Financially Underwriting your Events
Don’t Quit Your Day Job.
Many people take the leap of faith to jump start their new business ventures. This is great but you have to still support your livelihood such as Rent/Mortage, Utilities, Car Notes etc as well as you need money to sustain your new business. Use your Day Job to Support your Night Job. So think before you leap.
Investors.
Being a Club Promoter doesn’t mean you have to invest your own money. Many Companies or Individuals look for opportunities to get involved in events on a financial side but can’t produce an Event. Having an Investor is a great way to go just be sure that the ROI (Return on Investment) is clearly defined.
Most New Promoters think $10,000 is a lot of money to produce an event.
Here is a sample of Event Expenses before you open your doors to Guests.
Budget: $10,000
Venue Rental $ 3,000
Venue Security $1,500
DJ’s (2) $800
Host $150
Flyer Print & Design $300
Radio Ads 2500
Radio Spot Production $ 250
Email Blasts, Text Promo Company $100
Door Cashiers (2) @ $100 each
Street Team $300
Total Expenses : $9100.00
And don’t forget to budget for Insurance, Permits, Decor, etc
You Win some, You Lose Some.
Not every party will you break even or make a profit. Sometimes you will do events for the “Look”, Meaning, you may book a Celebrity Or Let People in Free just to keep your parties interesting. No matter how great of a Club Promoter or Venue Owner is everyone loses at one point. You just have to regroup and get back on that horse and don’t make the same mistakes.
“The Art of The Party” by Christina Clark offers weekly tips about effectively Planning and Marketing Nightlife Events. Contact Christina Clark at GetYourPartyInfo@Gmail.com and follow @ChristinaClark1 on Twitter
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