If there’s one conversation you have with your clients more often than any other, it’s about event budgeting. Some of your corporate clients and social event planning families don’t have the right expectations about what today’s amenities and event aesthetics cost. And you’ll regularly have to remind clients just how much it costs to book the best event elements.
But what about event budgeting on your end? Are you diligent about negotiating the best rates for event products and services? Moreover, are you overspending on some of these New York City event essentials?
New York Event Venues
A significant portion of any event budget will go to the event venue. So, you’ll want to make sure that you’re squeezing every last drop of value out of those investments. Make sure you understand every aspect of the booking agreement, with transparent outlines of services provided, associated fees, and requirements. Don’t get blindsided by hidden fees. And don’t run into surprises with your event venue underdelivering the day of your event.
New York Catering Companies
Another aspect of your event planning that can sometimes go over budget is the food. You’ll need to arrange for meals, which is usually the obvious conversation you’ll have with your caterer. But don’t rush into booking a caterer without sampling the far first. And then make sure you know and understand all of what’s being provided, including any meal service prep and clean-up. You’ll also need to make arrangements for other food-related services, including post-meal snacks, beverage stations, desserts, and appetizers. It can be easy to overspend if you’re not careful, especially if you’re tackling the latter list after you’ve already booked a primary catering service.
New York Entertainment
Depending on the theme of your New York event, you’ll face some hefty costs associated with event entertainment. From live bands and high-energy DJs to celebrity appearances and keynote speakers, the best entertainers come with big price tags. Make sure, before you book talent, that you’re choosing the best-fit entertainment for the type of event you’re hosting. And vet every candidate carefully before booking, so you’re sure you’re bringing in reputable and responsible performers.
New York AV Production
Production and design companies are often key elements of corporate events and social celebrations alike. Anytime you have an engagement that requires stage presence, video presentations, or AV production, these vendors are essential. But don’t overspend on anything you don’t need. And in some instances, the right venue has built-in AV staff on-hand with the necessary equipment and tech. Like with other vendors, scrutinize the agreement so you understand what is expected to be provided.
Tips for Improving Your Event Spending
Look for ways to improve event budgeting and spending by being mindful of every event partner you engage. Consider these event budgeting suggestions, too:
- Vet everyone before booking, including verifying references.
- Sample the goods whenever possible.
- Get more than one quote.
- Make contingency plans.
- Learn from past event successes and mistakes.
When you plan your New York events, have a system in place to help you maintain your budget every step of the process. And learn more valuable event planning tips from top professionals when you attend The Event Planner Expo 2023!