How Do You Build A Basic Event Budget?
Whether you’re new to event planning or a seasoned pro, keeping an event budget will help you stay organized and prepared for any client inquiry — and help you avoid going over budget. For a basic event, such as a seminar or dinner party, I really like Excel (any spreadsheet software will do), and list four categories along the top: • Item • Projected Expense • Actual Expense • Details Then, I categorize and track the expense items as follows: Difficulty: EasyTime Required: While You WorkHere’s How: • Track site rental costs. As you plan the event itself and as you meet with your venue sales manager, track all projected rental fees for the event and function space, housekeeping, baggage handling, and related expenses. • Estimate catering costs. This includes all food and beverage charges, including tips and gratuities — which can account for up to 30%. • Document transportation charges. This includes shuttles, coaches, event transfers, and any related expenses. • Add decor expenses.
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