Twin River Outfitters

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Twin River Outfitters

  1. 1. TWIN RIVER OUTFITTERS CANOE / KAYAK / TUBING RENTAL BUSINESS Located on the James River in Botetourt County, VA
  2. 2. TWIN RIVER OUTFITTERS <ul><li>TWIN RIVER OUTFITTERS is a full service canoe livery that rents canoes, kayaks, and inner tubes on the James & Maury Rivers in the Blue Ridge mountains of Virginia. </li></ul><ul><li>We are the oldest and most experienced outfitter operating on the Upper James River and has been safely running river trips since 1978. </li></ul><ul><li>We run trips on nearly 100 miles of rivers in the upper James River Basin area providing a wide variety of paddling opportunities to suit every level of paddler. </li></ul>
  3. 3. OWNER’S BACKGROUND <ul><li>TRO is owned and managed by twin brothers John & Dan Mays </li></ul><ul><ul><li>Always wanted to own an outdoor recreation business </li></ul></ul><ul><ul><li>Both had bachelor degrees in business </li></ul></ul><ul><ul><li>Both did the corporate job for 10+ years </li></ul></ul><ul><ul><li>Always wanted to be our own boss </li></ul></ul><ul><ul><li>Both loved outdoors and paddling </li></ul></ul><ul><ul><li>Neither of us ever worked had ever worked in a paddle sports rental business </li></ul></ul>
  4. 4. COMPANY HISTORY <ul><li>James River Basin Canoe Livery was started in April 1978 by Glen Rose in Rockbridge County, VA who ran successfully for over 25 years </li></ul><ul><li>In 2004 the previous owner decided to retire and started looking for a buyer </li></ul><ul><li>In 2004 the Mays brothers purchased property in Glasgow, VA and were in process of starting a competing canoe livery </li></ul><ul><li>In mid 2004 the Mays brothers were mobilized as member of US Naval Reserves and spent 10 months on active duty including 6 months in Iraq </li></ul><ul><li>While mobilized and serving in Iraq was contacted via email to purchase James River Basin Canoe Livery </li></ul><ul><li>Negotiations ensued via satellite phone from Iraq to Lexington, and eventually we decided to purchase existing company </li></ul><ul><li>In May 2005 we purchased the business and renamed it Twin River Outfitters reflecting new ownership </li></ul>
  5. 5. TRO TODAY <ul><li>We run a successful tourism business that serves thousands of customers per year </li></ul><ul><li>Since taking over the company in 2005 we have maintained grown every year from 8 – 20%. </li></ul><ul><li>We own and manage a canoe fleet of 40 canoes, 40 kayaks, and 50 rental tubes </li></ul><ul><li>In 2010 we opened the “James River House” a 5 room inn, located 1 block from our canoe livery business to add a lodging component to our business </li></ul><ul><li>In the future we are looking to expand with a camp ground or rental cabins </li></ul>
  6. 6. LESSONS LEARNED <ul><li>PICK GOOD BUSINESS LOCATION </li></ul><ul><li>SUFFICIENT START UP CAPITAL </li></ul><ul><li>INTERNET MARKETING </li></ul><ul><li>MANAGE YOUR CASH FLOW </li></ul><ul><li>BE ABLE TO WEAR MANY HATS </li></ul><ul><li>ADAPT AND ADJUST </li></ul><ul><li>LONG HOURS </li></ul>
  7. 7. BUSINESS LOCATION <ul><li>KEY TO SUCESSFUL BUSINESS </li></ul><ul><li>LOCATION, LOCATION, LOCATION </li></ul><ul><li>PROXIMITY TO TARGET MARKET </li></ul><ul><li>RIVER FRONT PROPERTY </li></ul><ul><ul><ul><li>Greatly simplified our operation </li></ul></ul></ul>
