6 Top Tips for Deal Negotiations
Are you booking shows for next year and want to make sure you get the best deal? Maybe you find it stressful and awkward talking about money? It’s important to know your worth and not undersell yourself, so here are our six tips to make sure you get the fee you deserve.
Make a List
Start by making a list of all the shows you’ve worked on and how much you got paid for each. Generally, you should get a fee and then a post-press night daily rate. When you look back through the list, check to see if your fee is going up annually.
Check the Figures
When you have an offer, ask how many days you will be exclusive for. Then, divide the fee by the number of days and see how much it works out as per day. Make sure this figure is close to your usual daily rate - and don’t forget to include prep days.
Keep Your Cool
Deal negotiations can be stressful and awkward, especially if you’re struggling to come to an agreement, but try to stay calm. This is one of the main reasons our clients come to us for help with deal negotiations – they’re able to distance themselves from these tricky conversations so they can concentrate on doing their job and working with the producer creatively.
Remember, a producer will have a budget that they’re trying to stick to, and they’ll be negotiating with other people too. While it’s important to make sure you get the right fee, you want to try and strengthen relationships with producers, not damage them.
What makes The Arts VA unique is we have been on the other side of these deal negotiations. We have worked with producers and have the knowledge and understanding of how these discussions work.
Make sure to find out what’s included. If you are being offered a retainer once the shows open, it’s important to know what the producer expects from you.
How many times do you have to visit the show? Are there any press events or an EPK planned? What happens if there’s a cast change? Find out if you’ll be paid more for these things or if they are all included in the retainer.
It can be easy to overlook the smaller details so make sure to ask about the extras, such as, are they going to reimburse your travel? What flight class are you travelling? What star hotel are you being put in? What’s the per diem rate?
If you’re still struggling or don’t know what kind of fee to expect, The Arts VA has the knowledge to help with that. Contact Charlie today for a chat.
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We’d Love to Hear From You!
If you have any questions about deal negotiations or have any suggestions about topics you'd like us to cover, please get in touch!