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Is there a forthcoming expo or trade show you plan to join? If you're a newbie or even a veteran in this aspect, you might be wondering how much; on average, an expo stand costs.
Your company typically has a budget set aside for these events. How much of this exactly do you allocate on your exhibit booth stand? Several factors are taken into account; hence, a definite amount cannot be ascertained.
To know more about estimating the cost of a trade show booth, some techniques below are indicated:
- The cost of a trade show stand design ranges from £50 to £50,000 (or more).
- When designing and setting up your space, see that you strike a balance between your budget, its distinctness and attractiveness, and your ROI.
- You may have to contribute 50% of your total exhibiting budget to your expo or trade show stand.
- Your expense for your expo booth is approximately double the price of your floor space.
Keeping these rules in mind can help you determine the cost of your exhibition booth design.
How Much Does A Trade Show Stand Cost?
This question has been asked repeatedly, and if you would ask any provider, their answers will be the same: "It depends".
Different factors and elements are considered to work out the approximate average cost of an expo stand. Among them are:
- The number of exhibitions that you are joining
- The size of your booth space
- The number of walls around your stand
- Your exhibiting goals and objectives
- If or not you will be showcasing a product
Be aware of the difference between how much you can get a stand for and how much you should spend. The following are valuable tips on how much of your budget should be allocated for the various components of your trade show stand cost.
Primarily, you ought to be aware that you asked the wrong question.
How Much Should You Spend On Your Expo Stand?
Instead of asking, "how much does an expo stand cost?" figure out how much you should spend for it. The cost of a trade show or expo booth display varies dramatically, and there's no saying about its exact or specific price.
There are pull-up banners that cost £50 each, and for some, they would suffice for a display, but they are not a crowd drawer. Being inconspicuous, they will not be able to attract attendees to check out your product.
If you opt for a simple and low-cost display, you will hardly be noticed on the trade show floor. You'll be obscured if you have a mediocre display in an expo especially if custom-built or custom modular exhibit stands surround you.
You'll want your brand to be noticed in the middle of a bustling expo area. That's why your stand should be a "stand out". When it comes to this, it is ill-advised that you use low-cost options.
On the other hand, you should consider paying for quality by selecting modular or custom-built trade show booths. They may be costlier, but the benefits that you obtain are worth it. With an attention-grabbing design, it is apt to entice the crowd to visit your space.
What Is The Ideal Budget Breakdown For Your Expo Stand?
Because you need to implement the right balance for your trade show booth, you ought to know how to allocate your total budget to its different aspects. In other words, you should know how to split your expenses for the said endeavour.
Floor Space - 25%
Your stand floor space cost and the cost of your stand make up the biggest expenditure of your exhibition. How much does a space cost per square metre?
Be aware of this because it varies from one expo to the other. But on average, it is £300 per sqm. This tends to be the first expense you'll encounter when participating in a trade show.
Exhibition Stand - 50%
You'll need to spend extra to get the best results for your exhibition stand. In this case, you ought to apportion half of your total budget on your booth design and physical makeup.
Don't scrimp on this one because it's worth it to pay for a bespoke and eye-catching expo stand.
You'll have a variety to choose from, with booths costing £50 at the least to over thousands of pounds. Don't be intimidated by setting aside 50% of your resources on this aspect because there's always a solution regardless of how much cash you have at hand.
Electrics - 2%
Your booth will need to be powered by electricity for lighting and audiovisual features. If your space is 5 x 3 metres (standard), there should be 3 electric sockets in it.
The venue usually charges £115 for this and a £15 testing fee. Nonetheless, the number of sockets depends on your stand design.
Furniture Rental - 2%
Setting up an entertainment area in your booth is sensible, which is what the furniture is for. It's where your guests and team can be seated to get leads, give product demos and close deals. On average, you'll spend £250 renting three stools and a table.
Audiovisual Rental - 2%
This equipment allows you to engage your guests and interact with them. You'll be able to showcase and demonstrate your products with these facilities. Usually, you'll pay £285 for renting a 40" TV for 2 days, although this varies according to your needs.
Travel, Accommodation and Staffing - 7%
A small to medium-sized booth needs to be staffed by 4 people, and you have to give out a portion of your budget for their food, travel and accommodation needs and their compensation.
Pre-Show Marketing - 6%
This budget allocation is for your brand marketing and awareness efforts. These include games, competitions, prizes and other giveaways.
You have the discretion to spend as much or little on your marketing schemes, but remember that they significantly impact your exhibit goals and objectives and your ROI.
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