More Than a Revenue Stream: How Workshops and Classes Can Help Your Business Grow

It is rare for a single transaction to make a loyal customer, however making people feel connected to your business in one visit could.

In previous blogs we have touched on the importance of the customer experience. One pillar of what your business's customer experience would look like are workshops and classes. 

Whether you’re looking to grow your clientele, or prepare for sale, workshops and classes have huge opportunities for profit.

To start, I want to talk about the psychology behind customer loyalty and workshops. Over a million marketing psychology books will tell you that customers will remember in-store experiences more than purchases.

Although we do our best to create an experience for our customers when they come in just to make those simple purchases, we are not always guaranteed to make a long lasting impression.

Workshops and classes on the other hand are a huge opportunity for one-on-one interactions and demos for customers. These events are also another stream of engagement to bring new customers into the shop. 

For some businesses, it might seem daunting or unrealistic to incorporate workshops, and while I do understand, I would also like to provide a few examples of how you could use this idea.

For some real life examples: The Glitter Workshop, shining through the walls of Madison’s Garver Feed Mill, offers a number of different classes and workshops for any type of customer. Customers can dabble in candle making, DIY events, or craft workshops.

Inside, The Glitter Workshop offers a beautiful retail space full of candles, projects, and even vintage items. Although workshops are a huge portion of The Glitter Workshop’s business model, it shows the trickling effect workshops can provide for a business. 

Another workshop focused business is the Midwest Clay Project and Studios. Not only has this business overtaken pottery into more than a transaction, they offer classes, memberships, and even studio access for those who just want to create.

The Midwest Clay Project saw such success in their workshops they took it one step further into creating a membership for community members with strong loyalty to the brand. These monthly memberships start at $117 for 24/7 access to the studio. 

On a smaller, and possibly more obtainable scale, you can create private workshops for a plethora of industries.

For instance, salons could organize private events where they showcase the tips and tricks they have learned for taking care of your extensions once you leave the salon. This can include showcasing their favorite brands to use on their hair, or even leave the session open as a Q&A for clients.

Although this wouldn’t be a workshop provided daily, even hosting a ‘Mimosas and Extensions Chat’ once a month is a great way to create those one-on-one customer experiences. Not only are you creating that special event for customers, you are setting yourself up as an expert in the field. 

Another idea that is more retail focused, you could create an after hours styling event for your boutique. Giving customers an exclusive and private time to style, chat with others, and possibly a 15% of purchase coupon. This creates a hands-on, personalized experience for customers that makes them feel more excited and engaged with your brand. 

Any way that you are able to incorporate workshops and classes into your business can be a strong stream of revenue. Scheduling monthly, weekly, or even annual classes is a predictable and tangible stream of revenue.

All of this revenue will be on top of your regular sales and goals. Even if your classes are only seasonally based, you can predict the revenue you will be getting from rather than going off of a day-to-day sales basis.

As I reiterate in every blog, success doesn’t stem directly from yesterday’s sales, but the systems and customer relationships built along the way. Workshops and classes hit both of those directly, while also strengthening current connections, growing a larger community presence, and overall diversifying your streams of revenue. 

For business owners looking to strengthen their long-term exit strategy, workshops and classes not only grow your current business structure, but create long lasting memories that will increase your business value for years.

Taylor Kaufmann is a graduate of the University of Wisconsin–Madison now pursuing her MBA with a focus on Strategic Marketing Communications. Her studies center around public relations, brand marketing, and digital media strategy, complemented by extensive experience in the retail sector.