Every corporate event organizer is on a budget. Yet, when some hear ‘budget’ they instinctively consider the least costly options available, even if those options are not the best value. Here are our recommended strategies to reduce event costs without sacrificing the quality of your event:
Be flexible in your required elements. The narrower your requirements for elements of your event, the tougher it will be to fulfill them on a small dollar amount. Sometimes it can be as simple as using what’s provided with the space such as banquet chairs, versus renting specialty chairs or ordering chair linens.
Look for package deals. It may seem like shopping around for the cheapest deal in each expense category (catering, tables, chairs, space, etc.) is the way to save money. Not always so. Venues that can supply equipment, catering and linens are likely to have more inclusive costs and options of their services.
Entertain all potential dates. Some venues offer seasonal pricing based on peak and non-peak times. In many cases rental fees are reduced in cold weather months and higher in warm weather months. Always bear in mind that Friday and Saturday events will be more costly than week day or Sunday events.
Minimize necessary travel. Selecting venues close to or within walking distance of your convention, meeting or gala event will reduce travel expenses and the need for guests to navigate far in an unfamiliar location.
Be conscious of catering. Think about the type of event and the food being served. Black tie fare isn’t necessary for casual events and lunch isn’t limited to deli sandwiches. And unless it is known heavy drinkers will be in attendance, generally a wine, beer and soft drinks bar is plenty for an open bar option.