Negotiating With Suppliers And Venues

When it comes to event planning, negotiating with suppliers and venues is a skill that can make or break your budget. At Togather, we understand the intricacies involved in creating a memorable event without overspending. Whether you’re an experienced event organiser or a first-time negotiator, these tips will help you secure the best deals and ensure your event is a success.

When negotiating on price, do try to be realistic and respectful of the service the supplier or venue is providing. Going in with a price far, far below their quote or that you know yourself is unrealistic, is not going to get things off on the right foot. Bear in mind that suppliers must take into account travel, staffing and ingredients costs, and venues must also cover staffing, utilities, cleaning etc.

We spoke to Joe, our Venues Partnerships Manager, who said:

"To negotiate effectively with a venue, keep in mind their goal: filling their calendar with events that meet their minimum spend. Start by asking for the minimum spend for your desired date, and request they adjust the package to fit your requirements in terms of catering, bar and entertainment. Offer a firm commitment if they meet your price, making it clear they won’t need to fill that date again. Mention quotes from other venues to show you have options. Oh, and focus on negotiating the venue hire fee, as this is often more flexible than the cost of food and drinks."

Check out some other tips below:

Tip 1: Do your research

Before entering any negotiation, it’s crucial to be well-prepared. Research the market rates for the services you need and understand what each supplier or venue can offer. Knowing the industry standards will give you a solid foundation for your negotiations.

• Know the market: Look up average costs for similar suppliers/venues in your area

• Understand your needs: Be clear about what you require and prioritise your must-haves versus nice-to-haves.

Tip 2: Build relationships

Building a good rapport with suppliers and venues can go a long way. People are more likely to offer their best prices to those they trust and get on well with.

• Communicate clearly: Be honest and transparent about your budget and what you’re looking to achieve.

• Show appreciation: Recognise the value that the supplier or venue brings to your event. A little appreciation can lead to better deals.

• Be respectful: Treat negotiations as a partnership rather than a battle. Mutual respect will foster a more positive negotiation environment.

Tip 3: Be flexible

Flexibility can be a powerful tool in negotiations. If you can be flexible with dates, times, or certain services, you might find suppliers and venues more willing to negotiate on price.

• Timing is key: Off-peak times are often cheaper. If your event can be scheduled during these periods, you may secure a better rate.

• Alternative options: Be open to alternative solutions that the supplier might propose. They might have ideas that can save you money without compromising on quality.

Tip 4: Use your leverage

Leverage is about knowing your strengths and using them to your advantage in negotiations.

• Volume and repeat business: If you’re planning multiple events or have a long-term need, use this as leverage to secure a better deal.

• Competitor quotes: Politely mention if you’ve received lower quotes from competitors. This can sometimes prompt suppliers to match or beat those prices.

Tip 5: Always get it in writing

Once you’ve reached an agreement, ensure all details are documented. This avoids any misunderstandings later and provides a reference point if any disputes arise. If negotiations take place over the phone, send a follow up message after just to confirm everything in writing so you both have it to refer back to in future.

Ready to start planning your next corporate event? Get in touch with Togather, and let's bring your vision to life. Our team is here to help you find the best suppliers and venues, ensuring your event is unforgettable and on budget. Let's get started!