Phil is back again this week with great learnings about how to budget for an upcoming youth event like summer camp, a retreat or help pull off a student leadership conference. Reading over the list, I can assure you these are born straight out of some experiences in the past year – it’d do you well to look it over to help you develop skills with numbers. Here’s a few of them, worth the trip to get the rest:
11. Think about whether you need to make a scouting trip before the event. You may need to factor in money for this as well.
12. Do your research. If you are thinking about providing a “takeaway” at your event (perhaps a water bottle or wristband with the theme Bible verse printed on it) then figure out a realistic cost, don’t just guess.
13. Look for fixed cost items (rather than costs related to group size). If you can find items or activities that are a fixed cost this will help you as once you reach your target number, additional registrants will be bonus.
14. Factor in leader/volunteer cost. If you cover the cost of volunteers at your event, make sure you factor that in early.
15. A large event needs a buffer of 5-10% of the total budget. This will hurt to add but it will hurt you more if you don’t. If it’s the first time you’ve run this event or the first time at a new venue make your buffer ~10%, if you’ve done it before you might get away with ~5%.