So you put all this time, money and effort into creating, promoting and then selling out of your adventures, you’ve slogged you guts out, pushed yourself sooo far outside you’re comfort zone you wouldn’t even recognise it if it slapped you in the face….
All that effort, only then figure out after you’ve run it, that it actually make any money…stink!
All that hard work, down the toilet so to say.
Well, maybe not all of it.
The good news is you have some foundation to rework your costings on so you can run your next one and come away with some cash money AND have a fun day getting some rad women outdoor.
Here are two reasons I see time and time again that women like you aren’t making as much as you should when you’re running adventures so you can go back over your numbers and start profiting like a lady boss on your adventures.
Not Pricing Your Adventure Properly
Its under estimated the time that goes into pre and post adventure prep, and often this is not reflected in the price that I see women pricing their adventures at.
It’s so common to hear ‘but how can I charge for something they can do themselves or for less’….aaaaargh! Keep an eye out for a blog to come from this specific topic next week.
So here’s three questions to ask yourself to when pricing your adventure.
- How much do you want to make from the day
If you don’t know how much you want to make on the day, how can you set your prices once you have your costing. Always start with the end in mind. Consider how long you will be out for the day, plus pre and post adventure prep. Don’t undervalue your time….oh hell no!
- What is your break even number?
How many bookings do you need in order to break even, too high and if you don’t get the numbers you’ll be running at a lose or worse still cancelling your adventures (huge warning… you don’t want to be known as the person that cancels adventures, so my very strong suggestion is that you go all out and sell out, or at the very least reach your minimum numbers). You need to find the right mix here.
- What expenses are you missing out the are chipping away at your profit.
This segways perfectly into #2
#2 Unaccounted For Expenses
3 Hidden Expenses That Are Eating Into Your Profit
- Paypal/credit card fees
Every little bit stacks up over time. 3% on every transaction over a 12 month is well over 1k off your bottom line. Make sure you’re putting it in. You might be reading this and thinking its obvious, but let me tell ya… it’s left out 50% of the time.
Are you factoring the cost to drive your vehicle to and from the adventure. Not just the petrol, but the wear and tear on it from use. If you’re in NZ the rate is currently 73c per km. Make sure you check it out in your country and make sure ya put it in!
Are all the expenses GST inclusive? Some adventure providers quote without GST, which makes a MASSIVE difference to calculating your price to charge and of course your profit. I remember the first time I priced an adventure without including the GST for the supplier component, and it cost me $350 in profit…. its fair to say I’ve not done that again.
If you’re wanting to kick start running adventures as another revenue stream for your current biz or along side your not as much fun day job, or…
You’re already trying to run adventures and they just aren’t getting the numbers you want,
Then you and I, let’s talk.
Let’s grab 20 mins on the phone together to talk about what you want to you really want to be making from your adventures and where the gaps are so you can come away pumped ready to kick ass and make some money.
Find a time here that works best for you.
Biz Mentor. Adventure Seeker. Speaker