How do you price an event venue rental?
What is the short answer?
Start from your costs, not from your neighbours. A common rule of thumb: add your monthly expenses and the profit you want, then divide by the number of events you realistically book in a month. That gives you a base price per event.
Then adjust. A Saturday in peak season costs more than a Tuesday in February. Longer hours, bigger guest counts, extra rooms and included items (tables, chairs, linens, a coordinator) each move the number. Pick one model and show it clearly: a flat fee, an hourly rate, a package, or a minimum spend on food and drink. Clients compare venues, so say plainly what the price includes.
Check the result against two things: what you would clear on your slowest Saturday, and whether your inquiry-to-booking rate holds when you raise prices. If nobody ever pushes back on price, you may be too low.
Example, with made-up numbers: cost plus profit
Monthly expenses are $18,000, you want $6,000 profit, and you expect 6 events a month.
- ($18,000 + $6,000) / 6 = $4,000 base price per event.
- Saturdays at 25% above base: $4,000 x 1.25 = $5,000. Weekdays at 25% below: $4,000 x 0.75 = $3,000.
With 3 Saturdays and 3 weekdays you collect 3 x $5,000 + 3 x $3,000 = $24,000, the same as 6 x $4,000. Book fewer Saturdays and the total falls short.
Where MyVenueHQ fits
MyVenueHQ builds a proposal from your event with packages, a pricing table and terms. Your client accepts or declines from an emailed link with no account. Proposals are on the free plan. Free event proposal template.