Estimating the cost of your conference is a bit like walking a tightrope”a fantastic feat when done well, but one false step can cost you dearly. Understanding the cost of critical elements at different price points lets you build a budget that’s on target and aligned with your event goals. A firm grasp of price ranges also helps you balance quality and affordability, and make smarter choices when sourcing venues and vendors, and pricing your event tickets.
So, we’ve pulled together a handy conference cost estimator for you! Read on for cost estimates of all the big and small costs that add up to an amazing event.
Conference cost estimates for 10 big-ticket event expenses
Pricing your expenses for an event is tricky because fees vary from service to service and vendor to vendor. The important thing is to compile a list of deal-breaking expenses first. Everything you need to make your event successful starts with these big-ticket items.
1. The venue
Estimated cost: + $950 to $1,250 per hour for the event space
Of all the expenses for an event, the venue is one of your most important budget items. It’s also one of the most varied when it comes to the price range. Keep in mind the factors that play into the price of your venue.
Location. This plays an outsized role in the cost. When searching through a list of reputable venues, you’ll find higher prices in areas such as Chicago, San Diego, and Washington DC. Moving your event to an area such as Charlotte, Oklahoma City, or even Portland can lower your costs.
Type of venue. There’s a significant difference in venue pricing between the Four Seasons and a Ramada Inn.
Size. The number and size of event rooms you require will change your budget. More rooms and more space equals more money.
Inclusions. If the venue includes full catering and wait staff, you’ll pay more for the venue but eliminate the need to hire an outside caterer. If your venue simply includes conference rooms and meeting spaces, your cost will be lower, but you’ll need to budget for F&B.
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2. A conference event app
Estimated cost (for conference pricing): + $1,500
A custom event planning app allows you to share content with attendees to get them excited about the event, but it also lets you share your brand and forge deeper connections throughout the conference. An event app can also help encourage people to register”especially those who are on the fence. Other benefits of using an app for your event include:
- Instant feedback about a session or the overall event experience.
- Notifications about last-minute changes, such as speakers, locations, and times.
- Project your content on a screen in real-time.
- Provide post-event surveys and live polling.
3. Food and beverage
Estimated cost: + $125 to $200 per person, per day for three meals and two snacks
If your venue pricing includes meals, snacks, and coffee, you might not have separate F&B costs. But if F&B is your responsibility charge, you’ll have to determine how many people you’re feeding, and how much you are going to feed them. Your budget depends on knowing if you’ll have waffle and omelet stations ready for attendees at 7 a.m., or if you’ll let guests fend for themselves before starting morning sessions at 9 a.m. with coffee and pastries available.
If you plan an all-day event, cut costs by booking a food truck for lunch and letting guests cover their own meal, or schedule a two-hour break for dinner so everyone can grab a bite before regrouping for evening events.
One area where you can’t”and shouldn’t”skimp is coffee, tea, and water service throughout the event. Plan an average of $64 per gallon for coffee, depending on the type you serve and the condiments you provide.
4. Speakers and presenters
Estimated cost: + $4,500 to $8,500 for a professional speaker with solid experience
The price of a keynote speaker or a presenter at your event can vary. Booking a well-known individual with extensive experience in a subject, such as a renowned published author, will cost between $10,000 and $25,000. Looking to book a famous celebrity? Expect to pay between $50,000 and $100,000.
To cut costs, however, look for a keynote speaker who is just starting out and wants to boost their exposure. Or, find a subject-matter expert within your company with a lot of experience and wisdom who is willing to share their story and advice in exchange for the speaking experience.
5. Additional staff
Estimated cost: + $12 to $40 per hour based on the position
Consider all of the folks behind-the-scenes who help run the show at an event: security guards, people to handle registration intake, greeters, additional wait staff, and more. These are expenses you may or may not incur at your event, but deciding if you need them in advance lets you plan your budget.
Wait staff generally charge $25 per hour, greeters and helpers around $12, and security guards earn $40 an hour for their protective services.
