Budgeting an Event: List Expenses and Revenues by Stage
In order to budget an event, identify the expenses and methods of generating revenue, and make a list of them. Some examples of expenses are the rent fee, decoration, music band, etc.
How much will it cost to organize the event and how much revenue can the event generate, at the end?
Determine the expenses and revenues of an event separately for each one of the three stages:
Expenses and revenues before the event Expenses and revenues on the day of the event Expenses and revenues after the event
Create a table like Table 1 and have separate columns for both expenses and revenues.
Revenues include financial sponsorship, booth leasing, advertisement in the event, selling tickets, etc. Expenses include the venue rent, the expenses for entertainments, music, vocalist, decoration and so on so forth.
Such a table is a general estimate of the project’s economic feasibility.