Starting our own anesthesia conference business, have questions!!

[wheil17]

A few CRNA friends and I are starting a business putting on our own anesthesia conferences. We would be doing these conferences in areas conducive to sportsman or outdoor activities. There's a few questions I hope you folks might be able to answer:

1- how much do speakers cost? We'd be doing some of the presentations ourselves it may need to hire a speaker or two... We would be doing CEUs only to start.
Anyone here doing there own conferences?

[RAYMAN]

Speakers are very expensive, some more than others. I don't remember exact figures, but it seems like many are $100/hour and some with a minimum hour amount plus expenses including travel

[wheil17]

By $100/hr you're talking about speaking time, correct?

[RAYMAN]

By $100/hr you're talking about speaking time, correct?

Yes...it's a good gig

[Bad Apple]

By $100/hr you're talking about speaking time, correct?
That's the very minimum.

[MmacFN]

Hey

Speakers get an honorarium for speaking which ranges from 400-800$ plus hotel and travel It can go higher depending upon demand and it varies. Often speakers will do it for less at state meetings than they will at for profit conferences. Additionally, you will find alot of speakers weary of being associated with a new venture.

[yoga]

Lots of competition out there. People pick locations, topics and speakers and not necessarily in that order.

Most speakers charge about $250 and up per lecture hour + expenses. Expenses include airfare, hotel, meals, cabs, etc.

Before you invest a lot of money in this business, do a good business plan and overestimate expenses and underestimate income. It has worked for a lot of people and groups, but like I said, there is a lot of competition out there.

Example of expenses include, marketing, purchasing mailing lists, printing of brochures, coffee at the meetings (very expensive), travel, speakers fees and office type expenses.

I don't want to discourage you, because I believe in setting up businesses, but only if they are a success.

Jan Mannino

[Bad Apple]

Facility rental will also be a major expense, and some facilities will require a guaranteed number of hotel room sales before booking.

[RAYMAN]

Some hotels charge $500 for a pot of coffee...and that was in Arkansas!

[ethernaut]

Some hotels charge $500 for a pot of coffee...and that was in Arkansas!

is it really that good there? maybe they oughta call it razorbucks coffee.

[Bad Apple]

For $500 I can travel to Jamaica and have a cup of Blue Mountain. That's ridiculous. I hope there was a secret ingredient (like opium, or maybe the breast milk of an angel) in that coffee.

[RAYMAN]

is it really that good there? maybe they oughta call it razorbucks coffee.

Just hotel coffee...albeit one of those big commercial jobs, nevertheless 500?!?

[wheil17]

Before you invest a lot of money in this business, do a good business plan and overestimate expenses and underestimate income. It has worked for a lot of people and groups, but like I said, there is a lot of competition out there.

Example of expenses include, marketing, purchasing mailing lists, printing of brochures, coffee at the meetings (very expensive), travel, speakers fees and office type expenses.

I don't want to discourage you, because I believe in setting up businesses, but only if they are a success.

Jan Mannino

thank you, that's exactly what we're doing. there's 5 of us running it, each taking a chunk of work. i thought 5 seemed like a lot but it's more work than i anticipated. opinions?

[yoga]

thank you, that's exactly what we're doing. there's 5 of us running it, each taking a chunk of work. i thought 5 seemed like a lot but it's more work than i anticipated. opinions?

Have a partnership agreement that delineates everything--initial capitalization (investment), duties, responsibilities, and most important, a termination clause. I can assure you that some people will do more work than others, some will not agree on location, speakers, budget, etc. and some will bulk at the need for additional capitalization. My advise is to retain a good business attorney who can set it up for you and a good accountant to assure you do the financial aspects correctly.

As an aside five people is a lot for a new business unless they totally understand what is going on. Also, be cautious of spouses. I have seen more than one great business partnership go down because of spousal issues.

From my perspective, some of the long term CE businesses have gone from very complicated with lots of meetings and locations, to quite simple and a few meetings a year. Check out NWAS (Northwest Anesthesia Seminars) and IPGE (Institute for Postgraduate Education), both are long term CE business started by CRNAs. You will be competing against them and other CE businesses, AANA and the state association meeting.

Jan

[MmacFN]

Additionally hotels often require you to GUARANTEE a certain number of rooms. This means you will have to pay the difference if not enough show up. On two occasions this costs our state assoc. to LOSE money on our conference. Be very careful with contracts.