Depending on your needs, you may want to hire a contractor to manage the pieces. Next, make some calls to get an idea of how much that equipment would cost for rental and setup. For instance, if you plan to have a single speaker at any given time, you’ll need at least one computer and screen for their display equipment. Start by making a list of the different types of technology you’ll need for your event. You may need microphones and PA systems, televisions or projectors, digital signage, or a custom event app to create a truly engaging experience for your attendees. Most modern events use technology in some way to enhance the experience ( especially video). Create a vision of what your event should look like and how it should make guests feel, then itemize the cost of your displays, decorations, and signs. You might not take your branding to this level, but it’s important to give your event its own personality. They use artwork to inform and amaze their guests. HubSpot’s INBOUND event takes branding to the next level with giant 3-D signs and high quality displays scattered throughout the entire venue. You wouldn’t, for instance, want to spend a load of cash on a waterfall feature and then run out of money to label the bathrooms. This is one of the places of your budget where it’s easy to overspend, so it’s important to have a clear vision in mind before you start buying visual elements. To do that, you’ll need to include branded elements throughout your venue. Signage and BrandingĬreating a powerful event experience means bringing your brand to life. Expect to compensate good help for their labor, travel expenses, accommodations, and meals. Your venue may include your general staffing needs, but you may need some specialized people to handle complex tasks like registration, organization, and managing speakers and/or entertainment. Word will spread and create buzz for your next event too. Great entertainment won’t just drive sign ups for today’s event. Your attendees will talk about the entertainment. Like your venue, this is a component that reaches beyond today’s event. But if you need a high profile keynote speaker or popular music act, you may end up spending as much on entertainment as you spent on the venue. If all you need is a DJ for the day, you won’t invest much. Speakers or Entertainmentĭepending on your needs, entertainment could be a big or small expense. Make sure your contract details everything. Don’t assume anything comes with the base price. Many venues have a menu of additional services, like valet attendants, Wi-Fi, or specialized equipment. It’s also important to understand exactly what you get for your money. For instance, they might charge a cleanup fee or a security fee. Many venues have a schedule of additional fees on top of the advertised price. Selecting a venue is a big process, so take it seriously. So once you choose a venue, you’ll inevitably have to revisit your budget to make changes. But if the venue doesn’t provide wait staff, you may need to hire your own. For instance, if the venue provides food, you can eliminate that line from your budget. Since the venue is the most impactful component of your event, its cost will likely determine what you can spend on everything else.Īdditionally, your venue will also have the most impact on your budget. Most event planners choose their venue before they make other purchases or commit to other vendors. The venue is usually the largest expense in any event budget. List them in the “Item name” column of your spreadsheet. Consider these carefully as you prepare your budget. Let’s go over the basic categories of expenses that apply to nearly every event. If you work with a team, keep your budget data in a central location for everyone to access. Paid? (Mark whether you’ve paid for it yet or not)įeel free to add any other columns that make sense in your circumstance.Actual cost – What the item actually costs.Projected expense – How much you think it will cost (can use vendor quotes here).Item description – Any pertinent details that apply to the budget.If you decide to create your own budget spreadsheet, you’ll need the following columns: The biggest advantage to a custom spreadsheet is that you can tailor it to your specific preferences and needs. There are plenty of event planning software tools worth exploring, or you can set up your own spreadsheet. Managing a budget in your head isn’t feasible, so you’ll need a tool. Your first step is to prepare a budget document to track your costs.
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