Parties are a great way to show appreciation to your employees and thank them for all of their hard work. However, many small business owners balk at the cost of holding a party that’s more than just serving some food and drinks on a conference table. Are you holding back on throwing a party for your employees because of the cost? If so, this is the perfect article for you.
Business parties don’t have to be expensive. In fact, there are many ways you can throw a great party without spending a lot on it. That said, here are some tips on how to throw a business party without breaking the bank:
1. Shop around for a rental company
Unless you have all the equipment you need to throw a party for all of your employees, you would need to find a party rental company that offers all the party essentials you need for a reasonable price. Don’t just go with the first company you see or get a quote from. Shop around for the best deal to ensure that you get the most out of your money.
Furthermore, find a rental company that is at a reasonable distance from your party venue to save on transportation costs, especially if you are having the equipment delivered. The same goes if you are transporting the items yourself since you would also need to consider the expenses for gas (and labor if you’re paying someone to help you load and unload the equipment).
2. Pick a venue with an open catering policy
An open catering policy means that the venue will allow you to choose your own caterer, therefore giving you the freedom to select the catering company that best fits your budget. Moreover, you can pick the amount and type of food you’re going to be serving at the party, which allows for optimum budget flexibility compared to working with the caterer from the venue’s list.
3. Go with a buffet or family-style catering
Food is one of the biggest expenses when it comes to business events. That said, choose a buffet or family-style service instead of a sit-down menu. These types of service are inherently cheaper, allow guests to choose their own food, and require minimal service staff (which further cuts down your expenses).
4. Use your own premises
Another large expense of business parties is the venue. If you have a small business with less than fifty employees, holding the party on your own business premises is an excellent way to save money. However, this depends on the flexibility of your building or facility. For instance, if you have a large pantry that can be converted into a party space, that can be a great option. But if your company only has an office, using it as a party venue may not be feasible.
5. Find a vendor that can provide multiple services
As much as possible, find a vendor or company that can provide multiple services as a package. For example, choose a vendor that can take care of the catering, decor, and hosting at once instead of having multiple vendors for each element. Aside from being cheaper, hiring a vendor for multiple aspects of the party makes organization easier since you only have one contact person to deal with.
6. Skip the giveaways
Giveaways are nice to have, but are they essential to throw an awesome party for your guests? Having great food and offering free drinks alone can make a party memorable. That said, giving away free pens or mugs may be an unnecessary expense that won’t mean much for your party’s success.
7. Buy your own alcohol
If you’re serving alcohol at your company party, choose a venue that will allow you to provide your own alcohol, preferably one that doesn’t have a corkage fee. It also helps to find a caterer that can also supply the open bar (or a limited bar) to save money even further. You may even want to consider encouraging guests to bring their own alcohol, especially if the party will have fewer than fifty people.
8. Obtain an accurate headcount
The good news for small businesses is that getting an accurate headcount is easier. Have employees send their RSVP as early as possible so that you know how much to spend on food, drinks, the venue, etc.
Throwing an inexpensive company party may seem like a daunting task, but it’s definitely doable–as long as you know what to do. Use these strategies to save money on your next business party and show your employees how much you appreciate their work without draining your budget.