Motivational Speaker Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Motivational Speaker Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Motivational Speaker business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
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Motivational speakers are popular among schools, corporations, as well as with government agencies. These people often have interesting life stories to tell and they are able to assist people with understanding goals and how to achieve them. Most motivational speakers profit solely on their personal background as well as their exuberant personality. As such, these businesses typically are centered around the work of one specific person. The startup cost associated with a new motivational speaking business are very low. These businesses can be started for as little as $10,000. One of the most difficult aspects of developing a motivational speaking business is the development of a brand name that will allow the individual to secure speaking engagements on an ongoing basis. Speaking engagements can generate revenues anywhere from $1,000 all the way to $50,000 or more per engagement. The greater the visibility of the motivational speaker the greater the fee they can command when engaging in speaking.
A motivational speaker SWOT analysis is typically produced in conjunction with both a business plan and marketing plan. As it relates to strengths, these businesses can generate tens of thousands if not hundreds of thousands of dollars per month from motivational speaking engagements. The gross margins generated from services are extremely high and the operating expenses are very low outside of marketing.
For weaknesses, this is an extremely competitive field and motivational speakers going to need to engage in a broad-based marketing campaign in order to develop an audience and fan base. There are a number of third-party companies that can actively assist a motivational speaker with acquiring speaking engagements.
For opportunities, these center specifically around increasing the media profile of the key motivational speaker. This is really the only way that these businesses expand given the fact that the way that growth occurs is through increasing revenues through higher speaking engagement fees.
There are almost no threats associated with this business outside of a major economic recession wherein schools and corporations may cut down on discretionary expenditures like hiring a motivational speaker to present themselves to their students or employees.
A motivational speaker business plan should be developed and this should feature a three-year profit and loss statement, cash analysis, balance sheet, breakeven analysis, and business ratios page. Most importantly, a thorough analysis should be done as it relates the demographics of schools and corporations will be targeted for motivational speaking services. It should be noted that was all these businesses are started with capital provided by the owner. Not until the business is about two years old and is generating highly predictable streams revenue will a financial institution extend a working capital line of credit or similar credit facility in order to facilitate expansion of the business. A competitive analysis is typically warranted as well although there are hundreds of thousands of people engage in motivational speaking on a worldwide basis. As such, one of the key things to note within the competitive analysis is how the motivational speaker will differentiate themselves from that of other speakers within the industry.
The most important aspects of the development of this business is the motivational speaker marketing plan. It is imperative that the motivational speaker engage in a number of public relation strategies in order to boost the profile of the key speaker. This includes heavy use of social media platforms such as FaceBook, Twitter, LinkedIn, YouTube, and Instagram. By developing a large-scale social media following – a motivational speaker can pitch this as part of their overall service offering to potential schools and corporations that will hire the speaker for an engagement.
A proprietary website is absolutely necessary for the motivational speaker and this website should feature interactive content including videos of previous engagements. This website should be listed among all major search engines coupled with the use of search engine optimization as well as pay per click marketing. The marketing expenses associated with a motivational speaker business typically around 20% to 30% of all aggregate revenues generated. It should be noted that once the motivational speaker establishes a strong brand name these expenditures will decline given the fact that people be aware of the brand-name and will simply call on the motivational speaker in order to render services.
People love motivational speakers, especially younger people and people that work at large-scale organizations. As such, these businesses tend to do well in most economic climates. These can be highly lucrative opportunities wherein a highly established motivational speaker can easily generate an income of $500,000 to $1 million per year or more. This is a personal touch business, and it is imperative that the motivational speaker have the ability to connect with their audience members.