Jack Frost is nipping at noses and the holiday lights have begun to pop up all over the city. It can only mean one thing… the holiday season is upon us!
While we love this time of year as much as anyone, we’re also very aware of how expensive it can quickly become. If you want to throw an amazing year-end bash without completely breaking the bank, these tips are for you!
1. Avoid Booking Last Minute
As soon as November hits, venues and catering services quickly start getting booked up with year-end parties.
The end of November and the month of December are incredibly popular for company’s looking to host holiday events. If you’re looking to be one of them, make sure that you’re booking well in advance – at least a month, if not two.
If you wait, you’ll end up paying a premium for last-minute bookings and services.
Pre-booking prevents a wallop to your wallet by ensuring you’re paying for what you really want – not just what’s available.
It also gives you more flexibility when it comes to venue cancellation policies. If you book last minute, you often waive the right to cancel without losing your deposit or incurring a penalty fee. And trust us, the only thing worse than over-paying for an event is paying for one that doesn’t even happen.
2. Look for Venues that Permit Outsourcing
Many venues will only allow food and beverages that are supplied by their own caterers.
While this can be an easy option, be mindful that these internal resources often come with food and beverage minimums that need to be met before they’ll service your event. If that minimum exceeds what you need, or is more than what your budget allows for, you can end up spending out of pocket quickly.
To combat this, look for a venue with an open catering policy. This will allow you to bring in a caterer that serves the food you want within your price range.
If you’re looking to have liquor service at your event, consider a venue that allows for you to supply your own alcohol. This will be substantially cheaper than paying for in-house liquor – even more so if they don’t charge a corkage fee.
As a bonus, any bottles that don’t end up being opened can be returned to the seller for a refund. Or you can take them back to your place – we don’t judge!
3. Book During the Off Season
Higher demand for services means higher price tags. And there is no better example of this than the increased cost of venues around the holidays.
Caterers will charge a premium during peak days, times, and seasons because there is an increased demand for what they provide.
If you’re looking for a cost-effective way to throw a holiday bash, consider booking outside of peak times. For example, instead of booking in December, book for January. Or plan your event on a weekday instead of during the weekend. Afternoon time slots are also generally cheaper than evening ones.
Doing this will make finding an event space easier (as you won’t be competing with all the other year-end partiers) and will also save you money by avoiding costly premiums.
4. Be Aware of Hidden Venue Costs
Before you sign any kind of contract confirming your venue, make sure there’s nothing hiding in the fine print.
Many corporate venues require you to pay additional fees for services that may not even be on your radar. For example, there is often an additional cost associated with furniture, alcohol service, commercial ice machines, after-event clean up, garbage removal, etc. You’ll want to negotiate these if at all possible or look for the venues that have the least amount of added on costs.
Your contract may also specify that you and your guests may need to vacate the venue by a certain time. Ask your providers up front if this is the case, and what you can expect to be charged if your party runs late.
The easiest way to lose money is by not knowing all the little ways it can be lost, so always check before signing the dotted line.
Want Some Input on Your Holiday Budget? Call Us!
Amazing holiday plans or not, the end of the year can be personally and financially stressful. If you’re worried about your finances, or would like our team to look at your numbers before the New Year hits, reach out to us today. We’re ready and waiting, and always more than happy to help take that burden off your shoulders.
