Finances are critical. You must have a budget, and you must analyze fiscal realities. The amount of money you spend on your workshop will influence the budget and registration fee.

It's difficult to know how many people will register for your workshop and how to identify the break-even point if you don't have this experience. One way to develop a preliminary budget is by asking each committee to estimate how much each part of the workshop will cost. Be sure to ask for updates from each committee as planning progresses.

As you visit potential workshop sites, ask about hotel room rates, hospitality fees, gratuities, meeting room charges, meals, and equipment fees. Ask about catering options and look at sample menus to learn about food costs. It's valuable to know these costs early in the planning because they frequently are the largest expenditures. Evaluate the option of keeping the fee lower and allowing participants to buy their own meals versus increasing the fee and providing on-site meals. This also is a good time to estimate the costs of meals, lodging, and/or transportation for non-paying participants such as speakers, administrators, and local staff.

See the guide "Managing Finances for ACE Meetings, Workshops and Other Professional Development Events" for detailed information about obtaining funding, developing a budget and managing financial operations for your event.

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