Private venue hire London Schoolhire Solutions Ltd
Private venue hire London: venues perfect for autumn/winter events
October 9, 2024
Best venue hire Berkshire Schoolhire Solutions Ltd
Best venue hire Berkshire
October 9, 2024
host an event on a budget Schoolhire Solutions Ltd

Event budgeting: how to host an event on a budget

Hosting an impressive and enjoyable event on a budget can seem like a difficult and daunting task, but with the right tools, knowledge and considerations can be easily achieved. So, here, we’ll answer the question: how do you host an event on a budget? 

How do you host an event on a budget? 

Consider your location: the location of your chosen venue can have a significant impact on your budget. A venue in central London, for example, could come up 2 or 3x more expensive than a venue in Greater London, simply because it’s in high demand, experiencing higher costs, in the middle of the UK’s capital city! Going slightly further afield could save you a lot of money. 

Create a detailed budget: establishing your budget as early as possible and working out a minimum and maximum ideal spend on each element of your event, such as venue hire, entertainment, food & drink, and chairs & tables or staging, will make it much easier to control expenses throughout the planning process. 

Consider the venue: the type of venue and its location can have a big impact on your budget. For example, hotels can be luxurious and expensive but also expensive, yet school facilities or community halls tend to be much more affordable.  

Allocate a contingency fund: setting aside a little bit of money – say a couple of hundred pounds – for unexpected expenses, such as if the event requires additional health and safety precautions or catering costs a little more than expected – is good practice in ensuring overall costs don’t spiral out of control, and you’ve made accommodations for risk. 

Consider sponsorships: reaching out to potential sponsors such as local businesses can help, not only in keeping costs down, but also in raising awareness for your event, as well as create a mutually beneficial relationship. 

Plan, plan, plan: creating an organised timeline for the event, including introductions, speeches, refreshment times and end times can help you keep your event under control and ensure that nothing runs over time and therefore over budget, as those additional hours can really run up a hefty bill! 

 

To browse our growing directory of affordable facilities for hire, please click here or contact us to discuss your event requirements.

Alternatively, please consider signing up to our monthly email newsletter

Leave a Reply

Your email address will not be published. Required fields are marked *