Budgeting guide for event planning, including free Planit template.
You’ve come to the right place to set up your event budget with ease.
At Planit we know how important it is to budget correctly from the start.
Otherwise, you could be in danger of budget creep, having to make cuts, reducing quality or worst case scenario, taking a hit on additional spend or profit (if it’s a commercial setup)… then explaining all that to your boss!
So, our aim is to set you up for success with a free template and guide. We’ve made it easy for you by creating two budget templates - for internal or commercial events. And they are FREE! Our gift you.
What our budget template includes:
A budget template with revenue (ticket sales, sponsorship that offsets your final bill)
A budget template without revenue (meaning, your company is responsible for the full amount)
A payment schedule to track all invoices that come through to make reconciliation that much easier.
Our template has four sections
Event Production costs - Everything you might need to consider if requiring external event support, some of which we provide for free.
Event costs that are broken down into key areas:
Venue
Catering
Receptions & socials
Production costs
Marketing / brand
Extras - The nice to haves that you may consider adding into your budget.
We’ve also included at the end the budget a way to track revenue if you are a commercial event with a budget difference that tells you how far off from breaking even you are.
Our template is built to accommodate different ways people charge, giving you complete control. We’ve found in our experience that the following things help keep a budget accurate but also easy to track changes:
Days - This is really important for venue tenancies, staff time breakdown
Quantity - This allows us to increase based of the quantity needed, especially helpful with things like catering, badges, lanyards, etc.
Unit cost - Our individual costs makes it easy to update your budget by just increasing the numbers
Total - The full amount calculated from our formula
Notes - to add in any changes.
Now you have the basics, you are all set to create the perfect event budget and get started with event planning.
If you need any support or guidance through our template, don’t hesitate to get in touch.