Converting your Hobby into a Business - Held in Narrogin

Calling out to all people with a side-hustle (arts, food, caring, web design) that are ready to explore how they can grow into a sustainable, small business in the Wheatbelt!

Learn the essentials to creating a business from your passion project (hobby). The outcome for participants will be developing a business model canvas that captures the essential elements of their business plan, plus and perhaps most importantly a pricing structure for their services and/or products. The workshop will also cover fundamentals such as trademarks, ABN registration, financial and record keeping. 

Many small businesses grow from the kitchens, home studios and sheds of their owners. Taking the step from hobby to small business can feel daunting. This hands-on workshop offers you with two vital and simple tools (business model canvas & pricing strategy) to test your passion and ability to make the step towards business ownership. The workshop also provides you with a comprehensive overview of the regulations, financial record keeping and other practical steps to allow you to achieve your business goals. 

Main Topics Covered:

• Business model canvas - take home activity.
• Pricing strategy - worksheets and examples.
• Regulations, insurance and rent (fixed costs).

Presenter: Ben Cole, Business Advisor from IPS Management Consultants.

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IPS Management Consultants is a provider of SBDC Regional services in the South West, Peel, Mid West/Gascoyne, Pilbara and Wheatbelt regions.

This SBDC Regional workshop is funded by the State Government through the Small Business Development Corporation.