Financial Modelling Tool for Event Planners
As an event planning business, understanding how your cash flow fluctuates throughout the year and knowing when to make strategic decisions is essential. Brixx provides the financial tools you need to gain timely and crucial insights to guide your event planning projects.
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Model your event planning business in Brixx - see how quickly your finances can make sense!
We are working on creating this template in Brixx. Although it isn’t available just yet, you can follow the guidance below to help get started. If you need any further assistance, don’t hesitate to get in touch – we’re here to help!
Project Setup
- Project name: Event Planning Business
- Time period: Monthly (ideal for tracking seasonal income fluctuations)
Income Components
- Component: Event Revenue
- Sub-components:
- Corporate Events (£5,000 per event, 4 events/month = £20,000)
- Weddings (£10,000 per event, 2 events/month = £20,000)
- Private Parties (£3,000 per event, 3 events/month = £9,000)
- Concerts & Festivals (Large events, £15,000 per event, 1 per quarter)
- Workshops & Conferences (£4,000 per event, 2 events/month = £8,000)
- Sub-components:
- Component: Additional Income
- Sub-components:
- Vendor Commissions (Partnered caterers, DJs, decorators: £2,000/month)
- Sponsorship & Advertising Deals (Brand partnerships: £3,000/month)
- Equipment Rentals (Sound, lighting, seating hire: £2,500/month)
- Ticket Sales (for self-hosted events) (£5,000/month)
- Sub-components:
Expenditure Components
- Component: Operational Costs
- Sub-components:
- Venue Hire (£8,000/month, varies per event)
- Staffing (Event Planners, Coordinators, Freelancers) (£12,000/month)
- Catering Costs (£10,000/month, passed to clients but affects cash flow)
- Décor & Theming (£4,000/month)
- Equipment Rental (if not owned) (£2,000/month)
- Transport & Logistics (£3,000/month)
- Security & Insurance (£1,500/month)
- Sub-components:
- Component: Administrative Costs
- Sub-components:
- Marketing & Advertising (£2,000/month for social media, SEO, PPC ads)
- Office Rent & Utilities (£3,000/month)
- Software & Subscriptions (Brixx, event management tools: £500/month)
- Legal & Accounting Fees (£1,500/month)
- Client Entertainment & Sales (£1,000/month)
- Sub-components:
- Component: Taxes
- Sub-components:
- VAT (if applicable, 20% on sales) (Modelled separately)
- Corporate Tax on Profits (Variable, 19% UK rate)
- Business Rates & Licensing Fees (£500/month)
- Sub-components:
Asset Components
- Component: Fixed Assets
- Sub-components:
- Office Equipment & Furniture (£20,000, depreciated over 5 years)
- Owned Event Equipment (£50,000 worth of sound, lighting, staging gear)
- Company Vehicles (£25,000, depreciated over 5 years)
- Sub-components:
- Component: Current Assets
- Sub-components:
- Cash Reserves (£30,000 at start, fluctuating with profits)
- Accounts Receivable (Outstanding Client Invoices) (£15,000)
- Deposits Paid for Future Venue Bookings (£10,000)
- Sub-components:
Funding Components
- Component: Business Loans
- Sub-components:
- Start-up Loan (£50,000 at 6% interest, 5-year term)
- Asset Financing for Equipment (£30,000 at 4% interest, 3-year term)
- Sub-components:
- Component: Personal Investment
- Sub-components:
- Initial Capital Injection (£30,000 from founders)
- Sub-components:
- Component: Future Funding (Optional)
- Sub-components:
- Investor Capital for Expansion (£100,000 in year 2)
- Sub-components:
Scenario Planning in Brixx
- Seasonality Adjustments
- Model lower income in winter, higher in summer.
- Event Cancellations
- Simulate a 10% drop in bookings to assess impact.
- Cost Fluctuations
- Increase supplier prices by 5% to see impact on margins.
- Growth Forecasting
- Model an increase in events by 20% over 3 years.
Dashboard & Reporting
- Cash Flow Report
- Track monthly revenue and expenses to ensure liquidity.
- Profit & Loss Statement
- Calculate operating profit after taxes and costs.
- Break-even Analysis
- Determine the minimum number of events needed for profitability.
Who can use this Brixx template?
- Event planners
- Wedding coordinators
- Corporate event managers
- Festival and conference organisers
Brixx is a great tool for:
- Anyone managing the financial planning and budgeting for an event planning business
- Business owners, accountants, or managers overseeing event costs, revenue streams, and profitability
What are the benefits to event planning businesses?
- The template is tailored to the events sector, covering all aspects of budgeting, revenue, and expenses
- Effortlessly model cash flows, vendor payments, ticket sales, and sponsorship income
- Easily interpret results and graphs to assess the profitability of different types of events
- Quickly evaluate the impact of new income streams, such as VIP packages, merchandise sales, or corporate partnerships
- Receive immediate feedback when modelling different financial scenarios like pricing adjustments, venue changes, or seasonal demand fluctuations
Strategic forecasting in Brixx
- Calculating the profitability impact of different pricing structures and attendance rates
- Demonstrating projected earnings to support funding applications or investor discussions
- Forecasting and budgeting for event production costs, staffing, and marketing expenses
- Anticipating financial requirements for venue bookings, deposits, and supplier payments
- Evaluating the impact of industry trends and economic changes on ticket sales and sponsorship opportunities
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“With Brixx, the time, accuracy and ease of generating reports is much more efficient for my clients.”
Malcolm, Naked AccountingGet started with the best financial projection software - today!
Financial projection software is essential for event planning businesses, offering the insights needed to plan and manage event budgets effectively. By forecasting costs, planners can gain a clearer picture of their financial landscape. Additionally, forecasting ticket sales, sponsorship revenue, and vendor fees enables informed decisions on event feasibility, pricing, and profitability.
The ability to identify market trends, adjust pricing strategies, and plan for seasonal fluctuations further enhances an event planner’s ability to succeed long-term. With over 20 years of business modelling experience, Brixx stands out as a trusted solution, offering a robust set of features to help event professionals confidently navigate financial planning.
Investing in expert financial modelling software like Brixx empowers you to optimise event budgets and strategically forecast the future of your event planning business.