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Top 5 Tips for finding the right venue for your event

Finding the right venue for your next event need not be a major headache if you follow our 5 Top Tips ....

It will never happen to me! Event Insurance - do I really need it?

How many people in our industry consider Event Insurance? Specialist insurer Hiscox stated that there was a predictable rise in claims for event insurance earlier this year. Despite this, most events were not insured for bad weather at all. Read on for our Top 10 insurance tips ...

The Disability Discrimination Act - Profiting from compliance

As an Event organiser, you know it is the right thing to do, you know you have to do it and you know it makes commercial sense..

10 Commercial reasons to address DDA (Disability Discrimination Act)

7 Top Tips for finding an accessible venue

10 Essential Budget Planning Tips for your Event

Preparing a definitive budget for an event is a challenging task with so many factors to consider, however with the help of our 10 Essential Budget Planning Tips, we hope that the next budget you prepare will be easier to create and pleases the purse holders!

7 Top Tips for a successful Site Inspection visit

Site inspections, or showrounds, serve only one purpose - to ascertain whether a venue is the most suitable venue for your particular event. Below we identify our 7 Top Tips for a successful Site inspection visit:

A Touch Of Sparkle... for Christmas 2009 at Ufton Park

A Touch of Sparkle for Christmas 2009, Celebrate this year at Ufton Park, Reading.Set in a beautifully restored Tithe barn in the grounds of a magnificent Elizabethan Manor House.

6 Top Tips for Hosting a Successful Corporate Golf Day

6 Top Tips for Hosting a Successful Corporate Golf Day

How to use the "Credit Crunch" to your advantage

How can Red Dragon Events help you benefit from the Credit Crunch? More than ever venues need to retain as much exisiting business as possible whilst continuing to attract new business. There are a number of ways in which this can be used to your advantage:

The Spying Game - How Safe is your conference?

"Eureka" moment at 10.04pm

10.04pm "Eureka" moment may spell the end of the early nights! - 4.33pm is the least creative time of the day; - The shower is found to be the most inspiring space; - Women are better at retaining their creative ideas

Conference Food and its effect on your delegates

Conference food - how does the food you serve effect your delegates?

Referral Incentive Scheme

New - Referral Incentive Scheme! Earn a minimum of £50 Bonus Bond vouchers for every successful referral you provide us over a certain booking value! Plus another £50 worth of bonus bond vouchers to the person you referred us to!

Crash Course in organising a Christmas Party 2008

Christmas parties are often the highlight of the year for many companies. Below we have listed some helpful tips to make sure you have a great time!

Early-Eager or PM Professional

A new report shows tapping into a delegate's natural human rhythms can aid productivity, concentration and retention. The Meeting Minds report by Dr Lawrence Smith, senior lecturer at the Institue of Psychological Sciences, University of Leeds, applies psychological theory regarding human rhythms, sleep and work scheduling to the meetings industry.

Rules of Engagement

Rules of Engagement - incorporating new technology

Crash Course in Audio Visual

Using the latest technology can be an important tool in getting the message across at your next event. We have identified below some key points to consider when creating the maximum effect from your AV.

Top Tips for Welcoming Guests to your event

Read our Top Tips for Welcoming Guests to your event!

Top Tips for Hosting a Memorable Corporate Golf Day

Golf is considered one of the most important tools in Corporate Entertaining.

10 Top Tips for Holding Greener Meetings

1. Save Paper. Using new media and electronic technology can cut down your paper use.

10 Essential Budget Planning Tips for your Event

Home Red Dragon Events Newsletters & Resources  

2 Sep 09
Finance and Procurement departments often do not see eye-to-eye with the organisations Event Organisers, more so in this current economic climate where every penny spent must be accounted for and deliver value.

Preparing a definitive budget for an event is a challenging task with so many factors to consider, however with the help of our 10 Essential Budget Planning Tips, we hope that the next budget you prepare will be easier to create and pleases the purse holders!
 
1 - Contracts - To avoid unwanted surprises, aim to include as much detail as possible in the initial contracts, whilst bearing in mind your contractual responsibilities

2 - Minimum numbers - Work with the venue and suppliers to agree the minimum number of delegates contracted for

3 - Expected numbers - Prepare your initial budget based on the highest likely attendance you anticipate

4 - Contingency fund - Allow for a 10-15% contingency fund within your overall budget, based on your highest numbers

5 - Deposits & Invoicing - ensure that any pre-paid deposits and final invoices mirror the quotation

6 - Master Account - Identify to the venue who is allowed to sign to the Master Account and what they are allowed to sign for. Ensure that this is clearly stated on the contract or billing instructions. Inform the venue that any items signed to the master account by anybody other than the authorised signatories, will not be paid for

7 - Equipment - do not assume that flipcharts, pens, ceiling mounted LCD projectors, etc are included in the price. Different venues charge vastly different prices for such items

8 - Additional extras - VAT, service charges, car parking can all add significantly to your final bill. Ensure that you identify with the venue what additional extras might be added to your bill.

9 - Monitor your budget - create spreadsheets at the initial stages to help you identify all the different elements to be included in the budget. Monitor this throughout the preparation stages to evaluate your progress against the budget.

10 - Post event analysis - remember to compare your final total for the event to the budget you set and evaluate areas where changes could be made for your next event
 

Implementing these 10 Essential Budget Planning Tips to your next event could help you manage your budget better, reduce unnecessary stress and avoid unwanted conflict with the finance department. 


Contact Us Today on +44 (0) 845 890 2904 to discuss how we can help you Save valuable Time, Effort and Money booking venues for your next event. We look forward to hearing from you.

 

 

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