Finance at Chudfest
Several people have asked how Chudfest is financed. This is an important question especially when money is in short supply. The main financing for Chudfest is through the two advertising brochures per year, the autumn variety concert and event sales during the summer. By far the most expensive part of Chudfest is the Summer Festival. The cost of the marquee, toilets, bins, licenses, PA etc. is around £6,000. This is before any tickets are sold. So on the face of it each day must bring in £600 profit, just to pay for the infrastructure. We try to provide events at a range of costs so more people can benefit. In fact, we provide free events for children every year, with different themes and activities on offer. In addition, the fete is free. We also encourage use of the marquee and playpark for other organisations to fund raise.
Each event will have additional costs. Live performers rightly charge considerable sums for their talents. Catering can also be expensive. These additional costs are met by tickets, and food and drink sales. A significant chunk of money comes from our brochure which we jointly produce with carnival (money from adverts in their section goes straight to carnival). We also try to get sponsorship and have varied success at this. Many businesses in and around Chudleigh also provide raffle and tombola prizes. Event organisers aim to have their costs met by the event itself, but sometimes we deliberately provide events below cost. We don’t cost in the time and odds and ends that committee members and event organisers give. If it wasn’t for the 60 plus volunteers involved there would be no Chudfest!
Overall we try to break even on the 10 days. When we make a surplus, it is carried forward for future events, and to fund the hugely popular Christmas lights that adorn our streets in December.