Seminar business plan for starting your own business
Do you want to start a seminar business? A seminar business facilitates the hosting of seminars by providing services in preparing the venue, reaching out to the audience, and even helping in drafting presentations.
The business is profitable as educational institutions, organizations, and small and large companies hold seminars almost every week. What is a plus is that to step into this business you don’t need to have specified knowledge, only good management skills would suffice.
To help you in knowing how to start a seminar business, we’re providing a strategic and operational business plan for a seminar startup, Rise Along. Since you would need to make seminar production business plan to start your venture, you can benefit a lot from here.
Executive Summary
2.1 The Business
Rise Along will be a seminar business based in Denver. The business will aim at facilitating its clients in planning, preparing for, and hosting seminars. Initially, the service area would remain confined to Denver. However, with the passage of three years, holding city seminars will also be facilitated.
2.2 Management of Seminar Business
Before starting a seminar business you must make seminar business model so that you could manage the business smoothly and effectively. To help you with making business plan seminar we are providing the one of Rise Along in this seminar business plan pdf. Here you would be able to see the personnel Rise Along hired to run the day-to-day operations of the business. In case you lack the expertise in making a management plan or whole business plan, you should consider hiring business plan professional services.
2.3 Customers of Seminar Business
Usually, the customers of seminar businesses are the same for every startup. They are as follows:
- Big Companies
- Small Businesses
- Educational Institutes
- Organizations
2.4 Business Target
Defining business targets whether you are making a plan for as simple an idea as driving school business plan is an important task. It helps you remain focused on areas that directly affect your goals.
Our business targets are to meet the yearly target of rating, CSAT score, and market share. Our monetary goals for the first 3 years are shown in the following graph:
Company Summary
3.1 Company Owner
Rise Along will be owned by Chris Hawking. Chris is an MBA from the prestigious Harvard Business School. He possesses exceptional HR management skills and is known for winning various competitions in the entrepreneurship domain.
3.2 Why the seminar business is being started
Chris started the seminar business to earn money while doing a not-so-common business. He is a man who loves to remain aware and informed. Thus, by starting a seminar business, he found all he wanted on a single platform.
3.3 How the seminar business will be started
To understand how the seminar business can be started from scratch, you must read some business plan seminars. After that, you should make business plan seminar for your own startup while considering the following steps.
Step1: Understand the Legal Requirements
The first step is to study the local and country-wise legal requirements for starting a seminar business. Following that, you’ll have to work out the conditions to fulfill registration and licensing requirements.
Step2: Make Business Plan
The second step is to start making a business plan if you do not already have it. If you had drafted a business plan before the first step, then you’ll only need to incorporate the conditions.
Step3: Acquire the Resources
Next, you have to start amassing all sorts of resources to run your business. This may include renting a space to run your startup, purchasing the equipment to host a seminar, and recruiting the staff to assist with the business functions.
Step4: Market and Be on the Web
The next step is to reach out to your target customers by exploiting all the available media and online platforms.
Step5: Establish Your Brand
Last, you have to efficiently manage day-to-day operations to establish the name of your business. This may include monitoring the operations yourself so that business goals are attained and investment is efficiently used.
