Budgeting for your Exhibition Stand
Alastair Wilkins
Managing Director at ESG | Exhibition Stands, Brand Experiences & Commercial Interiors
Setting the correct budget for your exhibition or event is as very important. Without a suitable budget your brand can be undervalued or worse still actually eroded.
The budget needs to be flexible and as a guide for a fully bespoke solution cost are normally three times the cost of the exhibition space but this can vary considerably. Price defining factors include venue, space, location, schedules, design complexity, audience expectations and industry norms.
When it comes to budgeting for your exhibition there is lots more to think about than the obvious stand space and design & build costs. These include exhibition promotion, staff travel & accommodation, hospitality, giveaways, shipping of exhibits and literature, event sponsorship opportunities are a few.
Obviously these costs can vary wildly from event to event but with some good planning some can be limited.
The Trade Show Institute states that ‘the average exhibitor spends 21% of their budget on travel, accommodation and entertainment.’
EXHIBITOR Magazine’s 2015 Economic Outlook study
It may be obvious but booking in advance can save you money on hotel rooms and flights, try to make sure you book these as early as booking onto the event. Cities that are popular with trade shows and conferences will become extremely expensive when a major convention is taking place.
Shipping of exhibits and literature can also be reduced with timely planning. If organised early enough and you are working with an event or exhibition specialist they may well be able to look after this for you as part of the contract.
This applies to all services and early procurement can only put you in a better negotiating position, last minute orders nearly always pay a premium.
Finally speak to a few exhibition and event specialist if they are worth working with they will have a vast amount of experience if not at your event certainly the area or industry sector.
To chat to us further about your stand design call is on +44 (0)1782 213 444 or info@enviz.co.uk
