Before any event planning begins the creation of a budget should be the primary concern. A properly compiled budget includes line items for every single item needed for the event as well as estimated and actual costs. Event budgeting can be done with a notepad and pen; however, tech-savvy individuals will benefit more using a spreadsheet software like Microsoft Excel.
Budget management is one of the most pivotal components for managing an event effectively. In the same way that budgeting for groceries and bills helps control costs, budgeting for an event will function the same. Planning your budget ahead for problems helps avoid unforeseen expenses that may arise during the execution of an event.
In most cases, budgets will tend to get caught up when determining the venue to use. Choosing the properly sized venue for your event and accounting for any perks obtained from having the event at a venue is one of the most important components in event planning and reflects on the budget accordingly. Budgeting for a venue accurately can make a big difference in budget adherence, whether overspending or underspending occurs.
If the event being conducted requires an entry fee, budgeting can help determine a break-even cost to determine how many tickets need to be sold and to how many. Without proper budgeting, an event can take a financial hit quickly. Creating a budget is imperative in avoiding many event planning pitfalls, don’t let them happen to you!
If you are currently budgeting for a venue for your event, Stokely Event Center can make sure your special day is unforgettable. Guests will love the free-to-play games and a wide assortment of decorative signs. With the flexibility of catering in outside food and drinks, event menus can fit a variety of preferences. Our sound system, projector and screen are included for one great price to meet your audio/visual needs. If you are interested in reserving Stokely Event Center, please call us at 918-664-4724 or complete our online request form. We can’t wait to be part of your special event!