From the course: Event Planning Foundations
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Negotiating budget
- Events are big money-makers for vendors. Not only do they bring in a lot of revenue but they also offer the potential for further partnerships if all goes well and you, the client, are happy. As a result, most vendors will be open to some cost negotiation. So, let's take a look at some common areas where vendors may have some flexibility. You already know that the venue's going to take up most of your budget. Luckily, this is also where you have the most opportunity to negotiate. If you're holding your event at a hotel, then you'll likely be charged a room fee for any rooms that you're reserving. This is a flat fee that generally covers only the usage of the room and it can range from a few hundred dollars to a few thousand, depending on the property. The good news is this fee can be negotiated, and sometimes hotels will waive it altogether if you're booking other services like sleeping rooms and catering. This can be a nice savings for you, so if you think you have a case, ask if…
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