Some events are not required to make a profit, but are expected to at least cover their own expenses.
Seminar and Conferences are intended to provide quality programs and information at an affordable cost to its members. Because of this, you must budget conservatively, estimating expenses high and attendance low, while focusing on keeping the event affordable for members.
Here is an example of a general guideline for a conference you can make some adjustment for your own specific event. Registration fee could be under $100 and the hotel accommodations are $80-100 or less. These fees may not apply if you are hosting a presentation for a client for work purposes. However, some extra needed stuff for your specific event may include the following:
– Communication between the planning committee members can be enhanced by utilizing an e-mail list which can be hosted at the Executive Office. Regular teleconferencing can also be utilized to enhance conference planning. Judicious use of money for planning meetings is highly encouraged. A great way to maintain communications is through software like Microsoft’s video conferencing on the computer which is free.
– Keynote speaker fees should not exceed $500 plus reasonable expenses (usually approximately $500 if airfare is required).
– Appropriate e-mails can be sent to all members of your region by the Executive Office, at your request. Plan ahead to use this service to save printing and mailing costs and to send information to members in your regions quickly. In addition, monthly HIGHLIGHTS are sent by the EO to all members, which can include a link to your region’s web page.
– Food costs should be balanced with overall enhancement of the program. Luncheons are less expensive than dinners, some meals can be “on your own”
– Conference materials can be donated by institutions (folders, notepads, etc.)
– AV equipment may be supplied by local institutions at reduced or no cost if you go after them.
That is not all there is to say on planning for the event budget. There are still other plans you should consider for hosting a successful event includes but not limited to:
— Plan your overall objectives
— Plan your marketing mix of the seminar
— Plan your invitations and approach
— Plan your target group
— Plan you target list of attendees
— Plan your date and location
— Plan your type of seminar- large or small
— Plan your speakers and topics
— Plan your venue and details
— Plan your staff time and resources
— Plan your budget
— Plan your handouts and questionnaires
— Plan your equipment
— Plan your talk and time
— Review all details over and over
— Plan your follow up
— Repeat and improve