It is hard to plan an event budget unless you have a good idea of what expenses you will incur. This seems obvious enough, but the costs associated with event planning can come from a number of different places. Just when you think you have identified all of your expense categories, another one pops up to send you back to the drawing board. To prevent this from happening to you, I have put together
this outline of event planning expenses to keep in mind while creating your budget.
Included here are the costs and fees typically charged by the event venue. This is often the most expensive category, but it is also the easiest to predict since you will get a formal cost estimate to review in advance. With that being said, don’t forget to factor in variable costs that change with your attendance numbers. Catering is a good example of this as your food costs will increase with each addition to your roster.
Food and Catering
-Bartender/Server Labor Fees
-Tax and Service/Gratuity Fees
-Screens and Projectors
-Other Specialized Equipment
This category represents all of the items and services supplied by vendors outside of the host venue. Each one will bill you independently, so it is important to keep close tabs on everyone you are working
with. Using a spreadsheet will help you organize your vendor contacts along with the costs associated with their services.