A budget is the amount of money that is allotted for all aspects of an event. A budget is a total amount of money that the event should fall under. Usually, the budget is the highest amount a person will pay to throw an event.
The budget includes aspects such as:
- Food Items including appetizers and desserts
- Drinks including alcohol
- Floral Arrangements
- Centerpieces
- Rentals such as chairs and tables
- Valet Services
- Security
- Cost of the venue
- Decorations including balloons and backdrops
- Entertainment
- Audio/Visual Services
- Gift bags
- Service Labor
Once the budget has been established, the event planner can begin to compile options for the menu, décor, etc for the host to approve. It is a waste of time to begin an event proposal if you are unsure about the event budget. If a person says they want every person at their event to be served lobster and prawns for dinner but only have a budget of five thousand dollars for the entire event, then an adjustment needs to be made. It makes more sense for an event planner to establish the budget with the client and then choose options that fit into or close to that number.If the person is really intent on lobster but doesn’t have the budget then maybe a full bar could be exchanged for a beer and wine bar and lobster appetizers could be served instead of an entrée. The budget amount could be flexible depending on the financial situation of the client. For instance, if the event planner can provide everything the client needs but the budget is a bit over, the party might be a go if the person can afford it.It is the event planners responsibility to throw the best party for the amount of money the client has to work with. The event planner should determine which aspects of the event are the most important, maybe they want a full bar and light appetizers in order to splurge on fabulous entertainment. Or maybe they want a five course dinner and no alcohol. It is up to the client to determine what aspects of the event are the most important and what will make them feel as though the event culminated into their perfect vision. The event planner should keep a track of the budget and do everything they can to provide what the client wants, sometimes this is impossible and then what the client wants will have to be adjusted.
