It may seem very tempting to throw a large celebration for the holidays or the beginning of the new year and forget about costs, but keeping your budget in mind will help you to create the event you desire. No one likes to have to explain why you are overbudget after the event. One of our specialties is respecting the event budget and striving to come in under budget.
Follow these steps to create that memorable event within your budget or hire an award-winning Event Consultant to take care of all the details for you.
Follow these 5 steps
1. The Guest List
After you have established your event goals and objectives, you need to determine the guest list as it will affect the cost of the event.
Decide if the event is intended for all employees or specific departments, or clients and whether you would like to extend the invitation to include plus-ones for your guests.
Once you estimate how many people will attend the event, start looking for a venue while keeping the total budget in mind.
2. Choose The Right Venue
A memorable event starts with the right venue. Choosing a venue that handles the majority of the event details for you, including food, drinks, staff, décor, and music makes your job much easier, but it does come at a cost. Since many corporations follow the same procedure, your event can become tedious and repetitive.
It may be cheaper to find a venue that’s more of a “blank slate” and coordinate bringing in each element yourself but be careful. Bringing in the infrastructure to support your event is costly. Make sure you ask about pricing based on the time of day and day of the week when choosing a venue. Some venues are more expensive on weekends, while others are cheaper on weekdays. You might find better deals if you host a lunch or cocktail party instead of a seated evening dinner.
3. What to Eat
Depending on the venue, the menu can provide you with a lot of flexibility when it comes to event structure. For larger dinners, you may opt to start with a cocktail hour and include passed canapés. If you are planning a sit-down meal, you will want to consider how many courses you will serve and what food options you will provide to your guests.
Alternatively, you can order food trucks, which have become popular as a new trend or have food action stations with a variety of options for everyone. Build Your Own Stations are most popular as guests can select food of their choice.
4. Don’t Forget Gratuities
When planning your budget for large events, it is crucial to factor in tipping costs. The catering team often adds pre-arranged gratuity percentages to the food and beverage costs.
If this is not the case, you should include a gratuity of at least 23%. Tipping costs can be a significant expense, and you should not overlook them. Best to over budget to prepare for any surprises.
5. Transportation Home
Many guests will arrive at the event on their own, but have a few too many drinks. If there is an open bar, it is highly recommended that you assist your guests with their return home trip.
Arranging taxi vouchers or a ride-sharing service in advance ensures that your guests have a safe ride home. Despite its importance, this can be an often-overlooked expense which has dire consequences.
6. Creating Holiday events on a budget
Since it may seem difficult to create a unique holiday event while keeping to a budget, many companies tend to skip their holiday events because they believe they will be the same as all the other years.
Instead, hire Sharon Bonner Consulting to elevate your next event and set the bar high.
Sharon has created award-winning holiday events that have left guests speechless while maintaining a pre set budget.
The Black & White Ball was one of the most buzzed-about events, celebrating NorLand Limited’s 30th anniversary and the holiday season. Utilizing 20,000 square feet of a vacant train station, the venue was transformed breathtakingly. Not only was it adorned with black and white decorations, gold accents, and a grand staircase, but it also featured an array of casino tables, adding luxury and entertainment. This seamlessly embodied the ‘Gone with the Wind’ theme, all the while maintaining the budget.
As an event expert for 35 years, Sharon has the expertise and experience to design the best budget and ensure a high return on investment (ROI).
To learn more about creating a memorable Holiday party that employees actually want to attend, request a quote and get started now.
