Hosting corporate events is a crucial element in building lasting business relationships. It’s also one way to boost employee morale. But there’s no doubt that planning and hosting one requires time and resources. And when the company has a limited budget for these extra-curricular activities, the best strategy is to consider these money-saving tips.
When event entertainment is a must
Entertainment adds colour and fun to a corporate event. Whether it’s an employee fun day or an exhibition, you can find appropriate entertainment options at affordable prices. To save money, look for a provider that offers well-rounded solutions. For example, a fairground hire is an excellent choice for fun days because you get an all-in package that may include food carts and other refreshments. Looking for an entertainment package that covers other essentials will lessen the hassle and reduce logistical problems.
A venue with open catering is preferable
Open catering means you can hire any caterer you like or bring food and refreshments from outside. When a venue does not allow this, you could end up spending more. Not only that, your choices are limited.
With open catering, you have more flexibility to work within your budget. You can choose food and drinks that fit the event’s theme and ensure that your guests will enjoy them too. For more savings, go with a buffet-style set-up instead of a sit-down meal. Family-style or buffet dining is satisfying and won’t require you to hire more staff.
For informal events, renting food trucks is another budget-friendly idea. You can experiment with different cuisine styles, making it easier to choose dishes that fit the theme. Also, food trucks are pretty trendy and are an exciting way to highlight the food menu.
Go for minimalist décor
A nice-looking venue is a key to any successful corporate event. But spending on décor should be last on your list. To reduce expense, you need to look for a venue that already looks good without adding many decorations. Outdoor spaces, for example, already feature lovely views. A swanky rooftop is another good choice because all you need is good lighting.
It’s always a good idea to choose an interesting venue that’s already an attraction in itself. A few details here and there should be sufficient to make the place perfect for a corporate event.
Require guests to confirm attendance
Expenses for an event can quickly add up as the guest list also increases. Although you can’t always reduce the guest list, you can minimize costs by requiring them to confirm an RSVP. Send the request well ahead of time so that you can cut expenses according to the confirmed attendance. Also, it’s best to look for a vendor that will allow you to cancel. For example, if you’re renting chairs and tables, make sure you have the option to reduce the reserved number in case the number of guests changes before the event.
Making a corporate event more cost-effective can be challenging. But, if you plan well and look for creative ways to save money, it’s possible to host a successful event without worrying about your company’s overhead cost.