Financial Feasibility in Festival and Events Management

Running head: Festival and Events Management
FESTIVAL AND EVENTS MANAGEMENT
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name of the lecturer/tutor
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1
Festival and Events Management
Financial feasibility
Financial feasibility will in the form of fund collection as private will not be willing to
pay for this event and even if they pay for this event, then they will introduce the ticketing
system. This will not increase the interest of visitors that will not only decrease the quality of
event but will not fulfil the objectives. Financial feasibility is going to highlight the
importance of better accessibility of resources. In order to organise the event of food eating
competition it is important for the organisation to compute an overall budget that will include
the food stalls and the items that will be provided to the event. It is important for the
organiser to indulge the whole area of development. It is important to set a separate budget
for the decoration of stage. This is important in the sense that any private host will not be
ready to host this kind of event. Now even if the private party takes the initiative to host this
kind of event then they will induce the ticketing system.
One of the important financial feasibility is the collection of funds that will required
to host this kind of event. In order to increase the efficiency of the fund collection process,
the organisation is required to contact the government to get some kind of subsidy. Getting
the grants and financial support will minimise the financial crisis. Public donation will also
be another way to optimise the financial feasibility. Public donation in the form of requesting
the public to drop some money for the benefit of this event. It is important in the sense that in
order to increase the financial feasibility, the success rate of the event will depend entirely on
the financial condition of the money. Through the development of financial sources,
increasing the technology and skills of the volunteers will be helpful because of fact that if
the food eating competition can bring healthy foods then it will increase the number of
visitors.