A business event budget has to cover all your time in the venue and your own costs, not only the hire charge. Start with the hall quote, add the extras you actually need and keep estimates in a separate column. An empty price field isn't zero.
Picture sending your manager only the hire charge for approval. Coffee isn't arranged yet, materials will be printed later and the trainer is paying for their own travel. The approved figure doesn't describe the event you are preparing, and you find the gap when the invoice arrives. A short worksheet shows it before anyone approves.
A worksheet someone else can read
For each row, write the cost name, quantity, unit price and amount. Add where the price came from and a status: confirmed, estimate or awaiting quote. Fill in the status even when there is no cost, for example if you already have the materials.
Use four groups:
- Hire for the confirmed access time, including set-up.
- Venue extras, with the number of people or other basis of charge.
- Your own costs, such as the speaker's fee and printed materials.
- VAT and the amount you will actually pay according to the quotes received.
Don't enter a contingency as a supplier cost. If the person approving wants one, show it as an internal sum for the unexpected and agree who decides how it is spent.
Compare quotes for the same event
Two quotes can be compared only when they cover the same headcount and the same hours. If you need set-up before your audience arrives, put it in both. We cover the difference between hourly and daily hire in the guide to hire length.
Before you enter equipment as a cost, check what is already in the hire. The space and equipment page lists, among other things, a projector, Wi-Fi, flipcharts with markers, and tables and chairs. Describe anything not on the list separately and ask for confirmation.
Extras are charged on real need
Self-service coffee is charged per person. Write down how many people you are asking for and check what basis the quote uses. The number of participants and the number of coffee drinkers needn't match, but the difference must be clear.
If part of the programme has fewer attendees, say so before the quote. For food and other needs, ask what is possible and how it is charged. A price from some earlier event isn't data.
The amount you pay and how you book it are different
Show the person approving how much has to be paid and what the quote says about VAT. Ask your accountant how your company will book that amount. A possible tax treatment is no reason to leave part of the payable amount out of the plan.
How prices are shown is explained on the prices and VAT page. In the worksheet, record the date and version of the quote, especially if it changes when the programme does.
Common questions
Can I just look at the cost per participant?
Work it out only once you have the total budget, and write down the headcount it rests on. Lower attendance changes the cost per person even though the hire stays the same.
What if an extra has no price yet?
Mark it open and ask for a quote. Send the person approving the known total together with the list of open items. That total isn't the final budget.
Ask for a quote for your list
Send the date, time of use, headcount and the extras you want through the contact page. Enter the quote you receive in the worksheet beside your own costs. Send for approval the same version you intend to accept.
