โAug-14-2021 01:58 PM
โOct-03-2021 02:27 PM
โAug-27-2021 09:20 AM
Lantley wrote:mikestock wrote:
The first rule in business: Charge too much and you won't make money, charge too little and you won't make money. The best rate to charge is the one that maximizes profit. Unless this campground is full when all others in the area are full he needs to adjust accordingly or learn the hard way.
While there is a sweet spot. "Chick Filet" Capacity does not equate to success. Ruth Chris does not want to set their prices such that they have a line wrapping around the building like a McDonalds.
There are profit margins. Capacity alone does not = profitablity.
You can be just as profitable at 50% capacity as you can with 100% capacity if your rates are set at a profitable level.
Low rates are not necessarily the key to success/profitabilty.
โAug-19-2021 06:26 PM
โAug-18-2021 11:41 AM
โAug-18-2021 10:03 AM
โAug-18-2021 06:47 AM
mikestock wrote:Apparently that park has a business plan that works for them. They were able to accommodate a last minute traveler when all the other parks were full. According to the original poster, the rate was much higher than the other parks, but he still paid because it was the only park with a vacancy that served his needs. The business plan of the park may very well be becoming the provider of last resort. The original poster said the park had no visual appeal, didn't have a lot of amenities and yet it was half full of guests who were paying double what other parks were charging. That means that park has much higher margins and lower costs than their nearby competitors. It may very well be the most profitable of all, and that is what the ownership ultimately interested in.
The first rule in business: Charge too much and you won't make money, charge too little and you won't make money. The best rate to charge is the one that maximizes profit. Unless this campground is full when all others in the area are full he needs to adjust accordingly or learn the hard way.
โAug-18-2021 06:04 AM
mikestock wrote:
The first rule in business: Charge too much and you won't make money, charge too little and you won't make money. The best rate to charge is the one that maximizes profit. Unless this campground is full when all others in the area are full he needs to adjust accordingly or learn the hard way.
โAug-18-2021 06:00 AM
Bionic Man wrote:
I was just in Montana for business a few weeks back. I couldn't find a Marriott or Hilton property for less than $350/night, and that was with advanced reservations. People coming in without reservations were paying over $500/night for a Fairfield (if there was a room available).
Supply and demand, as well as lack of available employees, at work. (The hotels were limiting capacity due to lack of staff).
โAug-18-2021 05:45 AM
mikestock wrote:
The first rule in business: Charge too much and you won't make money, charge too little and you won't make money. The best rate to charge is the one that maximizes profit. Unless this campground is full when all others in the area are full he needs to adjust accordingly or learn the hard way.
โAug-18-2021 05:15 AM
mikestock wrote:
The first rule in business: Charge too much and you won't make money, charge too little and you won't make money. The best rate to charge is the one that maximizes profit. Unless this campground is full when all others in the area are full he needs to adjust accordingly or learn the hard way.
โAug-18-2021 05:11 AM
โAug-16-2021 07:00 AM
wapiticountry wrote:
A very successful friend in retail always says you can tell the price is right if the buyer is cursing the price while reaching for their wallet. It appears the park's rate was spot on.
โAug-16-2021 06:36 AM
โAug-15-2021 02:46 PM
(The hotels were limiting capacity due to lack of staff)