1.32 Event Costing - Vendor cost estimates

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Vendor costs constitute the basic expenses in your financial sheets. Make sure you add the costs for entertainment, catering, sound, light, decor, printing and venue.

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1- Most of the costing work involves research. If you exploring different vendor options online, you can keep saving the ones that you find interesting to look into later. Theres a free scrapbook plugin for firefox users which is incredibly easy to use. All you have to do is highlight the stuff you want to save and add it to your scrapbook. You can search for the “mozilla scrapbook” plugin using Google.

2- When estimating the costs of the different vendors for your event, you can use a desktop alert widget to see the changes in rates of different vendors at “widgets.yahoo.com”.

3- If you are outsourcing part of your event team or vendors, you can check out the prevailing service rates on the online outsourcing website odesk.com. You can look for reputable service providers there and pick and choose the right vendors for your event.

4- When calculating costs of vendors, don’t forget to add the costs of managing vendor relations. These costs often go unnoticed and are difficult to record later, so its best you have them budgeted beforehand. One of them is to get yourself a good email response system to keep the vendors up to date with your event plans. MyAutoResponderpro.com is an option to work with.

5- If you are getting new vendors on the board, they may ask you for RFPs (requests for proposal) before sending you their detailed pricing structures. You can visit RFP-Template.com and download a FREE RFP templates tool kit that you can use as a baseline for creating those RFPs.


| Event Costing, Event Launch Guidelines

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