Cutting Corners #Edition 1: Venues

February 22, 2012 § Leave a comment

For most people, planning an event is exciting (or at least, we’d like to think so). From birthdays to weddings, an event signifies celebration, joy, happiness, laughter, booze, etc. Everyone is there for a good time. Whilst enjoying a party is cheap, executing one can get pretty expensive especially if you think throwing a house party is passé. We agree, you aren’t in college anymore. There is an abundance of venues with different price point to fit your budget. We want to break it down for you, so keep these in mind when you are searching for a space!

Three kinds of venues.

1) Incredible rate, Plenty Stipulations

So you are really excited. You scored a venue with a cheap rental rate! However, do be careful because most venues that have cheap rental rates tend to compensate their cost somewhere else such as catering or impose a high bar minimum. On top of that, they might have plenty of stipulations such as using a certain furniture rental company, DJ, etc as they may be earning commission from their fellow partners. These costs add up quickly especially if the vendors have particularly high rates. Nonetheless, it is entirely up to you. Perhaps, you really do enjoy the caterer’s food or already planning to use the DJ. At the end of the day, make sure to obtain all information and stipulation from the venue before you tally up the grand total.

2) Expensive Flat Rate, Flexible Stipulations

The venue you just scoured has a pretty high rental rate. However, most spaces with higher rental rates tend to be more flexible, ie: bring in any caterers you want and an all-inclusive package. Some spaces might have different packages to fit your needs. However, will that be worth it if you are not bringing in a DJ or using their high-tech AV system?  But, if you don’t like being pigeoned hole into a certain list of vendors, this is a good option for you.

3) Reasonable Base Price, Flexible Add-Ons.

This category somewhat falls in the middle of the above. Such venue with this pricing model provides a base price but subsequently allows you to add features such as DJ tables, catering options, etc. We tend to be a fan of the latter (and it seems most people do to!) because this allows people to create their own plan. By doing so, you have the option to really sit down and figure out what you need and don’t need. Not having a DJ? Waive the DJ fees.

All in all, it is extremely vital to figure out your event type, cost, guests, etc. Is it going to be lavish or intimate? Wedding or a birthday party? Will it be a corporate or small business meet-up? When you have these questions answered, it is easier to seek a venue and customize a plan that fits your event!

We hope you find this information helpful. As always, we like to ask, what do you think of our post?

Do you agree or disagree? Add your two cents! 🙂

Cheers,

Private Event Spaces

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