If You Know What You're Talking About Please Help!

[dr. loomis]

I am putting together a business plan for my haunt which I plan to open this fall, and I need some suggestions on prices. I have done my homework and am considering $13 as a fair market price. Is this too high or just right? Thanks to all who reply!

[bodybagging]

Loomis, depends on your location, what are the other Haunts in your locality charging, how will your haunt compare to these haunts, In quality, length, entertainment? Here In Michigan our ticket Prices range anywhere from 10- 25 depending on the haunt.

[shawnc]

Definitely need more info

No offense but that's like saying I'm going to build a house and put it up for sale - how much should I ask? Like your haunt, it depends on your part of the country, your part of the sate, county, city and even neighborhood. Local market conditions factor in, as does the economy. Are there other entertainment venues around, or just a couple of movie theatres? Any other haunts? That can be good and bad. Some people might only plan on going to one, and you have to work to make sure it's yours, while others might plan on going to both for comparisons sake. And if they do, you better make your's a good one or negative word of mouth will hurt you after the first few nights.

How long do you anticipate people being in your haunt. People will probably balk at paying your price if it only last five minutes. But then if it is too long/big, you need to be able to run a minimum number through to turn a profit.

Have you budgeted enough for advertising and promotion? That's one of the things many new business owners don't plan for. Build it and they will come, the old saying goes. No, not really.

So I guess what I'm saying is that you need to take a look at local conditions and determine whether you are charging enough or too much. The people on this board are great and will give you all the help you need, but I think they will need more detail from you before being able to give a really informed opinion on the price.

[dr. loomis]

Thank you

Thank you, that helps, and sorry for the lack of necessary info. I have done my research though, and there are only a few haunts in the surrounding areas of Ohio where I'm planning. But, and I'm sure everyone says this, I really think mine has competitive advantages over the currently existing ones. Nonetheless, the haunts here are all charging between 11-25. The demographic is excellent, and I do have connections to the local music scene because of my band, so I think my entertainment will be a step up as well as the free publicity that i'll be able to get when working with these other agents.

*On that note, any suggestions for or against live entertainment? Thanks again for all your help!

[twohlgemuth]

Pricing

Here is a simple thought for you. Being a first time operation you must do exit polling. The best way to find out is to ask every customer leaving your haunt. Hire people to ask these questions below:

1. How did you hear about us?
2. Would you consider our show a Good value for the price?
3. How many times do you plan on attending our show this season?
4. What is your age?
5. Can we have your email address for future promotions and discounts?
6. Give them a coupon to come back or a set of cheap beads on a necklace as a gift!

Of course you can expect to have complaints, but a good indicator of how to price your show is keep going up until you get complaints. I started at $2.00 in 1985 and now it is $25.00. If you keep adding value you will drive the market and you will find also that perceived value is part of the marketing game.

Get a professional web site FIRST AND FOREMOST!! Then have your web designer add these questions to a FeedBack page and these questions to be answered to get a coupon off the website.

Good Luck!

[dr. loomis]

Tony, thank you soo much. I really appreciate you taking the time to help me out. I'm really looking forward to this and getting the feedback that I do from veterans such as yourself truly means more than you know. Thanks again!

-Josh