How Much Does Hiring a Corporate Event Planning Service Cost?
Last Updated: January 10, 2022
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Corporate event planning can be a long and involved process. It requires expertise and constant attention to detail. Whether you're planning a conference, holiday party, luncheon, or golf tournament, outsourcing the job to an experienced corporate event planning company can ensure the big day goes off without a hitch.
About Corporate Event Planning Companies #
Corporate event planning companies can handle every detail of an event, from managing the guest list to securing a venue and selecting decorations. They will create a master planning timeline to detail all the work involved in the months leading up to the event.
Corporate event planning companies will also:
- Create a theme for the event
- Negotiate contracts
- Help you set a budget
- Select and purchase promotional items
- Book guest speakers
- Create marketing materials
The first step in working with a corporate event planner is to sit down with the company to explain exactly what type of event you want. Be prepared with a rough estimate of how many guests you plan to invite, how long the event should last and what kind of venue you prefer.
Corporate Event Planning Average Costs #
Many factors go into determining the rate a corporate event planner will charge, including the size and scope of the event, the event's budget and the hours of work involved. Because the price depends entirely on what kind of event you're holding, it's extremely difficult to estimate.
Corporate event planners charge for their services in one of many ways, including:
- Flat fees
- A percentage of expenses
- An hourly rate
- A percentage of expenses plus an hourly rate
Planners that charge a percentage of expenses tend to bill at 15 percent to 20 percent. The planning fee for a $10,000 event would run $1,500 to $2,000, while the fee for a $30,000 event would be $4,500 to $7,500.
That may sound like a lot of money, but consider that the company is probably spending months putting your event together. If you plan the event in-house, you'll probably spend about the same in lost employee hours - perhaps with inferior results.
Choosing a Corporate Event Planning Company #
Experience is probably the most important consideration when choosing a corporate event planning company. Research events the company has put on in the past and find out how they were received. Read testimonials from former clients.
It's also important to choose a web-savvy company that uses tools like email marketing and online guest registration to streamline the event planning process. Your attendees will expect it.
Finally, never choose a corporate event planning company on price alone. You need a planner that will work within your budget, but saving a few hundred dollars is not worth the risk of selecting an inexperienced company or one with a less-than-stellar track record.