OK, in the last post we talked about what retreat market testing is. We focused on answering the most pressing questions that potential retreat leaders have: will anyone come? The answer to this question, when accurately foretasted, is truly the foundation for the retreat planning process. Let’s get started.
The benefits of accurately estimating your retreat headcount
Now you can select the specific retreat center. If your market testing revealed 10 interested participants, it’s best not to book a center that focuses on groups of 20+.
Retreat group size is a major determining factor in how you program your retreat. Are meals served plated or buffet? Prix fixe or made to order? Can zip-lining accommodate a group of your size? How far in advance does the surf school need to know that our group of 20 is coming?
With the results of your market test in, it is possible to reliably plan for and budget room, board, meals, transportation & excursions.
Not to mention, you have earnings goals which will only be met by correctly marking up your budgeted costs. Some costs are variable, but others are fixed. Allocating those fixed costs across an accurately estimated group size ensures you meet and exceed your earnings goals.
Finally, you have to reach your sales goals to meet your earnings goals. The respondents to your market test are your target customers. Don’t lose that list!