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In lugnet.events, Joe Meno wrote:
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In lugnet.events, Jude Beaudin wrote:
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In lugnet.events, Joe Meno wrote:
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In lugnet.events, Kelly McKiernan wrote:
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snip...
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To back up to another thing brought up, one of the things I recall Joe
talking about when he began setting up BrickFest ‘06 was that he also
wondered where the money went, and wanted his event to be more
transparent. I’m sure he’ll welcome this opportunity to provide numbers,
when he gets a chance.
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I will have a chance at the beginning of October. Some things are still
being worked out, such as taxes and fees. I already have a rough breakdown
of costs based on registration, but there is some undefined info, so I
would rather wait until I get the books from the financial staff.
Joe
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Hi Joe,
I was wondering if this ever happened? I cannot seem to find any posts to
that effect. It could probably be of use to all of those planning several
new events this year in the fact that they will have a point of reference.
Not to mention educate the community at large.
Thanks,
Jude
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This never happened because I never got complete bookkeeping from our
financial person. However, I can give you the following information off the
top of my head:
BrickFest 2006 got its space by working out a deal with the hotel. For x
number of room-nights, we got the space. If we didn’t make the goal, we would
have to pay up to a maximum of $8000 for space (this was if we didn’t make
50% of room nights) In this particular case, the convention made 150% of goal
and as a result, the hotel was VERY happy to work with us.
Registration fees went to various aspects of the convention that we were
aware of in planning. I did get a breakdown of the registration fee from the
financial person:
Out of a $60 registration fee:
Dinner: $15
AMH fee: $7.50
Name Badge: $5
Bag: $3
Program: $2
Event insurance: $4
Security: $3
Shuttle bus $2
Printing/supplies: $3
A/V Rental $6
Prizes $2
Paypal/bank fees $6
This adds up to $54.50 estimated*, which gave a small cushion going into the
event, which was good because, as we entered the convention pretty much even
or in the black, we incurred $9500 of additional fees for various things that
were used in the hotel.
The total profit that went to BrickJournal Media LLC was about $13,000. This
is in addition to the $3,000 that went to AMH Productions for use of the
BrickFest name, as determined by an agreement that was signed in December
2005. It should be noted that this profit came from public day reciepts.
Volunteers were given thank you gifts for being part of BrickFest 2006.
Some points of advice:
The best place to go for a convention of the size of a BrickFest is a hotel
with convention facilities, as the room nights can be leveraged against the
space charges. BrickFest 2006 did not have to put up any money at any time
for the space we used, and that was because we made our room goals.
The next biggest priority is event insurance - all it takes is one bad
incident, and that can sink everything. In this particular area, make sure
you make a distinction between exhibitors and vendors - this WILL affect the
final insurance cost.
Make the event as self-sufficient as possible. BrickFest 2006 was VERY
fortunate because of the groundwork that was set by the financial person and
other people who stepped in with advice when it was needed.
If you want to find a bunch of hotels fast, contact the local convention
bureau - they can find you options to work with and also promotional support.
It’s not easy to do an event, but it can be fun. And I’m one of the lucky
people to say that I had a fun time setting up an event. And if you have any
more questions, drop me a line.
Joe (who has been consideringthis as a story for BrickJournal, actually)
PS - On a side note, my job since July has been working on BrickJournal and
events. So yes, the money from BrickFest has been supporting the magazine -
Issue 5 and 6 would not have been done without it!
- This is estimated because some of the registrations were comped, such as the LEGO staff.
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I’ve had quite of a few people ping me directly regarding Joe’s post about the
registration fees for Brickfest ’06. Rather than reply personally to everyone
(and to re-direct future inquiries), I thought I should clarify my past and
current role with BrickJournal and BrickFest.
Yes, I was co-coordinator of the event, but am no longer associated with the
event.
Yes, I was Executive Editor of Brickjournal, but am no longer involved with
BrickJournal
I know many of you have questions about BrickJournal and BrickFest, but it’s
best to direct those to Joe Meno directly, since I am no longer involved with
any business venture/idea with Joe.
I wish Joe all the best.
- Jim F.
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