I have an event planning company and I am about to hire sales reps to help bring new accounts for my business and expand it. I am paying them by commissions only. I have never paid anyone based on commissions only and would like some suggestions on what percentage they should get paid. per event/contract they bring in.
Ultimately depends on the profits that you are able to obtain, the no.of employees involved, the volume that you can sell, the profit margin of each product. For eg. If your product is not going to be sold on a high volume, it would be fairer if they are paid a fixed amt instead. If volume is moderate, a mix of fixed + sales com would be attractive. If vol is high enough, sales comm alone is acceptable.There's no hard & fast rule to this, but be fair to them and they will in turn work hard to bring in prospects for you.
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