10 Types Of Event Organization Costs You Should Know
The cost of organizing an event depends on many different factors, such as: time, location, scale, number of guests, event equipment, etc. Therefore, events, when organized, will have costs. Organization fees vary. If you are planning a cost estimate for an event program, below is a detailed summary of the cost of organizing a full, professional event from HoaBinh Events.
Summary of detailed event organization costs
1. Location rental costs
The first cost that businesses need to pay attention to when organizing an event is the cost of renting the venue. Depending on the scale of each event and the event’s budget, the rented location will be selected accordingly.
When renting an event location, you need to survey that location to see if the space, area, and services are suitable for the rental price. Typically, large, high-scale, and outdoor events will have higher rental costs than indoor event venues.
In the process of finding a suitable event location, event organizers often prioritize choosing places with suitable, free parking available so that customers feel most comfortable when attending the event. When renting a location, you need to pay a deposit in advance. After the event ends, the remaining cost will be paid at the same time the venue is handed over.
2. Equipment and supplies costs
Costs for renting equipment and preparing items account for the majority of event organization costs. Here are some items to pay attention to:
Sound and lighting rental costs
The cost of renting sound and lighting equipment is very important when organizing an event. With larger-scale events, businesses pay more attention to investing in sound and lighting. Because the better, more modern, and higher quality the equipment, the more technical errors are limited, ensuring an explosive event with professional sound and light.
Sound and light equipment often have many different classifications, linked together and supporting each other to create the best effect. Because when budgeting for sound and lighting rentals, you need to clearly list the equipment you need to rent and the quantity to easily manage the budget. If you don’t really understand sound and lighting equipment, you can ask for advice from the rental unit.
Event decoration costs
Event decoration includes a guest area, check-in area, and reception gate. Specific costs that need to be paid for each item related to event decoration include:
- Stage area: Cost of design, stage construction, event backdrop printing, other accessories (flowers, podium, fireworks, red carpet, etc.)
- Check-in area: Cost of printing photobooth, handheld hashtag, lights, photobooth frame, etc.
- Guest welcome gate area: air gate, balloon gate, standee, banner, welcome flowers,…
- Other inviting areas: Decorate the banquet area, decorate the surrounding space…
Costs for purchasing and renting necessary equipment and supplies
Other items that need to be purchased or rented when organizing an event include:
- Event tables and chairs
- Projection equipment, LED screens
- Red carpet
- Tents and umbrellas
- …
3. Cost of hiring an MC
The cost of hiring an event MC also plays an important role in the event organization process. Because the MC is the host of the event, and for any event, an MC is needed. In other words, the MC is an indispensable part of the event organization process, playing a very important role in the event.
Therefore, when looking for an MC for an event, you need to look at the MC profile, see the programs that MC has hosted to accurately assess the MC’s ability, and then choose the right MC for your program.
4. Cost of hiring a dance company, dance group, DJ, etc.
To make the event program more attractive, businesses often choose to hire dance groups, dance troupes, DJs, etc. to bring unique and attractive musical performances. Depending on the scale of the event and the event’s budget, the cost of hiring a dance company, dance group, singer, DJ, etc. will vary. There are singers, music groups, DJs of class A, class B, class C,… for you to freely choose.
They are all professional, capable artists and have the ability to master the stage well, ensuring professionalism for corporate events. Therefore, in the checklist of items to rent when organizing an event, consider and limit a certain cost for this activity to balance and choose the appropriate service for the event organization process.
5. Cost of hiring service personnel
To organize a successful event, it is impossible not to mention the event service personnel. They are people who have the ability to organize and support events professionally. Below are some service departments that support event coordination:
- Managing and supervising events
- Sound and light engineering
- Event reception
- Event protection and security;
- Staff
In addition, for large-scale events, you can hire additional event support personnel to ensure professionalism for the event, such as:
- Food service management
- Event assistant
- Manage customer service,…
When hiring personnel to serve an event, you should not hire individual departments but rather book personnel services with a professional event organizer. Because each group of employees will have their own way of working and their own culture. Booking individual groups of personnel can easily cause disagreements about how to organize and operate the event.
6. Event management costs
Event management costs are the fees you need to pay to the event organizer. When you hire event organization services from agencies, those units will closely follow the event progress and provide maximum customer support before, during, and after the event to ensure the event takes place smoothly most professional. In other words, event management costs are the “warranty fee”, ensuring the success of the program.
7. Media rental costs
When organizing an event to save memorable moments and create corporate media images, hiring media to film and capture the event is inevitable. Normally, media service providers will have service packages to help businesses optimize and save costs. Media costs include:
- Shooting equipment
- Shooting staff
- Travel expenses
- Meal expenses (if any)
8. Cost of applying for an organization license
When organizing an event, the organizer must apply for a license from the competent authority. The permit application procedure is clearly stipulated in Vietnamese law. Applying for permission to organize takes a lot of time and effort.
Besides, many businesses still do not have the necessary documents to apply for permission to organize events. This causes difficulties in the process of applying for a permit.
Therefore, usually, businesses still go to law offices or units specializing in licensing work for support. Of course, there will be a cost for hiring a service to apply for an event license.
9. Risk management costs
Risk management is the estimated cost of resolving problems that arise during the event organization. Because, no matter how carefully prepared an event is, no matter how much investment is made, it is very difficult to avoid some problems that arise.
This cost is intended to promptly support departments in case additional procurement fees arise, fix problems during the event organization quickly and effectively, and minimize disruption. influence guests attending the event.
10. Other expenses
To support event decoration, don’t forget to prepare some other items such as: screwdrivers, tape, ribbons, scissors, paper knives, etc. These items are small but indispensable for Support for event preparations. Besides that, there are a number of items that need to be spent during the event organization such as: event communication costs, party organization costs,…
Depending on the scale of each event and each venue, these costs will vary. For more convenience, you need to create a clear checklist with all the necessary equipment to effectively support the event. Equipment procurement and preparation are carefully calculated to avoid over/under purchases that affect the setup and construction process of event organization.
Price list of all-inclusive event costs
As mentioned above, event organization costs are not fixed. Each program has different characteristics, uses different event organization services and aims for a different goal. Therefore, from decoration, setup, and event support personnel of each program, the costs are different. So, giving a general event price list is impossible.
Customers who need to organize an event should contact professional units, make specific requirements and receive specific quotes. This will help quote prices closest to the actual conditions and requirements of the business.
HoaBinh Events – One of the professional event organizer
HoaBinh Events is a leading professional unit in the field of event organization. During our operation, we have had the opportunity to work and cooperate with thousands of individuals, organizations, and large and small businesses, providing professional event organization services at the most reasonable cost.
Therefore, we are confident to bring customers the most impressive and successful event organization services:
- Creative ideas, unique concepts
- Professional, creative and experienced staff
- Modern sound and lighting system
- 3D design, stage construction as required
- Ensure correct procedures and strict supervision
- Consulting and customer support 24/7
We hope to have the opportunity to accompany and bring a perfect, professional event program to your business. For advice and to book a full event organization service, please contact to HoaBinh Events through our hotline: 0913.311.911 – 0939.311.911 for 24/7 support.