| Start-up Expenses | |
| Legal | $151,800 |
| Consultants | $0 |
| Insurance | $21,900 |
| Rent | $31,300 |
| Research and Development | $10,000 |
| Expensed Equipment | $51,900 |
| Signs | $3,400 |
| TOTAL START-UP EXPENSES | $270,300 |
| Start-up Assets | $211,900 |
| Cash Required | $181,000 |
| Start-up Inventory | $35,100 |
| Other Current Assets | $219,000 |
| Long-term Assets | $211,300 |
| TOTAL ASSETS | $858,300 |
| Total Requirements | $1,128,600 |
| START-UP FUNDING | |
| Start-up Expenses to Fund | $270,300 |
| Start-up Assets to Fund | $858,300 |
| TOTAL FUNDING REQUIRED | $1,128,600 |
| Assets | |
| Non-cash Assets from Start-up | $1,105,300 |
| Cash Requirements from Start-up | $119,200 |
| Additional Cash Raised | $50,000 |
| Cash Balance on Starting Date | $31,900 |
| TOTAL ASSETS | $1,306,400 |
| Liabilities and Capital | |
| Liabilities | $18,920 |
| Current Borrowing | $0 |
| Long-term Liabilities | $0 |
| Accounts Payable (Outstanding Bills) | $49,500 |
| Other Current Liabilities (interest-free) | $0 |
| TOTAL LIABILITIES | $68,420 |
| Capital | |
| Planned Investment | $1,128,600 |
| Investor 1 | $0 |
| Investor 2 | $0 |
| Other | $0 |
| Additional Investment Requirement | $0 |
| TOTAL PLANNED INVESTMENT | $1,128,600 |
| Loss at Start-up (Start-up Expenses) | $109,380 |
| TOTAL CAPITAL | $1,237,980 |
| TOTAL CAPITAL AND LIABILITIES | $1,306,400 |
| Total Funding | $1,128,600 |
Services of seminar business
You must have a clear knowledge of the services you will be providing to your customers. Some of the services for this business might overlap with business plan for educational services and education consultant business plan. Therefore, it is essential to include your services and the expected sales against each service in your seminar business plan to have a clear idea of what you will be doing. In this seminar planning template on how to start seminar business, we are listing the services of Rise Along.
- Hosting Seminars
Our major service will be making all arrangements for hosting seminars. This will include devising steps to planning a seminar, making a checklist for hosting a seminar, and realizing the plan to host a successful seminar.
- Leasing the Equipment
We will also be leasing the equipment required in seminars to our customers if they want to do the rest of the planning themselves.
- Providing Educational Support
Since our seminars will mostly be related to educational activities, We will offer professional support in designing slideshows and other tasks.
- Catering
We will also arrange for the catering and food serving as per the requirements of our customers.
Marketing Analysis of seminar business
Before making a business plan seminar bc you must thoroughly study about how to organize a successful seminar. If you are adding services like educational support and consultation, you’ll also need to analyze consulting seminars business plan with a special focus on how to create a seminar presentation.
Note
Afterward, you would need to carry out a marketing analysis. It includes recognizing the groups of your target customers, studying market trends, and pricing and other policies of others in the market.
To have complete knowledge of your target market, you are also advised to study business plan for a preschool and tutoring business plan. In this blog on how to start a seminar production business, we’re providing the marketing analysis of Rise Along, done specifically for seminar businesses.
5.1 Market Trends
The market trends for seminar businesses are favorable. Though webinars are increasingly becoming a preferred medium for small businesses, big corporates and government and non-government organizations still prefer to conduct offline seminars. According to IBISWorld, presently in the U.S., only conference planning businesses alone are holding a giant market size of $15 billion. When additional services are added, the business is expected to thrive more.
5.2 Marketing Segmentation
In this blog on how to set up a seminar business, we are providing marketing segmentation done for Rise Along. If you are specifically looking for how to conduct a seminar for students, you should also visit business plan English language school pdf.
UK Start-Up Visa Business Plan
5.2.1 Big Companies
Corporates and already-established companies are expected to avail of all of our services. To capture their attention and maintain long-term contact, we will reach out to them via in-person meetups by our sales executive.
5.2.2 Small Businesses
New startups and small businesses are also expected to contact us for holding conferences, and business seminars, as well as for professional guidance on creating content for seminars.
5.2.3 Educational Institutes
Educational institutions of both private and public nature are also likely to benefit from our services.
5.2.4 Organizations
Government and non-governmental organizations are also expected to hire us for holding seminars on educational and awareness programs.
| Market Analysis | |||||||
| Potential Customers | Growth | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 | CAGR |
| Big Companies | 34% | 42,190 | 50,628 | 60,754 | 72,904 | 87,485 | 10.00% |
| Small Businesses | 27% | 39,140 | 46,968 | 56,362 | 67,634 | 81,161 | 10.00% |
| Educational Institutes | 22% | 27,220 | 32,664 | 39,197 | 47,036 | 56,443 | 10.00% |
| Organizations | 17% | 19,410 | 23,292 | 27,950 | 33,540 | 40,249 | 11.00% |
| Total | 100% | 127,960 | 153,552 | 184,262 | 221,115 | 265,338 | 10% |
5.3 Business Target
- Get hold of 20% market share by the end of the first 3 years
- Achieve a CSAT score above 90 and maintain it
- Maintain an average rating of 4.8 to 5 out of 5 on our online platforms
5.4 Product Pricing
Our prices are a little higher than those of our competitors. However, we still expect to get more customers than them due to our competitive advantages and highly targeting sales strategy.
