You're toying with the idea of organising an event. But before you start, you get stuck on an important part: money. Because how do you determine the budget for an event? We will explain that to you.
How do you budget?
A good budget is perhaps the most important part of making your event successful. Because if you don't know how much money you can spend, you won't be able to make smart choices while organising. These are the steps to take to prepare your budget.
- Choose a venue and think about the basics
The event venue usually requires a large part of your budget. This is because it goes beyond just renting the space. Sometimes you can get other things as well. For example, technology, furniture and catering. Are you planning to organise an event at Jaarbeurs? Then we will be happy to make you a quotation that includes everything. This way you know in advance exactly what you will spend.
- Technology, production and staff.
Another cost item for which you need to set aside enough budget is technology. It is both essential and indispensable for a successful event. Sound systems, lights, cameras ... you don't want to skimp on these. Because just imagine: you want to offer a livestream, but the wifi breaks down. Oy! That shouldn't happen. Moreover, don't forget the staff you need for this. For example, the cameraman and coordinators. Or the hosts, for example.
- Speakers and other programme elements
Think carefully about what your programme may cost. How much are you willing to pay for a speaker? And what about any travel and accommodation costs for that person? In addition, think about other programme components. For example, someone who gives a workshop. Or a band or DJ. Think in advance about how much you want to spend (approximately), so you will know better who to approach.
- Promotion and communication
You also want to sell your event to the general public. Therefore, also allocate part of your budget to event promotion. Social media campaigns, for example. Or advertisements. Do you need an event website, or do you post something on your own website? And how do you sell tickets? Some platforms charge money for this too.
- Consider unforeseen costs
There are always expenses that you hadn't calculated in advance. Sometimes these are costs that can add up quickly, sometimes just small expenses. Think of an extra microphone, a last-minute change in the programme or longer set-up time (and therefore more staff hours). Reserve at least 5 to 10 process of the total budget for unforeseen costs.
Note: your budget never stands still. It is, as we say with fancy words, a living document. So regularly check whether the actual expenditure is in line with your estimate. And if not, make adjustments. By keeping a file up to date, you can see exactly whether you are sticking to your budget. And if you exceed it, you may be able to correct it with other expenses.
Giving an actual budget of an event is complicated. After all, the actual costs are closely linked to the purpose, the number of people, the space, catering, etc. Therefore, ask well in advance what is compulsory at the venue and what you can (or want to) arrange yourself.
But, a draft can look like this:
- Venue rental: room for x number of people €....
- Catering: lunch and a snack €....
- Technology €....
- Speakers €....
- Marketing and communications €....
- Decoration and furnishing €....
- Staff (hosts, security, etc) €....
- Unforeseen costs (10%) €....
- Total €....
Organise your event strategically
Making an event budget is more than just thinking up amounts. It is a strategic process where you continuously make choices about what is really important for your event. If you say 'yes' to everything, then you know for sure that you will go over budget (unless you have an unlimited pot of money, but we don't think so!).
Another component is revenue. Is your event free or paid for by participants? In addition, do you choose sponsors, and if so, how can they contribute? That too deserves a place in your budget.
Get help from professionals
We understand that you don't make a budget every day. It is a complicated but hugely important part of organising an event. That is why we like to help you. Because we know exactly where the most costs are and which parts may need less attention. If you request a quote from Jaarbeurs, you will get transparent prices. And if you want, we will also think along with you about alternatives. With us, you get the versatility and flexibility you need to make your event a success. We are here for you!
