Eight ways to plan a budget-friendly event

1158h0005

It’s easy to plan a killer event when you have unlimited funds, but what do you do when you find yourself with a smaller budget than you expected? Is it possible to plan a memorable event without breaking the bank? The answer is YES! Here are some clever ideas for saving money that will not detract from the awesomeness of your event …

1. Know your budget

When you know exactly what you have to spend, you can plan smartly. Instead of fighting your budget, embrace it and work with what you have. Setting baseline limits on categories like venue, décor, catering, speakers, marketing, etc. will help keep costs in line.

2. Get sponsors

Exchange exposure for money – it’s a win-win for everyone involved. Be smart and professional about getting sponsorship. Draft a thorough proposal, highlighting the benefits for your sponsor and the possibilities for future collaboration. It’s also important to find the right person to present it to.

3. Choose your speakers carefully

If possible, get local speakers to save on travelling costs and accommodation. Budding speakers might charge less than established speakers and possibly have exciting, new insights to offer.

4. It’s all about timing

Having your function during off-peak season can save you costs. Many venues offer discounts for midweek functions. You can save up to 50% on venue costs by having your function on a Thursday rather than a Saturday.

5. Cater for success

When hosting an event, catering is the single biggest expense. You can cut costs by having a buffet instead of a traditional sit-down dinner. Also consider having a cash bar instead of an open bar or kick your event off earlier and just serve drinks and canapés.

6. Location, location, location

The venue is another big expense. Weigh up the costs carefully.  Finding an all-inclusive venue might be more expensive but you will save on rental costs. Some venues, like art galleries or botanical gardens already create a stimulating atmosphere, translating into less work for you when it comes to arranging décor.

7. Get social

Create a page on social media about your event. Not only is it a great way to promote your event, it is also (almost) free!

8. Less isn’t always more

Don’t skimp on essential costs like getting a professional event coordinating company to handle your special event requirements. These professionals usually know where to source discounted deals and they have experience with what is functional and what isn’t. They can end up saving you more money than they cost you.

It is possible to host an unforgettable event on a budget. Simply get creative and think outside the box. Good luck!

facebook