Conference Cost Estimator: Large-Scale Event Costs You Need To Know To Budget Right
It’s a lot like trying to estimate the cost of a conference. While it can be a great feat when done right, one wrong step could cost you dearly. Knowing the costs of key elements at various price points will help you create an on-target budget aligned to your event goals. You can also use price ranges to help you make better decisions when sourcing venues or vendors and pricing event tickets.
We’ve put together a conference cost estimator! Read on for cost estimates for all the small and large costs involved in a great event.
Conference cost estimates for big-ticket event expenses
It can be difficult to price expenses for an event because fees can vary between vendors and services. It is important first to compile a list with all the deal-breaker expenses. These big-ticket items will provide everything you need to make your event a success.
Hourly rate for event space: +950 to $1250
The venue is the most expensive expense of all. The price range is also very varied. Be aware of the factors that influence the cost of your venue.
Location. This is a significant factor in the price. You’ll see higher prices in places like Chicago, San Diego and Washington DC if you search through a directory of reputable venues. You can reduce your costs by moving your event to Charlotte, Oklahoma City or Portland.
Types of venues. There is a substantial difference in the pricing for venue spaces between the Four Seasons Resort and Ramada Inn.
Size. Your budget will be affected by the number and size you need for your event rooms. More space is better.
Inclusions. You’ll pay more to rent a venue that includes catering staff and waitstaff, but you won’t have to hire outside caterers. Your venue may only include conference rooms or meeting spaces. However this will result in a lower cost, but you will need to budget for F&B.
Appendix: A conference event
Conference pricing: + $1500
You can share content with your attendees to get them excited about the event. It also allows you to promote your brand and build deeper connections throughout the conference. An event app is a great way to encourage people to sign up, especially those still on the fence. An app can also be used to promote your event.
- Get instant feedback on a session and the event experience.
- Notifications regarding last-minute changes such as speakers, times, locations and so on
- You can project your content onto a screen in real-time.
- Offer live polling and post-event surveys.
Food and beverages
Cost estimate: $125 to $200 per person per day for three meals and two snacks
F&B may not be included in your venue’s pricing, including food, snacks, or coffee. If F&B is a responsibility charge, you will need to decide how many people. You will need to decide if waffle and omelette stations are available for guests at 7:45 a.m. or if they’ll be left alone before you start morning sessions at 9:15 a.m. with coffee, pastries and pastries.
You can cut costs when you book a food truck for lunch to save money. Or schedule a two-hour dinner break so everyone can grab something before returning to the event.
Coffee, tea and water service are two areas you shouldn’t (and should not) skimp on. Depending on what type of coffee you use and the condiments you offer, expect to pay $64 per gallon.
Presenters and speakers
Cost estimate: + $4,500-8,500 for a professional speaker who has solid experience
A keynote speaker or presenter for your event may cost you between $10,000 and $25,000. A well-respected individual with extensive knowledge in a topic, such as a published author, can cost anywhere from $10,000 to $25,000. Are you looking to book a celebrity? Expect to pay $50,000-$100,000.
You can save money by choosing a keynote speaker new to the industry and looking to increase their visibility. You can also find an expert in your field within your company who is willing and able to share their knowledge and experience for the speaking gig.
The estimated cost is + $12 to $40 an hour based on position.
Think about all the people behind the scenes who help run an event. These include security guards, registration staff, greeters, waitstaff, etc. These expenses may be incurred at your event, but planning allows you to plan your budget.
The hourly rate for wait staff is $25, while greeters and assistants are $12. Security guards make $40 an hour to provide protection services.