Qualified Plan Sales Training Program


Cost to Implement:    $175/hr ($1400/day) plus expenses.

Expected hours required:    80 hours (10 days) for complete course plus 20 hours of support over a subsequent 4 months.

Program:  Center of Influence Pension Sales – Strategies to develop and support a core business influencer referral network.

Benefits: Near term ramp-up in time for the New Year sales rush; Increase in annual revenue; Self perpetuating program; Up to 8 trainees at once.

Sales Rep Objective:         50 new Plans per year per Sales Rep by end of Year 2.

Training Topics:

1)  Identify and Develop Influencer Relations

2)  Face to Face Strategies

3)  Constant Contact Strategies

4)  Seminars/Continuing Education Strategies

5)  $0 Marketing Strategies

6)  Influencer sales and marketing support

7)  Creating dissatisfaction

8)  Successful sales through Plan design

9)  Closing appointments

10) New client referrals

Suggested Sales Staff Compensation:

80% of setup fee plus 10% of annual sales revenue generated from each new client with a 3 year that cliff (drops to 0% at the end of 3rd year). Requires a $36,000 per year draw down account from which the Sales Rep would borrow if needed. Also suggest a marketing budget of $10,000 for each Sales Rep to cover miscellaneous support expenses.

Assumptions (based on a sample Plan fee schedule and suggested Sales Rep compensation)
New Plan Set Up Fee:  $  1,150 Per Plan Base Fee: $1,750 Per Participant Fee:  $30
New Plan Set Up Fee Sales Comp: 80% Base Fee Sales Comp:  10% Per Participant Sales Comp: 10%
Avg. Part Count per Plan: 30
New Revenue Projections

Yr 1

Yr 2

Yr 3

Yr 4

# New Plans

25

50

50

50

# Plans

25

75

125

175

Set Up Fees $28,750.00 $  57,500.00 $  57,500.00 $  57,500.00
Annual Base Fees $43,750.00 $131,250.00 $218,750.00 $306,250.00
Annual Part Fees $22,500.00 $  67,500.00 $112,500.00 $157,500.00
Total Revenue $95,000.00 $256,250.00 $388,750.00 $521,250.00
Set Up Comp $23,000.00 $  46,000.00 $  46,000.00 $  46,000.00
Annual Base Comp $  4,375.00 $  13,125.00 $  21,875.00 $  26,250.00
Annual Part Comp $  2,250.00 $    6,750.00 $  11,250.00 $  13,500.00
Total Sales Rep Comp $29,625.00 $  65,875.00 $  79,125.00 $  85,750.00
Net New Revenue $65,375.00 $190,375.00 $309,625.00 $435,500.00