Hosting an event can be tough, especially if you’re on a tight budget. So how can event planners reduce event costs without sacrificing quality? Here are a few ideas.
1. Events are happening throughout the entire year, but there are sure to be busy months and slow months. Plan to have your event in the slower months . Venues and vendors are more likely to give you a lower price if you push for it.
2. Food costs can run pretty high. Host your event in the morning or lunch, where food costs are much lower. If you must have your event in the evening, host it after dinner and serve desert.
3. Check who’s holding an event at the same venue before and after you. Contact them to see who their vendors are and if they would be willing to split the cost.
4. Must you host an actual event? If your goal is still attainable without hosting a physical event, opt to host a virtual one.
5. Hosting multiple smaller events will mean you will have to split your resources and effort. Hosting one large event instead of hosting multiple smaller events will save you a lot of money. And this way, you can host an large extravagant one as opposed to smaller dingy ones.
6. Ask your friends and connections to help out. For example, if you have a friend who loves to cook, pay her to help out by making the food at your event.
7. Stick to your budget. Many times an event planner will go over his/her budget simply because they think it will help them better achieve their goal. The solution may not always be to spend more money; the solution may be to get more creative.