How Much Does It Cost To Rent A Venue?

By Author: Millennium Gate Museum
Total Articles: 686
Comment this article

The cost of renting a venue like museum wedding venues Atlanta is one of the most important administrative tasks for an event planner. While prices vary according to factors such as size, location, and amenities, determining an appropriate budget is fairly simple.

Here are some useful questions to keep in mind:
How do I know if the cost of hiring a venue is within my budget?
What are the non-negotiable amenities?
What kinds of deals or price cuts should I ask for?
Continue reading to find out how pricing packages, amenities, and venue type can all influence your location selection.

What are some typical venue pricing models?
Be aware that different venues charge in different ways for their services. To assist, we've created an overview of the twelve most common ways venues charge.

Rental fee
A rental fee is a set price that can be paid per day, half-day, or hour. The rental fee is typically only for the space and does not include any extras such as food and beverages. Check to see if any items in the room, such as furniture or equipment, are included in the price.
Inquire ...
... whether the venue will allow outside catering; some offer catering or have a list of preferred suppliers. It should be noted that catering will usually incur additional charges.

Uncatered venue
If you want to bring your own food and drinks, look for an uncatered venue. You will pay a set fee to rent the space, but you are welcome to bring your own equipment and catering. These are "blank canvases," which means they come with no décor or equipment. You'll be responsible for bringing everything in, and you may have to pay a fee to rent the venue without any strings attached. If you're savvy, it can work out to be a cheaper option.

Package per person
Rather than charging a separate fee for the space, some venues will include it in the cost of the catering. If you're throwing a party or dinner, you can charge a fee per person to cover the event space, food, serving staff, and a predetermined amount of alcohol (usually an allotted number of drink tokens).
Negotiate the addition of extras like a dance floor. Going to a restaurant may provide a more competitive deal for dining events because they have fixed costs.

Conference packaging
While conference packaging is still more popular in the UK and Europe, some US venues are now offering it as well. These are frequently available in half-day and full-day packages. You pay a flat fee per attendee, which includes the event space with furniture, refreshment breaks (typically three throughout the day), lunch, basic AV equipment, and extras like notepads and pens.
However, most US venues still prefer to charge their customers line item by line item.

Minimum price point
Venues that charge a minimum price or "minimum spend" usually do not charge rental fees. Instead, they require a certain amount to be spent on food and drink. Examine the price of what's on the menu to see if this is a good option. For example, if drinks are twice as expensive as at other establishments, it may not be a good overall deal. Why pay more for space rental when prices are comparable and you know you'll meet the minimum spend?
This deal is appealing if guests expect to pay for their own drinks, effectively providing you with a free venue. The only risk is that if your guests do not spend enough to meet the minimum, you will be required to make up the difference.

Minimum number of guests
Some establishments, such as bars and clubs or Atlanta contemporary art center wedding, may be open to the idea of a deal in which you guarantee the minimum number of attendees rather than the amount they'll spend on drinks. Because the venue's loss/gain is less tangible, you'll have to negotiate the penalty if you don't meet the promised footfall.

Do venue rental costs vary by geography?
The cost of a venue varies greatly depending on its location. For example, expect to pay more in densely populated coastal cities with high living costs, such as Atlanta. If you're looking for a venue in a more rural area of the United States, you might be able to save money. However, you will most likely have fewer options.

Know more about Millennium Gate Museum, please visit www.thegatemuseum.org.