Festivals are a huge part of our culture – but they don’t just happen. It takes months and months of meticulous planning (enter festival production teams like ours) and at the heart of it is one major pillar: the budget.
When budgets are done badly, you’ll know about it. It’s visible in every aspect of the festival – long bar queues, poor facilities, overflowing rubbish bins, the list goes on. You only have to Google the infamous Fyre Festival to see the repercussions: an example of when a budget is closer to wishful thinking rather than practical planning…
So, how do you create a festival budget that ensures a fun time for all, while also enabling the festival to run smoothly from start to finish?
The Fair’s Production Manager Louise gives us the run down…
Festival Planning – Budgets: Vision & Objectives
As production manager, you’re the bridge between big ideas and what’s possible. To bring that vision to life, start by asking these key questions:
- What is the client’s vision?
Understand their goals and what they want to achieve. - What’s the expected capacity & duration?
Bigger crowds and a longer show require more logistics, more staff and therefore, more money. - What type of festival is it?
Music, food, arts..? The style will dictate your setup and tech requirements. - Where is it?
Does the site have power, water, electricity? Will it cost to hire the venue?
These are just some of the questions will help you start to feel out the scale and potential costs attached.
Festival Planning – Budgets: List all potential costs
Once you have a clearer idea of the festival, it’s good practice to list all potential costs. You could do this via a brain dump, brainstorm with your colleagues and/or refer to historical data if you’ve done the festival before.
It could be worth breaking down your budget and therefore thought process into sections such as:
- Venue & licensing
- Production
- Tech production
- Consultants
- Food/travel and accommodation
- Artists fees
By categorising costs and collaborating, you’ll lay the foundation for a solid budget that doesn’t accidently miss anything out.
Festival Planning – Budgets: Add in contingency / estimate costs
Things will change and unexpected issues will arise. External factors, last-minute requirements, unforeseen challenges will all impact the overall cost.
To prepare for this, include a contingency line to the budget or add estimated costs that you are unsure on. This ensures that when things change and costs go up, you have built this into the overall budget.
The contingency can be a percentage of the overall budget, and/or an estimate can be based from quotes you have taken from other festivals.
Festival Planning – Budgets: Get talking
As soon as you’ve started putting rough costs into your budget, reach out to suppliers and get quotes. This helps refine your estimates and ensures your budget is as accurate as possible.
Festival Planning – Budgets: Review, Rework & Refine Your Festival Budget
Your budget isn’t something you simply set and forget — it’s a living, evolving document. As decisions are made and quotes are received, regularly review and adjust your budget to ensure it stays aligned with your goals.
Don’t forget to track your spending throughout the planning process too. This allows you to stay on top of your finances, identify discrepancies early, and make timely adjustments to keep your festival on track.
Staying on top of these tasks is essential for success. It helps you stay within budget while staying flexible enough to adapt to unforeseen challenges.
Festival Planning – Budgets: Post-show analysis
Reflect on the event and ask yourself these questions:
- What went well?
- What could have gone better?
- Compare V1 budget to the final budget – what changed?
- What unexpected costs arouse and what can you do to make the change for the next year?
The answers to these questions will offer valuable insights that can guide adjustments and improvements for the next festivals budget.
Festival Planning – Budgets: In Summary
Creating a festival budget goes beyond just numbers – it’s about laying a strong foundation to ensure the event’s success, even in the face of unexpected challenges. By clearly defining the vision, listing potential costs, adding contingencies, and continuously refining the budget, you set the stage for a smooth and seamless event.
When it comes to budgets, as well as all other elements of festival and event production, we’ve got decades of experience under our belt here at The Fair. So, if you’re thinking of hosting your own large-scale event, be sure to get in touch, and we can take care of it for you!
For more information, check out Our Services, or be sure to Get In Touch.
