Budget – Everything Has a Price

Everything Has a Price

So you want to know what’s included in a budget.   Everything.  Meeting and events cost money.  Make a list of every anticipated expense as well as; all revenues.

dollar-sign

 

 

 

This is a list of items found in budgets:

 

 

 

 

* Labor                                                 * Venue                               * Travel

* Insurance                                        * Merchandise                  * Marketing/Promotion

* Planning System                          * Printing                             * Food/Beverage

* Decorations                                   * Entertainment               * Speaking Fees

* Attire                                                * Salary                                 * Flowers

* Gifts                                                   * Awards                             * Administrative Fees

* Give-A-Ways                                   * Security                            * Photographer

* Credit Card Fees                             * Tickets                              * Phone

* Wi Fi                                                  * Gas/Mileage                  * Website

The list goes on and on.  Items on this list can be broken down into line items.  Some will be grouped together and others will be their own category.  When developing keep the current industry trends in mind and their costs.  Think about how they will impact your budget and look for comparable substitutions.  Trends are easy to spot and if you’re not sure take a look at social media sites, TV and your industry trade magazines for more information.

In today’s fast paced information track most event organizers use online registration which is a trend that can also impact your bottom line.  You may also want to offer paper registration by request.  Now that you know what is included in your budget you can effectively begin to organize your financial outline.

… Happy budgeting

Pharice Brown

Word of Mouth Events & Planning
Bladensburg, MD 20710

Toll Free Phone and Fax: (866) 905-9002 ext. 102#

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