Increase Seminar Profitability by Adjusting Room Rental Costs

When advertising events -- especially in the present economy -- it's important to pay close interest to the expenses of producing your seminar. One expense that can rapidly eat up a sizable chunk of your seminar production spending budget is the price of renting meeting space. Based on exactly where you host your event, you may pay a couple of hundred to a couple of thousand dollars per day for meeting space.

Right here are 3 ways you can decrease this budget line item:

1. Guarantee sleeping rooms. If you are holding a multi-day event at a hotel, and attendees are most likely to spend one or much more nights, you might want to safe a block of hotel rooms for your participants. In exchange for guaranteeing the sale of a certain number of sleeping rooms, the hotel may give you the meeting space for a reduced fee or even for free.

The downside, of course, is that if you do not fill the room block, you will be accountable for paying for the unused rooms, which may price more than the meeting space at complete price. However, if you are confident that you will generate enough registrations to fill the room block, this can be an simple way to reduce your meeting space rental expenses.

2. For affordable meeting space, consider libraries, churches, and private rooms at restaurants. Also contact nearby colleges, universities and technical schools in your area. Many have professional meeting space available for rent that is developed with the corporate market in mind.

Obviously, you'll want to match your location to your audience and your event. For instance, business executives won't want to pay a thousand-dollar registration charge to sit in a library meeting room for three days.

3. Seek a sponsor. Look for a company or professional who markets to the same audience that you're after. Ask them to pick up the meeting space rental fee in exchange for becoming promoted as your seminar's official sponsor... and then publicize their involvement as much as you can.

When you are evaluating meeting spaces, don't overlook the various extra costs that will be incurred by selecting one facility more than an additional. For instance:

- Do you have to spend a minimum amount on food and beverages? This is common at a hotel or resort. Nevertheless, food and beverage service might not be provided when holding your meeting at a college. Ensure that you can provide the atmosphere you envision for your attendees, and then be sure to calculate how much it will price to provide it. - Do you need to rent audio-visual gear, or is it included with the room rental price? - Do you require to spend additional to rent furniture or equipment to ensure the type of room set up you want? For instance, do you need a stage? Do you want a backdrop or special lighting for the front of the room? Do you envision a particular colour of linens on the tables?

All of these particulars have the potential of costing additional, so be sure to discuss the particulars upfront when evaluating potential places for your seminar.

This is exactly how Singapore seminar room rental could be utilized for your benefit.