For years, Country Inns and B&Bs have struggled in leveling cash flows in a seasonally affected environment. During the busy season there is never enough inventory (ie. rooms) and, conversely, during the slow season, the inventory is left underutilized. This fluctuation results in revenue peaks and valleys; rendering money management difficult, cumbersome, and frustrating. A niche market will solve that problem.
Finding a niche market that positively addresses the slow season can be challenging. For one, the guests have no motivation to come to a seasonal
locale when their normal reason for being there is not available (no snow in the summer for a ski resort environment, inclement weather in the winter for a lake or coastal attraction, etc).
The objective in finding a profitable niche market is one where the facility itself becomes the destination rather than a required by-product of the overall local attraction. To that end, we have been very successful in assisting owners in finding their own niche. One where they are assured that outside influences (bad weather, poor locale, closed attractions, etc.) are minimized or removed entirely with regards to their influence on attracting business to their facility.
We will work with you to ensure that, regardless of outside influences, your lodging facility will have a package suitable for attracting off-season business. Another benefit to developing and marketing to a niche is that you retain control over the details of how, when and where the event is going to occur without having to rely on outside venues or attractions guiding the prospective marketing and sales efforts and ultimate results.
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Locally, the impact of a niche product is a positive one as well. When the participants are not engaged at your facility enjoying the event itself, they are out and about, visiting local shops, eating establishments and, in general, spending their discretionary funds throughout the local business community.
A most enjoyable side benefit to any given niche market is one that has remained consistent from event to event, month to month, and year to year – the guests themselves. The guests who participate in these events are uniformly interested, committed, and vested in enjoying a successful event; otherwise, they would never have made a reservation in the first place. They want to be at YOUR facility, and all they want to do is have fun!
Anecdotally, and as an example, one year, during the peak snow season in Vermont, three elderly woman fought the elements in order to make it to a niche event. About ten miles away from the hosting inn, they were stopped short in their journey due to the highway being closed because of deep snow. The ladies told their story to a local (classic Vermonter – plaid shirt, suspenders, full beard, and very friendly), who then proceeded to drive them the rest of the way on back roads using his snowplow to clear the way; all so the ladies wouldn’t miss their Friday evening reception! They arrived at the inn pale, shaking, and cold, but, by gum and by golly, they made it! And they proceeded to thoroughly enjoy the weekend in true style!
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If your facility is faced with the slow season blues, we invite you to consider developing a relationship with NicheMarket Consulting so that we can move forward in producing a successful and profitable series of niches for your hospitality facility.