Seminar Production Business
Seminar production business has emerged as big business today. This is largely on account of the
information explosion, increased competition, emergence of new technology and new methods of doing
business. What is interesting is that the demand for seminars is not limited to corporate seminars
only. To name a few, there is a demand for personal growth seminars, stress management seminars,
communicate better seminars, and invest fruitfully seminars. There are seminars for children, seminars
for husbands and seminars for wives. In fact, it would not be wrong to say that seminars are being
organized on every possible subject - and there is an audience wiling to pay for them.
Tools of the Trade
Setting up a seminar production business is not difficult. You should have a small
team to help you. This team should look after seminar bookings, brochure production, publicity, hotel
booking, travel arrangements of speakers, participants etc. There should be one key person whose job
should be to sell seminars. Ideally, the team should be limited to two or three individuals, with each
individual capable of looking after all aspects of seminar production. You should also have your own
sound equipment, lighting equipment and promotion boards. In a way, you are like an event management
company that has made a one-time investment in the equipment needed to organize a successful seminar.
Skills and Qualifications
There are no qualifications needed to set up a seminar production business.
But you certainly need good organization skills. You should be able to visualize the needs of a seminar.
This includes publicity material, hotel bookings, travel arrangements, selling of seats etc. Finally, you
should either run the show yourself or have a key person who can conduct the seminar. This person should
be imaginative, chirpy without being offensive, and should be able to keep the audience engaged and
interested throughout the seminar.
Investment
A seminar production business needs heavy investment. You must have your own equipment to run
a seminar. You can, of course, take equipment on rent but it may not function well. There is no greater
embarrassment than to have a microphone that squeaks and screeches. Good equipment can easily put you
behind by $20,00 to $50,000. But it is an investment that will pay good returns. It will make companies
that want quality seminars to come to you. You too will find that you have an edge over others when
selling a seminar proposal.
Financing
You certainly need financing to start a seminar production business. This financing can come
from a commercial bank or from a state self-employment program. However, you will need a good business
plan to convince a financing agency. You must be clear on the kind of revenue you expect to generate in
the first couple of years, the organizations you plan to target, the competition you are likely to
encounter, and the money that you can make.
Earnings
The earnings from a seminar production business depend upon the kind of seminars you organize.
You will have to focus on those seminars for which there is a great demand like health or marketing. Then,
you will have to organize the best speakers available in the field. Finally, you will have to do a costing.
Your costs should be less than the revenue you want to generate. Ideally, this difference should be 15 to
20 per cent. This will give you good operating margins. Also, the participants will not feel cheated.
Seminar production business is a business with a good market. If you have the right organization skills
and temperament then you should set up you own seminar firm. You will not regret it.
|
