You need to do proper exhibition budget planning before participating in any event. Sometimes exhibitors think that modular booths look cost-effective and are perfect for their project. However, in the end, they regret that they are not able to achieve the goals they want. They see custom exhibition stands that can help them accomplish their goal. However, the entire exhibition stand budget should be planned.
Well, what happens during an exhibition is that you need to pay the fees for the booked space. So, you need to be extra careful to use that space wisely. Exhibition stands come in different types and sizes. You need to connect with your exhibition stand builder and booth construction company to discuss your requirements and budget availability.
One simple tip is to keep your graphics simple and keep your branding message clear as well so that your clients can easily catch your branding info when they look at your trade show booth. This blog is all about exhibition budget, which is very important to understand for exhibitors. Let’s begin.
Start With Your Exhibition Space Cost
The first cost to consider is the budget for exhibition space. Your stand size will decide the overall budget. A small trade show booth may fit some businesses but not others. It requires the use of less material, furniture, lighting, and construction. On the other hand, a large company requires an exhibit that comprises more design elements and services. The type and location of the space can also impact your costs. An open space will allow you to create your own design. A Raw space provides you with more double-decker stand design freedom, but you need to organise more elements yourself. Before finalising your exhibition stand design, confirm exactly what is included in your booth project. Some services are charged separately.
Include Exhibition Stand Design Costs
Your exhibition stand design should have its own place within your budget. A professional exhibition stand design company can utilise your space better and give your stand a clear brand message. Blueprint Exhibits is one of the professional exhibition booth designers who can manage the technical part of 3D booth design. Our full project management covers all stand design and construction parts. Do not go for a design only for the wow factor in a 3D image. The design should be able to be built, be appropriate for your exhibition space, and provide visitors with sufficient space to see, talk to your team, and move around the stand to your meeting areas.
Plan for Construction and Fabrication
Some exhibition stand companies, like Blueprint Exhibits, handle the trade show booth construction part in their manufacturing facilities. These operations make good use of your budget and create booths with high-quality raw materials. However, charges for custom exhibition stand construction are quite high and depend upon the level of customisation.
A simple modular stand can often require less construction than a custom stand. Custom stands may include bespoke walls, counters, product displays, raised platforms, storage, meeting rooms, or other features.
The material that you select also impacts the cost. Premium finishes and complex structures can also increase the budget. Discuss your expectations with your exhibition stand builder before production to ensure that the builder can suggest cost-effective options that still achieve the intended purpose of the stand.
Do Not Forget Graphics and Branding
Your exhibition stand is also a marketing space. Your graphics need to be included in the budget from the start. Consider your main wall graphics, logos, product graphics, hanging signs, reception branding, directional signs, and other printed elements. The type of printing can also change the cost. Backlit graphics, large fabric, and special finishes can all be more expensive than standard graphics. Your graphics in the exhibition stands should not just fill the walls. They should be able to deliver your message in a clear way. Visitors should be able to understand your company and what it is that you offer, without having to read too much information.
Add Furniture and Product Displays
Furniture is another cost that exhibitors often forget. Your requirements may include reception counters, tables, chairs, stools, sofas, display units, shelves, storage, and meeting room furniture. Consider how many people will be working on the stand and also how many visitors you will need to have meetings with. A small stand may only need a reception counter and a few chairs, but a larger stand may need several meeting areas. Product displays should also be incorporated into your exhibition stand budget.
Understanding Lighting and Electrical Requirements
Lighting is a basic requirement of exhibition stand appearance. This is one thing that can make your products noticed. You should connect with exhibition stand contractors who can determine the right budget by considering lighting and electrical requirements. This may include spotlights, LED lighting, backlit displays, illuminated signs, or decorative lighting. Some products may also need a dedicated power supply.
Do not assume that basic electrical services are included in your stand quotation. Venue charges are often separate. You should confirm the organiser’s rules and have your exhibition stand contractor confirm what is included.
Budget for Technology
Technology can add value to your stand, but it can also add cost. Your technology budget may include LED screens, televisions, touchscreens, tablets, interactive displays, sound systems, product demonstration equipment, and charging points. Internet access may also be required. If your team is going to utilise digital lead capture, product demonstrations, online presentations, or live communication, internet access becomes important. Technology should have a purpose. Do not add more screens just because other exhibitors have them. Select technology that can help to explain your products, get visitors interested, and support your sales messages.
Consider Transport and Logistics
Transport is a very important element of an exhibition stand budget when the event is in another city or country. You may need to transport the stand, graphics, furniture, products, samples, promotional materials, and other equipment. International exhibitions may also have additional customs requirements, and delivery schedules at exhibition venues can also be strict; any delays can incur additional charges. Ask your exhibition stand builder to explain the transport and logistics costs before you approve the project. This gives you a better understanding of the actual exhibition investment.
Include Installation and Dismantling
Your budget should also include installation and dismantling. An exhibition stand design needs to be assembled at the venue before the exhibition opens to the public and dismantled and removed within the organisers’ schedule after the exhibition. Installation costs can include the labour, supervisors, electricians, carpenters, and any equipment and on-site requirements. Dismantling also incurs additional labour and transport costs.
Some exhibition stand builders and booth construction companies include these as part of their main quotation, while others may list these as separate costs. Always check this before comparing.
Save some amount for unexpected issues.
Unexpected costs can arise during an exhibition project. An exhibition stand design change may be required, a venue service may incur additional costs, or additional transport or labour may be needed. This is why an additional amount should be a part of your exhibition stand budget. Current budgeting guidance suggests that companies keep a reserve for unexpected exhibition costs, rather than spending the whole amount on planned items. The exact amount will depend on the size of the project, but the idea is to have a contingency reserve rather than using your initial budget as your final amount.
Compare the Complete Cost
When comparing exhibition stand builders, do not compare the headline price. Check what is included in each quotation. Some exhibition stand design companies may include design, graphics, transport, installation, and dismantling, while another may charge separately for these services. A cheaper quotation may actually be more expensive when you have to add additional services.
Ask for the right quotation. Check the design, fabrication, graphics, furniture, lighting, technology, transport, installation, dismantling, venue services, and project management. This approach will give you a better understanding of your actual exhibition investment. Expo Stand Services also recommends checking the complete service scope and cost breakdown when evaluating stand builders.
Build Your Budget Around Your Exhibition Goals
A good exhibition stand budget is not about simply saving money, but spending it in the right areas. If product demonstrations are important, you may need to allocate more money to displays and technology. If meetings are your focus, you may need better meeting spaces, and if brand visibility is important, you may want to invest more in graphics, lighting, and stand architecture.
Start with your exhibition objectives and budget, and divide your budget according to your needs. This will help you avoid spending too much on things that do not help achieve your goals.
If you are concerned about the budget and want pocket-friendly exhibition stands, then you can consider Blueprint Exhibits. Our exhibition stand contractor company can be the perfect pick for your next participation.
