How do I start a workshop business?

Start a workshop organizing business by following these 10 steps: Plan your Workshop Organizing Business. Form your Workshop Organizing Business into a Legal Entity. Register your Workshop Organizing Business for Taxes. Open a Business Bank Account & Credit Card. Set up Accounting for your Workshop Organizing Business. More items... •

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Start a workshop organizing business by following these 10 steps:

Plan your Workshop Organizing Business Form your Workshop Organizing Business into a Legal Entity Register your Workshop Organizing Business for Taxes Open a Business Bank Account & Credit Card Set up Accounting for your Workshop Organizing Business Get the Necessary Permits & Licenses for your Workshop Organizing Business Get Workshop Organizing Business Insurance Define your Workshop Organizing Business Brand Create your Workshop Organizing Business Website Set up your Business Phone System There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your workshop organizing business. These steps will ensure that your new business is well planned out, registered properly and legally compliant.

Exploring your options? Check out other small business ideas.

STEP 1: Plan your business

A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:

Luckily we have done a lot of this research for you.

What are the costs involved in opening a workshop organizing business?

Initially, you can expect relatively low costs for opening this type of business. You only need a smartphone and a laptop to meet with clients, keep track of information, and communicate with various service providers. You can charge all of the services needed to host an event to the client. That means you could start your business for as little as $500 to $1,000.

What are the ongoing expenses for a workshop organizing business?

Your ongoing expenses will include maintaining your technology (e.g., your smartphone and laptop), travel costs, utilities, and any employee wages. The goal in this type of business is to be able to pay for everything to host an event upfront and then charge your clients for those costs afterward with a markup. That means you’ll eventually have high ongoing expenses, but they’ll be covered by the fees you charge your clients after each workshop.

Who is the target market?

The business world is probably the most lucrative market for workshop organizers. Businesses have the money to host workshops and pay you for your services. But, if you prefer, you could focus on a particular niche market like art workshops and target that specific market instead.

How does a workshop organizing business make money?

A workshop organizing business makes money by charging clients to organize workshops. If a corporate client wants to host a cultural diversity workshop, for example, it might pay a workshop organizing business to develop and oversee that event.

How much can you charge customers?

The amount a workshop organizing business can charge its clients can vary greatly, depending on the type of event (e.g., corporate or social). It also can vary based on the experience level of the planner and the client’s needs. Many workshop organizing businesses charge a flat fee while others may charge an hourly rate. Social workshop planning can cost $12 to $75 per hour while corporate workshop planning can cost $16 to $150 per hour.

How much profit can a workshop organizing business make?

Most workshop organizing businesses charge clients a commission based on the cost of the workshop. If a workshop costs $10,000 to host, for example, you might earn a $2,000 commission. You’ll likely only have a few clients to start with so your profits won’t be high at first. But, given time and a larger client base, you could eventually earn a significant profit from your business.

How can you make your business more profitable?

There are a few ways to make your business more profitable. First, you could try to attract more clients and/or better-paying clients. As your reputation grows, you should be able to expand your client base and possibly get higher-paying clients to boost your profits. Another way to increase profitability involves finding additional sources of income, such as offering workshop kits online. Some companies offer kits that instruct users on how to plan and host their own workshops. These kits can cost $50 to $200 or more, depending on the topic.

What will you name your business?

Choosing the right name is important and challenging. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Business Name Generator If you operate a sole proprietorship, you might want to operate under a business name other than your own name. Visit our DBA guide to learn more. When registering a business name, we recommend researching your business name by checking:

Your state's business records

Federal and state trademark records

Social media platforms

Web domain availability.

It's very important to secure your domain name before someone else does.

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STEP 2: Form a legal entity

The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your workshop organizing business is sued.

Form Your LLC

Northwest LegalZoom ($79 + State Fees)

You can form an LLC yourself and pay only the minimal state LLC costs or hire one of the Best LLC Services for a small, additional fee. Recommended: You will need to elect a registered agent for your LLC. LLC formation packages usually include a free year of registered agent services. You can choose to hire a registered agent or act as your own.

STEP 3: Register for taxes

You will need to register for a variety of state and federal taxes before you can open for business. In order to register for taxes you will need to apply for an EIN. It's really easy and free! You can acquire your EIN for free through the IRS website, via fax, or by mail. If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?. Learn how to get an EIN in our What is an EIN guide or find your existing EIN using our EIN lookup guide.

Small Business Taxes

Depending on which business structure you choose, you might have different options for how your business will be taxed. For example, some LLCs could benefit from being taxed as an S corporation (S corp).

You can learn more about small business taxes in these guides:

There are specific state taxes that might apply to your business. Learn more about state sales tax and franchise taxes in our state sales tax guides.

