2. Develop a Budget
Once you have outlined your objectives for the exhibition it is time to develop a budget. The biggest venues in the UK charge £300-£350 per square meter, which means even a small expo stand space could cost you upwards of £3,000. Smaller shows cost much less but attract a smaller crowd.
The amount that you spend on your stand space could be completely wasted if you don’t invest in your exhibition stand. You want something bold that attracts attention to draw in the crowds, therefore it is worth investing what you can. Expect to pay more for a good quality stand than you have done for your floor space. An exhibition stand to fill a £3,000-floor space would cost, in the region of, £5,000.
This is key to running a successful exhibition. Many first time exhibitors aren’t getting the ROI that they were expecting down to a lack of investment and experience. It is possible to reduce costs by purchasing pull-up banners or alternative signage and placing that onto your floor space. This type of display does not attract crowds and does not give you the authority needed to generate sales within your industry. One of the biggest mistakes a business can make is underspending on their exhibition stand. This kind of mistake will not only damage your ROI but make the initial floor space investment irrelevant.
As well as the floor space and stand you can expect to incur other expenses such as stand dressing and decoration, lighting, power points, furniture, sales literature, staff training, travel, food and accommodation. Again, these costs can vary depending on whether you buy or rent your stand and how far in advance you organise the trip.