Hosting a social event in London is undoubtedly an exciting endeavour, and it will give you lots of opportunities to make the event memorable. However, we know that almost everything in the big city comes with a hefty price tag, which can drain your finances when hosting or even put you off.
Thankfully, there are some creative ways to minimise the cost of hosting your event, whether it’s a social meet-up, a birthday bash, or a corporate soirée.
Choose the Venue Wisely
London is known for its high cost of spaces and limited availability, so you will need to be strategic with the venue as there are lots of alternative affordable options available if you know where to look. One thing to note is that the obvious locations, such as landmarks or hotels, will come with premium price tags, so consider the unconventional venue hire London options. These are spaces such as private residences, multi-use event spaces, art galleries, and lounges. These can still give you the ambience you want without having to pay a premium price.
When you identify a couple of spaces, don’t be afraid to ask whether there are any discounts or package deals. Some venues will allow you to add some of the extra services you need, such as catering or audiovisual equipment, at a fraction of what you would have to pay for an outside service. This means that you should also prioritise such venues as they may save you a lot in the budget. However, don’t forget that you’ll need to travel there, so ensure that you also consider transportation, accessibility, parking, and amenities.
Be Strategic with the Timing
In London, timing can save you a lot. Since the city has limited spaces, the pricing usually varies with the time. This includes how close to the event it is, the day of the week, and the time of the event. And if you are strategic, you can get a great hosting space for a fraction of the regular cost.
Basically, you’ll want to avoid the peak periods. This starts with the seasons, as some venues, such as outdoor spaces, are usually in high demand during the summer. You can then narrow down to the days, where you’ll find that weekends are the most expensive. To save money, you can plan for your event to take place on a weekday. If you book a space for a Wednesday evening, you will pay significantly less than what you would have paid for a Saturday evening. A daytime period will be even cheaper.
Opt for Affordable Catering Options
Besides the venue, catering is the other costly aspect of any social event. However, there are many ways to ensure that you still serve delicious food without breaking the bank. One of them is exploring budget-friendly catering companies or catering schools as they are less expensive. You can then play around with the menu to reduce some items or change some to cheaper options. If the event is not formal, you can also opt for potluck-style meals or food trucks.
Another area where you can significantly reduce the budget is beverages. First, avoid the idea of serving premium wines and spirits, as these are quite costly. Instead, you can offer a selection of signature cocktails, beer, and wine. You can even have a policy where the guests bring their own bottle and do away with a huge chunk of the budget.
Leverage Technology
Technology has proven to be a game-changer in event planning, and you can use it to cut down on planning expenses. First, you can make your work easier by using an event planning tool or platform to organise everything in one location.
But besides that, you can take advantage of social media to handle all attendee-related aspects. This starts with the invitations, as you can avoid the cost of printing, and it will even make it easier for them to RSVP. You can also communicate with them easily and let them know if there’s any change of plans. If it’s an event where you are inviting people to attend or book, social media can also provide you with a free platform. This will significantly help reduce the budget for hosting your event.
