There are many factors that contribute to the cost of attending a trade show, and a trade show budget should be planned accordingly. The president of the Trade Show Exhibitors Association, Margit B. Weisgal, recommends that you hire one staff member for every 4.5 square meters of booth space. Therefore, a booth size of 6×3 requires four staff members, whereas a booth size of 6×6 requires eight. Another factor to consider is the cost of show services. These are often overlooked, but they add up to become huge costs.
In addition to booth rental costs, you must also consider other expenses. For example, a ten-foot pop-up display panel will cost approximately $4,000, but you should also factor in other costs, including travel and staffing. Wi-Fi access, which is essential for online marketing, can cost an extra few hundred dollars. If you are not sure what all of these expenses will be, you can check out popular trade show venues’ websites.
Another factor that contributes to your trade show budget is the number of leads that you generate. While trade show attendance cannot be quantified, it can be equated with business leads and other benefits. For example, learning about destination trends could lead you to research future events or blog posts that will make you more successful. These business leads may also be potential client wins, resulting in profits. You can’t measure all of these things, but the data you gather at a trade show will help you make more informed business decisions.
Booth rental can vary from $20 to $45 per square foot. Some shows charge more for premium booth locations. Booth space near the main entrance can be more expensive than a booth in a corner or on an upper floor. You’ll want to make sure to communicate early with the exhibit I&D team. In this way, you can avoid unexpected costs. Aside from the cost of a booth space, you’ll need to spend some money on promotional and sales tools. You’ll also need various audiovisual equipment and furniture to market your products and services at a trade show.
While the costs of attending a trade show may seem daunting, there are several ways to reduce them. Choosing a local trade show can prove to be a low-cost testing ground, and you can cut down on labor costs with a third-party contact. If you decide to attend a national trade show, make sure to account for travel expenses. Finally, don’t forget to factor in the cost of I&D services and exhibit design.
In addition to exhibit design and production work, you should also factor in the cost of shipping your goods to the trade show. On average, businesses spend 9 percent of their budget on shipping their goods to trade shows. For larger exhibits, you should allocate a larger budget for shipping. Generally, exhibition stand hire services include packaging and delivery of your items. You should also consider whether you need to hire a company to help with securing your fragile items during shipping. In some cases, organisers will offer bulk drayage rates for your booth.