Tired of spending a fortune when planning your events? Sure you are! Whether it’s a corporate party, business meeting, family reunion, etc., hosting an event isn’t cheap. Thankfully, though, there are ways to lower the total cost of an event, putting more money in your pockets.
Avoid Dates that Coincide with Holidays or Other Events
Event planners can expect to pay a premium price for venues and services if their event falls on a holiday, or if there’s another major event taking place in the same area at the same time (e.g. sports games or concerts). The increased demand may prompt venue owners and service providers to raise their prices in an effort to generate additional revenue. So when planning your event, make sure it doesn’t fall on the same date as a holiday or other major event.
Negotiate Better Deals with Venues
Just because a venue has rental prices listed on its website or brochure doesn’t necessarily mean that it’s the rock-bottom price they will accept. You can often rent a venue for less than the advertised price by negotiating with the owner or manager. Start by calling around and getting price quotes from several prospective venues. Next, call back your preferred venue and ask the owner or manager if they are willing to lower the price. If you tell them that another venue is offering to rent their facilities for a lower price, he or she may agree to drop their price as well.
Seek Sponsors for Your Event
Another money-saving tip is to find sponsors for your event. Businesses of all shapes and sizes are eager to sponsor events, as it increases their brand recognition and attracts new customers in the process. Sponsors generally pay a fee to the event planner and/or company hosting the event in exchange for advertising their brand at the event. You can even take this one step further by offering several different sponsorship “packages,” such as a Bronze, Silver, and Gold package.
Rather than serving three-course catered meals to guests, perhaps you can set up a buffet instead. According to a study conducted by TheKnot.com, couples paid an average of $66 per person to have their wedding catered. To put that number into perspective, that means a 200-person wedding would cost roughly $13,200 just for catering. Opting for a buffet, hors d’oeuvres or other “finger foods” can greatly reduce this amount.
Be Careful Whom You Hire…
Do your homework beforehand by researching prospective service providers to ensure they have a solid track record. If a Google search of a provider’s name yields negative reviews, it’s probably best to choose someone else. There’s nothing worse than paying for a service, only to discover the provider is a no-show on the day of the event. Of course, this won’t happen when you choose us for your event entertainment needs.