Marketing Strategy of seminar business
For starting a seminar business and running it successfully, it is essential to reach out to a maximum no. of customers. In this seminar business plan pdf on how to start a seminar business we are providing details of the market strategy plan that Rise Along followed to gain a maximum customer base.
6.1 Competitive Analysis
- Our packages are highly customizable. Our clients can choose or drop any of our services as per their needs.
- Attaining customer satisfaction is our topmost priority and a documented business goal. We have certain policies that are beneficial to customers even at the cost of the company’s profit.
- Our sales strategy is carefully outlined to help us get more and more customers.
6.2 Sales Strategy
- We will offer a 40% discount to all the big companies who come into a long-term agreement with us to always hire us for their seminars.
- We will offer a 20% discount on catering services to customers who avail of any of the other 3 services.
- We will provide a 60% discount on educational support services to the customers who hire us for holding seminars for the first three months of our launch.
- We will advertise our startup via social media, print media, and in-person meetups with HR Managers of companies.
6.3 Sales Monthly
6.4 Sales Yearly
6.5 Sales Forecast
| Sales Forecast | |||
| Unit Sales | Year 1 | Year 2 | Year 3 |
| Hosting Seminars | 675 | 716 | 758 |
| Equipment Leasing | 750 | 795 | 843 |
| Educational Support | 825 | 875 | 927 |
| Catering | 700 | 742 | 787 |
| TOTAL UNIT SALES | 2,950 | 3,127 | 3,315 |
| Unit Prices | Year 1 | Year 2 | Year 3 |
| Hosting Seminars | $650.00 | $754.00 | $874.64 |
| Equipment Leasing | $550.00 | $638.00 | $740.08 |
| Educational Support | $440.00 | $510.40 | $592.06 |
| Catering | $725.00 | $841.00 | $975.56 |
| Sales | |||
| Hosting Seminars | $438,750.00 | $539,487.00 | $663,353.22 |
| Equipment Leasing | $412,500.00 | $507,210.00 | $623,665.42 |
| Educational Support | $363,000.00 | $446,344.80 | $548,825.57 |
| Catering | $507,500.00 | $624,022.00 | $767,297.45 |
| TOTAL SALES | $1,721,750.00 | $2,117,063.80 | $2,603,141.65 |
| Direct Unit Costs | Year 1 | Year 2 | Year 3 |
| Hosting Seminars | $150.00 | $165.00 | $173.25 |
| Equipment Leasing | $115.00 | $126.50 | $132.83 |
| Educational Support | $100.00 | $110.00 | $115.50 |
| Catering | $170.00 | $187.00 | $196.35 |
| Direct Cost of Sales | |||
| Hosting Seminars | $101,250.00 | $118,057.50 | $131,398.00 |
| Equipment Leasing | $86,250.00 | $100,567.50 | $111,931.63 |
| Educational Support | $82,500.00 | $96,195.00 | $107,065.04 |
| Catering | $119,000.00 | $138,754.00 | $154,433.20 |
| Subtotal Direct Cost of Sales | $389,000.00 | $453,574.00 | $504,827.86 |
Personnel plan of seminar business
If you are wary of how to plan a seminar as a business you must realize it can only be done by having a talented, hard-working, and efficient workforce. In this free business plan seminar we’re providing the list of employees of Rise Along. We have also provided the expected average salaries in this seminar business plan so you could have an idea of the cost of retaining a skilled workforce.
