Using Conferences and Workshops to Make Money

Conferences and workshops can be a lucrative and productive way to supplement your business or organization's regular sales and services. They have the benefit of serving several purposes--in addition to a revenue source, conferences and workshops can also be a major marketing and public relations tool, and help to position your business as an "expert" in the field. But, how do you know if conferences and workshops are the way to go for your company?

There is no denying that the planning and implementation of conferences and workshops (and other events) is labor intensive. It also takes some capital in terms of materials/supplies and to cover other expenses in order to put on an event that is successful. Having the necessary staff and capital to cover things while the conference or workshop is in the planning stages is an important element to deciding whether or not your business is in the position to pull off an event.

The next thing to consider is whether or not you can offer an event that is unique and likely to generate interest and attendance. Of course, you'll be focusing on something that fits with your business or organization--but you'll also want to make sure you're not duplicating something that already exists (unless you can do it much better). It will take some research to find out what is already out there in your field and where the need may be.

Money can be made on conferences and workshops, but you'll have to make sure you charge enough to cover your expenses--including space rental, food, labor, materials, advertising, etc. The most successful events offer a chance for other vendors to "purchase" table space and display items and give participants the opportunity to make merchandise purchases (educational materials, vendor sales, etc.) As the organizer of the event, you can charge admission, for space rental, materials and sales, and you can also create a program or publication in which you sell advertising. Some conferences also offer vendors the opportunity to include flyers and information in the registration packets, also for a fee.