Learn about actual and potential costs
How much should I pay for Event Facilities?
What is the average price of Event Facilities?
This procurement report includes pricing information to help you purchase Event Facilities. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Event Facilities been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Event Facilities yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Event Facilities?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Event Facilities with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The market for event facilities rental is fragmented, with the top four firms collectively earning less than 30.0% of market revenue. Low market concentration is a by-product of the market's geographic distribution. Firms are spread throughout the country due to the highly localized nature of the service. As a result,... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Experience and Expertise
How long have you provided these products to your longest-tenured client?
What qualifications does your staff have and what measures do you take to keep those qualifications up to date?
What industry do you most commonly supply this product for?
To what extent will ordering multiple products from your firm allow me to save on costs?
What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?
Supply Chain Risk
Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?
Has the availability of raw materials tightened due to the coronavirus outbreak?
Over the past three years, what percentage of your revenue has been dedicated to labor?
How have fluctuations in input prices affected the prices of your products during the past three years?
How do you mitigate sudden price increases in raw materials?
When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?
How, if at all, has your supply chain been affected by import tariffs levied in 2018?
How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?
How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?
What ongoing training procedures do you provide for your staff?
Have you ever been found to be noncompliant with regulatory frameworks?
Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
When was your facility built?
What advantages do you offer in terms of rooms and services compared to your competitors?
Have you received any awards from industry associations or outside firms such as JD Power and Associates?
How have your previous guests felt about their experiences with your facility? Do you have any testimonies from them?
Have you ever double-booked a space? If so, how did you rectify the issue?
What rooms do you have available? How big are they?
How often are your facilities cleaned? Have you updated your cleaning protocols to meet CDC guidelines to mitigate the spread of coronavirus
Do you foresee any of your spaces being rented by other groups?
What furniture is included in the spaces you provide?
Do your facilities meet the technical requirements of my event?
What accommodations have you made so that your facilities meet CDC capacity limits, ventilation, and other related guidelines?
Is your company at risk of bankruptcy?
How does your company maintain profit during economic downturns?
In what ways did your business attempt to stabilize cash flow and sales during facility closures and event cancellations?
Are you experiencing fluctuations in demand as a result of the coronavirus outbreak? What measures are you taking to handle increased or reduced demand?
How will your reopening plan impact your financial health?
How does your company respond to fluctuations in the price of key inputs, such as audiovisual equipment? Do you pass rising costs onto buyers?
Do you offer catering? If so, how much does it cost?
Do you provide event planning services? If so, how much does it cost?
Do you offer audiovisual equipment rental? If so, how much does it cost?
Do you provide internet access? Does it come at an extra cost?
Do I need to pay extra for utilities such as electricity and heating?
Are there any hidden costs associated with any of the ancillary services that you provide?
What is your cancellation policy? Do your policies have specific cancellation terms in the event of pandemics and other force majeure? What are the financial burdens of each contracting party in the event of a cancellation?
How far in advance must I book your facilities?
What are the insurance requirements for your facilities?
Do you require a deposit? If so, how much is it?
Is there a timeline detailing when I must provide you with materials, such as floor plans?
What are your staffing requirements? Must I pay for a security guard to be present at the event?
How do you evaluate customer satisfaction?
How do you respond to customer issues and concerns, especially during the pandemic?
How many staff members do you have that are responsible for customer service and support?
Have you been able to rehire furloughed staff? Will your employee size be able to handle renewed demand in the market?
Will there be someone on-site during the event to assist with any problems that arise?
Amid widespread health concerns, what contingency plans are in place to mitigate the risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?
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Key elements for every RFP
What should my RFP include?
If one exists, buyers should specify their budget for the services and goods stated in the RFP.
Buyers should outline payment schedules.
Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Buyers should evaluate suppliers based on whether the facilities meet the buyer's expectations.
Buyers should evaluate suppliers based on their reputation and references from current and former clients.
Buyers should ensure that suppliers are financially stable.
For detailed selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Buyers should outline the length of the contract and cancellation policy, if applicable.
Buyers should outline the date when proposals must be submitted.
Buyers should communicate to prospective suppliers when bid awards will be posted.
Buyers should indicate the times at which equipment, such as tables and chairs, setup must be complete.
Evaluate major factors to mitigate risk
How risky is the supply chain?
Providers of event facility rentals and members of their supply chain are subject to a moderate level of risk on average. Food and beverage wholesalers face internal competition as well as the risk of supply disruptions due to weather, natural disasters and most recently the coronavirus pandemic. Electronic component manufacturers... Subscribe to learn more.