7.1 Company Staff
Chris will be the CEO himself, the people he will hire are:
- 1 Operation Manager
- 1 Sales Manager
- 1 Accountant
- 2 IT Experts
- 1 Social Media Manager
- 1 Sales Executive
- 4 Assistants
- 2 Drivers
7.2 Average Salary of Employees
| Personnel Plan | |||
| Year 1 | Year 2 | Year 3 | |
| Operation Manager | $32,400 | $35,640 | $39,204 |
| Sales Manager | $23,550 | $25,905 | $28,496 |
| Accountant | $23,550 | $25,905 | $28,496 |
| IT Experts | $46,500 | $51,150 | $56,265 |
| Social Media Manager | $23,550 | $25,905 | $28,496 |
| Sales Executive | $23,550 | $25,905 | $28,496 |
| Assistants | $102,500 | $112,750 | $124,025 |
| Drivers | $46,500 | $51,150 | $56,265 |
| Total Salaries | $322,100 | $354,310 | $389,741 |
Financial Plan of seminar business
To assess the financial cost of starting a seminar business, you are recommended to first study some business plan writing seminars. After that, you should hire a professional, and provide him with knowledge of all the resources and constraints you have for getting a 100% accurate financial plan.
To give you an idea of what the financial section of consulting seminars business plan looks like, we are providing the one of Rise Along here. The profit and loss margins, balance sheet and projected cash flows for the first three years of the launch are provided to give you a clear and in-depth understanding.
8.1 Important Assumptions
| General Assumptions | |||
| Year 1 | Year 2 | Year 3 | |
| Plan Month | 1 | 2 | 3 |
| Current Interest Rate | 8.12% | 8.20% | 8.26% |
| Long-term Interest Rate | 8.40% | 8.44% | 8.47% |
| Tax Rate | 24.03% | 24.21% | 24.60% |
| Other | 0 | 0 | 0 |
8.2 Break-even Analysis
| Break-Even Analysis | |
| Monthly Units Break-even | 5340 |
| Monthly Revenue Break-even | $132,500 |
| Assumptions: | |
| Average Per-Unit Revenue | $231.00 |
| Average Per-Unit Variable Cost | $0.62 |
| Estimated Monthly Fixed Cost | $163,800 |
8.3 Projected Profit and Loss
| Pro Forma Profit And Loss | |||
| Year 1 | Year 2 | Year 3 | |
| Sales | $1,721,750 | $2,117,064 | $2,603,142 |
| Direct Cost of Sales | $389,000 | $453,574 | $504,828 |
| Other | $0 | $0 | $0 |
| TOTAL COST OF SALES | $389,000 | $453,574 | $504,828 |
| Gross Margin | $1,332,750 | $1,663,490 | $2,098,314 |
| Gross Margin % | 77.41% | 78.58% | 80.61% |
| Expenses | |||
| Payroll | $322,100 | $354,310 | $389,741 |
| Sales and Marketing and Other Expenses | $145,000 | $148,000 | $156,000 |
| Depreciation | $2,300 | $2,350 | $2,500 |
| Leased Equipment | $0 | $0 | $0 |
| Utilities | $2,900 | $3,000 | $3,100 |
| Insurance | $2,100 | $2,100 | $2,100 |
| Rent | $2,900 | $3,000 | $3,200 |
| Payroll Taxes | $24,000 | $25,000 | $27,000 |
| Other | $0 | $0 | $0 |
| Total Operating Expenses | $501,300 | $537,760 | $583,641 |
| Profit Before Interest and Taxes | $831,450 | $1,125,730 | $1,514,673 |
| EBITDA | $831,450 | $1,125,730 | $1,514,673 |
| Interest Expense | $0 | $0 | $0 |
| Taxes Incurred | $166,290 | $225,146 | $302,935 |
| Net Profit | $665,160 | $900,584 | $1,211,738 |