  8. 8. SUFFICIENT START UP CAPITAL <ul><li>TAKES MONEY TO MAKE MONEY </li></ul><ul><li>“ ROME WAS NOT BUILT IN A DAY” </li></ul><ul><li>BUT YOU NEED TO START WITH BIG ENOUGH OPERATION THAT CAN SUPPORT YOURSELF </li></ul><ul><li>IT CAN TAKE SEVERAL YEARS TO TURN PROFITABLE, NEED CONTINOUS FUNDING DURING START UP PERIOD </li></ul>
  9. 9. INTERNET MARKETING <ul><li>Need an attractive & functional website </li></ul><ul><li># 1 Way new customers find us is via internet search </li></ul><ul><li>Biggest bang for your marketing dollars, canoevirginia.com & canoevirginia.net </li></ul><ul><ul><li>Enter “CANOE VIRGINIA” or a variation and we routinely come up in top 5 search results for Yahoo, Google, & MSN. </li></ul></ul><ul><li>New trends social media (i.e. Face Book), opt in email marketing campaigns </li></ul>
  10. 10. MANAGE CASH FLOW <ul><li>SEASONAL BUSINESS - 85% OF INCOME GENERATED IN 4 MONTHS OF YEAR </li></ul><ul><li>RETAIL BUSINESS DO WELL FROM THANKSGIVING TO CHRISTMAS </li></ul><ul><li>WHAT DO IN OFF SEASON?? Do you need other income sources to make it through the rest of the year??? </li></ul><ul><li>NEED SOME YEAR ROUND INCOME, AND DISCIPLINED BUDGETING SKILLS </li></ul>
  11. 11. MUST WEAR MANY HATS <ul><li>SHUTTLE DRIVER </li></ul><ul><li>INSTRUCTOR </li></ul><ul><li>SALES GUY </li></ul><ul><li>MANAGER </li></ul><ul><li>ACCOUNTANT </li></ul><ul><li>JANITOR </li></ul><ul><li>INN KEEPER </li></ul><ul><li>TRAVEL AGENT </li></ul><ul><li>MECHANIC </li></ul><ul><li>WEB MASTER </li></ul><ul><li>GROUNDS KEEPER </li></ul><ul><li>BUS DRIVER </li></ul><ul><li>RIVER GUIDE </li></ul>
  12. 12. CONTINOUSLY ADAPT AND ADJUST <ul><li>MUST BE WILLING TO ADJUST SERVICE MIX BASED ON CUSTOMER DEMAND AND CHANGING TRENDS </li></ul><ul><ul><li>Tubing - previous owner did not offer </li></ul></ul><ul><ul><li>Kayaking – previous owner had 4, we now have 40 </li></ul></ul><ul><ul><li>Canoes – less demand </li></ul></ul><ul><ul><li>Added lodging component to business </li></ul></ul><ul><ul><li>Private boater shuttle service </li></ul></ul><ul><ul><li>Cell phone usage </li></ul></ul>
  13. 13. LONG HOURS <ul><li>In season frequently work 7 days a week / 70 plus hours week </li></ul><ul><li>Reachable by phone 24 /7 when customers are on water or at Inn </li></ul><ul><ul><li>6 am canoe campers w/ boats floating down stream </li></ul></ul><ul><ul><li>1 am pick up for Adventure racer who missed take out </li></ul></ul><ul><ul><li>8 pm boat recovery Memorial day weekend </li></ul></ul><ul><li>Definitely not a 9 am – 5 pm job </li></ul><ul><li>Down time in off season </li></ul>
  14. 14. POSSIBLE BUSINESS IDEAS <ul><li>Zip line / canopy tours </li></ul><ul><li>Dude ranch </li></ul><ul><li>Road biking support company </li></ul><ul><li>Bed & breakfast lodging </li></ul><ul><li>Canoe / kayak rental </li></ul><ul><li>Horseback riding </li></ul><ul><li>ATV rentals </li></ul><ul><li>Bait & tackle shop </li></ul><ul><li>Outfitter store </li></ul><ul><li>Guided camping trip </li></ul><ul><li>Guided fishing service </li></ul><ul><li>Paintball company </li></ul><ul><li>Tour bus based guided trips </li></ul><ul><li>Summer camp </li></ul><ul><li>Camp ground </li></ul><ul><li>Cabin rental </li></ul><ul><li>Outdoor skills instruction </li></ul>
  15. 15. BEST OF LUCK STARTING YOUR OUTDOOR TOURISM BUSINESS <ul><li>THANKS FOR YOUR TIME TODAY </li></ul>

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