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Carnival Event Planning Simulation

Satisfactory Essays

As mentioned, sponsorship from local vendors and donors will contribute a great deal for this particular event. An average 5K run is said to coast between $1,000-$3,000. CFU can set an expected budget of $2,000 for its first year. These fixed estimated costs should cover location, DJ, or other materials needed for the organizations. Donors can potentially donate other contributions such as food and tents. Each participant will be required to fundraise or $60.00, in exchange for an opportunity to participate in the walk and a T-Shirt which, each unit price of a T-shirt is likely to estimate to be $5.00. Within the first year the organization should set a goal to have about 175 participants or donors enter the race, this will generate about $7,625.00 …show more content…

Once an assemble committee has been established and a list of carnival vendors have been chosen, a budget should be set. Within the first year it is expected that the organization work on a tighter daily budget of about $5,000.00. This budget can be funded by potential and current sponsors. The budgeted amount has room to book location, and inflatable games. Ticket prices for entrance and rides can be set for $15.00 a child and $20.00 an adult, within the first year the organization should aim to have nearly 500 adults and 400 children for a 3-day weekend. This will allow the organization to profit of about $33,000.00 its first year just for ticket prices. In addition to this food vendors from the community can rent tents for the day for about $800.00 per day, the organization should set a goal to rent about 15 tents for the 3-day weekend, which will have them profit at about $36,000.00. In total for its 1st year the organization can profit about $69,000.00. If done semi-annual within the first year the organization can raise about …show more content…

The organization should also increase its average daily budget for mechanical and inflatable carnival rides to $10,000.00. Ticket prices should remain the same, which will allow the organization to a $49,500.00 profit in just ticket sales for a 3-day weekend. The organization should also aim to increase tent rentals to food vendors for $800.00 and aim to have about 20 vendors, which will have them profit for $48,000.00 for a 3-day weekend. This will lead the organization to fundraise about $97,500.00 for its second year, if done semi-annually within this time frame it can profit of about

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