Planning a Trade Show Budget

You spend months preparing for the smallest details of a trade show — from the color of the trim around the tablet kiosk to the kerning on the text of your graphics — but one element always seems to sneak up and bite exhibitors on the rear: hidden costs.

Since the last thing you want to do is add a few unexpected zeroes to your budget, planning a trade show budget in detail is one of the most important yet oft-overlooked tasks during trade show planning. Many exhibitors leave giant holes in their budget sheet, assume they will be filled in later, and then become shocked at how quickly costs added up.

To avoid having this happen to you, make sure you consider the following aspects when preparing your trade show budget:

Develop a Firm Budget Far in Advance, But Include Some Wiggle Room

One of the reasons budgets tend to balloon unexpectedly lies in saying “yes” to last minute add-ons. While these cool ideas are tempting, constant changes make your final tab far less predictable.

Instead, lock in an approved budget ahead of time that includes some extra cash in case add-ons or changes do occur. With this added budgetary wiggle room, you still have the freedom to say “yes” to certain things, but you understand that you only have a limited amount of additional funds to commit with.

Having this budget completed in advance also locks in your superior’s commitment. The last thing you want to do is have a line-item rejected because your boss was not aware of the full costs, sending you scrambling to determine a replacement.

Start Planning Months in Advance

The most impressive trade show exhibitors you see splashing magazine spreads or dominating expo conversations accomplish what they can because of months of planning. The more factors are known in advance, the less disruptive last-minute changes can be.

Even more importantly, locking things down early can save your company money. Many conventions and vendors provide “early bird” discounts as well as “last-minute bird” penalties. If you have your booth ready, hotel and flight booked, and most of your vendor costs known three to six months in advance, you can spend the rest of the time perfecting your execution and making sure every detail is in place.

Study Your Exhibitor Kit and Exhibition Costs Intently

One of the biggest shockers when it comes to unanticipated expo costs are all the fees you could face when setting up and taking down your booth. Convention halls — especially ones contracting through union labor — tend to have very strict rules about what you can and cannot do, and they also tend to place a dollar value on the most seemingly minor aspects.

Some costs to watch out for include:

• Material transport, electricity and A/V hookup may charge you a fee for not using the facility’s designated labor team
• Fines and penalties for not properly running cables and cords
• “Forced freight” charges for being on the convention floor too long after the show ends, forcing the crews to move your stuff and charging you for their trouble
• Cleaning fees and fines for improper cleaning
• Labor overlaps, which can mean a crew standing around and charging you by the minute while they wait for another crew to finish up; Make a set-up schedule and stick to it!

Other hidden costs can come from shipping, so know the exact measurements and weight of your equipment, and be extremely careful if you are on the cusp of a new shipping fee bracket.

Getting Help With Planning a Trade Show Budget From an Experienced Logistics and Exhibition Company

You can make planning your budget for your next trade show easier by working with a logistics company. They can help you anticipate costs and bundle some of your services into a convenient and predictable package.

Find out more about how a trade show logistics company like Xibit Solutions can help you by telling us your needs in the contact form below.