Money is the one thing most clients may not have enough of when it comes down to planning events. Even fortune 500 companies have limits to what money they can spend on events. With a fluctuating economy it can be tough to determine personal income and that of your business. How does one plan an effective event with such a limited budget? Sounds impossible and sort of a catch-22 we know. With a great Event Planner this isn’t an impossible task to take on. Planning events has become an art that planners learn from one event at a time. As Event Planners ourselves, what our clients like it the ability we have to cut cost by thinking outside the box. Believe it or not, not all clients have to pay for everything at their event. Here are some money saving tips on planning your next event. 1. What is your budget? You would be surprise how many times we hear the phrase, “The budget isn’t an issue”. Until you begin to see bills pill up from third parties, reality hasn’t hit you just yet, but it will. The best way to determine your budget and what money you can spend is by outlining key things you must have. A venue, catering, decor, entertainment and incidentals are critical things to consider. If you are throwing a birthday party your budget should not include money for a guest speaker. 2. Reduce your Decor Requirements Planning weddings we see a lot of over priced items because a bride or groom simply had to have a certain floral arrangements or spectacular decor. An easy tip for flowers is to purchase flowers that are in season around the time of your event. Also purchasing locally can save you tons on shipping and growing such rare flowers. For table decor, not every table has to have a large centerpiece. Opt to have every other table and use smaller centerpieces to make up for it. For other decor seek out rental companies vs. having your planner create a design from scratch. 3. Pick the Right Venue We recently wrote about picking the right venue because we have found that some of our clients have already picked their venue before they hire a planner. When you pick a venue try to pick one that has the most amenities possible. Hotels are great because they have chairs, tables, staging, catering, audio and visual all in one. Even if a hotel isn’t ideal for you, try to find a venue that has most of these included in the package to save rental and delivery fees. Once you have found the perfect venue your work doesn’t stop there. Now it’s time to negotiate. Venues have their high and low seasons. In high season prices are high, in low seasons you are able to save up to 30% off. Come prepared to talk them down by researching their competitors. If you present them with another venue’s offer, they might be willing to underbid to secure you. 4. Do you really need that much food? We always want to make sure everyone is fed. Food and beverage are one of the most talked about items at any event. While being so important, it doesn’t require you to have food for 200 people when you know 150 are showing up via RSVP. Some hotels and catering companies do have minimums, but work with them on alternatives. Buffet serving is cost effective and easy to manage. Additionally less people are needed to hire for a buffet over waited service. Don’t be afraid to reduce what is served at your bar. Wine and beer is far better to have than a cash bar filled with liquor. Your guests want to be treated, not have to pay for it. 5. Seek out Sponsorship To save money at your event seek sponsors to help cover the cost or provide in-kind support. Sponsors are always looking to get closer to consumers and events are key elements to do so. If you event is large or has enough key people, companies will sponsor you to reduce their own PR and marketing fees. There are tons of brands emerging each year who want to tap into events. This is a great way to grab them for your own event. Seek them out, draft a plan, establish a relationship and pitch the idea. 6. Hire an Event Planner I know it sounds like we are blaring our own horn, but quite honestly Event Planners save you money. These are the experts who have established relationship with venues, catering companies, florist, bakers and everyone else. Because of these relationships discounts are a perk that you not only want, but need to save money. They know how to negotiate. They know alternatives to reduce your budget. They know hidden gems. It’s important to truly consider if you can do this alone. With all of this said and done, imagination and diligence is what is needed to save you money on your next event. Look at all options when deciding if you want to plan an event personally or for your company. To get more detials on how to save money, email us via our contact page. Also check out MoneyCrashers.

The post Money Saving Tips on Events appeared first on District Fete.