How to Negotiate a Price With Your Networking Event Venue in 5 Easy Steps
When you organize a corporate event, whether it’s a seminar, training or any other networking-oriented event, you get to the point where you need to make deals or negotiate with the place of your choice. Usually it is not so difficult, and cooperation is usually carried out. However, sometimes it may seem that this is a hollowing out if the basic communication is expressed incorrectly.
Usually, if you are willing to pay for the installation, you expect to get everything you want, free and without unnecessary hassle. This is not always the case, because the owner also has to think a lot himself.
There is also the aspect of getting a good price and the best value for money. Sometimes managers and site owners feel inexperienced and take advantage of the opportunity to earn additional income in their portfolio. Sometimes they will sympathize with your inexperience and teach you something about how to make a good deal. Whichever category you’re in, here are 5 tips to help you get started.
Step 1. Know your budget for the event as a whole. Allow a margin of 10 to 15% over and above your budget for unforeseen expenses and possible surprises. However, the goal is to stay at or below the set amount.
Step 2. Imagine that you are in the same position as the place, and think about your goals as a whole. For example, if it is a restaurant with a banquet hall, ask yourself what types of expenses they face in general, and what are specifically related to your event; Wait for the attendants, cocktails/bartenders, snacks, etc. you want to list these things and view them before even talking in your preferred place. This is a pretty good preparation, because you can explain during the negotiations.
Step 3. Once you’ve figured it out, think about what you can bring to the table in front of the room. Is this a new market for people who will return to their establishment in the future? Do you draw attention to the place in the marketing of the event? Is this a room full of people who spend money during an event? These are great points that the venue should consider when discussing prices.
Step 4. Talking to the site manager and explaining your specific needs, ask how many other events like yours have hosted them. They can be completely new to this field. If so, you have a cookie. You can introduce them to a new industry they haven’t thought about before. In this case it is definitely an incentive on their part to give you a lot of classes in their home.
Step 5. Add the opportunity to hold future events on the site to your list of values. Tell them that if the event goes well, you will come back to do a lot more and maybe partner with them. As the owner or manager of the establishment, they are interested in having a permanent income in their institution. Of course, you should only offer this point of bargaining if you really plan to hold future events there.
Finally, understanding the value you can add to your location will make you feel much more confident when it comes to a transaction. I suggest not to use this to your advantage, but to create a situation in which you both take advantage of the crossroads.