Are you currently using Exchange to share the Outlook calendars?
It sounds from your description you are more in need of appointment scheduling software as opposed to the traditional calendar, especially if Exchange isn't doing it for you.
I have not found the right appointment scheduler either, and what I've found varies all over the board from free to $30 per month per user. Appointment scheduling crosses between Doctors, Barbers, Fitness Trainers and Social workers, and often is bundled in another package for billing and insurance filing.
Dave