How to Stretch Your Dollar to the Last Cent

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Planning Your Function on a Budget – Insider Information

You don’t need Paris Hilton’s bank balance in order to throw a successful party. It also doesn’t mean that you’ll be stuck with a dodgy alley-way function room in a dingy hotel just because you’re on a tight budget. Here are a few tips on getting it right on a shoe-string budget.
 
For functions on a budget, choose a Friday night as it is often cheaper than Saturdays, offering lower room hire and lower minimum spends (Except for the city where most office/corporate parties are held on Friday).
 
Better still, if it is possible, choose to have your party on a Thursday night or Sunday and you may be able to negotiate some even greater deals with super exclusive venues that would normally be stratospherically out of your price range. If they won’t negotiate on price, they may often throw in free room hire or a free DJ. (Check with your guests first for availability –starting a little earlier so as to finish earlier helps if people have to work the next day. The trade off may be worth it for the great venue or great deal)
 
Based on your budget, organize a very basic food package and a basic bar tab option, which will run only half the night. Do not fool yourself into believing that you can stretch a $200 bar tab and $100 food platter for 5 hours for 90 people. Be realistic; ask the venue’s function coordinator how to best distribute your budget. Perhaps plan on a bar tab for the first hour or so, maybe drinks on arrival and then guests buy their own. If you have to meet a minimum spend, invite more guests than you expect in order to ensure you are not left short on the minimum spend at the end of the night.
 
Get food just for the early arrivals.
 
Go with an iPod or CDs rather than a DJ – or ask a friend to DJ and rent or borrow the equipment if possible.
 
Scrap the cake and put the extra cash on something else like the bar – it might get you more mileage if your guests would rather drink free than have cake. 
 
If you are working with a super tight budget, choose between bar tab and food – trying to do both will just mean that you will provide insufficient quantities of both and not please anybody. Your guests may be happier if you do just one and do it well. (Be prepared for the possibility of hungry guests leaving early though or disappearing for a quick bite)
 
Get your payments and orders in on time and avoid any late payment penalties if there are any
 
Choose a venue, which is flexible and is willing to work with your budget. Better to be upfront about your budget – being coy could result in some nasty shocks and unexpected surprises down the line. Book a date that may not be your first preference (a week before or a week after) if you can secure a better deal on it. Venues will most often negotiate better rates on dates they cannot fill.

See also Negotiating with Venues, To Have Food or Not to Have Food and Managing Your Bar Tab

 

Filed Under: Food & Drink, Planning & Organization, Services & Costs, Venues

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