| Net Profit/Sales | 38.63% | 42.54% | 46.55% |
8.3.1 Profit Monthly
8.3.2 Profit Yearly
8.3.3 Gross Margin Monthly
8.3.4 Gross Margin Yearly
8.3.4 Gross Margin Yearly
| Pro Forma Cash Flow | |||
| Cash Received | Year 1 | Year 2 | Year 3 |
| Cash from Operations | |||
| Cash Sales | $51,000 | $55,080 | $59,486 |
| Cash from Receivables | $22,000 | $23,760 | $25,661 |
| SUBTOTAL CASH FROM OPERATIONS | $73,000 | $79,570 | $85,936 |
| Additional Cash Received | |||
| Sales Tax, VAT, HST/GST Received | $0 | $0 | $0 |
| New Current Borrowing | $0 | $0 | $0 |
| New Other Liabilities (interest-free) | $0 | $0 | $0 |
| New Long-term Liabilities | $0 | $0 | $0 |
| Sales of Other Current Assets | $0 | $0 | $0 |
| Sales of Long-term Assets | $0 | $0 | $0 |
| New Investment Received | $0 | $0 | $0 |
| SUBTOTAL CASH RECEIVED | $74,000 | $79,000 | $85,000 |
| Expenditures | Year 1 | Year 2 | Year 3 |
| Expenditures from Operations | |||
| Cash Spending | $42,000 | $42,000 | $45,000 |
| Bill Payments | $27,000 | $28,000 | $31,000 |
| SUBTOTAL SPENT ON OPERATIONS | $69,000 | $70,000 | $76,000 |
| Additional Cash Spent | |||
| Sales Tax, VAT, HST/GST Paid Out | $0 | $0 | $0 |
| Principal Repayment of Current Borrowing | $0 | $0 | $0 |
| Other Liabilities Principal Repayment | $0 | $0 | $0 |
| Long-term Liabilities Principal Repayment | $0 | $0 | $0 |
| Purchase Other Current Assets | $0 | $0 | $0 |
| Purchase Long-term Assets | $0 | $0 | $0 |
| Dividends | $0 | $0 | $0 |
| SUBTOTAL CASH SPENT | $69,000 | $74,520 | $80,482 |
| Net Cash Flow | $21,000 | $23,000 | $25,000 |
| Cash Balance | $27,000 | $30,000 | $33,000 |
8.5 Projected Balance Sheet
| Pro Forma Balance Sheet | |||
| Assets | Year 1 | Year 2 | Year 3 |
| Current Assets | |||
| Cash | $275,000 | $308,000 | $338,800 |
| Accounts Receivable | $24,000 | $26,880 | $30,213 |
| Inventory | $4,300 | $4,816 | $4,900 |
| Other Current Assets | $1,000 | $1,000 | $1,000 |
| TOTAL CURRENT ASSETS | $282,000 | $315,840 | $355,004 |
| Long-term Assets | |||
| Long-term Assets | $10,000 | $10,000 | $10,000 |
| Accumulated Depreciation | $19,400 | $21,728 | $24,444 |
| TOTAL LONG-TERM ASSETS | $24,400 | $27,328 | $30,744 |
| TOTAL ASSETS | $294,000 | $329,280 | $370,440 |
| Liabilities and Capital | Year 4 | Year 5 | Year 6 |
| Current Liabilities | |||
| Accounts Payable | $18,700 | $20,944 | $23,541 |
| Current Borrowing | $0 | $0 | $0 |
| Other Current Liabilities | $0 | $0 | $0 |
| SUBTOTAL CURRENT LIABILITIES | $19,000 | $21,280 | $23,919 |
| Long-term Liabilities | $0 | $0 | $0 |
| TOTAL LIABILITIES | $15,000 | $16,800 | $18,883 |
| Paid-in Capital | $30,000 | $30,000 | $31,000 |
| Retained Earnings | $53,000 | $57,770 | $63,547 |
| Earnings | $193,400 | $210,806 | $231,887 |
| TOTAL CAPITAL | $285,000 | $310,650 | $341,715 |
| TOTAL LIABILITIES AND CAPITAL | $300,000 | $329,280 | $370,440 |
| Net Worth | $293,400 | $319,806 | $351,787 |
8.6 Business Ratios
| Ratio Analysis | ||||
| Year 1 | Year 2 | Year 3 | INDUSTRY PROFILE | |
