Maximizing Your Small Tourism Business Profits
People in the United States are constantly moving for business, social, and family reasons. The top reasons Americans and visitors to the United States travel are to visit relatives, visit friends, go to beaches, go shopping at a special boutique or shop, and sightseeing particularly in rural areas.
If you are in a business that is dependent on travel you need to make adjustments to your business practices to maximize your profit. You need to consider your market, create a niche market, and locate near a popular attraction like a beach, amusement park, or sightseeing attraction.
Eleven percent of the jobs in the United States depend on business or tourism travel. Over 500 billion dollars are spent on tourism travel every year. Most tourism related businesses are small businesses. The market and the money are there you just need to know how to capitalize on it.
Where is the Money?
Travelers in the United States spend more on food than they do on lodging, automobile expenses, airfare, and public transportation. American travelers and visitors from other countries spend more on food than they do on shopping and amusement activities.
Finding Your Niche
Creating a niche market for your tourism business is one of the most successful strategies to create and maintain profit. You need to consider the type of traveler you will cater to. Define your niche as narrowly as possible. Consider age, traveler dollar constraints from budget to luxury, special interests like specific religions, sexual orientation, hobbies, sports, political interest and affiliations, and business group relations.
Create a Strategy
Design your marketing strategy to fit the group you select and be certain that your sales campaign includes special events in the area around your tourism business that will cater to your niche client’s preferences.
Location Location Location
Location is as important as niche. You want to be close to what people want o see and close to the best places to eat in the city or town where your business is located. Having a customer referral and discount arrangement with local restaurants, shops, and amusement facilities is a great way to build your clientele’s loyalty.
You have to keep in mind that tourism is a seasonal business for just about any location in the United States. You should put back profit from your high times that will carry your business through the low spots. You should consider your staffing needs to minimize off season costs. Working with other local businesses to attract off season customers and offering off season discounts is a great way to improve your off season profitability.
Get Social on Social Media
The most important thing you can do to keep your tourism business profitable is to maintain customer contact. Social networking on the internet is one of the cheapest and most productive ways to maintain customer contact, inform old customers and potential new clients about specials and off season deals, and to promote improvements in your business and special events that will attract more customers. Social networking builds customer loyalty.
The money from tourism is out there and you can get your piece of it by catering to a well-defined niche clientele and staying in contact with your customers with a social networking site that brands your business as special.