17/08/2023
It can be so frustrating
You’re putting in endless hours and racking your brain to organize the most impactful experience for your community
Yet, you’re losing money.
This might be why..
You’re not properly building out a realistic budget with actual estimates.
It’s so incredibly easy to ‘guestimate’ how much your event experience will cost
But oftentimes we underestimate at least 80% of the line items.
And just like that, the expenses exceed the revenue. 📈
On top of it, you don’t have a realistic budget to reference what ticket prices you should sell at.
And that’s why you’re losing profits.
Build out a comprehensive budget document that lays out all your desired event needs, such as
👉🏼Venue
👉🏼F&B
👉🏼Entertainment
👉🏼Rentals
👉🏼Tech & Sound
👉🏼Decor
👉🏼Speaker Fees
Reach out to multiple vendors and collect estimates on each area of your event vision.
Utilize these estimates to understand at what price point will you break even vs. make profit.
You will find that making a profit from your event will be much easier budgeting this way💸
Comment ‘BUDGET’ below if you’d like to get your hands on our all-in-one event budgeting template which contains a full event budget template, a ticket pricing formula, an expense tracker and a sponsorship financial summary.