6. Travel expenses and hotel accommodations
Estimated cost: +$700 per person for a three-day event (see breakdown below)
Travel expenses for additional staff, VIPs, keynote speakers, and presenters are a big part of your event budget, yet these expenses are easy to overlook and underestimate. Consider items and their average pricing:
- Airline tickets. Pricing can vary widely based on location, time of flight, airline, and season. That said, low-cost tickets can cost $200 and higher-priced tickets can take $500 or much more out of your budget.
- Hotel accommodations. Estimate between $125 and $225 per person, per night. For luxury business travel, room rates can skyrocket beyond this.
- Ride shares. $20 per ride on average. Event programs through ride sharing services such as Lyft can reduce the cost per ride.
- Meals outside of the event. Approximately $30 per person for dinner.
You might get lucky with airline tickets and hotels if everyone working or presenting at your event is local, but you should still budget for their meals and transportation to off-site events.
7. A/V equipment and staff
Estimated cost: + $1,100 to $1,400 for equipment, + $350 to $450 per day for A/V staffer
Your venue might provide A/V equipment like LCD projectors, screens, monitors, and DVD players, which will lower your equipment budget, but you still need to hire professional A/V staff to run the show.
If you need to hire an event photographer, plan on an additional $150 to $250 per hour. The average cost of a videographer is $750 to $1,000 for the event.
8. Paid advertising
Estimated cost: + $5,000
Your advertising budget depends on your marketing plan. The conference cost estimator here factors in paid search through Google Ads or hiring a third party PR agency. Facebook ads are a viable option with advertising rates based on cost-per-click (CPC) or cost-per-thousand-impressions (CPM). You might also design an event website to help maximize your registrations.
There are several little-to-no-cost options for advertising your event, including promotion on your business website, setting up a Facebook Event page, and using social media to get people excited. With that in mind, your estimated cost can fall well below the price listed above.
9. Printing branded elements (signage, banners, and programs)
Estimated cost: + $90 to $170 per item
Large vinyl banners, podium signs, programs, directional maps”all of these items increase your brand awareness, help with organization, and make your conference look and feel professional.
And don’t forget the name badges. Customized event badges range from $1.50 to $2.00 per badge, depending on finish, graphics, and vendor.
10. Rentals including tables, chairs, and linens
Estimated cost: + $2,100 a day
If your venue provides this service, it’s one less thing to include when planning your event costs. If not, it’s a cost you must incur to ensure an organized event. Use your event planning software to create seating charts and floor plans that keep everything flowing smoothly.
Conference cost estimates for extra expenses to make your event memorable
1. Gifts and SWAG
Estimated cost: + $2 to $8 per item
Conference swag bags and other fun takeaway gifts really make an impression. Include inexpensive promotional and usable items, such as branded pens, mini padfolios, tote bags, USB flash drives, fidget spinners, or custom power banks.
2. Unique experiences
Estimated cost: + $0 to $800 per experience
Provide a unique experience or two during the event that gives everyone a break from all things business. After all, breaks are essential for networking and recharging the brain during the workday.
- Rent a karaoke machine for afternoon breaks. +$250 per day
- Set up a photo booth at the event wrap-up party. +$125 to $200 per hour
- Bring in a magician or stand-up comedian to entertain during the afternoon slump. +$200 to $450 per hour
- Provide board games and cards for breaks and lunches. + $0 to $100 (if you have to purchase a few games yourself)
Estimated cost: $650 to $1,700 per event
Whether it’s background music or a string quartet playing classical pieces through the lunch hour, music elevates events.
Estimated cost: +$200 to $1,000
Balloons, flower arrangements, centerpieces, and even red carpets add visual appeal, transforming a so-so space into a vibrant gathering spot. If you prefer to leave the decor to a pro, the average cost of hiring an event decorator runs between $830 to $1,110.
5. Off-site events
Estimated cost: +$40 per person to $2,000 per event
Off-site events are great for team building and getting to know others outside the workplace. Some events can be held during conference hours or after the day’s end.
