Budget 101




The Ballpark Budget – struggling on both sides

Posted by admin on Thu 17 of June, 2010 15:57 PDT - Permalink | Email This Post | Print

Why is it so hard to determine a budget for an exhibit? On the purchaser’s side it seems a matter of showing your cards – if you tell the exhibit house too much they will spend it all; too little and the argument begins before the first design conference is finished. On the exhibit house side – you already have great ideas, however they are your ideas and may very well not fit the budget. This I know for certain – everyone needs to be upfront or no one is happy. And the worst is to agree upon a budget, come to the table with a design that fits the budget, and then you are told that “we forgot to mention we want services included,” or the worst of all – “we love it. But we really only have half of that first budget.”

This has become the name of the game. We suggest having the exhibit house send you pictures, NOT renderings, but pictures of exhibits that have been built and taken to a show with a budget. In that way the compromising starts before the designing and everyone is on the same page. Exhibitors need to be upfront – does their $35,000 budget need to include show services such as electrical, rigging and drayage? Exhibit houses need to clearly define what is included, especially on the I&D side. When you meet the $35,000 budget and then you send a post show bill for $8,000 – well, you really did not meet the budget. Trust is really the issue here – get the exhibit house references and then check them. And once again – ask for pictures from the show floor – renderings are great – but did they get built?

Stretching your Budget – order early

Posted by admin on Thu 17 of June, 2010 15:57 PDT - Permalink | Email This Post | Print

Everything you negotiate and order early for your tradeshow will save you hundreds to thousands of dollars. All show services are offered at early rates – and really don’t you know three or four months before a show how much electricity you will need? Or cleaning? Or labor? Then there is your exhibit. Absolute Exhibits offers discounts to early signers. Why? It allows us to plan ahead and construct exhibits during working hours, not on weekends on overtime rates. Additionally we can add a second shift to maximize manpower. Hotel rates, air flights, even social events can be negotiated early on.

Why pay last minute rush fees? In virtually every case this is not necessary and leads to a bleeding budget. The trade show floor is hectic enough with last minute sale meetings, logo changes, early meet and greets for prime clients – take this other nonsense away and put away your credit card.

Budgeting - Cutting Warehousing Costs

Posted by admin on Thu 17 of June, 2010 15:56 PDT - Permalink | Email This Post | Print

Sell your old exhibit – it’s as simple as that. Pack rats are obvious critters. Heaps of old record albums crowd the cd’s off their shelves; worn work shirts and bell bottoms spill out of their closets. They are graduates from the school of "you never know - I might need/want/wear that again someday." Pack-rat-edness among exhibit display owners is especially hazardous, since exhibit storage space comes at a premium far higher than a closet shelf or a dresser drawer. In many cases display owners are paying by the cubic foot to warehouse that old exhibit, and it hasn’t seen daylight since The Greatest Show of 1992. If you are not paying for outside storage, then you are using your own valuable warehouse space.

Why not sell it? There is a growing market for used exhibits - plenty of up-and-coming exhibitors want the look without the price. You’ll bring in some revenue as well as get rid of those nasty storage fees. To make the selling process easier for you as well as your prospective buyer, keep the following guidelines handy when prepping your exhibit for the market:

• Papers, papers, papers - Proper documentation is the key to selling an exhibit. Pull together all records you have for the exhibit and its operation. Include: blueprints and set-up drawings; inventory and crate packing lists; I&D and service bills; and especially photos.
• Selling parts - If you can sell 85% of your booth in one shot – do it. However think through the idea of selling certain parts – selling the centerpiece by itself may leave you with items that you can never sell.
• Repairs – Buyers should know that they are buying “as is.” Cosmetic changes do not increase the value of your exhibit. And, forget selling the sliced and diced carpet – it has no value.
• Pricing – this is a real guessing game and negotiating is the rule. This sale is definitely not a profit center – set a price and be prepared to bargain. Remember the buyer has to make alterations, add new logos, buy new fixtures and carpet – so think 30% of the original cost as a starting point and be prepared to go down from there.

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Created by: admin. Last Post: Thu 17 of June, 2010 15:57 PDT

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