questions for ya'll
Coloradobuck
7/20/11 2:19pm
so im thinkn bout startn up my own outfitting business and hopen i can get some pointers. i have to right a business plan and tryn to find out how much you guys would be willing to pay to hunt deer or elk? something resinable that both non and resident hunters can afford somethin for the every day workn class man can pay. any info will help out alot thank you
4,650
Having said that I think the value of a hunt would depend on what you were offering. What class of animals? What are accomodations? Backcountry on horseback? Private or public hunting grounds? Rides to and from the airport? Do you take the meat to a processor for the hunter? Do you have a good feel for ALL of your anticpated costs like licensing fees, feed for livestock, tack, offices (rent and utilities), cost of a website, advertising dollars, fuel, vehicle maintenance for vehicles used in the mountians, insurance, leases, landowner fees, set up fees for things like licensing, food for hunters, payroll for cooks, guides, and other help?
There are other things as well that you may or may not have thought of but the point is usually a price point that is well articulated in a solid business plan shows profit by covering all anticipated costs plus margin AND shows that what you are selling is worth what you are asking. I think trying to come up with a "fair" price based on what people want to pay and then trying to make that business profitable is a crap shoot at best and does not look good in a business plan.
If I were to start an outfit I would call some other outfitters (hopefully you know 1 or 2 that will talk to you) and ask them about all of thier expenses (including start up costs) and hopefully even tell you what it costs them. Then I'd find a good financial analyst (if I didn't already have this experience) to help me model a solid price point. If that exercise shows a price that you feel is too high then I'd start looking at where I could cut costs to lower my price. Then I'd consult a lawyer to make sure I understood all federal, state and local laws. Lastly I'd either find investors or make sure I had some cash in bank.
Bottom line is cost plus margin = price of the hunt. The trick is finding ways to have less expenses and give better value than the other guy.
Guiding Verus outfitting is a huge difference, for one just the permits and liability insurance alone not to mention the marketing and advertising to get hunters year after year and if you plan on hunting on private land add hefty fees for the leases. These fees among other will be do regardless if you book hunters or not, with the economy right now more than a few outfitters are struggling to just break even. An outfitter can be as simple as someone who offers diy hunts on private land to a full pack in hunt on horses or anything in between. Even the very successful outfitters do some type of work in the off season it is not all hunting and money rolling in. More like taking people hunting and lots of money rolling out for bills and cost.