No matter what kind of event you’re planning, budget will always play a role. You have virtually unlimited options to choose from for everything from venue, to food, to vendors, so planning ahead to accommodate your event budget is essential. Check out these six tips to keep in mind when planning your next event, and you’ll be an event planning and budgeting pro in no time!
Find a venue with great design and aesthetic
There’s nothing quite like walking into an unfamiliar place and being completely blown away by and surrounded with beauty. While any great professional event company can spruce up a space, some venues have a naturally spectacular, already decorated space that you can take advantage of. Finding a venue like this, that requires little-to-no extra dressing, will save you rental costs to create the look you’re going for.
Look into food sharing
As a generally accepted rule of thumb, you should always order more food rather than risk running out. Unfortunately, this practice lends to a lot of waste, both in food and event budget. To combat this problem and reduce waste, look into sharing food with other events in the venue. When events at the same venue serve similar dishes, there is a level of give-and-take where the events can benefit from the other’s surpluses and shortages, ideally balancing out in the end. Kitchens are also left with waste from half the meals, as they use half the type of ingredients when two events use the same menu.
Use a venue with multiple spaces
Reduce the cost of moving your attendees from venue to venue by booking one with a variety of meeting rooms, conference halls, and outdoor areas. Transportation is no small fee, and can be a major time killer. Do your guests a favor by finding a venue they can navigate ease, and your event budget will thank you as well.
Use vendors/venues who do it all
Just like vendors who have various rooms will lower your event cost, venues who offer in-house services, will also reduce your cost. Some commonly offered services include catering, decorating, A/V setup and execution, lighting, stage setup, etc. For those services not offered by your venue, bundling services with an external vendor is a great way to save. More vendors will almost always cost more money in the end.
Live Streaming
Live streaming is a fantastic option because it can save you money on almost every aspect of your event. Opening up live streaming viewing to your attendees, especially those at a great distance, reduces the amount of space you need at your venue, food and beverage costs, travel expenses, and any fees associated with not filling a large room block at a hotel. Plus, afterward you have instant video collateral that works great for future marketing material!
Be aware of your season/location
While you are still in the planning stage of your event, be sure to consider the time of year and what local events are taking place during the time your event takes place. Traveling during peak tourist seasons will make booking venues and vendors a much more difficult and expensive process process. Think sold out hotels and sky-high airline prices, both of which are ideal to avoid. Is your percentage of travelers higher than your percentage of locals? Be sure to look into special group rates and room blocks to minimize your costs.
What other tips do you have for keeping an event under budget? Let us know in the comments below!
