I run festivals. The level of incompetence here is breathtaking.
First thing you do (okay, second thing, right after “come up with an idea”) is make a list of everything you need, and see what that costs.
Then you make a list of every way the event will generate income (tickets, vending, merch, etc.), and use your costs to figure out how much you need to charge for each of those things.
This is not rocket surgery.