5 Secrets to Maximise Your Small Event Budget

Let’s face it, no matter how big your budget it, it will never be enough! Here are our top 5 tips from inside the industry, to help you make that event budget go further.

One: BYO-A
Bring Your Own.. Alcohol! This is something to consider when selecting your venue if you are holding an event that will serve alcohol to guests. Not all venues will allow you to bring your own beverages and some will charge a corkage fee so it’s something to discuss before you sign contracts. While it will require a little bit more work on the planning side, there are companies like Shorty’s who offer cold delivery on the day and will pick up and refund leftover beverages. In addition to saving you money, this option also allows you to pick from a wider variety of beverages to serve if you have a particular theme or clientele. For example, you can serve French Champagne for $60 a bottle, instead of $100+ (which may have been out of your budget) and this is guaranteed to lift the wow factor of any event!

Two: DIY-D
Do It Yourself... Décor! We all want insta-worthy blooms and pinterest-inspired tablescapes, but often it just isn’t in the budget. There are so many amazing styling companies around Australia but one of the biggest expenses is actually the labour. One option if you’re not comfortable going completely DIY is to dry hire from a styling company. This simply means you hire the items but organise your own delivery & installation, and if you’ve hired an event management agency (like JEM events), we can take care of this for you! While décor often won’t make or break an event, it certainly plays a crucial role in setting the tone, so don’t forget about it!

Three: NA*
Negotiate Always*! Like most industries, there are lots of players, which means everything is negotiable. Good negotiation creates a deal that both parties feel good about, so it’s important to offer something in return when you negotiate the price. For example, offering to pay immediately in full if they can take 10% off. It is very helpful to know the standard cost for products and services in the industry so you know how hard to negotiate. This is why having a professional event manager who can negotiate on your behalf can actually save you money.
(*Some small businesses can’t afford to give discounts and we encourage you to support them where your budget allows.)

Four: WWAD
What Would Add Value? This is a great question to ask yourself when planning where and how to spend your budget. It’s important to keep coming back to the ‘why’ of your event – what is the purpose of this event, what are your key objectives and who is your audience. Absolutely nailing one key value-add (something people will remember) can often be better than trying to do everything lukewarm.

Five: PS
Preferred Suppliers! If you hold multiple events per year, using the same suppliers not only saves you time (which is money) but they will continue to give you the best rates in order to keep your business. If you don’t hold multiple events, this is where going through agencies and brokers can be beneficial, as they have the relationships with suppliers and can pass on the savings to you. Of course we don’t want every event to look the same, but suppliers like AV, florists, photographers and even caterers, can all adapt to suit different styles of events. If you can give suppliers repeat business, you’ll benefit from savings over time, and they’ll work within your budget when things are tight.

If you’re overwhelmed, let us help you plan something amazing!
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