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