If you have a tight budget for throwing a corporate party, there are plenty of ways to still reward your employees without breaking the bank. Company parties are a great way to show your employees that you appreciate all of their hard work and encourage team bonding. So here the top tips on how to throw a corporate party on a budget.
Gauge Employee Interest
It is important to start by gauging how interested your employees are in having a party. Chances are they will be ready to let loose and enjoy some social time, but if it's near the holidays and people already have other obligations keeping them from attending, maybe rethink when you have the party. There is nothing worse than spending money on a corporate party only to have very few guests attend.
Feeding a Party on a Budget
Food is often one of the most significant line items when it comes to the office party budget. Generally, corporate party planners will hire an expensive catering company that ensures a variety of tasty food but can cost a pretty penny. Instead, consider whether or not the venue you choose has in-house catering, which is usually more affordable than hiring an outside vendor. You can also consider providing light finger food instead of an entire meal. Having a variety of hors d'oeuvres is a great way to still offer something to eat while keeping the cost down.
Reconsider the Open Bar
Some company parties are synonymous with an open bar of free-flowing liquor. The alcohol tab can get run up rather quickly this way and end up costing thousands of dollars. Doing away with the booze all together would clearly save you a lot of money, but it doesn't have to be the only option. These days it's not uncommon to have a cash bar. Choosing a venue with a bar in-house may allow you to take much of the alcohol expenses out of the equation without keeping guests from indulging a little. Plus, if guests are paying for their own drinks, they are less likely to become overly impaired.
Have an Exclusive Guest List
If you're trying to throw a corporate party on a budget, it is worth considering whether or not you will allow employees to bring guests. While it is nice to invite spouses and significant others to the party, the extra generosity means extra money since you are nearly doubling the guest list. Having a guest list that is exclusively employees means less space, less food, and fewer drinks. If you do choose to save money this way, consider having the party on a weekday during business hours or right after work, so spouses and significant others don't feel as left out.
Don't Overdo the Entertainment
While it might seem like more fun to have a live band, consider hiring a DJ instead. Live bands can cost a lot of money, especially if there are many members. If you really want live music, there may be some up-and-coming local groups that would charge less than a seasoned-professional band. Just remember to hear samples of their music first! You can also consider creating a playlist of music on iTunes or Spotify that can be put on shuffle during the party. You may also want to consider hiring other forms of entertainment such as a magician, someone to draw caricatures, or set up a photo booth.
Find the Right Venue
Paying for a party venue can also make up a significant portion of your corporate party budget. For ease of planning and budget purposes, finding a venue that can include many of the necessary party items can make a difference. Venues that have tables, chairs, a bar, lighting, decorations, and plenty of parking could allow you to still throw a party that feels extravagant without going over your budget.
Host Your Next Corporate Party at Cooper's Ridge
Cooper's Ridge is an excellent place to throw a corporate party on a budget! This Mid-Missouri event venue has 6,200 square feet of indoor space and sits on 38 acres. With 1, 2, and 3-day reservation packages, you can reserve as much or as little time as you need. The experienced event staff can help design the perfect layout with full setup and break-down services available. The facilities offer modern amenities, including private parking, handicap accessible restrooms, WIFI, a large covered patio, and a full-service bar. Reach out today to schedule a tour.