The Venue Rental Fee is NOT the Final Cost

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Listen - the venue rate looks great. Now ask more questions. 

Corporate meetings, conferences, receptions, activations, and nonprofit events all need a venue. And when you go to look at them, the fee is often one of the first things that gets your attention.

But are you taking a second to look at the actual scope? 

Honestly, a $10,000 venue can cost you more than a $20,000 venue - and I’ll tell you why and how. 

When you’re sourcing venues, the number at the bottom of the proposal may be in line with what you were hoping to spend, BUT it often doesn’t reflect the true scope of production. What the proposal may not tell you at first glance is the full production scope required to make the venue work for YOUR event. 

Now, I’m not saying venues are being sneaky. They are simply selling space under their sales and operating model. It’s your responsibility to ask the right questions. Otherwise, you’re comparing unlike scopes as though they’re the same product. 

Unless you ask and really dig deep, you won’t know from a basic comparison which venue option is actually the most cost-effective. One venue may include tables, chairs, housekeeping, security and basic event infrastructure. Another, will simply hand you the keys to a very beautiful (and very empty) room. 

And suddenly, that “great rate” has contributed to the “great inflate”…of your budget. 

So how do you uncover the real cost? 

  • Confirm what the rental actually includes. Make sure the venue lists out everything it DOES include, but also everything it DOESN'T include. Ask about tables: what type and how many? Chairs: what type, are they cushioned, what condition are they in, and how many are available for our date. How much setup time is included. What does additional access cost? How many hours are allowed for breakdown? Is onsite housekeeping included? Trash removal? Security? Power? WiFi? Loading dock access? Existing AV? Event staff?

  • Ask what MUST be purchased through the venue. AV, F&B, electrical, internet, security, rigging, labor, bartending, coat check, and other services may be exclusive to the venue or one of its required partners.. MANY venues have exclusivity clauses, and those required vendors may not align with your budget. Knowing that ahead of time, along with their pricing, can completely change how you evaluate the venue. 

  • Identify what you’ll need to bring in yourself. Does the venue provide furniture that actually works for your event, or will you need upgraded rentals? Will you need additional staffing, staging, décor, signage, power distribution, waste removal, linens, lounge furniture, or other production elements? “Included” doesn’t always mean “appropriate” for the experience you’re trying to create.

  • Understand what operational requirements could increase the cost. These are the expenses that are easy to overlook: paying extra to hold a space so you can access it earlier, required union labor, vendor restrictions, insurance requirements; security minimums; overtime; event end times, noise restrictions, required cleaning and trash removal; or requirements that all vendors carry certain licenses and and levels of insurance. 

The moral is: don’t compare venue rental rates. Compare what it will cost to PRODUCE your event in each venue. 

Now this may require a longer runway, but venue sourcing shouldn't happen in isolation from event production. The person evaluating the venue needs to understand what you’re actually trying to build inside it.

When I’m searching for venues for my clients, I produce the event visually for them before they sign on the dotted line so they know exactly what they’re getting into. I’m looking at the layout, the flow, what exists, what’s missing, what will need to be brought in, and what all of that means for the overall budget and experience.

A good deal isn’t always the lowest number. And a seemingly expensive venue isn’t necessarily the expensive option.

Don’t run from a number, uncover the full story behind it. 

Because the venue rental fee is only the beginning of the cost of producing the event.