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Event budgeting

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by

SID Markkinointi

on 7 May 2014

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Transcript of Event budgeting

4 main topics
Budgeting task!
Create a budget plan for your dream birthday party. It can be as extraordinaryextravaganza as you want, but take in to consideration all the possible costs that's been mentioned earlier in this presentation.
Different ways to cover all the expenses:
Usually the trickiest part of planning an event is creating the budget and staying in it.
Step 1:
Event budgeting
Step 2:
Decide a budgeting tool – good old excel chart is the easiest and most used way.
Big ideas need money
Less money - more creativity
Venue
Catering
Entertainment
Rentals
In Finland the catering and services are usually the most expensive parts when creating an event.
Set an overall budget.
Step 3:
Divide the overall budget in to the four main topics–how big piece of cake each of them is.
Step 4:
Remember to add the following categories in to your charts
- item title
- item description
- assigned vendor
- budgeted amount
- negotiated amount
- actual amount (cost)
- payment
Combine all the expenses in to a one page. It'll help you following the budget.
Volunteers
Sponsorship / partners
Charity
Selling tickets / products / services
Food / Catering:
- Food
- Beverages/Bars
- Cakes
- Pastries
- Catering staff fees
- Gratuities

Venue expenses:
- space / room rental
- power
- parking
- security

Floral & decor:
- floral displays
- plant rentals
- signage
- room decor
- table decor

Music & entertainment:
- musicians
- DJs
- speakers
- masters-of-ceremonies
- officiants

Rentals:
- tables
- chairs
- bars / tents / stages
- amusement attractions
- lighting
- setup/teardown
- delivery charges

Audio / visual:
- AV equipment
- microphones
- screens
- projectors
- internet access

On-site transport:
- buses
- taxis
- vans
- limos
- carriages

Furnishings:
- drapes
- carpets
- rugs
- large cosmetic
structures
- furniture

Linens:
- table clothing
- chair coverings
- cloth napkins
- table drapes

Travel / hotels:
- guest travel
- hotel rooms & room blocks
- tickets (airplane, train,
bus, ferry...)

Marketing:
- event websites
- advertising
- email services

Printing:
- invitations
- save-the-dates
- programs
- name badges
- graphic designers
- calligraphers
- postage/shipping

Activities:
- golf
- spa
- tennis
- other sports & games

Attire:
- costumes
- uniforms
- wedding attire

Cosmetic services:
- hair
- makeup
- manicures
- pedicures
- spa services

Gifts / awards:
- favors
- prizes
- gift bags
- welcome & parting gifts

Photography & video
Event planning fees
Event production fees
Software & apps
Permits & licences
Insurance & legal fees
Possible expenses in events
It's always a good idea to get estimated prices from multiple vendors, especially in catering and venue matters.
Be precise when filling in the actual amounts in to the budget.
Remember flexibility!
Full transcript