5 Balloon Pricing and Quoting Mistakes You Need to Stop Making

Pricing and quoting are critical aspects of running a successful balloon business. Getting it wrong not only affects your profitability but can also damage your reputation and client relationships. If you're making one of the following common pricing and quoting mistakes, it might be time to reassess your approach. Here are five balloon pricing and quoting mistakes you need to stop making right now.

1. Under or Overcharging

Finding the right price point for your services is crucial. Undercharging can leave you scrambling to cover costs, while overcharging can turn away potential clients. Both situations are harmful to your business. It’s important to balance what your business needs to earn to stay afloat while offering competitive and fair pricing. Do your research, consider your experience level, and take into account your expenses when deciding how to price your work. Make sure you’re providing value that matches what you charge!

2. Not Knowing How Long It Will Take to Make Before You Quote

A huge mistake that many balloon decorators make is quoting a price without factoring in the time it will take to create the design. How long will it take to inflate, arrange, and install the balloons? Without knowing this, you're at risk of either undercharging (and getting stuck doing more work for less money) or overcharging (which can make you less competitive). Always factor in the time needed to complete the work—this will allow you to create a more accurate and fair quote for your clients.

3. Not Knowing Supply Costs Before Quoting

Another mistake that can hurt your business is quoting a price without knowing your supply costs. Balloons, tapes, helium, and other materials all come with their own costs, and they can vary widely based on your location and the types of balloons you use. Be sure to calculate your supply costs ahead of time and incorporate them into your quote. Failing to account for supplies can result in lower profit margins, and over time, that will hurt your bottom line.

4. Quoting Something You've Never Made Before

It’s tempting to quote a price for something you've never done before, especially if you’re eager to win the job, but this is a major risk. Without the experience to understand exactly how much time, labor, and materials the project will require, you’re likely to either overcharge or undercharge. If you get a request for a new design, take the time to research it, gather feedback from peers in the industry, and make sure you are comfortable with your pricing based on the effort it will take to complete the job.

5. Asking Strangers on the Internet What You Should Charge

While it’s fine to seek advice and opinions from others in the industry, relying on random strangers on the internet to determine your pricing isn’t a good strategy. What works in one area might not work in another, and general advice can be misleading. You need to understand your costs, local market rates, and the value you provide. Trust your knowledge and expertise when determining what to charge.

Bonus Mistakes to Avoid:

• Charging Clients for Entire Bags of Balloons: If you’re charging your clients based on the entire bag of balloons, you’re probably overcharging them. Your clients don’t need to pay for more balloons than what you actually use for their event. Always quote based on what is actually needed and used in the design.

• Pricing Classic Arches by Linear Foot: Pricing classic arches by linear foot doesn’t really mean anything to your clients. Instead, try to price them based on the size of the arch, like 6ft wide by 6ft tall, or 8ft by 10ft. People understand measurements in feet, and this makes your pricing clearer and easier for clients to understand.

• Charging $30+ per Foot for Basic Garlands: If you’re charging $30 or more per foot for basic balloon garlands, you might not be getting many repeat customers. Overpricing this common service could make clients hesitant to book you again. While garlands are an amazing design element, charging a fair and competitive rate is key to maintaining a steady stream of orders.

• Guessing What Something Costs: Guessing how much an event will cost or how much materials will run you is a surefire way to mismanage your business finances. Take the time to carefully track your costs, and avoid the guesswork. You’ll find yourself much more confident when quoting and pricing future jobs.

Final Thoughts

Pricing and quoting may seem straightforward, but there’s a lot of nuance involved in ensuring you're charging appropriately for your balloon décor services. Avoid these common mistakes by taking the time to understand your costs, factoring in time and supplies, and pricing based on your actual work rather than random guesswork or trends you see online. When you get it right, you’ll not only create more accurate and fair quotes but also build a reputation for professionalism and reliability.

What pricing mistakes have you encountered? Drop a comment below and share your thoughts!