Here is quick breakdown of recent cost planning, we do for one of our LARGE clients! BLUE CHIP corporation is organising product launch for approx 500 guests and they asked us to provide FULL SERVICE.
Here are just few steps involved in planning and executing a large-scale product launch event in a warehouse venue. We'll cover everything from initial planning to post-event evaluation, including cost estimations and a timeline for a July 2025 launch.
Phase 1: Planning & Strategy (Now - December 2024)
1. Define Objectives (1 Week):
Clearly define the event's goals: product launch, brand awareness, networking, etc.
Identify target audience and desired outcomes.
2. Budget Development (2 Weeks):
Establish a realistic budget. Large scale events like this can easily cost £250,000 to £500,000+ depending on the level of production.
3. Venue Selection & Booking (4 Weeks):
Identify suitable warehouse venues with sufficient capacity and amenities.
Factor in location, accessibility, and parking.
Secure the venue with a deposit. Venue hire can range from £10,000 to £50,000+ depending on location and size.
4. Date Selection (1 Week):
Choose a date in July 2025, avoiding major holidays or conflicting events.
Consider midweek events for potentially lower costs.
5. Event Theme & Branding (4 Weeks):
Develop a compelling event theme aligned with the product and brand.
Create a cohesive visual identity, including logos, color schemes, and graphics.
Branding including large flags, photo walls, branded tables, cups, chairs, can cost anywhere from £10,000 - £25,000.
6. Core Team Assembly (Ongoing):
Form a dedicated event planning team.
Assign roles and responsibilities.
Phase 2: Logistics & Vendor Selection (January 2025 - March 2025)
7. Catering & Beverage (4 Weeks):
Select a catering company capable of handling 500 guests.
Develop a menu that includes welcome drinks, canapés, street food, BBQ, and buffet.
Secure a mobile licensed bar service.
Catering for 500 guests with the above mentioned food and drinks can cost £40,000 - £80,000.
8. Equipment Hire (4 Weeks):
Source tables, chairs, cutlery, crockery, glassware, and linens.
Arrange for sound and lighting equipment, projectors, and screens.
Consider staging, dance floor, and other event-specific equipment.
Equipment hire can easily cost £20,000 - £40,000.
9. Entertainment & Speakers (4 Weeks):
Book entertainment, such as live bands, DJs, or performers.
Secure keynote speakers or presenters.
Entertainment can vary wildly, but plan for £5,000 - £20,000.
10. Logistics & Transportation (4 Weeks):
Plan for guest transportation, parking, and shuttle services.
Coordinate deliveries and setup with vendors.
Develop a detailed event timeline.
11. Security & Safety (2 Weeks):
Safety plan, including emergency procedures.
Security cost can vary, but estimate £2,000 - £5,000.
Phase 3: Marketing & Promotion (April 2025 - June 2025)
12. Invitations & Registration (4 Weeks):
Design and send invitations (digital or physical).
Set up an online registration system.
Design and production of physical invitations can cost £1,000 - £3,000.
13. Marketing & Social Media (Ongoing):
Promote the event through social media, email marketing, and PR.
Create a dedicated event website or landing page.
14. Guest Communication (Ongoing):
Provide regular updates and information to registered guests.
Address any questions or concerns.
Phase 4: Event Execution & Post-Event (July 2025)
15. Venue Setup & Decoration (1-2 Days Prior):
Coordinate vendor setup and decoration.
Ensure all equipment and materials are in place.
16. Event Execution (Event Day):
Manage event flow and logistics.
Provide on-site support to guests and vendors.
17. Post-Event Evaluation (1 Week After):
Gather feedback from guests and vendors.
Analyze event success against objectives.
Prepare a post-event report.
Rough Cost Breakdown:
Venue Hire: £10,000 - £50,000+
Catering & Beverage: £40,000 - £80,000
Equipment Hire: £20,000 - £40,000
Entertainment: £5,000 - £20,000
Branding: £10,000 - £25,000
Security: £2,000 - £5,000
Invitations: £1,000 - £3,000
Contingency (10-20%): £30,000 - £100,000
Professional event management company fees, will be charged extra.
Timeline:
Now - December 2024: Planning & Strategy
January 2025 - March 2025: Logistics & Vendor Selection
April 2025 - June 2025: Marketing & Promotion
July 2025: Event Execution & Post-Event
Key Considerations:
Contingency Planning: Always allocate a contingency budget for unexpected expenses.
Professional Event Management: For large-scale events, consider hiring a professional event management company.
Permits & Licenses: Ensure all necessary permits and licenses are obtained.
Insurance: Adequate event insurance.
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