Cost Saving Tips For your Special Event

Hosting a special event is fun and exciting, but it can also be costly. You want to make sure you aren’t skipping corners and having an event that is going to come off as “cheap” but you also want to be as cost effective as you can when planning. Here are some money saving tips to help you get the most bang for your buck when planning your next special event.

HIRE A PROFESSIONAL EVENT PLANNER

Seriously! Your first thought in hiring a professional event planner might be that it would cost you more money overall for your event. However, hiring a professional event planner will actually help you save money overall because of the event planner’s professional industry connections with vendors. Having a good professional event planner can help you save money on all areas of your event planning because they will have vendor connections with every type of vendor you can imagine, from bakers, caterers, photographers, transportation, venues, and so much more. The professional connections your event planner has with vendors will help you receive the vendors’ services at a discounted rate! Your professional event planner will also help you create, manage, and stick to a realistic budget for your event.

ASK FOR SPONSORSHIPS AND DONATIONS

If you are hosting an event such as a birthday party this might be more difficult to do. But if you are hosting an event such as a corporate event or a charity event or fundraiser, asking for sponsorships and donations will be an extremely effective method to saving money on your overall out-of-pocket costs for your event. Think of everyone you know and any services they offer that may be useful to your event, and then ask if they would be willing to donate their products or services to your event, or if their business would be willing to sponsor your event.

KNOW WHO WILL BE ATTENDING

Knowing the audience for your event is important because it will affect every decision that is made during the event planning process. The number of guests you will have in attendance at your event will determine what the cost will be for your food, drinks, cake, decorations, party favors, and even the venue! You want to get an accurate count of reservations for your event as early as possible, so you can provide accurate numbers when negotiating rates with venues and vendors.

BE OPEN MINDED AND FLEXIBLE ON DATES

Selecting the date for your event can significantly affect the overall cost of your event. If you choose a date that is considered a “peak” time for venues and other vendors, then you will have difficulty negotiating and locking in good rates. However, if you start out with a couple different possible dates in mind for your event and ask venues and vendors when their “slow” time is, then you will be able to make better deals on rates during negotiations. Being flexible will be on of your biggest assets when it comes to saving money on your event planning.

LIMIT DRINK CHOICES

One of the most expensive aspects of any special event can be the drink options – especially if you are offering alcoholic beverages at your event. It is never a good idea to offer an “open bar” at your event if you’re trying to be cost savvy as drink costs will add up quickly. But there are some things you can do that will allow you to still offer alcoholic beverages and save money. You could limit the number of options that are available to your guests – maybe offering only one or two options of beer and one or two options of a mixed drink. You could also limit the amount of drinks your guests will be able to receive for free and then require your guests to pay for any additional drinks themselves – two drinks per guest is typically the standard.

GO PAPERLESS

With the many advances that have been made in technology over the years, we are using our phones and computers for more and more. For many events, it is no longer really necessary to send out a traditional paper invitation via the mail. You can use e-mail to send an invite or even create an event on a social media platform such as Facebook to send your invites out. This will help you save money on both the cost of the invitations and the mailing! You can also further use the power of social media to market your event to your target audience. When it comes to planning your special event, use technology as much as possible to help cut costs throughout the event planning process.
Want to make sure you really get the most bang for your buck on your next special event? Contact Byrd Nest Events & Design today to discuss your vision for your next event with one of our experienced professional event planners!