Are You Actually Making Money on Your Events? Why Every Event Planner Should Be Tracking Their Time
You know what you're charging your clients. But do you know what you're actually making?
Whether you're just starting your event planning business or you're several years in and managing a full calendar of clients, there's one business practice I wish more planners prioritized: tracking your time.
And no, I'm not talking about tracking your hours just to see how busy you are.
I'm talking about understanding exactly how much time, energy, and resources you're investing into each client so you can make smarter decisions about your pricing, services, and the types of events you take on.
Because being booked and busy doesn't necessarily mean you're running a profitable business.
Your Pricing Is Only as Good as the Numbers Behind It
When you're starting your business, it's easy to look at what other planners are charging and use that as a starting point.
Maybe you're charging $3,000 for coordination or $8,000 for full-service planning. The numbers sound good, and you're excited to book the client.
But here's what I want you to consider:
How many hours are you actually spending servicing that client?
Let's look at an example.
You've booked a full-service planning client for $8,000.
You spend 150 hours managing their event, including meetings, emails, vendor communication, design development, timelines, and execution.
That's approximately $53 per hour in revenue.
Now factor in your overhead, software subscriptions, insurance, staffing, taxes, and all the other expenses that come with running your business.
Suddenly, that $8,000 planning fee doesn't look quite as profitable as you originally thought.
And here's the thing: without tracking your time, you might never realize it.
Not All Clients Are Created Equal
One of the most valuable things I learned while growing my own event planning business was that two clients paying the exact same fee could require completely different levels of service.
One client might be incredibly decisive, responsive, and organized. Another might require additional meetings, countless revisions, and significantly more communication throughout the planning process.
Both clients are paying the same amount.
But one might require 80 hours of your time while the other requires 160.
That's a pretty significant difference in profitability.
And it's exactly why time tracking matters.
When you begin documenting your hours across multiple projects, you can start identifying patterns:
Which types of events are the most profitable?
Which services consistently require more time than anticipated?
Are certain clients or projects requiring significantly more attention?
Where are you spending the majority of your time?
Which projects would you happily take on again, and which ones would you approach differently?
The goal isn't to label clients as good or bad. It's to understand which projects are the right fit for your business and how to price them appropriately.
Start Tracking Everything (Yes, Everything)
If you're not currently tracking your time, my advice is simple: start today.
You don't need a complicated system or expensive software.
You just need consistency.
Track the time you're spending on each client, including:
Initial consultations and onboarding
Client meetings and follow-up communication
Vendor research, outreach, and coordination
Design development and revisions
Budget management and proposals
Timeline creation and logistics
Emails, phone calls, and administrative work
Venue walkthroughs, rehearsals, and event execution
And don't forget about those quick five-minute emails or little tasks you squeeze in between meetings.
Those minutes add up, especially when you're managing multiple clients simultaneously.
Over time, you'll have a much clearer understanding of what it actually takes to deliver each of your services.
Use Your Data to Make Better Business Decisions
Once you've tracked several projects, this is where things get interesting.
Rather than guessing how much time a future client might require, you'll have actual numbers to reference.
Let's say you've completed five full-service planning projects.
Three required approximately 100 hours each, while the other two required closer to 200 hours.
Now you can look at why.
Were the larger projects more logistically complex? Did they include multiple venues, additional events, or extensive design development? Were your service boundaries unclear? Did you underestimate how much support certain clients would need?
These are the questions that help you improve your business.
You might discover that you need to:
Increase your pricing for certain services.
Establish clearer boundaries around revisions and meetings.
Adjust your packages to better reflect the work involved.
Create more efficient workflows and client processes.
Be more selective about the types of projects you accept.
You can't make informed decisions about your business if you don't understand what's happening behind the scenes.
A Simple Exercise: Calculate Your Effective Hourly Revenue
Here's something you can do with your most recently completed event.
Step 1: Identify your planning fee.
Use the actual fee you collected for your services, excluding pass-through client expenses.
Step 2: Add up your hours.
Include every hour you spent working on the project, from the initial inquiry through the final wrap-up.
Step 3: Divide your fee by your total hours.
These numbers represent hourly revenue, not your take-home pay or profit. You'll still need to account for your business expenses, team costs, and other financial obligations.
But this simple calculation gives you an incredibly valuable starting point.
Now ask yourself: Is this number supporting the business and lifestyle I'm trying to build?
If the answer is no, something needs to change.
Your Time Tracking Should Influence What You Book Next
One of the biggest shifts you can make as a business owner is moving away from the mindset that every inquiry is an opportunity you need to accept.
Because not every opportunity is the right opportunity.
As you build a history of completed projects, use that information to evaluate future inquiries.
Consider the event size, location, planning timeline, logistical complexity, client expectations, and the resources required to execute it successfully.
Compare those details to similar projects you've already completed.
If you know a certain type of event consistently requires 200 hours of your time, you can price it accordingly before signing the contract.
And if a potential project doesn't align with your profitability goals, capacity, or services, you can confidently decide whether to adjust your proposal or pass on the opportunity.
That's not turning away business.
That's building a more intentional, sustainable business.
The Goal Isn't to Work More. It's to Work Smarter.
When I started my event planning business, I was focused on booking clients, delivering incredible experiences, and building a reputation.
And while those things are important, I eventually realized that growing a successful business requires just as much attention to what happens behind the scenes.
Tracking your time gives you clarity.
It helps you understand where your energy is going, where your pricing needs improvement, and where you might be unintentionally giving away hours of your expertise.
More importantly, it gives you the information you need to make changes before you're overwhelmed, overbooked, or wondering why you're working so hard without seeing the financial return.
You don't need years of data to start making better decisions.
You just need to start paying attention.
Because the goal isn't simply to build a business that books more clients. It's to build a business that's profitable, sustainable, and supports the life you want to lead.
Ready to Take a Closer Look at Your Business?
If you're finding yourself constantly busy but unsure whether your pricing, services, and systems are actually working for you, I'd love to help.
Through my one-on-one business consulting, we can review your current pricing structure, client workflows, and areas where your time could be better spent.
Whether you're just getting started or ready to refine an established business, sometimes a fresh perspective and a few strategic adjustments can make all the difference.
Book a one-hour consulting session and let's identify opportunities to help your business run more efficiently and profitably.
— Samantha O'Donnell
