Where is the Money Going? – Budget FAQs
You are planning a party, woohoo! You have the ideas, you know who you want to invite, you’ve picked the theme and you are ready to go. But hold on just a sec, before you go running off to party city let's try and answer the basics when it comes to your budget!
(Maybe if it's in the shape of the heart it wont feel so bad leaving your pocket! Photo from HuffPo)
Why is my price per head different than the final bill?
When a venue gives you a price per head it usually includes the food and beverage you have planned as well as the use of the space. **Important note here! Make sure to ask (either your venue or your planner, what that price includes. Find out if rental and furniture are already baked in to limit the last minute add ons ** The price per head usually does not include is sales tax, services or gratuities. So here is some simple math to see whatthe actual per person cost will end up as:
Cost x 1.3 = actual ….see easy! I use 1.30 or 30% as a general rule as that will most often cover all of your tax and gratuities and service charges.
$100 per head x 1.3 = $130 is what you will actually wind up paying per person. This will have a big impact on your budget especially if you forget about it. If you want to sound like you’re “in the bizz” ask your sales rep what the cost is “plus plus”
Do I really need to spend that much on food?
Yes, yes you do. (sorry! its just a fact) But don’t be afraid to try to negotiate. If they won’t take the price down maybe they can throw something extra in !
Well, yes..sort of! If you want the big beautiful centerpieces and bouquets, yes, flowers will be a significant part of your budget (and if you want the best I recommend http://www.StarbrightNYC.com)
But if you want a different look and feel there are plenty of more personalized solutions to achieve some pretty great looks for a bit less of a hit to the wallet.
Here are some examples!
What is a “good” price?
Well that depends on a few factors. Where are you having your party? How many people? What do you want it to be? Sadly there is no magic formula for this one. Plus I have a rule about only one math equation per blog post :). Ultimately a "good" price is one that will deliver on what you need without putting you way over budget?
It can be a confusing place out there, in event budget world. But there is a very easy way to avoid all of that! Hiring a planner is super important when you want to be able to enjoy the wonderful parties you are throwing. More on why a coordinator matters in our next post!