When you are planning on making an exhibition stand, so many factors come into play. The most significant consideration is the production budget.
You have to understand how much production will cost you and why. There is no one-answer-fits-all, and every case is taken on its merit. The production cost will depend on the stand’s functionality and design, which will be based on your exhibition intentions or goals.
Should You Buy or Rent?
Making your stand is more expensive than renting one. The difference is that once you make your stand, it belongs to you, and you get to custom-build it to your specifications.
The rental stand comes in a standard design, and there is not much you can do to customize it since it’s not yours.
If you can afford to build your stand, you can make it however you please, and you can use and reuse it multiple times. All you need to do in the future when you have an expo is arrange for transportation since the stand is ready.
How to Make the Stand Budget
The first thing you need to do is contact different stand production companies via a stands finder everywhere and anywhere you are in the world.
Give them your idea, tell them where and what you need the stand for, and collect quotations. Each company may be slightly higher or lower than the next, so sit down with the quotations and compare.
Ask questions regarding material, time frame for completion, and check if their price justifies the result. If possible, choose a company that includes design, building, installation, and dismantling services in their quotation. This will reduce a big part of your budget.
2. What Type of Budget Do You Need?
You need to have a tentative budget in mind. How much do you want to spend?
A stand gives you a better success rate. Spending some more money on a raised floor, better graphics, audios, visuals signage, and downlights will help your stand become more attractive and invite more visitors, increasing your chances for making better sales.
You do not have to spend an enormous amount of money, and if your budget is limited, a shell-scheme or modular stand can serve the purpose. A shell-schemed stand is used for a smaller space and has a simple but functional design. You can customize the stand with furniture and graphics to make it more attractive.
3. What Will You Be Paying For?
While creating a stand budget, you should know that you will be paying for everything from scratch.
The designers who design your stand are experienced and creative designers who put in a lot of work to ensure you get a final product that you will love. The cabinetmakers who do the actual building are also skilled professionals who recreate the design precisely.
The final budget also includes materials and other things like:
- Project management
- Transport, etc.
Not everything a stand needs is on this list, but it is essential to factor in most of these things when preparing your stand budget.
If your stand is for an expo or exhibition, check with the organizers for your space dimensions. This helps to know the stand’s size and prevents it from being too large or too small.
Find out how much the stand will cost per square meter and factor that into the budget.
If the space is too expensive, a double-deck stand may be more affordable than paying for double the floor space. Look at how much this option will cost you vis-à-vis building a bigger stand.
5. Stand Transportation and Drayage
You have to consider the cost of transporting your stand. Your shipping costs may vary depending on your event location and whether it is in your country or another country.
You need to know whether the event (if the stand is for an immediate event) has a set deadline for transporting to the venue or your warehouse. This may take up at least 20% of the budget.
The shipping expense is calculated depending on your stand’s weight and size, and the drayage costs involve unloading and handling the stand to the event and back. This cost may cover at least 10% of your total budget.
Read also: 7 Event Transport Tips to Make Your Guests Feel Comfortable
6. Equipment or Furniture
Things like audiovisual equipment like digital screens and speakers will have to be factored in. You may choose not to buy them, and you can rent them during an expo.
You will also need furniture, which you can buy or rent, but either way, these costs have to be factored in the stand’s budget, even if it is not a part of building the stand.
7. Miscellaneous Costs
Sometimes, unforeseen costs may crop up, or you may decide to add some details to the stall, which will escalate the price. Have some money set aside for such miscellaneous costs.
If your stand is for an expo, you need to factor in the staff, who will be the deciding factor in the marketing strategy. You may have the best exhibition stand, but it will not generate any sales without the staff. Factor in:
- Staff training, if any
- Accommodation if need be
Building a stand is more expensive than renting. The rental option may be cheaper but more costly in the long run. The production of your stand means you get to build it according to your business needs, and you can always use it any time you need it. Modular stands are much cheaper for those with a limited budget, but you can customize them to suit your needs.
Decide on the stand builder, factoring in different quotations from various companies. Consider whether the company charges are inclusive of design, building, installation, and dismantling the stand.
Remember you are also paying for a service, and the costs should be commensurate with the services offered. If the charges are all-inclusive, the better for you and the more savings you make.