How to Finance Your Event Idea

If you have a great idea for an event, you want to make sure you can execute and finance it. Good event planning starts with a realistic estimation of the costs of your event and how it can be funded. If you are looking at getting an injection of funds to get your next event up and running, here are some tips on how to finance your event idea…

Selling tickets
Using an event-ticketing platform such as Sticky Tickets enables you to start selling tickets for your event in advance. This will also test the desirability of your event idea with the audience and how much, if any, extra funds you may need.

Form a ‘crowd’
Crowdsourcing or Crowd funding is a relatively new way to help you get financial support for an event. Crowd funding is generally facilitated some online through various platforms.

Crowd funding is also a way to also organise an initial guest list or a build a network of supporters. On the crowd funding platform, you would outline your event idea, including how much you are looking to raise and ask potential attendees / supporters to make a financial pledge if the event goes ahead.

However, if there’s not sufficient interest and you don’t meet the target, the pledged money will be released back to those who made the contribution. This makes it a risk-free investment for both you and your attendees.

Sponsors
Sponsorship can also be a very effective way to fund key elements of your events. A sponsor will want to know details such as

1. How many people are attending?
2. Demographic information (about the audience)
3. When and where
4. The agenda
5. Your marketing plan

Make sure you are well prepared before speaking to potential sponsors.

Angel Investors
Another funding mechanism is Angel investors or wealthy individuals or groups of people looking for investment opportunities. At such, you pitch your event idea and ask for financial support.

Overall, when it comes to finances, its best is to plan early.
Let us know how you financed your event!

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