Finding Market Price

Cushtie

this may not be the correct place to post but ill give it a shot anyway....Mods please feel free to move to a more appropriate home if needs be.

I'm kicking around an idea of starting up a side business at the weekends of providing guided walks in a very scenic location.

it is about 2 hours from a major urban center / population, it gets a lot of foreign tourists but I feel there may be an opportunity to tap into a growing domestic market for this type of thing. It is not mountaineering or anything like that just a 4-5 hours hike/ hill walk steeped in heritage, folklore amid stunning scenery.

The plan is provide transport to and from location and an experienced guide for the walk / Hike.

Sooooo the question is how much would you be willing to pay for such a day out?? if you saw a poster advertising this day out what price would make you say..."mmm I'd be interested in that" and what would make you say, "no way too expensive"

there is a price point I would need to hit to make it worthwhile before taking it any further, so any opinions would be appreciated.

cheers.

Gloomtastic!

Here’s one based in Dublin, seems similar to yours although it includes train fare from centre of town out to Howth.

http://www.dublinfreewalkingtour.ie/howth-hiking-tour

Cushtie

Gloomtastic! wrote: »

Here’s one based in Dublin, seems similar to yours although it includes train fare from centre of town out to Howth.

http://www.dublinfreewalkingtour.ie/howth-hiking-tour

Thanks for that. I'm looking at about twice that!!:eek:

Gloomtastic!

Cushtie wrote: »

Thanks for that. I'm looking at about twice that!!:eek:

So you’ll need to get twice as many people on each tour. That Howth guy goes into the city centre to collect people to go on his tour.

If you want to charge more, you’re going to have to offer more. Can you feed them, give them a souvenir, like a cool t-shirt?

tricky D

Not if it's the same outfit but check out http://www.shaneshowthhikes.com/en

He has tie-ins with local eateries and sells tee shirts as extras = more revenue.

Cushtie

Thanks. It's the distance to the location that's making it expensive. To provide a "package" I need to provide transport.

I hadn't thought of the Merchandise angle to be honest.

The tie in with local restaurants etc is also something I have thought about as it's a long day and people would definately need a good meal afterwards.

Anyway it's going no where until I can come up with a price. I guess I could advertise it and if nothing is happening there is my answer.!!

pedroeibar1

Cushtie wrote: »

.....
Anyway it's going no where until I can come up with a price. I guess I could advertise it and if nothing is happening there is my answer.!!

A side business generally fails because it is what it is. You have to be focused.

You are nowhere near a launch stage yet. You need to define your offer more specifically. What is the target audience? Age profile? Where do they come from? Their level of fitness? Will the walk be a ramble in the countryside, a cross-country hike or a stroll with historical input? What type of gear / clothing is required? How many people pack rain gear and boots in a carry-on for weekend? How good is your historical knowledge? Do you have a foreign language? First aid? Have you considered liability insurance? Have you the necessary permissions to run a business bringing people across private lands? You need to decide on your target market and how best to reach it e.g. contacts with hotel concierges, etc.

Also be aware that this business sector is full of scam artists – the scam is not yet fully developed in Ireland, but Continental tourists are aware of it and will be slow to pre-book walks online.

I’ve led a few bank holiday weekend historical walks for a country hotel – notice placed in lobby with sheet for guests to register; it shows a price or stipulates a donation that will goes to local charity/ies. On the day there inevitably are a few no-shows that delay everything. The financial return was generally dismal when it was a donation. You need to be really serious to make this work, otherwise forget it.

Cushtie

Thanks for the reply. It has to be a side project for now as I have other commitments.

You are right of course. Although I have done alot of research on the projet, you have raised a few things I need to do further work on.

Thanks a lot for the input.

CUSHTIE

Cushtie

So I've done a little bit more on this over the winter.

I'm going to give it a go and see what comes of it. I've done a Facebook page and will be doing some advertising locally aswell.

Here is the Facebook page. I'd be delighted if a few of ye could give it a quick look over and poke a few holes in it.


https://www.facebook.com/walkwestkerry/

Thanks

jimmii

All you can do is give it a try. Invite a few bloggers along for free try get some exposure might help. It does pretty expensive more the sort of price you would expect to be paying for an island landing trip but if you can give an informative and entertaining tour then theres a chance theres a market there at least in the summer.

Good luck!

westgolf

Why not run a bus from Killarney ? Tourist capital of Kerry. Also if you get a chance after the first outing or two put up a few pics with people in the general shots.

Cushtie

westgolf wrote: »

Why not run a bus from Killarney ? Tourist capital of Kerry. Also if you get a chance after the first outing or two put up a few pics with people in the general shots.

I thought of that too. The Killarney angle. I suppose the thinking was that there is fierce competition down there for every tourist Euro already. Also plenty of Mountains and Hiking trails down there. I'm also from Limerick so I guess that was the easier "dipping the toe in" Market to try. It is definately in the plan if it gets off the ground.