Corporate events are exciting, and fun to plan as well. The different meetings for brainstorming bring out the creativity in the team members and can go a long way in making the event a big hit. However, the plans and ideas can be cut short when the budget is read and you realize that what has been allocated doesn’t meet your plans.
This is when you need more creativity – to plan the best corporate event on a limited budget. So, what should you do to achieve this feat?
Know How Much Money Has Been Allocated
Before you can come up with the various items for the event, you need to understand the money available to you. It doesn’t make sense coming up with ideas only to find out that you cannot afford most of the items. Once you know what you have, you can align the budget to suit the available cash.
Understanding what you have before you come up with a budget helps you stay within your limits.
Accept the Budget
You don’t have to plan the budget on the basis of hope, instead plan with what you already have. You shouldn’t make plans hoping for more money from the client, instead, plan according to the money you have been given.
Try and save yourself the frustration of planning your event on a large budget when you have a lean one. To remove any doubts, you need to know that there have been so many successful corporate events that have been planned on a lean budget.
Do Comparison Shopping
When it comes to the venue, you need to be flexible when negotiating for one. First, consider several dates for the corporate event and ask the potential venues for availability.
There will be different conference facilities and hotels offering the venue for your event. Make sure you check out the cost of hiring the venue for the event. Consider the amenities that are provided and narrow down to a few venues that suit your needs.
When the different venues realize that they are competing for your business, they will negotiate on the price with the aim of winning the business.
If the budget is too small, you might opt to host the event at your corporate headquarters. This eliminates the cost of the venue because you won’t have to pay anything at all.
However, when it comes to the venue, you need to make sure you choose one that is suitable for the event. The venue needs to be able to hold the expected number of guests, match the kind of event and provide safety and comfort to the attendees.
You also need to consider the location and accessibility of the venue as well. Remember that a venue located miles away might be more expensive especially when you consider the cost of transporting supplies to the venue.
Go for Buffet Meals
Avoid sit-down meals because they are more expensive to organize. Instead, go for buffet meals. Buffet meals eliminate the cost of table-service and waiters. You also reduce the amount of eating and sitting. When guests stand, they consume less and spend more time talking. A full open bar also takes a large chunk out of your budget; therefore consider a select few drinks.
Book for Services Early
You need to try and book for services, such as musicians and performers early in advance. This is because as the event nears, the cost of hiring the service goes higher. Perform some research and find an appropriate speaker or performer in the area. Getting a speaker from the area reduces the cost of accommodation and transport.
Save Money on Décor
Decorating the event can be as simple as a few balloons or as lavish as the budget can allow. The décor represents one of the aspects that take up a huge chunk of the budget that is if you don’t know what to do to reduce the costs. One way to reduce the cost is to go to a venue that is attractive. Some venues come with decorations in the overall rental costs.
You can also embrace simple décor. Work with someone that offers the décor at a lower cost. You can also use décor items that serve more than one purpose. Of notable mention is linen. Linen can work as both a decorative item and as an item during the serving of the food. Go to The Linen Hire to get the right linen for your needs
Regardless of the budget, you need to make sure you plan and execute the best event for your corporate customers.