Food is an important factor whenever you are planning special events. This is why you need to set aside time to plan your event’s catering budget. According to Wedding Wire, if you choose to have an open bar reception, about 20% to 25% of your catering bill will be dedicated to alcohol. It’s important to know this information if you want your event to run smoothly. Here are some other things you need to know about planning your event’s catering budget.
Partner With an experienced caterer
This is probably the most effective tactic if you are planning an event. A caterer has a lot of experience when it comes to catering budgets, and they will know what’s needed and how to break down all the costs. People are usually tempted to go with less experienced caterers in an attempt to save money. This is not a good idea. A professional caterer would have had the opportunity to learn from their mistakes. All the lessons they learned over their long career will be valuable in helping you make the right decisions.
Design Your Catering Budget Around Your Available Resources
Start with the basics. When coming up with a catering budget for your event, you need to design everything around the resources that are available at the moment. For instance, it works better if you think about planning a cocktail reception with $10,000 to spend rather than just start listing what you think you need without considering the amount you have. You can get the overall budget from an event manager or from your own budget. Once you know what is available to spend, you can then try to make things work with that amount.
Evaluate Previous Events
Past events can provide you with a lot of valuable information. You probably remember regretting overspending on something in the past, or you can look into the records to understand the section you over or underspent on. For instance, you might have gone way over on alcohol costs. You may also want to consider new vendors who might be more affordable than the ones you worked with in the past. Understanding what you did wrong and what you did right while planning your previous event can help you avoid more errors.
These are some of the things to consider when planning special events. It’s important to take time to plan your catering budget so you don’t end up with shortages. If you need help planning catering budgets for special events, get in touch with us today.