13 Aug 9 steps to plan an indoor event on a tight budget
event planning is tricky and when you are working on a tight budget it can become quite stressful. however, a tight budget shouldn’t stop you from planning a great event that still leaves a strong impression on all your guests. as corporate event planners below are a few steps we recommend to make sure you plan the best event you can on a budget.
- create a budget
creating a budget sounds simple, but it is vital to sit down with your stakeholders and go through it. as corporate event planners, working with a budget helps streamline the process and get the results you need. make sure you know what is important to you, is it the venue? is it catering or is it entertainment? this can then help you split up your budget into certain items.
- venue choice
the venue is usually very important for an event. it will also most likely be your biggest expense, therefore we always suggest planning this part as early as possible. when you are working on a tight budget you will need to be able to have plenty of options to choose from. leaving it last minute will hinder that.
- catering choice
catering is usually what guests remember most at an event, so it is very important to get this right. you can still have great catering on a small budget. as for the venue you need to arrange this far enough in advance, so you have options. when working on a tight budget having street food stalls inside always work well and stay away from a sit-down meal. you can also look at limiting the drink choices creating a small but exciting-sounding menu.
- av
av can be a big cost to any event. it is vital to make sure you know what you need so you don’t incur any additional costs along the way. with a tight budget, have a think about what you actually need. if you are doing a meeting for 1-2 hours, do you really need to go all out? if the stage and set are really important to you then make sure you have allocated enough budget to this section.
- negotiate
when working on a tight budget event corporate planners always need to be ready to negotiate. you should try negotiating on every element of your event, from the venue to catering, to entertainment. compare all quotes and see what seems the best value for money. if suppliers aren’t able to lower the price see if there is anything they can throw in complimentary to jazz the package up.
- be flexible
organising an event on a tight budget means you need to be flexible. you may need to make compromises to make it work. look at holding the event on different dates and see if that can help reduce the price. you honestly will be surprised at how many people would turn up to an event on a monday, especially if it is something they are interested in.
- invite sponsors
sponsors can help elevate your event to the next level. whether they pay for certain elements of the event in return for brand recognition or provide fun swag pieces for the event. sponsors could pay for parts of the av in return for a small segment in the programme to promote themselves. with a tight budget, sponsors are always great for helping to plan a great event.
- choose your entertainment or activity
we have seen a huge rise in demand for team building activities as part of a larger event. team building events are extremely popular at the moment due to covid and teams not being able to socialise as a result of this. there are plenty of team building events you can do on a tight budget. first of all, you need to think about what you want to achieve from it, are there any business goals you want them to relate to or is it just a bit of fun for the team. then enlist the help of a corporate event planner to help you find options within your budget.
- could you take your event online?
if you are working with a really tight budget, it might be beneficial to look at moving your event to the virtual world. over the last 18 months, online virtual events have really taken off. we would suggest using an online platform and broadcasting on there. you can still have great audience interactions at an online event with q&a sessions, polls and online team building activities.