Workshop Profits: How Much Can You Really Make With Your Event?

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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:

Introductory WorkshopsIf 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.

Sure 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, you make a million dollars with your event, as she recently revealed on her “Authentic Selling Secrets: How to be yourself, have fun and sell a ton on stages and teleseminars!” teleseminar.Unfortunately, most of us are not Lisa Sasevich and 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 a workshop:

If you are doing a short workshop, either a 1-hour or a half-day, you obviously cannot charge the $1,000+ ticket price that many multi day boot camps charge.In fact, many workshops charge only a nominal fee or are free all-together.So if you charge $47 for your workshop and fill the room with 50 people, you still have $2,350.

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.The more exclusive the offer, the more money you can ask for it.Remember, different clients buy at different levels, so have something available at the exclusive, high price point and also a smaller package for the attendees that want what you offer, but are more of the do-it-yourself home students.

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 and a $500 package.15% of your guests will go for the lower package and the other 10% go for the higher end deal.That means you leave with an additional $11,250.Isn’t that worth a couple of hours of your time?

If you’re curious about how much money YOU could make with your workshop, schedule an Event Strategy Session with me today.As part of the program, I will create a realistic budget based upon your parameters and show you the bottom line that is really possible for you and for your workshop.

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Daphne Bousquet, CMP

Daphne Bousquet, CMP

For more strategies to make your workshops and seminars more profitable, you’ll want to pick up a copy of the free report "Three Simple Secrets To Making 10K In A Day With Small Workshops." Daphne Bousquet uses her 20+ years of event industry experience to create profitable event strategies and marketing for coaches, entrepreneurs, speakers and self employed professionals that want to grow their businesses with workshops and seminars. She is the creator of the Butts In Seats Virtual Boot Camp, a unique digital course that teaches you how to fill your events with your ideal audience.
Daphne Bousquet, CMP
Daphne Bousquet, CMP
Daphne Bousquet, CMP

Comments

  1. When you host and organize a workshop, where does taxes come into play and how do you go about figuring that out?

    • Daphne Bousquet, CMP says:

      That is a great question, Kimberly! The best answer I have for you is to check with your accountant. Every state has different laws, so I do not want to steer you in the wrong direction. (I am not an accountant, nor have I ever played one on TV!)

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