While people typically look at event planning from a logistical standpoint, there is also a revenue angle to events that, when leveraged properly, can create a significant income stream for businesses as well monej planners. In fact, entire corporations are built around the concept of producing and selling space at large events. The most attractive makr of making money on events —besides profit potential—is that almost anyone can do it. The cost of hosting small- and medium-sized functions is minor compared to opening a retail business, and you can experiment with a wide range of concepts. Going outside your comfort zone can often jump-start creativity, opening up more opportunities for a short-term, profitable venture. The best authors and celebrities can fill a room just on name alone, creating a revenue opportunity for event promoters who can match the right speaker with a hungry audience. An additional benefit is you don’t need much more than a stage, chairs, and concessions. This keeps frstival time to a minimum.
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Being profitable goes beyond booking the right bands, picking the right location, and driving a successful marketing campaign. It all comes down to revenue and expenses: Your biggest revenue boost comes from ticket sales, and the best way to reduce your expenses is through sponsorship. If your conversion rate the percentage of visitors who buy tickets is low, you may need a more streamlined ticketing process. It works. There are also some sure-fire pricing tactics that will help you make more money. Early sales are a great tool. A discount like that should be small enough to not compromise revenue — and appealing enough to early bird buyers to give you a nice boost in sales. On the other end of the ticketing spectrum, premium packages like VIP passes are an easy way to bump up revenue without pricing out lower-spending attendees. That could mean anything from exclusive areas to drink discounts to backstage passes to free merch. Now that you know these revenue-boosting tricks, how do you go about reducing your expenses? More than a third of event organizers surveyed by Eventbrite said they struggled to stand out to sponsors.
How to make money for the tickets?
There are more and more undercover police at festivals these days looking to take down poor little Johnny trying to make a few bucks to help pay for his ticket and help his friends have a good time. Also, there is sometimes some terrible drugs at festivals or people selling fake drugs, which you could get the blame for. How about protein powder in capsules as Molly? Similar to number 10, this could be profitable but has huge downfalls, especially if you run into someone who actually knows what they are talking about and calls you on your dumb shit. Your reputation will be down the drain and all credibility for years to come is demolished. Sometimes, they do come up with some cool shit but most times, this person is just a mega creeper so beware of your girl if she took a few too many caps and is feeling artsy. No overhead, other than your time and if you do it legitimately, you might have to pay a vendors fee but overall a very low cost, high profit option. You have thousands of ravers at your disposal who have danced their poor leg muscles nearly to death and need to get as much healing done as possible before someone starts playing house music back at the main stage. At the first, everybody thinks they are stocked up for a month but by the end of day 2 or 3, it starts to become more valuable than gold. The only problem with this option other than how illegal it is , is that alcohol is so big for the price, to supply a portion of the party, you would need an 18 wheeler truck filled. People come to these festivals expecting to blow hundreds or even thousands of dollars on consumables like food and drugs so anything they can possibly bring home they will jump on it. If you can get this done enough on day 1 however, it could be a decent gig. It will also give you enough time to check out some killer sets and lay down some sick dance moves after dark. Either way, it is a good time to spread your music to the masses. I think it has the best of both worlds. You can still enjoy all the different areas of a festival without being stuck in a booth or specific area the whole time and you can still express your innermost artist for the world to see. It also makes you seem like your pretty important. This article was originally written on June 13, and has since been migrated from my original website to this medium platform. Check out my other projects at www. Sign in. Get started. Stanley Arthur Follow. Festival Addict Follow. Write the first response. Discover Medium. Make Medium yours.
There are so many ways to go about this, and creating the right strategy for your event can be a really creative and challenging exercise. Here are some great ideas to get you started. Ticket Sales. This one seems pretty obvious but there are multiple ways to go about structuring ticket sales. Picking the right one for your festival brand and ‘voice’ can have a big impact. Charge companies to promote their goods and services at your event. Just like with ticket sales, you can offer tiered sponsorship levels and charge more for added sponsor perks and exposure. If you have food and drink vendors at your festival, charge a concession fee. It works just like paying rent! The vendors pay you either a set amount or a percentage of sales in exchange for the exposure and guaranteed customers they get for having a stall at your event. Now this is where it gets fun! Sell souvenirs and merchandise relevant to your brand and the event. Pens, mugs, beer glasses, shirts, bags, headphones — there are so many fun options available! Host raffles throughout your event and sell tickets. This is a great way to boost sales and reinforces a charitable giving branding. Not sure where to find prizes? Sponsors are often willing to donate prizes as added exposure. Include it as a sponsorship option. Additional Activities. Hosting additional activities? Special speakers, VIP areas, and exclusive or limited activities are a great way to generate additional income. Be sure these events have true added value. To boost awareness, offer these added value experiences as optional and limited with pre-sale tickets. Then, open more tickets on the day of your event. We hope these ideas on how to generate income from your festival have been helpful. Not every method will work for every festival so be sure to pick the options that work best for you and your audience.
