Planning a Profitable Workshop Using the Workshop Budget Planner

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Planning a Profitable WorkshopUsing the Workshop
Budget Planner

• SWCS Chapter Development Workshop
• July 22. 2006
• By Steve Kadas

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Planning for a Profitable WorkshopOverview

• Planning for Profit
• Initial Planning
• Expenses
• Incomes
• Putting It All Together
• Final Report

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Planning for Profit

• Why plan for profit?
• You need the money
• To build the chapter
• Your workshop is valuable
• You earned it

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• Worksheet Overview

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Initial Planning

• Step 1
• Early Registration Numbers
• These are paying registrants only. If you are
  not charging speakers, guests or workers, do not
  include them here. They will be covered in
  fixed expenses.
• Step 2
• Early Registration Fee
• This is what you plan to charge for early
  registration. A reduced early fee encourages
  lots of registration well before the workshop.
  This get cash flow started early and helps with
  meal planning.

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Initial Planning

• Step 3
• Late Registration Numbers
• This is what you expect after early registration
  ends plus, what you will get at the door. Late
  registration is usually about 20 to 35 of your
  total registration.
• Step 4
• Late Registration Fee
• This fee should be 20 to 50 higher than the
  early fee to motivate early registration.

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Expenses

• There are two kinds of expenses, fixed and
  variable
• Variable expenses are those that change with
  number of paying registrants. Examples meals
  and refreshments.
• Fixed expenses are those that stay fixed no
  matter how many people attend. Examples are
  meeting room fees, advertisement, speaker fees.

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Expenses

• Step 5
• Variable Expenses
• Enter the unit cost into the planned unit
  expense column.
• The planned units column is automatically
  filled-in.
• Step 6
• Fixed Expenses
• Enter the number units needed in the planned
  unitcolumn. Example, enter the number of flyers
  here.
• Next, in the planned unit cost column, enter the
  cost per unit.
• Example This is where the cost for each flyer
  printed goes.

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Income

• The types of income are
• Variable income from registration
• Sponsorships
• Commercial exhibitors
• Grants.

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Incomes

• Step 7
• The variable income is automatically calculated
  for you. It is based on the numbers and amounts
  entered in top section. Your registration fees
  are likely to be the only kind of variable
  expenses you will encounter.

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Incomes

• Step 8
• Enter the grant name and the amount in the
  planned unit income. Grants can be obtained
  from organizations wanting to promote training
  and education activities.
• Step 9
• Enter the sponsors name and donation. Many
  organizations will donate funds so that they can
  gain recognition.
• Examples Government agencies, organizations
  and, local banks and businesses.
• Step 10
• Enter the exhibitor name and fee. Commercial
  Exhibitors are usually business that want to take
  advantage of the workshop buy making contact with
  new customers.

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Putting It All Together

• The top section shows of all your expenses,
  income and profit.
• The breakeven point is a powerful tool that will
  help you make decisions for success.
• Though the income from grants, sponsors and
  exhibitors dont effect the breakeven point, it
  is figured into your profit.
• Step 11
• The information can now be modified to get the
  results you want and need. Play around with
  different registration fees and numbers to get
  different results. Add or subtract expenses
  until you get your desired profit.

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Final Report

• Step 12
• The Actual column is where you record your
  actual income and expenses.
• As registration payments are received simply
  type in the number received and the worksheet
  will track the amounts.
• With expense entered you can follow how close
  you are to your budget and adjust as needed.
• At the end of your workshop you will have an
  overview and final report.