Planning A Corporate Convention? 4 Ways You Can Cut Costs
Company conventions are insanely expensive. Costs for the convention itself can run approximately $150,000 and that's not including accommodations or travel expenses for your employees. Considering that the average national rate for a hotel room is $137, you could end up spending even more on travel and lodging if you have a lot of employees. The cost for a convention can quickly escalate until it's more than you can reasonably cover. Fortunately, there are a few ways you can save money when hosting your next convention. Following are four ways you can cut costs.
Reuse Set Decorations
When it's time to design your set, steer away from plastering your theme on a large number of pieces. Instead, design a versatile, generic set that features your company logo, colors, mission statement, etc. If you do this, you can reuse the same set convention after convention. All you will have to do is purchase a few small pieces, such as a banner or two, to identify your message and identify the convention year.
Schedule Vendors Early
Vendors may be willing to cut you a break on fees if you schedule them early enough. Start scheduling vendors and other essential players several months before the convention. By doing so, you can negotiate and lock in a lower price that you would if you tried to schedule everything last minute. Scheduling early also gives vendors time to shop for deals on supplies and so forth. So it's a win-win for everyone.
Offer Group Travel
If everyone gets to the convention by their own means, you could spend a fortune reimbursing employees for plane tickets, taxi fare, and car rentals. However, you can cut costs dramatically if you offer a group travel option, such as a shuttle or charter bus (available from companies like Rochester Shuttle Express). You can fit more than 50 people on charter, and the cost per person is significantly lower than it would be for air fare.
Get a Sponsor
Think about getting a sponsor or several sponsors to cover some of the cost for you. A few effective advertisements is all that stands between you and a check from your sponsors.
As you can see, there are several ways you can cut costs on your corporate convention. Remember to plan early, reuse what you can, travel together, and look for ways to generate extra revenue. If you plan carefully, you will save more money than you ever though possible.