Boost Seminar Profitability by Adjusting Room Rental Costs

When advertising events -- particularly in the present economy -- it's important to pay close attention to the expenses of creating your seminar. 1 expense that can quickly consume up a sizable chunk of your seminar production spending budget is the price of renting meeting space. Based on exactly where you host your event, you might pay a few hundred to a couple of thousand dollars per day for meeting space.

Right here are 3 ways you can decrease this budget line item:

1. Guarantee sleeping rooms. If you are holding a multi-day event at a hotel, and attendees are most likely to spend 1 or more nights, you might want to safe a block of hotel rooms for your participants. In exchange for guaranteeing the sale of a particular quantity of sleeping rooms, the hotel might give you the meeting space for a reduced charge or even for totally free.

The downside, of course, is that if you do not fill the room block, you will be responsible for paying for the unused rooms, which may cost much more than the meeting space at complete price. However, if you are confident that you will generate sufficient registrations to fill the room block, this can be an simple way to reduce your meeting space rental costs.

2. For inexpensive meeting space, think about libraries, churches, and private rooms at restaurants. Also contact local colleges, universities and technical schools in your area. Numerous have professional meeting space accessible for rent that is developed with the corporate market in thoughts.

Clearly, you'll want to match your place to your audience and your event. For instance, business executives won't want to spend a thousand-dollar registration fee to sit in a library meeting room for 3 days.

3. Seek a sponsor. Look for a company or professional who markets to the exact same audience that you're following. Ask them to choose up the meeting space rental charge in exchange for being promoted as your seminar's official sponsor... and then publicize their involvement as a lot as you can.

When you are evaluating meeting spaces, don't overlook the various extra expenses that will be incurred by choosing 1 facility more than an additional. For example:

- Do you have to invest a minimum quantity on food and beverages? This is typical at a hotel or resort. Nevertheless, food and beverage service may not be provided when holding your meeting at a college. Make sure that you can provide the environment you envision for your attendees, and then be sure to calculate how much it will price to provide it. - Do you require to rent audio-visual gear, or is it integrated with the room rental cost? - Do you require to pay extra to rent furniture or equipment to ensure the type of room set up you want? For instance, do you require a stage? Do you want a backdrop or unique lighting for the front of the room? Do you envision a certain color of linens on the tables?

All of these particulars have the possible of costing additional, so be sure to discuss the details upfront when evaluating potential places for your seminar.

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