Thursday, 17 September 2015

LO4 - Budget and Finance

Junior graphic designers earn roughly between £15,000 and £19,000. However, more experienced designers and lead designers can earn from £25,000 to £50,000.
A freelance designer could earn from about £200 to £400 in a day.

Source

I would probably choose to employ a junior designer, which means for three weeks I would need to pay them between £865 and £1096.

Adobe Illustrator costs £26.68 for one month. I shouldn't need it for any longer than that because it should only take three weeks to design the graphics.

If I wanted to advertise on two billboards and two bus stops, it would cost around £200 per week for a large billboard and £300 for an ad lasting two weeks on a bus stop.

Source


In that case, if I wanted to advertise the event for two weeks in advance, it would cost £600 for both bus stop adverts and £800 for two billboards for two weeks, coming to a total cost of £1400.

Based on this website, the approximate cost for fairground rides and attractions would be around £11 000 for both days.

If an average of 7000 people under 16 and 5000 people 16 or over attended the event over both nights, the revenue would be £42 500 as it's £5 for adults and £2.50 for people aged under 16.


All the costs added together are around £13 291.68, which, if we take off the projected amount of money earned from the event, makes a final profit of around £29 208.32.

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