Costing Your Event

Nothing is certain in event promotion and many factors can affect the popularity of your event. This is where thorough costing of an event and budgeting for a number of  variables is vital.

The below chart outlines factors you should consider. A similar budget in Excel would allow you to calculate profitability in a number of circumstances. The calculation for break even is: Total costs Divided by Net ticket price.

Example of costing sheet

 
Cost £

Venue

 

Artist

 

Date

 

 

 

Ticket Price

 

Ticket Price Net

 

 

 

Capacity

 

Total Gross

 

Total Net

 

 

 

Budgeted Costs

 

Artists Fee

 

Support

 

PA

 

Lights

 

Security/Box Office

 

Barrier

 

Electrician/Technician

 

Flyers

 

National Ads

 

Misc

 

Posters

 

Stagehands

 

Tickets

 

Catering

 

PRS 3% NET

 

Promoters Profit

 

Total costs

 

 

 

Breakeven (persons)

 

% Available after costs

 

80% Artist

 

20 % Promoter

 

Although occassionally agents will insist on ticket price to bring it in line with other venues on a national tour, usually a promoter will determine the price. The above costing sheet will allow you to work out your break even point at different ticket prices and you must bear in mind how big the venue is and whether your potential audience will be able to afford the ticket price.

When working with bands, an 80% / 20% split is industry standard (unless a flat fee is agreed in advance). Remember to write in a promoter’s profit as your fee for work conducted. This means that in the event of a sold-out show, you don’t just walk away with 20 %, which may not amount to very much after all overheads. Therefore, a promoter’s profit is essential to making your business sustainable and to invest in the next show and to cover any deficits.

A miscellaneous figure should always be written in- this is to buy items such as towels and should be around £100.

 

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Photo by Lauren Close