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Budgeting
When
preparing your budget it is worthwhile to segment your
direct and indirect costs into two areas. Firstly there
are direct costs such as payment for stand space, construction
and fitting out of the stand and other costs such as
special literature. Secondly there are indirect or hidden
costs such as staff time in preparing for the exhibition,
expenses and other costs incurred while working on the
exhibition and promoting it. When preparing your budget
it is worthwhile to segment your direct and indirect
costs on your budget sheet. Remember to include all
fixed costs from advertising your presence at the event
in national and local press.
An
ideal break-up would be something like:
- Space
rental-26%
- Stand
services-9% (includes electricity, onsite handling
and storage etc.)
- Stand
construction-41% (design, construction, graphics,
furniture etc.)
- Staffing
and facilities-17% (stand staffing, accommodation,
transportation, catering etc.)
- Publicity-
7% (related promotions and publicity for the event)
First
consider the type of event you will be exhibiting at.
Look at the literature sent by the stand organiser,
which will show the number of visitors and the type
of visitors. Like a sales forecast, create an exhibition
forecast of the number of sales prospects and sales
closures that you expect over the duration of the exhibition.
- Creating
a time-table
- Budget
headings
- Controlling
costs
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