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Event estimate and checklist

Plan your expenses well in advance to avoid unfortunate budget gaps after the event has taken place

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An estimate is a document that reflects the projected costs of a project. It contains a detailed list of all planned expenses and revenues, helping to control financial resources and ensure their efficient use.

The event estimate includes all possible costs associated with the preparation and conduct of the event, such as renting a venue, technical support, catering, advertising and others. An event estimate allows organizers to clearly understand the necessary financial resources, effectively allocate the budget and set ticket prices for participants to cover all costs and ensure the success of the event.

Why it is important to plan your event in advance

Event planning

Planning an event in advance is key to its success. This allows you to:

  • Ensure financial stability

    Planning ahead helps you avoid unexpected expenses and allows you to better allocate your budget while still at the start.

  • Ensure quality

    You'll have enough time to find the best suppliers and finalize all the details.

  • Avoid stress

    Last minute preparations and searching for funds to “plug holes” can lead to stress and mistakes, which can negatively impact the event.

  • Increase efficiency

    You'll be able to better organize your team and assign tasks, which will ensure efficiency.

How to make a proper estimate

Categories of expenses

Determine the categories of expenses - make a list of all possible expenses that may arise during the organization of the event, for convenience you can divide them into categories (groups). Location and everything you need on it, catering, evening program, printing, etc.

Expenses of each category

Estimate the costs of each category - do a market analysis to find out what the estimated cost of everything you have included in the cost sections is. If you have experience with past events, great, but if not, call 3-4 contractors and find out the current cost.

Unforeseen expenses

Add unforeseen expenses – Always budget an additional 10-15% of the amount, because the cost of goods and services is constantly changing, and the number of participants is not always clear at the start, and the excitement may be such that you will have to quickly order more.

Devices and operating systems

Analyze and adjust – constantly review the estimate, immediately make the necessary changes and current prices, so you won't be surprised that everything has risen in price in 3-4 months of preparation, or the hall is already occupied and you need another one.

What does the estimate include

The event estimate should include several major categories of costs:

Location:

  • Premises for rent, additional location areas or territories

  • Place maintenance (cleaning, security)

  • Early arrivals/late departures, etc.

Equipment and technical support:

  • Audio and video equipment

  • Lighting

  • Stage, scenery

Food and beverages:

  • Coffee breaks

  • Lunches

  • Drinks

Personnel:

  • Presenters

  • Technical staff, security

  • Honoraria of speakers

  • Volunteers, hostesses

Marketing and advertising:

  • Advertising on the Internet and media

  • Advertising materials (posters)

  • Handouts and souvenirs

Administrative expenses:

  • Salaries of employees

  • Taxes

  • Insurance, etc.

Additional costs:

  • Transportation

  • Courier services

estimate

How to calculate the cost of tickets for participants

To be successful, every organizer must sell tickets to cover their costs of preparing and holding an event, or attract sponsors.

To do this, you should calculate the total costs and divide them by the projected number of participants, so you will have an average ticket price below which you simply cannot sell them. Otherwise, you will not only earn nothing, but also end up in debt.

From the average price, you can make some tickets cheaper - for a certain economy segment, and some more expensive, for VIP guests. Don't forget to add a sales commission (if any) to the ticket price, as well as a reserve in case the number of participants is lower than expected. Don't forget that you will give away some tickets for free to speakers, press representatives, sponsors, raffles, etc.

Event estimate and business event checklist

To make it easier for you to understand what an event estimate is and how to create one, you can use our example and edit it to suit your needs.

You can also go to the interactive checklist of the business event and mark what has already been done, what needs to be done at the preparation stage, at the event itself, or after it so that you don't forget anything.

Download the estimate Go to checklist

Planning the event in advance and drawing up a detailed budget will help organize a successful event and ensure financial stability.

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