Event Accounts Assignment

The stock for the bar had already been bought.
33p for each beer previously
£15.99 for the wine, which consisted of 3 bottles,
at the corner shop it £6.99 for each bottle.

21/05/13

10 Full Price Tickets @ £6 = £60
17 Advanced Tickets @ £5 = £85
13 Guest List (Free)
33 Beer/Wine @ £1.50 = £49.50

Total amount = £194.50

- £100 to Band - (60/40)

- £7 for Expenses (Ice & Fruit)

Total Profit = £87.50

22/05/13

Free Show = No profit for tickets.
Beer/Wine = 14 for £1 = £14 previous beer/wine left over was used.

No Expenses

Total Profit = £14

23/05/13

36 Full Price Tickets @ £6 = £216
7 Advanced Tickets @ £5 = £35
8 Guest List Free
2 Students Free
36 Beer/Wine @ £1.50 = £54

Juice - 9 @ £1 = £9

Total amount = £314 

Band Fees - £160 (£80 per band)
Extra Bar Stock -£64.49 it was more expensive because the beer that was bought wasn't as cheap as before, because it was bought from the corner shop.

Total Profit = £89.51 


21st was the first time we had to do something like that, the full price tickets turned out to bring in less than the tickets that were sold online, which proved that buying tickets online can really work well and can bring profit and it also shows what the audience would prefer to buy it online as it saves time and also in case of tickets selling out on the day, this also helps gives us an estimate of how many drinks will be bought and how much we can save or earn through out that night. The bands do get paid so with those deductions it brings the total profit to less than £100. 

On the 22nd it was a free show for students so there was no profit for tickets and they pulled the price down for the beer/wine, so the price was lower and gone to £1. Total Profit was less than £20 

23rd had a change as the people that bought their tickets came at the door to buy tickets where as the tickets on the 21st most of them were bought on line, the differences was that only 7 people bought tickets in advance on the 23rd on the 21st there was 17 buyers that bought their tickets in advance. But there was 36 buyers who bought their tickets at the door.

The bar was very busy and it was very useful, it helped to bring in some or even most of the profit other than the tickets that were bought on each day. This gave the audience something to do during the interval and so they bought more beverages during that time, it was a great success.

The bands that performed deserved their pay because they did very well but because the music was not exactly what young people at our college would listen to as it was rock and not very popular, this made it understandable as to why only so few tickets were sold. I also can remember that the audience were at a older age and was expected.  

When it comes to help promoting i guess it could work if you do the right things which is, promote it on face book, twitter, blogs and word of mouth and also at other Gigs. By doing this it helps to get a bigger a fan base and helps your salary if they turn up to watch your Gigs.  

Something that i have learnt though is that, if people can buy tickets online at a lower price than it would be at the door, people would most likely do that, than turning up and not knowing if your guaranteed a place or not. Also if you have a bargain when buying tickets people would really enjoy that as well. The profit was lower than the total income simply because of having to pay out a certain percentage to the players or the bands.