Gauging Venue Attendence

(Kal Strong) #1

Is there any options once you book a venue if you do not sell enough tickets to cover your total overhead? Another words if you book a big venue, whats the best way to minimize your risk in case it does not sell well? Do you lose the deposit or…?

(Nicola Quilter) #2

Hi Kal,

In my experience that’s usually all determined at the point of contract. Cancellation Ts & Cs etc. It’s good to try and negotiate at point of contract to ensure that in the worst case scenario your business is not at a financial loss - perhaps identifying a venue that can be quite flexible regarding the space you want to use depending on final numbers?

(Belinda Booker) #3

If you cancel the event you will lose the non-refundable deposit, which increases on a sliding scale the closer to the event you get. Much depends on the size of the event; for larger events the cancellation charge can be as much as 100% as far out as 60 days ahead of the event date.

According to research, the average charge for cancellations up to 15 days in advance is 82% of the hire fee. Average cost of cancellation up to 30 days in advance is 59% and up to 60 days in advance is 43%.

However, the venue should endeavour to resell the space and, if successful, reduce the cancellation fee owed. Ensure this is confirmed in your contract.