Venues are one of the most important components to successful events.
However, the venue you use is most likely one of, if not the biggest, expense on your event budget. The planners at LEO Events have shared some tips to help event organizers keep their venue costs as low as possible. Here are our top 5:
1. Flexibility With Date and Time
Similar to buying airline tickets, the dates and times you choose for your event can drastically influence the price. Narrowing the date down to a few different options gives you some wiggle room with pricing. Try picking dates where the venue has a low demand.
2. Compare Apples to Apples
If two venues cost the same but one provides free parking and the other does not, the venues cannot be considered equal. Look for items that you will have to provide in addition to the venue rental that will hit your budget such as rentals, security, and even air/heat for load in and load out days.
3. Be Up Front About Your Budget
Many planners feel that being blunt about a budget puts you at a disadvantage. If you truly have a set budget for your venue costs, go ahead and cut to the chase with the venue. We recommend letting the venue know a number that is lower than your actual budget is, allowing some room for negotiating.
4. Compare Different Venues
Getting quotes from several venues allows you to help compare costs and make sure you’re getting the best deal. Even if you have your mind set on a particular venue, competitive quotes can be used in negation to help drive the costs of other venues down.
5. Don’t Wait Until Last Minute
Planning your event early gives you the most bargaining power, so make it a priority to book the venue as early as possible.
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