An RFP or Request for Proposal is a document used by businesses when seeking the services of outside vendors. The document is created based on the services needed by the company, the costs that the company is willing to pay for them and complete details of the work required.
Businesses basically send an RFP when they want to hire various vendors for their corporate events and in return, the service providers send them a quote for thier work. Thus, if you want to hire different traders and retailers so that they can provide their goods and services for your next business event, you will need to create the perfect RFP. Although it seems easy, writing an RFP can be challenging.
Wondering how to produce the best event planning RFP to finalize a favorable deal with your chosen event vendors? Every RFP has certain features and parts that combine together to make it a comprehensive whole and should not be excluded from the RFP at any cost.
Including these sections within an RFP is the most important consideration for every company that is hoping to hire vendors for their events at favorable costs. These sections are:
Section 1: Introduction to the Event
Every RFP requires an introduction. The beginning lines of an RFP must tell the vendor exactly what services you need, and why you require them. Use the document to convey your event’s details to the retailers via the RFP, telling them why you want to hire their services to organize your next corporate event.You can also write the introductory part as an overview of the complete RFP.
The introductory portion of an RFP should include the type of event you want to organize, along with your chosen date and venue.
Section 2: Background Information about the Company
Before working with your company, every vendor will require some background information. This is the next step to the creation of the perfect event planner RFP. Add a company profile within your documented proposal, so that the vendors will be able to understand your business and its goals properly. Corporate guests can differ from industry to industry and providing the vendors with your company’s details will allow them to gauge the type of guests that might be attending the event.
Section 3: Event Details
When hiring vendors for your corporate event, provide plenty of explanation for every key detail. Misinformation will only cause problems for you later when the vendors have questions.
Event information includes the date, venue, timeline, theme, type of event and so on. All of this must be provided to the vendors before they agree to work with you so that they can easily make their decision and create an accurate budget that isn't susceptible to scope creep.
Section 4: Details About Vendor Services
Once you have explained your event in detail, you need to do the same with the services or goods you are seeking from the vendor. For instance, if you are contacting a caterer, you may need to discuss in detail the types of food you are looking for, the type of food arrangements that are to be made, the timeline of the event in particular reference to the serving of the food, and so on.
Thus, for a caterer you may be required to provide details on the menu and serving suggestions. If you are hiring a general event planner, you'll want to detail what services you need and which you already have covered. Each vendor must be provided with the details related to their specific industry, along with your reasons for hiring them.
Section 5: Your Cost Estimates and Budget
Some vendors sell their goods at fixed price, while others may offer a discounted rate for larger orders. You need to be clear about your event budget so that the vendors can make their decision accordingly. Be clear of how much you can pay, and what estimates you have in mind, asking them to provide you with their quote in return if they are interested in working with you.
Be honest about your budget, as many vendors will also be able to find cost effective solutions for your corporate event if they are aware of your financial limitations.
Before submitting an RFP to vendors, make sure that you include each of the sections mentioned above. Additionally, always read your proposals from a vendor’s perspective before sending it to them, and if you discover any gaps in your information, make the necessary changes accordingly.
For more assistance, you can come to us, as we have years of experience in the event planning business and can guide you in the right way to ensure that you are able to find the best event planners and vendors for your corporate event.