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It is good for a festival planner to have a tool that helps with the preparation of your budgeting plan for the music festival. Many people get the idea that the first task in the planning process is to make the budget. The truth is that it is not enough just to come up with the budget and check it off a list, but other steps are required to take before the festival even starts.
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You have to know where you are at your festival. There is no point in making a full plan for your music festival when you are not even sure if you are going to have a successful festival. The first thing you need to do is decide whether you want to have a city or a weekend festival and also determine the best venues. Then, you need to figure out if there are going to be any guests at the event.
Once you have this information, you can begin the task of budget planning. In this plan, you will need to allocate all the expenses for the event so that you can compare the cost of all the things and check which are more affordable.
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Your paperwork should include all receipts that can provide tax receipts. You should also have a separate document for expenses such as the company’s expense report and hotel and transportation receipts. Make a schedule that includes the time and date of the festival and a list of all the activities that will take place.
There will be some personal costs that are specific to the concert itself. These include the admission fee, the insurance for the performers, food, and drinks, souvenirs, entrance fees, and rental fees. Also, you may want to add in fees for staff at the venue.
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If you plan to have more than one performer, then you can include in your budget all the additional expenses. For example, if you have a few bands playing, you can include the cost of an extra band member for each one.
Lastly, you need to determine how much money you can afford to spend on entertainment. You can choose to pay a performance fee or a cover charge. If you opt for a cover charge, you will need to find out whether or not there are any discounts.
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