Times are certainly challenging at present. We at Flavour Venue Search wish good health for our clients, suppliers, their families and friends. Whilst right now is the time to be vigilant and ensure we minimise the spread of Covid-19, we look forward to a brighter future where we can enjoy socialising and group activities once more. In readiness for Christmas, 2021 and beyond, we’ve compiled a useful guide to help ensure you find the best venues when planning your private and corporate events.
How much does venue hire cost?
The answer to this question will vary based on several factors. When a venue offers space for private hire, they need to cover their staffing, lease, insurance, food and drink costs, while hoping to generate a profit too. Operational costs will be higher in cities and prime locations than in quieter areas. The venue needs to consider how much income their space generates when open to the general public, versus being dedicated to a private event. For example, a central London roof terrace which generates £30,000 per night would be unlikely to agree a lower private hire package. Dates are important too. Thursday to Saturday and key holiday dates are typically lucrative for venues, so costs may be lower outside of these dates. In summary, cost can vary from £150 for a small rural venue, to £50k+ for large prestigious venues in prime locations.
Venue Hire or Minimum Spend?
Many venues and spaces can be hired without paying hire fees. This is known as a minimum spend agreement, where the person hiring the venue agrees that a set minimum amount will be spent on food and drink at their event. Christmas parties and private dining events can often benefit from minimum spend options. If you’re confident your guests will spend the required amount per head, or if you’re allocating budget for refreshment, hire fees can often be avoided. Hire fees typically apply when the on the day spend is typically lower. For example, a conference booking will require lots of space, staff and AV equipment, but will typically serve only light refreshment.
How can I save money?
As mentioned, booking at quieter times and dates can often be cheaper. If you’re planning a corporate networking event, you may find that a Tuesday morning breakfast event will require lower spend than a Thursday night cocktail mixer at the same venue. You could also look at having Christmas parties in November, or even January. Also, if you book multiple events per year, some venues will offer savings for confirming more than one booking with them.
Can I bring my own catering?
Yes, some venues will agree to this. However, remember that venues won’t be prepared to make a loss. For example, a restaurant survives on the sale of food and drink. If they can’t sell refreshments, they will need to charge hire fees or corkage to cover their operating costs.
How do I choose the right venue?
Consider the most important factors, such as budget, number of attendees, date, location, type of event and must have facilities. Prepare an event brief, paying attention to what’s essential and where you can be flexible. Having a selection of dates to begin with will make it easier to secure the best venue. However, changing dates midway can set you back to square one. Starting your search early will often get the best results. Many companies and Event Managers secure their venues years in advance to get the best options.
Find me a venue
When you know your requirements, get in touch with Flavour Venue Search and we’ll find your perfect event venue for free. We represent thousands of high-quality event venues and can introduce you to the most suitable spaces for your private and corporate events. We can help you negotiate hire fees and minimum spend packages, using our decades of experience to get you the best deals. Whenever you’re ready, we’re ready to help.