So you want to attract clients and generate profits with your own event. But do you wonder how much you can really make? If you are Lisa Sasevich, Suzanne Evans or some other big time guru, you make millions of dollars with your event. Unfortunately, while a million dollars is not out of the realm of possibilities, most of us are just not in that position (yet).
So let’s get back to the question of “How much can YOU make with your own event?” And the answer to this all important question is… you guessed it: It depends. How much money you make depends on the type of event and your irresistible offer. So let’s first examine introductory workshop profits:
If you are doing a short, introductory workshop, either a 2-hour or a half-day, you obviously cannot charge the $1,000+ ticket price that some multi day boot camps charge. In fact, many workshops charge only a nominal fee or are free all-together. (To read why I don’t recommend doing free workshops, download my free report here.) So if you charge $47 for your workshop and fill the room with 25 people, you still have $1,175.
Not bad for just a couple of hours work, but still… The real money doesn’t come into play until you craft your irresistible offer.
To explode your profits with your workshop, you need an irresistible offer to present at the end of your event. This can be a coaching package, either 1-on-1 or in a group, your professional services, a high level mastermind group or even a home study course that builds upon the information they just learned. Whenever personal access to you is involved and it includes your time, make sure you charge accordingly.
Rule Of Thumb
Generally, the longer your workshops are, the bigger your high end packages can be. That is because you are able to build more trust at longer events.
Let’s assume you have a 25% closing rate, (and I know speakers whose closing rate is much, much higher than that), and you have a $1,500 package. In this case, it means you leave with an additional $9,375. Add the $1,175 in ticket sales and you have a grand total of $10,550. Isn’t that worth a couple of hours of your time?
If you’re curious about how much profits YOU could make with your workshop, apply for an Event Strategy Breakthrough Session with me today. In our complementary session, I assess how much money you could potentially make as well as any gaps in your strategy and marketing. While Event Strategy Breakthrough Sessions are free, they are limited, and are scheduled on a first come, first serve basis to workshop hosts who qualify.