the customer, not the price.

Rather than targeting prestigious venues or premium clients with a low price, pick clients that have a lower budget, but would love to have magic at their venue. Premium venues will be wary of an entertainer who is cheaper than other entertainers locally, but a small business may be delighted to be able to afford your services.

Restaurants.

Unlike a party or celebration event, the goal of a restaurant is to make a profit from their customers. They need to sell their food as well as to entertain them. It doesn’t matter how good a magician you are, the restaurant will know how many customers (or covers) it will turn in an evening, and that sets its budget for that night. Live entertainment is always sort after. In fact, during times of economic pressure, venues will seek out live entertainment to give them an edge in the market. A magician is a low cost option for a pub or restaurant, compared to live music or sporting events. Restaurant work is low paid, but a few regular evenings each week and support you during the early years, and be a good source of leads for work going forward.

As a general rule of thumb:

For a restaurant, it is acceptable to charge 4 x the price of a meal for one.

Weddings.

Weddings have a larger budget than a restaurant, after all, the goal of a wedding is to entertain the guests, without making a profit from them. Because of this, you can charge a more realistic fee. The price you can charge for your services will depend very much on the area and wealth of the clients who book you. A simple and easy way to set your rate is to find out what comparable forms of entertainment charge in your area. Get some quotes for casino tables, live wedding singers and photo booths locally. A wedding magician can normally charge a small premium above these other options but will be price capped close to them.

Children’s Shows

If you provide a children’s magic show, it is quite easy to find out what other magicians in your area are charging. Don’t undercut the other magicians locally, as that simply creates a rush to the bottom of the market. If you would like to increase your fees in this market, look to advertise your services in wealthy areas. Try not to limit yourself just to parties near where you live. If you are prepared to travel, you can market yourself in a number of affluent towns and cities, increasing the fee for your services, rather than trying to increase the number of shows you perform.

Understanding your costs, income needs and the market for the product you are offering, is vital to your success as a professional magician. Once you have identified these factors, you can work on establishing your reputation and client base over time, and then increase your fees for performing magic tricks.

Tweet this

Leaving a Magic Gig – Essential Things You Should Do

by Merchant of Magic 4 Comments

Being a magician is about learning and performing magic, but being a working magician means you need to look after the business side of entertainment too. What you do as you leave a gig can be just as important to your success, as the marketing you did before you landed the job. If you simply pack up your bag and head home, you could be missing out on some very important opportunities to bring in more work. So let’s look at some of the tips and tricks you can do, after the card tricks have been done, to make sure you get the most out of each and every booking you do.

See the Toastmaster.

If the event has a toastmaster or master of ceremonies, make sure you tell him or her that you are leaving. They love to announce it to the room (Toastmasters crave announcing anything they are can, whenever they can), and you will get a round of applause from all the guests. This is a boost for your confidence, but most importantly it shows everyone that the group really enjoyed having a magician attend. The client confirms that they made a wise investment, and all the people clutching your business card, see how well the magic went down with everyone. The final thing you want the whole room to associate you with is a huge round of applause.

Say goodbye to the client.

The room is in full swing and the client is buzzing from table to table talking to their guests. Make sure you go up to them and say that you now need to leave, and thank them for booking you. NEVER just pack up and go, when your time is up.

Hold a magic trick back just for the client.

When you say goodbye, you don’t want to appear too eager to leave. Yes, I know, that McDonalds you noticed on the drive in, is calling you, but resist it. Stop and chat. They will often ask for ‘one more trick’ so hit them with a great closer effect, so you leave them amazed.

Give the client your deck of playing cards.

Let’s face it, almost every magician performs card tricks that require the spectators to sign a card. Keep those playing cards with signatures on, in the deck rather than giving them to the spectators and you have a great gift for the client at the end of the evening. They get a deck of cards with all their friends and families names on them. It’s a nice keepsake, especially at a wedding, and also shows the client, how you got around everyone and worked hard. Pop your business card in the card case too.

Would you like to learn more tips and advice for when you leave a magic gig? The Merchant of Magic has written a free ebook on the subject. It’s free and suitable for complete beginners getting ready for their first magic performance, right through to professionals wanting to get more gigs and improve their feedback.