All the details can really add up when planning an event. If you're not careful, your budget can be blown before you know it. Here are some tips to help keep costs down without sacrificing style or quality.
1. Invest time in researching products and services.
"Do your homework," says Aviva Samuels, president of decor company Outside the Lines, "Spending a little bit of time in the beginning can save you a lot of money in the long run." Additionally, with so much product and so many suppliers to choose from, researching who will be most flexible and offer the best pricing and quality will help to ensure you select exactly what you need, reducing the chances of last-minute mistakes.
2. Choose a venue and a theme that are compatible.
If the venue has a great garden outside, extend the garden inside. If the space is high-tech, don't try to create a Cinderella-theme gala. "In other words, work with what you've got, not against it," says Phyllis Cambria of the Special Events Group. Trying to completely convert a space will cost too much in time, effort, and money. When you're planning, think, How can I make this work as opposed to How can this be changed.
3. Know your company or client's objectives from the start.
Wouldn't it be great to have all the bells and whistles at your next event? Sure, it would, but with smaller budgets, the best option is to pick one or two great things and make them a focal point. For example, if you know your client cares mostly about dancing-get the best band the budget will allow. Or if food is the hot button, have the caterer go crazy, and cut back on the decor. "Be sure to ask-and reconfirm-what is important to the client," says Karen Farrington, president of Suncoast Meetings and Events. "Put it in writing and have the client approve it and then make it happen."
4. Water: Stations versus bottles
"It may sound silly," says Crystal Bruce, senior meeting planner for Raymond James Financial Services, "but if you opt for water stations with pitchers of ice water instead of bottled water, you'll save a lot of money. For example, some hotels charge $3.75 per bottle. At a 2,000-person meeting at one bottle per head, that's $7,500. If the meetings run for three days, that's $22,500 you'd spend versus nothing for the pitchers."
5. Make Thursday your Saturday.
Most galas and balls occur on weekend nights—especially Saturdays. That is the highest priced night of the week—especially during the busy season from November through May. You may need to make the party begin and end a little earlier, but try an extended cocktail party or a business casual event—you'll find a difference in price on the rental of the space, the cost of the entertainment and other minor items including decor. The only place you may not catch a break is with the food.
6. Be resource-full.
It doesn't matter if you are based in Tampa or Miami—there are great vendors all over the state. If you know of a talented resource that is outside of the immediate area, give it a chance. Companies based beyond the more metropolitan area come with smaller price tags and will often try as hard if not harder to get the job done well.
7. Search out items in unlikely places.
Novelty catalogs, flea markets, and thrift shops are a few good ideas. Online resources are invaluable. "We look for items in all kinds of places," says Kelly Murphy, owner of Panache Party Rentals. "When planners come to us, we need to be as fresh and different as possible."
8. Look for fresh faces.
Sure there's comfort in consistency but keep your eyes out for new talent. With so much talent in Florida, the market is fierce and new vendors are likely to be more flexible in their pricing. "Don't be afraid to try new vendors," says Bruce. "If their cost comes in lower and you believe they are of the same quality, give them a try."
9. Hook into another event that is ongoing.
Phyllis Cambria of the Special Events Group cites the Renaissance Festival as a good example piggybacking onto another event. "You can tie your event into any ongoing event and you'll probably be able to use their space and decorations," she says. "That cuts down the expenses of decor, set up, etc. Entertainment is also probably there already and they're usually amenable to letting you use it."
10. Listen to colleagues.
Talk to the people in the industry whom you know and respect. Ask about companies they've used, who are reliable vendors for various services, who is reputable and reliable, and most important, how their prices are.
—Shari Lynn Rothstein
