Cost cutting strategies for your next event that ease the bottom line.
When starting to plan an event, the first item we focus on is the Event Budget. Knowing how to allocate funds is imperative for any successful event as it sets the foundation for everything else. With inflation and food costs on the rise, event budgets are getting slimmer by the day. Follow the cost cutting strategies below to trim costs, without impacting the overall appeal of your event.
#1- Skip the Soda
Water is free- jazz it up by adding a few slices of citrus fruits or herbs such as mint or lavender. Increase its appeal by serving it in a carafe or an upscale beverage dispenser.
Centerpieces and décor can make up a large percentage of your budget, especially when floral arrangements are involved. While most events can’t get away without any decorations, it is upsetting to see all the flowers get thrown away at the end of the night. Substitute with candles, nonperishable pieces, or herbs instead- and, it’s even better if they are reusable at events down the road.
#3- Selecting the Date
It helps to be flexible when selecting your date. Do some research and find out if there are any big events or conferences scheduled for the same time that you are considering. Sold out conferences and events will increase hotel rates and venue rentals. Additionally, consider hosting your event mid-week or at an off-peak time to lower expenses.
#4- Rethink Desserts
Pull dessert off the lunch menu and instead serve it as the afternoon snack.
#5- Have an Accurate Guest Count
Make sure you have an accurate count on who is attending. If you have several guests that have not RSVP’d, get them on the phone. Most catering companies and venues will prepare an additional 5% of food & beverage. This gives you a little wiggle room for an extra guest or 2, without you having to pay for an additional 5-10 people.
Use these event cost cutting strategies to maximize your budget without compromising the quality of your event. Getting creative and negotiating costs well allows you to create a memorable event all while staying in budget.
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