Corporate family days is the ideal way to reward your hardworking staff and their families. Business events and parties provide the perfect platform for business partners to interact with each other in a less formal setting. At the same time, they can present opportunities for a business to grow because a business owner can network and meet potential clients at such events. Of course, if you plan to host such events, as either an individual or a company, you should find a way to leverage them to grow your business without necessarily going above your business budget. Fortunately, by making small changes on some business event expenses such as events catering costs, you can reduce your overall business spending and improve profitability. Here are some of the measures that you can take to achieve that goal:
Opt for a Simple/Lighter Menu
Even if your company has a tradition of hosting extravagant dinners or business parties, consider planning an event where your catering service provider serves a light menu at a lower cost, occasionally. In the current state of the economy, it may not be wise to invest a huge portion of your company’s financial resources on business parties. Of course, if you want your caterer to serve light, low cost meals, you should preferably schedule the event after lunch or after dinner in order to ensure that your employees and guests eat before the event. If you can only schedule the event during lunch or dinner hours, consider asking your caterer either to serve a buffet, which is usually cheaper, or to include inexpensive foods in the menu.
Catering Event Companies
Larger event catering companies that have a strong brand are likely to charge much higher prices in comparison to small companies or restaurants. This is because large companies normally tend to have higher overhead costs. In view of this, consider hiring a small catering company whose prices are within your budget to cater your event. However, it is important to ensure that the service provider you hire has excellent service to ensure your guests have personalized service and enjoy a great menu.
Reduce Your Guest List
If you want to plan your companys event on a tight budget, consider limiting the number of people you invite to your party. Granted, this may be particularly difficult if you have a reputation of hosting open business events where employees or business partners have the leeway to invite their friends and family members to your events. You can reduce the potential impact of this decision by holding your important business events on weekdays or during office hours when non-staff members are less likely to attend. This will significantly reduce your catering costs since the number of people attending the event will be low.
Company events are undoubtedly one of the most effective channels you can use to express gratitude to your employees for their performance and explain your business agenda/goals not only to them but also to your business partners. However, it is vital to ensure that you do not spend too much money on such events to safeguard your business’ resources.