How is the pricing determined for party venues for rent? How can you tell if you are paying a fair price? What should you look for? All valid questions, and we have the answers in this article by Tarrant Events Center, serving the Greater Fort Worth area with our all-purpose event center conveniently located in downtown Fort Worth. Call us at 817-996-3636 for more information.
First thing to know about party venues pricing is the range of prices.
Party venues are, by way of a simple definition, places where parties can be held. That rather broad definition includes church auditoriums, the backrooms of restaurants, tourist attractions, skating rinks, basically any place which is zoned for a large number of people and has some basic features which will allow for a party to occur without any setbacks.
Having said all that, as you might suspect, the rental prices for party venues are all over the board, from $500 for the low end to $10,000 or more at the high end of the party venue spectrum.
That information is, in fact, good news, simply because a large number of options means a better chance that you, the customer, will find something which fits within your budget and gives you the chance of making your party vision reality.
What determines those prices?
The pricing of a party space rental will be determined by several factors, the three most important being supply and demand, time, and location.
Supply and demand . . . in a city with many party hall rental options, the mere fact that there are so many venues means the price will be determined by the competition for consumer dollars. All things being fairly equal, the only factor separating two venues of similar offerings is the rental price, so that price will be competitively established. In fact, in a city of multiple similar options, this factor of competition is great news for the public, for any price set could also be subject to negotiation, especially during the slow times of the rental calendar year.
Which brings us to the time of the year.
The busy time of the year for party venues is usually around the holidays, a span which includes November, December, and January. After January, rentals are much less common, a factor which may mean lower rental prices to attract people looking for great rental deals. Rentals increase once again in the spring and summer, with weddings and receptions being very popular.
Finally, the location is at play in determining prices. As you might suspect, a tourist attraction like Disneyland would be very expensive, or a party venue in Beverly Hills, simply because of its location. Similarly, some locations in a city are more in demand because the location is in a desirable part of town.
What can you do to make those prices palatable?
What many people do not realize is that the rental price for party venues is only a small fraction of the total cost of a party. You also need to pay for food, for decorations, and for entertainment. Do you want to save money on a party? Adopt a DIY attitude with regards to decoration, food preparation, and entertainment.
And remember, as we mentioned earlier, many rental prices are negotiable. It never hurts to try negotiating for a better price. During tough economic times, when event space rentals are slow, you might find a venue where a lower price can be negotiated.
Finally, insist on all-inclusive pricing, which simply means there are no surcharges or hidden costs involved in the price. The price you agree upon when you sign the contract is the price you will pay when monies come due.
A final word about Tarrant Events Center.
Tarrant Events Center is locally owned and operated. Call us and ask us about our ten floor plans, finishing kitchen, moveable stage, acre of landscaped grounds, and more.