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A few tips for folks thinking about planning their first larger event (> 500 people or so):
1. Avoid "warm shell" venues. Piers, industrial venues. They are cool, but the build-out cost is insane.
2. Events professionals all go over budget. Almost 100%.
1. Avoid "warm shell" venues. Piers, industrial venues. They are cool, but the build-out cost is insane.
2. Events professionals all go over budget. Almost 100%.
3. Food + Beverage gets insane. Will cost $1.5m+ for 2020 Annual. More importantly, the cost per person will more than double as you move to large venues.
4. Bribes and kickbacks. They are everywhere. Your events "professional" will likely be getting kickbacks from ...
4. Bribes and kickbacks. They are everywhere. Your events "professional" will likely be getting kickbacks from ...
hotels, from A/V vendors, from lots of vendors. Even if he/she is a full-time employee of yours. Bribes and kickbacks are so common they are laughed about.
5. Crazy vendor choices. Since are so many kickbacks and+inside relationships, you will get >odd< vendor recs. Be wary
5. Crazy vendor choices. Since are so many kickbacks and+inside relationships, you will get >odd< vendor recs. Be wary
6. Everyone claims they drive costs down. Just like every sales rep claims they are in President's Circle, and every VC fund is top quartile. If you see this, assume they actually have no idea how to do it.
7. Once a venue becomes "sole sourced" for a vendor, the cost for that function goes up 200%-300%. So ask if they have a captive vendor. Then double that line item.
8. Events professionals LOVE A/V. Every A/V quote will be in the $1.5m-$2m range. All of them. You do not
8. Events professionals LOVE A/V. Every A/V quote will be in the $1.5m-$2m range. All of them. You do not
need to pay any of these quotes. The world will not end if your entire venue is not state-of-the-art curved 5k walls. But >EVERY< event pro and agency will tell you you need this and only quote you this.
You will only get a lower quote if you really, really push.
You will only get a lower quote if you really, really push.
9. Compare notes!! Folks, find someone else who has done an event in that venue. Like us. AND SHARE YOUR BUDGETS.
No one does this. Then you really are flying blind.
No one does this. Then you really are flying blind.
10. Finally, if you grow YoY, every vendor will try to increase pricing on you much > your YoY growth. This may be fair sometimes, but other times, it will just be a rip-off if it is for the same, fixed (non-variable) products.
So every 1-3 years you'll have to swap vendors
So every 1-3 years you'll have to swap vendors
Cost to produce SaaStr Europa 2019: $832,413:
Cost to produce SaaStr Annual 2019: $6,878,616
These are only the direct costs, excluding payroll, etc. but including all vendors, venues, F+B, etc
Cost to produce SaaStr Annual 2019: $6,878,616
These are only the direct costs, excluding payroll, etc. but including all vendors, venues, F+B, etc
So in the end, unless you are willing to build a real team, consider (1) staying smaller, (2) sticking to a 1-day event if you can, and (3) leverage hotels. They aren't always cool, but they are built for this stuff.