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Are you one of the 32 million Americans that will go to a music festival this year? They generally ldeas people free or discounted tickets in exchange for a fesfival hours of volunteer work. The festival can always charge you for a ticket if they find out you have been skipping your work. They work with many of top festivals in the U.
Please keep in mind that this is just a sample. There are many other music festivals that do offer free tickets, discounts and other perks in exchange for volunteer work.
Like most companies and organizations, they may give away free tickets and discounts to their followers from time to time. Most of them also have email newsletters that maje can sign up for free. These emails will keep you up to date on. But the best monwy is that you get access to exclusive deals and discounts. Join Opinion Outpost It is free 2. Choose the festival that is right for you Wanna save money on tickets? Check out this list of best upcoming music festivals from Fuse TV.
Keep in mind some smaller shows may have better line-ups and can be far cheaper than big events like Coachella or Bonnaroo. Be weary. List-making can prevent you from having to buy something at the festival which WILL always be more expensive.
Having a budget will make sure you always have enough cash. Did you know the average festival goer travels miles to attend? Find a full list of ways to save money on monet. Rather than staying in a hotel you can be part of the action of the festival and generally within walking distance of the shows.
Dance parties, impromptu shows, or exciting get-togethers will be missed if you are staying away from the festival. If you do decide to stay at the campgrounds offered you will need some things tents, lamps. Rather than trying to clean your clothes for the weekend use aerosol air-fresheners to stay smelling fresh. Dollar stores are great places to shop for personal toiletries and other travel necessities.
Things like sunscreen, bug spray, and deodorant can generally be found on sale or at dollar stores. Small containers of medicine Tylenol, ibuprofen and hand sanitizer that can be carried around with you can also be found at dollar stores. Generally festivals take place at parks or in fields and it can get quite dirty and hopefully not muddy. Hit up your local thrift store like Goodwill or Salvation Army for some cheap threads to wear. Buying programs, clothing, and CDs can add up quick.
Also, if you want a limited item program, limited clothing add it to your budget to begin with and dieas it as soon as you can so you know you have one. Thankfully there are a few easy ways to save money on food. Bringing in non-perishable foods is much cheaper and it also assures that you are eating what you want to eat. If you do want to fesstival alcohol while at the festival, check and make sure you can bring your. They are huge money-makers for the organizers.
If you love attending music festivals, follow our tips above so you can save enough to attend destival one every year. Fextival you shop Costco without a membership? Yes, you can! And we’re too to show festivall. Most people ro that shopping at Costco is a good Online, there are tons of rewards sites that you can use to earn extra cash. And, one of the most Creating and selling handmade noney is a great way to earn money working from home.
Stray Rescue of St. If so, how much do plan to spend to see your favorite bands? Table of Contents. Join InboxDollars for free. InboxDollars pays you to watch videos, search, shop, take surveys, and. Want More Money? Join Opinion Outpost. It is a fun panel with a lot of interesting surveys. And it rewards you well! Join Opinion Outpost It is ideaz. More Money Hacks Can you shop Costco without a membership? Pages About Contact Contribute.
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HOW TO SAVE MONEY AND AFFORD GOING TO MUSIC FESTIVALS!!!
In these belt-tightened times, savvy event organizers are looking for new ways to up their revenue. Selling tickets to your event is only the beginning. Here are five proven ways to bring in additional income from your event:. Sponsorship deals are also the most mis-executed. If you expect that a banner placed in a venue will be seen by forty thousand people, then say. If you will be sending an email invitation with a sponsor logo to ten thousand people, then let them know. For help putting together a winning sponsorship pitch, check out this free sample prospectus. Business events bring people together who have at least some expectation of doing business with each. Use surveys to collect ideas to make money at a festival information from your attendees when they register. Because so much of your event promotion happens online, events can generate considerable online traffic. But, you can also easily ideas to make money at a festival your event website into a source of revenue with a few well-placed and thoughtfully-chosen ads. Work with companies that have relevant products or services to offer, and are likely to be of interest to those attending. While this may boost overall attendance, it generally does not create incremental event revenue — which is the goal. An obvious example is the event ticket that also includes admission to the after-party. While bundling food and booze may drive sales of these premium tickets, you have to be careful of the costs incurred by providing these extras, as they can rapidly erode or even completely eliminate your profit. Include additional 1-on-1 time, and a more exhaustive program than was presented during the general event. You can also work with sponsors to offer special event attendee experiences like a tour of their facilities. Most event sponsors would be delighted to welcome a limited number of VIP attendees and provide refreshments in exchange for the opportunity to engage with them on their own turf. As the bloated bags of swag after many events can attest, people like to come home from events with stuff. For the most part, these giveaway items wind up in the trash a few days later along with the promotional hopes of the swag sponsors. A better way to capitalize on this desire is to sell merchandise before and during the event. This approach works especially well if your event supports a business that already sells things.