4 Budgeting Tips for your next Corporate Event

When it comes to hosting a great and successful corporate event, you require large amounts of planning, along with the right use of available resources. As an event organiser you will want to make sure that your corporate gig goes according to plan while staying within the budgetary limits.

While a tight budget makes things harder, you can still get a lot done for your event while making minimal compromises. To help you plan a great corporate event, here are four great budgeting tips:

Book the Venue Off-Season

One of the biggest costs that you have to reduce as much as possible is what you have to pay for booking the venue. When it comes to the venue, you have to select a place which has enough space to accommodate all your guests. At the same time, it should also meet your specific requirements such as complementing the theme of the event, good amenities and services to name a few. Here is a budgeting tip that you will love for booking venues. If possible, try to hold your event at a time when is off-season for the venue. For example, during holiday season, most hotels will be booked out, to cater to the needs of the tourist. However, when it is off-season, they will provide great discounts and offers so that they can get business.

Get At Least Three Estimates for Everything

As you are working with a tight budget, you want to make sure that you get the most for what you pay. After all, getting things with great value for money is the sweet spot for every event organsier. When talking to vendors, make sure that you talk to at least three different ones. The advantage of this technique is that you get different prices for the same product/service. You can compare the prices and select the best vendor who will give you what you are looking for, without breaking the bank.

Find Volunteers

You can cut down your costs by finding volunteers who want to get hands-on experience working at corporate events. However, don’t remove all your experienced staff members, just for the sake of keeping costs down as much as possible. While you need to spend additional time to train the volunteers, the upside is the reduction in cost.

Reduce Catering Costs

Another area that you can decrease costs is catering, as it allows you to make the most of your creativity. It isn’t always necessary that you have to serve your guests with delicious food frequently. If your guests are hungry, they can go to the food stations. Similarly, you can change up the menu so that the food is exciting to your guests. Rather than having the traditional caters to provide a buffet to your guests, you can use food trucks instead. You will save money as you don’t need to hire additional personnel to serve food to your guests. On top of that, you are giving your guests the opportunity to taste the local flavours, which will work wonders.

These are the four budgeting tips that will prevent you from breaking the bank!