Meetings are important to building relationships. However, they can be expensive. Below are several tips you can use to help you have a successful meeting – but also save money.
Estimate. Get an accurate estimate of how many people you expect to attend. About a 10 percent factor just in case you get a few extras. This prevents you from overpaying.
Menus. Look at the menu options to see which food platters can be purchased at the best prices.
Quantity. Try to buy meals in quantity since this can save you money. Find out where the price breaks occur.
Options. Consider options such as breakfast or lunch buffet instead of a sit-down meal. This can reduce the price per person by 50 percent. Buffet meals also reduce waste.
Locations. It usually costs less to have a meeting at a restaurant instead of a hotel.
Music. You can save money by using recorded music instead of having a live band.
Audio Visual. It’s best to use your own equipment such as laptop computers and LCD projects. Costs of renting audio-visual equipment are normally so high that the equipment you buy will normally pay for irself after only 5 or 6 uses.
Table Decorations. Putting mirrors and candles on tables costs much less than buying traditional table settings such as flowers.
You may also want to consider asking for a cover fee to help pay for additional costs. Getting a sponsor can also reduce costs.