Essentials of planning corporate events and how to source for funding

Posted By on Jan 8, 2016 |


Corporate-Event

Corporate events vary in prices depending on several factors. Such factors include the size of the event, which gets determined by the number of expected guests. The economic status of the organizer also matters a lot. Events come hand in hand with things such as marquee hire, chair hire, and even catering hire. All of these because there is the need for furniture such as chairs and tables.

At times, Marquees need some decorations too and some lighting. That said you cannot afford to contact any of the companies involved in offering such services if you do not have money. As such, keep reading to find out ways in which you can effectively source for your event’s funding.

Prepare a finances plan: in most of the cases, events get funded either through sponsors, marketing budgets or in rare instances ticket sales. At times, you can even combine two or all of the three strategies. For effective planning, prediction in terms of the money any of the strategies can raise should be realistic. Therefore, it calls for prior finance planning so that you determine your venue early enough based on the amount of money you intend to have raised by the time of the event. For instance, if you plan to use ticket selling as a way of funding, the sales should start early.

Co-hosting: you probably have seen people hosting events in partnership with others. As a small entrepreneur, this is a very nice way of funding events. Other sponsors could even donate things in kind instead of monetary terms. For example, if you partner has a company that provides catering services as well, they could sponsor the catering bit of it. The bottom line is that the donations do not have to be in monetary terms. Welcome, whatever you associates have to offer.

Crowdfunding: Crowdfunding is one of the newest strategies in the market. It is a platform where you get to post your event in detail. If the minimum guest requirement does not get met, then you call off the event and that reduces the risk of loss. If you happen to achieve the minimum requirement, then the attendees make pledges, and you raise money or resources that way.

Conclusion

Now that you know how to raise money for event funding, it is time for you to hire all the things you need and push on with the plans. Just because, the money comes hassle-free, you cannot afford to be careless with it. Therefore, it is still wise that you contact several service providers to determine who offers the best bargain for quality services. In case you save some of what you raised, there is always next time, and then, you will not have to go through the tedious process of resource sourcing techniques.