1. Planning a Profitable Workshop Using the Workshop Budget Planner SWCS Chapter Development Workshop July 22. 2006 By Steve Kadas

2. Planning for a Profitable Workshop Overview Planning for Profit Initial Planning Expenses Incomes Putting It All Together Final Report

3. Planning for Profit Why plan for profit? You need the money To build the chapter Your workshop is valuable You earned it

4. Worksheet Overview

5. 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.

6. 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.

7. Expenses There are two kinds of expenses, fixed and variable: 1.Variable expenses are those that change with number of paying registrants. Examples: meals and refreshments. 2.Fixed expenses are those that stay fixed no matter how many people attend. Examples are: meeting room fees, advertisement, speaker fees.

8. 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 unit”column. 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.

9. Income The types of income are: Variable income from registration Sponsorships Commercial exhibitors Grants.

10. 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.

11. 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.

12. 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 don’t 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.

13. 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.