Pricing your adventure can be a bit tricky since there are a variety of factors to account for. When deciding on a price consider setting a base price as your starting point. Once you have something you feel comfortable with, get creative and brainstorm ways to separate your adventure from the pack.
Make it unique, original or multi faceted. Each new layer brings added value, which results in an increase in your price. Our best rule of thumb is ask your self how much would YOU be willing to pay for this adventure? If that doesn't answer the pricing conundrum, here are 4 things to consider when deciding the right price for your adventure.
What are your costs?
Costs that remain the same regardless of the number of sessions you lead. This could be your annual costs, equipment maintenance or cost of storing your own gear.
Costs incurred according to the number of sessions you lead. This could be boat fuel, rental equipment, meals during your adventure, extra amenities or the service fee you pay Adventure Aide.
What is your break even?
After calculating your costs, you will have an idea of how much money you will need to cover the costs of leading an adventure and start making a profit. This helps you to calculate the minimum number of bookings you need per adventure to ensure that you don't take a loss.
How to add additional value?
When figuring out how much profit you would like to make consider the following What amenities can you provide your participants to enhance their experience? Do these additions justify the total amount you want to charge?
- No amentities or extras - Think about low-cost airlines. The price of each flight is based on the cost of getting from one destination to another, without checking in bags, in-flight entertainment, meals, etc. You could choose to price your adventure this way, where perhaps lunch is not included, but it could be for an additional $10.
- Go above and beyond - An all inclusive package adventure comes to mind where everything is included in the price. This might be lunch, park entry fees, or perhaps a post adventure smoothie at your favorite local shop. The trick here is to decide what additions really add value, will differentiate you from other adventures, and justify the amount you wish to charge.
What are others charging for similar adventures?
What are other people and businesses doing in your space? Run a simple Google search for market rates and use it as a guideline to price your adventure. You don’t have to be the cheapest option available, but you shouldn’t be charging 5 times the market rate either.
The Bottom Line
Once you lead a few adventures, you will quickly learn whether your price is too high or too low based on demand. One recommendation is too start low or offer your first adventure free to bring in some demand and generate some rating and reviews. From there, increase your price to find the sweet spot.
We recommend to set your minimum price to $10 or keep it free until you decide on a price that works for you.
Suggested price ranges
We want to provide you with help to give you a better understanding of what the average price range is for different adventure types. To help drive your price up and also distinguish your adventure from others we recommend making your adventure as unique as possible. To help give a better idea on baseline prices to charge your participants, we have created a list below.
The standard prices below are a recommended range and with every added amenity, your adventure will become worth more and as result your price should increase.
Walking Tours $15-$30
Hiking $10 or free
Outdoor Fitness $10-$25
Mountain Biking $30-$75
Road Biking $30-$50
Horseback Riding $50-$200
Running $10 or free
Rock Climbing $30-$100