Running a special event can be a great way to have some fun, network, and get to know clients and colleagues. You can also use these events to impress potential new clients and showcase your business, all while quickly gaining trust and loyalty. However, hosting a corporate event, especially one you are inviting potential clients or investors to, can be incredibly stressful and expensive. If you are running on a small budget, or want to keep costs as low as possible, there are some easy and effective ways to save money without losing quality. Here are some of the best:
Venue
The venue, is often your biggest expense. So, be sure to shop around. Some tips here include hosting your event on a weekday or out of peak season, and being careful what you say in early negotiations. Saying words like “wedding” or “corporate” can often drive prices up. You don’t need to tell them what you are using the room for, so until they’ve made an offer, stick to “party” or “event.” Also, watch out for venues that will only allow food if it’s provided by their in-house team, as this can often be incredibly expensive and make any savings on the price of the venue redundant.
Call in Favors
Ask people you know to help, either for free, or for mate’s rates. If your friends, family, or contacts include caterers, entertainers, photographers, or artists, you can use their skills. Another way to save money on some of these things is to use students or freelancers. Contact local colleges and universities and see if you can offer any of their students work experience.
Save on Decorations
Decorations can be another huge expense, and no one really pays them that much attention. One of the best ways to make things look professional is to keep it simple. Professional decorating companies will charge you a fortune, so enlist help and do what you can yourself. Save on any future events by leaving dates and specifics off any decorations and marketing materials.
Chair Hire
Chair hire may not seem like an enormous expense. But, multiply the cost of one chair by the number on your guest list, and it’s suddenly astronomical. Look at some cheaper alternatives. Even simple plastic chairs can be dressed up to look elegant and sophisticated.
Plan Food Carefully
Think about how much food you actually need. Consider a shorter event if that means you only need one meal. You could also shorten sessions so they don’t require refreshments in between. Buffets are a great option for saving money, and hot food buffets are on trend.
Utilize Email
Instead of sending out expensive invites, itineraries, and other written information, use email. Email your original invitations, then invite all your guests to join a social media group to keep them informed before the event.
One of the keys to a successful, yet cost effective, event is to prioritize. Think about which areas you feel are worth spending the most on. Allocate most of your budget to these areas and save or cut elsewhere. The main things are to enjoy yourself and get as much out of the event as possible.