| Sales Growth | 7.25% | 8.03% | 8.90% | 3.00% |
| Percent of Total Assets | ||||
| Accounts Receivable | 9.21% | 10.20% | 11.31% | 9.80% |
| Inventory | 5.39% | 5.97% | 6.62% | 9.90% |
| Other Current Assets | 2.11% | 2.34% | 2.59% | 2.40% |
| Total Current Assets | 149.80% | 151.00% | 152.00% | 158.00% |
| Long-term Assets | 11.55% | 11.60% | 11.64% | 12.00% |
| TOTAL ASSETS | 100.00% | 100.00% | 100.00% | 100.00% |
| Current Liabilities | 4.90% | 4.94% | 4.98% | 4.34% |
| Long-term Liabilities | 0.00% | 0.00% | 0.00% | 0.00% |
| Total Liabilities | 7.59% | 7.65% | 7.72% | 7.38% |
| NET WORTH | 100.45% | 101.25% | 102.19% | 110.00% |
| Percent of Sales | ||||
| Sales | 100.00% | 100.00% | 100.00% | 100.00% |
| Gross Margin | 94.60% | 97.15% | 99.87% | 99.00% |
| Selling, General & Administrative Expenses | 93.56% | 96.09% | 98.78% | 97.80% |
| Advertising Expenses | 1.52% | 1.56% | 1.60% | 1.40% |
| Profit Before Interest and Taxes | 41.50% | 42.62% | 43.81% | 33.90% |
| Main Ratios | ||||
| Current | 34 | 35 | 36 | 32 |
| Quick | 33 | 33.8 | 34.645 | 33 |
| Total Debt to Total Assets | 0.18% | 0.18% | 0.17% | 0.40% |
| Pre-tax Return on Net Worth | 74.08% | 74.89% | 75.00% | 75.00% |
| Pre-tax Return on Assets | 96.30% | 101.12% | 106.17% | 111.30% |
| Additional Ratios | Year 1 | Year 2 | Year 3 | |
| Net Profit Margin | 33.56% | 34.60% | 35.67% | N.A. |
| Return on Equity | 55.80% | 57.53% | 59.31% | N.A. |
| Activity Ratios | ||||
| Accounts Receivable Turnover | 7.7 | 7.8 | 7.8 | N.A. |
| Collection Days | 100 | 100 | 100 | N.A. |
| Inventory Turnover | 32.4 | 34.02 | 35 | N.A. |
| Accounts Payable Turnover | 15.6 | 16 | 16.3 | N.A. |
| Payment Days | 27 | 27 | 27 | N.A. |
| Total Asset Turnover | 2.5 | 2.5 | 2.6 | N.A. |
| Debt Ratios | ||||
| Debt to Net Worth | -0.04 | -0.03 | -0.04 | N.A. |
| Current Liab. to Liab. | 1 | 1 | 1 | N.A. |
| Liquidity Ratios | ||||
| Net Working Capital | $244,000 | $257,664 | $272,093 | N.A. |
| Interest Coverage | 0 | 0 | 0 | N.A. |
| Additional Ratios | ||||
| Assets to Sales | 0.85 | 0.87 | 0.89 | N.A. |
| Current Debt/Total Assets | 1% | 0% | 0% | N.A. |
| Acid Test | 29 | 29.12 | 29.16 | N.A. |
| Sales/Net Worth | 2.1 | 2.2 | 2.2 | N.A. |
| Dividend Payout | 0 | 0 | 0 | N.A. |
FAQ
- How do I start a seminar business?
For starting a seminar business you should first research how to conduct seminar for students. Then make a business plan and execute it.
- What are the 7 types of a business plan?
The 7 types of business plans are:
- Start-up
- Strategic
- Internal
- Operations
- Feasibility
- Growth plans
- What-if plans
- What are the 5 categories of a business plan?
The 5 categories of business plans are: startup plan, standard plan, one-page plan, what-if plan, and expansion plan.
- What are the 10 steps to creating a good business plan?
In this business plan on how to plan a business seminar, we have written all these 10 steps in detail. These steps were expanded for starting a seminar business, but they can be adjusted to any other business of the relevant domain.