Hello again its Nick the Rookie trainer my questions is advise on the following question. below 'How much do you need to earn and what are you going to charge to ensure that you achieve your financial targets?' When i was working in IT i used to come home with around £3500 a month. So lets say to begin with i need to earn this figure as a minimum how do i work out charges when i don't know how much training i am going to get in the month? for instance i could run my workshops and charge £100 a delegate and 10 delegates turn up this means that the work shop has to run a minimum of 4 times a month. Maybe i have just answered my own question maybe it just a matter of getting the sale in or increasing the cost of my workshops. it would be good to know what you proffesionals think
4 Responses
Peter Mayes Article Answered This Question to Some Extent
https://www.trainingzone.co.uk/item/189849
Questions Questions Questions
Hi Nick
The company I work for sources training on behalf of organisations.
When we use trainers for onsites then I find charging a day rate is better than a per delegate charge as it guarantees you a fixed fee regardless of the number of delegates who turn up and puts the emphasis on the client regarding fixing numbers.
However if you are running public scheduled workshops then a per delegate rate is a must.
Please feel free to drop me an email at blakeh@nowtraining.co.uk with more information about yourself and what training you are planning to do.
Regards
Blake
Costs
Hi
Not wishing to state the obvious but you seem to be ignoring the other side of the equation – i.e. what the clients are willing to pay. My advice would be get to know the market. The IT training market is well established with a whole range of providers from core to specialist systems. I would also establish the market rate for your competitors, and look at the current reductions/incentives which companies are offering to attract business. Not knowing the type of training you are offfering I cannot comment on the current going rate, however as a start up provider unless you have inital contracts it is likley that you will be having to target a lot of buyers cold, and to get attention your offering needs to be attractive.
As a purchaser I am inundated with offers every day from training suppliers. Would your suggested pricing of £100 per delegate per course get my attention? – no not when other well known and established providers charge from £250 per day (total not per delegate) for in company programmes. This level of pricing is comparable in cost to using internal SME’s which is another current option for ensuring core skills development continues.
Whilst we are still investing heavily in staff development, budget holders such as myself are coming under increasing scrutiny and pressure to get the maximum value from the training spend – the overall perogative being to get the best quality at a lower price.
I hope this helps. It is very competitive in the training market at the moment, but if you get your value proposition right there is still a lot of work available.
Regards
Bridget
great advice
Thanks that’s great advise