Date: 25th June 2024

Posted by: Daniel Lay Team

How to Save Money on Venue Hire Without Compromising Quality

Event management is not just a managerial task but also an art. It is a combination of skills and creativity. It starts with the selection of the venue. Whether it is a conference, wedding ceremony, graduation, or prom night, the venue plays a vital role in your success.

There might be hundreds of places suitable to hold your function but not all of them would meet the essential criteria, a combination of suitability and affordability. On the other hand you would like to maintain quality regarding affordability. So, affordability would be the prime motive when choosing the appropriate venue, but not at the cost of quality. It is quite a tricky affair. Not really. Keep reading this article to know how it can be done.

Selection of an Appropriate Venue

Venue hire is the first step in planning your event. But before you hire one, you need to consider some crucial things. Let’s look at what needs your attention while choosing the right place for your function.

Type of Function or Event:

The selection of a suitable venue will largely depend on the event you will arrange. While a garden or open space would be ideal for a wedding or a dinner, it won’t be appropriate for a business conference. So, the first thing on your agenda would be to select a venue that suits the type of your function.

Location of Venue:

The location of the venue is yet another essential consideration. It varies on a case-to-case basis. If it is a family function, like a birthday or wedding, you may prefer a venue situated at a place easily accessible to most of your family members. Similarly, a business conference is more likely to be held in a conference room located in a business area. Here again, you would like to choose one that is easily reachable by the participants. Likewise, a hall in the city’s prime location would be appropriate for a prom night.

Location of Venue

Number of Expected Participants:

You need to list invitees and the probability of their participation. This is a critical step. Hiring a hall with a capacity of 500 participants would be inappropriate when you are expecting around 200 people. That’s a tricky affair. You can, however, bifurcate the invitees into two categories, the first being those who will attend and the second group would comprise those about whom you are unsure. For the second group, you may conduct an RSVP (respond if you please, translation of French répondez s’il vous plait).

RSVP is mostly suitable for weddings, birthdays, or any such family function, but might not be a good option for business meetings and conferences. However, it is very important that you have at least a rough estimate of the number of expected participants. That will help you reach a decision on the capacity of the venue you are going to hire.

Availability of Various Facilities:

Some of the basic facilities that a venue may have include lights, sound systems, Wi-Fi, and audiovisual gadgets. Heating and cooling arrangements are also important. Restroom facilities are yet another important consideration. The availability of sufficient parking space also needs your attention. Additionally, some venue owners may offer some extra facilities per your requirement. These are all very important things that must be sorted out before you select the place.

Lastly, you may also confirm whether the place has legal permission to hold such events.

Saving Money on Venue Hire

Several options might be available while looking for an affordable venue. Still, not all of them will meet your expectations, especially when you are committed not to compromise on quality. That’s the test of your skills and a bit of your imaginative and creative approach. A cheap place can be turned into a wonderful venue with a slight improvisation and a touch of creativity.

Let’s have a look at how you can save money on venue hire without compromising quality:

Be Selective on Days:

The hiring cost of a venue is often flexible. While it may cost you more on weekends, it might be relatively cheaper on weekdays. Sometimes, the difference may be somewhere between 25% to 50%. Consider a suitable day of the week to arrange your event. A business meeting or a conference would be more appropriately arranged at the start of the week, like Monday or Tuesday. On the other hand, a family function can be managed on Friday if it suits most of the participants. Selection of an appropriate day of the week can save you a considerable amount and, most importantly, without compromising quality.

Be Selective on Months:

Some events can be planned, while others may be time-bound. But you may always have a choice to select an appropriate month of the year for your events. It will take a lot of work to get a venue at a reasonable cost during December, being the busiest part of the year due to Xmas and New Year functions. But the cost of venue hire might be quite different in January. Similarly, it may cost you less in April, when it is both warm and warm. You can wait for the year when the costs are reasonably low. Selection of the appropriate month will also help save money without compromising quality.

Be Selective on Location:

It is a universal rule that prices are always higher in a big city like London’s main centers, whereas it is cheaper in the suburbs. Explore this option if it suits you. You need to do a bit of search and locate activity to find a venue in the outskirts of the big cities. There will be many options available, though not each of them suitable for your type of function. Here, you will have to be selective, considering the cost difference, the cost involved in commuting to and from that venue, and most importantly, the suitability of the place. If the equation comes out to be cost-effective, go for it but not at the cost of quality. Do consider what facilities are available there, before making a final decision.

Look for Alternate Options:

Arranging an event in conventional places, such as Halls, parks, and Hotels, is a common practice. However, many other alternate options can also be explored. Holding a function in places like pubs, warehouses, art galleries, meeting spaces, and creative spaces is also gaining popularity. These places are reasonably low-cost compared to traditional options.

Look for Alternate Options

Look for Blank Canvas Spaces:

This might be one of the best solutions when choosing a suitable venue at a comparatively low price without compromising quality. Such a space can be converted into a wonderful event venue according to your requirements. You can decorate it yourself, arrange furniture and lighting according to your choice, and manage everything to your liking while remaining within the budget.

Look for Free Venue Hire:

The option of minimum spending and the free venue hire are also available in different areas. Here the venue is cost-free and you only have to pay a minimum cost for food and drinks. Quite a good option, if available in your area.

Manage Food and Catering:

Whatever venue you select, one of the areas where you can save money is managing food and drinks. Most venues would like to serve food and drinks to our guests and invitees per a pre-decided menu and cost. This might be a good and hassle-free option, but at the same time, it costs you considerably high. If you can manage the menu and catering on your own, it will have a double impact. The quality of food and drinks will be per your liking and on the other hand, it will save you handsome money. Though a bit difficult to manage, it is the best option for saving money without compromising quality.

Final Thoughts

Hiring a venue for your most important events, such as weddings, birthdays, conferences, or graduation, is crucial. The success of your event largely depends on the right selection of an appropriate venue. It is even more important when you have a limited budget. Managing an event within a tight budget requires some consideration of various aspects, such as the location and size of the venue.

Various other steps can also be taken to cut expenses, as discussed above. The most important thing to remember is to select a suitable venue and menu while keeping in mind the other important aspect of not compromising on quality.