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Role of Vendors in Making or Breaking of a Corporate Event

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Role of Vendors in Making or Breaking of a Corporate Event

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When it comes to successful corporate event planning, you need a team of reliable vendors. However, as they say, one bad apple ruins the lot; the same goes with the vendors. Even one bad vendor will mar your event. A bad vendor may leave a poor image in your client’s mind about the event. It can be anything like the florist arriving with faded or wilted centerpieces, or the band you hired sounds more like a howling dog than a professional singer. It is tough to erase these images from the minds of your attendees and clients. As you research vendors, you must do your due diligence.

The type of vendors you may need to hire for an event includes:

  • Parking/transportation personnel: park and drive vehicles, valet
  • Performers: provides entertainment
  • Videographer/photographer: records and photographs preserve the event
  • Graphic artist: executes and designs event invitations or posters
  • Florist: provides floral arrangements
  • Decorator: provides décor
  • Calligrapher: handles invitations and signage
  • Bartender/caterer: serves beverages and food
  • Art director: computer imaging, handles design, etc.

 

Even if a mistake is a vendor’s fault, the mishap will reflect on you because of being the event manager. Therefore, it is something that makes researching vendors the most crucial task.

How to find a vendor

When we talk about finding the best vendors, successful event planners say the best thing is to ask the questions and listen carefully to the answers. You can ask the other clients and event planners about their experiences with the vendors. The names of the worst and best vendors will be mentioned repeatedly. You need to keep a list of both those with good and those with bad reputations. With the list in hand, you can start your research on the vendors. You should record the following information:

  • Vendor name, contact information along with the address
  • Area of service
  • Prices
  • Lead times required
  • Payment policy
  • Refund policy
  • Specialty services/items
  • Insurance coverage
  • Types of permits and licenses held

Effectiveness of vendor’s file

The vendor file is very crucial because it can help to save you hours of research time down the road. With all the information at your fingertips, you will be able to conduct your vendor searches quite effectively. Of course, it would help if you kept building the file with each new event.

Before you hire a vendor for the first time, you should find out all you can about the company’s history. It would help if you asked for references as well. Vendor proposals must include the following elements:

  • Complete service description
  • Description of equipment vendor will provide
  • List of additional services by vendor
  • Description of payment and costs terms
  • Scheduling information
  • Proof of insurance, bonding, and other risk-management practices
  • List of vendor requirements (electricity, water, etc.)

Negotiating with vendors

There are a few points on which you can negotiate when you hire vendors. It depends primarily on the growth of reputation and services. As a general rule, the more often you work with an event vendor, the more leeway you can reasonably expect them to accord you.

You can consider asking about the following:

Payment terms

Get the required deposits and also ask about the prepayment discounts.

Complimentary sample

This point is crucial either when hiring a vendor unknown to you or when you are asking for something outside the vendor’s regular service style.

Complimentary extra

When you provide a lot of business to the vendors, there are chances to persuade them to throw less or no charges. For example, a florist who delivers centerpieces and other floral arrangements for a significant event may offer a free bouquet for the guest of honor.

Conclusion

Choose the vendor who satisfies the expectations and demands of you and your client. You can get quality vendors quickly through EventsDragon.com. We will provide you with the best list of vendors. First, however, you should research them and speak to them in detail.

The above blog will help you understand how you must choose a vendor wisely and what factors may lead to breaking or making an event.

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