- Set up a private screening at a local movie theater. +$40 per person. Most theater chains have deals that include concessions and ticket pricing for a reasonable rate.
- Rent out a bowling alley. + $1,000 to $2,000 based on peak times.
- Set up a wine tasting event at a local vineyard or beer tasting at a craft brewery. + $15 to $25 per person.
Remember: prices on all of these items can run higher, or lower, depending on a wide range of factors. When planning your expenses for an event, though, it’s better to plan above the average than below to keep from going over budget for complete organization.
Now put this conference cost estimator for event expenses to use!
Now that you have a firm grasp on the expenses, dive into the top secrets of planning a large scale event with minimal stress. Or, discover how event planning software can help you keep your contacts, vendors, and layouts organized.
How much should you budget for a conference? ›
For in-person conferences, the cost will typically be around $15.000-$50.000 for smaller events and $100.000-$500.000 for larger ones. Small virtual conferences will be around $2.500-$10.000 and larger ones $20.000-$50.000+ for a multi-day event managed by a virtual event production company.How is an event budget calculated? ›
- Determine your event and an overall budget. ...
- Evaluate past events. ...
- Research to understand the industry. ...
- Create a high-level plan. ...
- Get buy-in from stakeholders. ...
- Map out individual line items and lock in vendors. ...
- Drilling down into line-items. ...
- Firm up your projected costs.
The retail approach to pricing your fees
Calculate your conference costs and divide the sum by the lowest projected number of delegates. This'll give you a good idea of how you should be pricing your conference fees. Or, calculate your conference costs and decide on an “ideal” price to charge delegates.
Hourly rates start as low as $40, and go as high as $250 or more. If you're working with a larger corporate event-planning firm, they will likely charge based on a percentage of your total budget. Typically, the fee will fall in the 15-20 percent range.How much does it cost to create an event? ›
The average price for a medium video conference room is around $30 per square foot; $12,000 for a 20'x20' sized room and $27,000 for a 30'x30' sized room.What does it mean to meet a budget? ›
Verb. To practice being economical (by using things sparingly or in moderation, and by avoiding waste or extravagance)How do you write a simple budget proposal? ›
- Describe your project objectives. To introduce your project budget proposal, start with an overview of your project objectives. ...
- Summarize cost elements. ...
- Break down costs. ...
- Provide a cost summary. ...
- Submit for approval.
Establishing an event budget is a crucial step during the planning phase, right after setting your goals and objectives. A budget is a detailed forecast of what will be happening financially at your event. It helps control your expenses and revenues, and measures the success of your meeting or event performance.How do you prepare a budget for event management? ›
- Set an overall budget. Start planning your event by determining how much money you have available to spend on it. ...
- Research past events. ...
- Make a list. ...
- Create a plan. ...
- Set a time frame. ...
- Create a fund for contingencies. ...
- Write a pitch for your sponsors. ...
- Approach potential sponsors.
Which is one of the most expensive of the budget categories for meetings? ›
Venue & Equipment. For most events, venue costs are going to make up the single largest expense on your budget. It's important to find a venue with ample space that adds to the experience for your guests.What are importance of budgeting? ›
A budget helps create financial stability. By tracking expenses and following a plan, a budget makes it easier to pay bills on time, build an emergency fund, and save for major expenses such as a car or home. Overall, a budget puts a person on stronger financial footing for both the day-to-day and the long term.Why are conferences so expensive? ›
Typically the fees are to cover the facilities of the meeting including services attached to the venue. In addition there may be administrative costs for the conveners to be added to that.How much does it cost to build a conference room? ›
The average price for a medium video conference room is around $30 per square foot; $12,000 for a 20'x20' sized room and $27,000 for a 30'x30' sized room.How much does it cost to create an event? ›
There is no definitive answer to this question, as it can vary depending on the specific conference and what expenses are associated with it. However, some common expense categories for conferences include travel, lodging, food and beverage, and registration fees.