ARTICLES
How to Budget for an Event
By Skye Griffith,
CFEE
The amount budgeted for an event drives every
aspect of planning. Since Skyline has planned and produced
all types of events for over 25 years, we have a comprehensive
event-planning checklist. This enables us to project the cost
of all event elements for our clients. We offer you these guidelines
necessary to begin the budgeting process. It will assist you
in developing your own event checklists.
Skyline begins the
budgeting process with a detailed analysis of the client’s requirements,
whether planning a citywide public event for thousands or a
small fundraiser for your child’s school. Determine the
following critical elements that will impact each other and
related costs:
1. Date (The day of the week
and time selected will often impact charges.)
2. Number of
projected attendees (The number of guests is a major cost factor.)
3. Venue requirements (Consider site location,
room size, lighting, audio/visual requirements.)
4. Event goal
or purpose (For businesses, define if the event is part of
the marketing strategy such as a product launch or a building
dedication, an awards dinner, board meeting or a social get-together
for clients or employees.)
5. Theme (This is often a consideration
for both private social events and corporate functions to add
fun and excitement, such as Western, New Orleans, Las Vegas,
Black and White, etc.)
6. Style (The tone or mood will be determined
by a business style, casual, formal or theme.)
7. Menu (Determine
the type of food service - a plated dinner, buffet or cocktails
and hors d’oeuvres;
combination)
8. Media requirements (A business program may
require screens, projection equipment, microphones, etc.)
9.
Entertainment (This can be a major element, for ambience or
geared to a theme.)
10. Design elements (Determine
your most important event design elements which many be the
venue, theme, food, décor, entertainment or other.)
11. Details (This
could include invitations, gifts, premiums, centerpieces, flowers,
etc.)
12. Logistics and services (This could include
valet parking, coat check, security, production services, other.)
Skyline works with our clients regarding all
these event elements, as required. The more we know about
needs and expectations, the better we can advise our clients
on a range of prices they can expect to pay. We also work
diligently to deliver the best value by determining which
elements are most important and where compromises can be
made without sacrificing the success of the event.
We help
our clients prioritize these elements. Some clients have
a pre-determined budget and others look to us to provide
a price range based on their prioritized list. For some clients,
food is the most important issue. Others are seeking a special
décor and entertainment package
- the look is the thing!Once preferences are determined, Skyline
drafts a line-item cost analysis based on “must haves” and “wish
list items”. We can then develop a basic package, a mid-range
event package and a high-end event for their consideration.
Once our client agrees on the details and
related confirmed budget, we go to work to deliver an event
that not only meets, but also often exceeds their expectations.
We are privileged to have so many repeat clients and always
look forward to working with new people for both business
and social events.
Contact Skyline Talent & Events
at 303-595-8747 or skye@skylineusa.com
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