Originally Posted by
FilthyDave
Both
You should be running a spreadsheet with a full breakdown of all costs from venue hire, sound, lighting & decor to artists & riders
This should also show how much you aim to raise through hiring stall pitches and sponsorship
You need to show how much you'll need to breakeven with anything over that going to the charity
That breakeven figure can be part or fully funded by your sponsors but if it's only part funded you need to be able to show how many people you need through the door to make that figure given the ticket price you want to set
Allow for contingency funds in case you need to get anything in at short notice (or your headline artist breaks down 10mi from the venue and you need to get him a taxi sharpish)
After the event use that spreadsheet and add in any extra costs to workout exactly how much the charity is owed, pay it in and get a receipt then send that info the companies involved so they know everything was all above board and legit.
Get invoices/receipts for everything cos if someone comes knocking they'll want proof you weren't ripping anyone off
Providing these and your spreadsheet tally properly you'll have no issues
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