STEP 4: Open a business bank account & credit card

Using dedicated business banking and credit accounts is essential for personal asset protection. When your personal and business accounts are mixed, your personal assets (your home, car, and other valuables) are at risk in the event your business is sued. In business law, this is referred to as piercing your corporate veil.

Open a business bank account

Besides being a requirement when applying for business loans, opening a business bank account: Separates your personal assets from your company's assets, which is necessary for personal asset protection.

Makes accounting and tax filing easier.

Open net 30 accounts

Net 30 accounts are used to establish and build business credit as well as increase business cash flow. With a net 30 account, businesses buy goods and repay the full balance within a 30-day term. NetMany net 30 credit vendors report to the major business credit bureaus (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how businesses build business credit so they can qualify for credit cards and other lines of credit.

Get a business credit card

Getting a business credit card helps you:

Separate personal and business expenses by putting your business' expenses all in one place. Build your company's credit history, which can be useful to raise money later on. Recommended: Apply for an easy approval business credit card from Divvy and build your business credit quickly.

STEP 5: Set up business accounting

Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing.

Make LLC accounting easy with our LLC Expenses Cheat Sheet.

STEP 6: Obtain necessary permits and licenses

Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down.

State & Local Business Licensing Requirements

Certain state permits and licenses may be needed to operate an Workshop Organizing Business. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits. Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.

For information about local licenses and permits:

Check with your town, city or county clerk’s office

Get assistance from one of the local associations listed in US Small Business Associations directory of local business resources .

STEP 7: Get business insurance

Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. Business Insurance protects your company’s financial wellbeing in the event of a covered loss. There are several types of insurance policies created for different types of businesses with different risks. If you’re unsure of the types of risks that your business may face, begin with General Liability Insurance. This is the most common coverage that small businesses need, so it’s a great place to start for your business.

Learn more about General Liability Insurance.

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Another notable insurance policy that many businesses need is Workers’ Compensation Insurance. If your business will have employees, it’s a good chance that your state will require you to carry Workers' Compensation Coverage.

STEP 8: Define your brand

Your brand is what your company stands for, as well as how your business is perceived by the public. A strong brand will help your business stand out from competitors. If you aren't feeling confident about designing your small business logo, then check out our Design Guides for Beginners, we'll give you helpful tips and advice for creating the best unique logo for your business. Recommended: Get a logo using Truic's free logo Generator no email or sign up required, or use a Premium Logo Maker. If you already have a logo, you can also add it to a QR code with our Free QR Code Generator. Choose from 13 QR code types to create a code for your business cards and publications, or to help spread awareness for your new website.

How to promote & market a workshop organizing business

LinkedIn is a great place to market your services to corporate clients. You also can take advantage of other social media platforms — particularly if you want to connect with a particular niche market. Pinterest, for example, would be good for art workshop organizing. In addition, you could write blog posts about workshop organizing on your website for content marketing purposes. If you focus solely on big corporate clients, you could advertise in trade journals and similar publications as well.

How to keep customers coming back

The best way to keep customers coming back is to help them achieve their goals. If a client wants to host a workshop on computer security basics, you’ll want to ensure attendees leave the event with basic knowledge about computer security. You also need to ensure they have a relatively comfortable time at the workshop in terms of food, beverages, room temperature, etc. If clients get what they want from the workshops you organize, they’ll be more likely to come to you again. Still unsure about what kind of business you want to start? Check out the latest Small Business Trends to help inspire you.

STEP 9: Create your business website

After defining your brand and creating your logo the next step is to create a website for your business. While creating a website is an essential step, some may fear that it’s out of their reach because they don’t have any website-building experience. While this may have been a reasonable fear back in 2015, web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler.

Here are the main reasons why you shouldn’t delay building your website:

All legitimate businesses have websites - full stop. The size or industry of your business does not matter when it comes to getting your business online. - full stop. The size or industry of your business does not matter when it comes to getting your business online. Social media accounts like Facebook pages or LinkedIn business profiles are not a replacement for a business website that you own. that you own. Website builder tools like the GoDaddy Website Builder have made creating a basic website extremely simple. You don’t need to hire a web developer or designer to create a website that you can be proud of. Using our website building guides, the process will be simple and painless and shouldn’t take you any longer than 2-3 hours to complete. Recommended: Get started today using our recommended website builder or check out our review of the Best Website Builders.

Other popular website builders are: WordPress, WIX, Weebly, Squarespace, and Shopify.

STEP 10: Set up your business phone system

Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. That’s not the only benefit; it also helps you make your business more automated, gives your business legitimacy, and makes it easier for potential customers to find and contact you. There are many services available to entrepreneurs who want to set up a business phone system. We’ve reviewed the top companies and rated them based on price, features, and ease of use. Check out our review of the Best Business Phone Systems 2022 to find the best phone service for your small business. Recommended Business Phone Service: Phone.com Phone.com is our top choice for small business phone numbers because of all the features it offers for small businesses and it's fair pricing.

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