Below are excerpts from our Business Plan. After doing market research that states the Sporting & Recreational Camps Industry is forecasted for $1.3 Billion in growth by 2025, and with current traditional vacations being slow, we see the potential for a Guest Ranch to be successful not only now, but in years to come. The total cost for buying land and building the guest ranch is $5.5M. We are only seeking a partial amount of the full amount, as we have been in talks with local banks that are interested and would be willing to loan up to 75% of the project costs. For us this is not just about financing a business but a change in lifestyle, as the LLC members would be full time employees at the ranch.
I. Executive Summary
Iron Horse Ranch LLC’s goal is to be a family friendly hospitality business based on equestrian and outdoor adventure. This is a year round resort, with 3 operating seasons. The first season is the primary guest ranch season and goes from May thru September. The second season is based on Holidays & Hunting and runs October thru December. The third season is our winter season and runs from January thru April.
We want to be located approximately 8 miles southeast of Devils’s Tower Wyoming, the property is 1100+ acres, where 50 acres would be reserved for the main resort buildings; 50 acres for horse stables and pastures; 150 acres for hay/grass production; 850+ acres for trail riding & activities during the warmer months with hunting and snow sports during the winter months.
Mission Statement
Our mission is to provide an atmosphere that refreshes the soul, through the exposure to nature, horses and other animals, allowing families and individuals to come together and bond.
Keys to Success
1. Develop a friendly and relaxed atmosphere
2. Operations that are designed for building memories and relationships
3. Marketing strategies aimed at building loyal customers
II. Company Overview & Business Structure
Iron Horse Ranch LLC, is a member managed Limited Liability Company with two members.
- Member - J. Nice is the Chief Executive Officer.
- Member - A. Nice is the Chief Operating Officer.
Having the right business structure is very important to us as a business because it allows us to start and run the business with as little risk as possible. We will go the extra mile to ensure we source the right staff that will handle all the available positions in our company.
Our management staff will have the right experience and competence needed but are also attuned to our core principles and values and are committed to ensuring that we attain all our goals and objectives by making sure junior staff also understand our values and ensure that they can be implemented as well.
Below is the business structure we intend to build at Iron Horse Resort;
- Chief Executive Officer (filled)
- Chief Operating Officer (filled)
- Head Wrangler/Barn Manager (we have a person that has tentatively agreed to this position)
- Head Chef
- Activities Director
- Marketing Team (outsourced to a third party)
- Groundskeeper
Chief Executive Officer
- Makes all the high level decisions that affect the future of the Ranch/Resort
- Drafts the budget that will be used by the Ranch to conduct its activities
- Meets with high level clients on behalf of the resort
Chief Operating Officer
- In charge of the week to week operations of the trail riding program
- Works with Head Wrangler on day to day trail rides
- Meets with staff daily to ensure the operation runs smoothly
Head Wrangler/Barn Manager
- In charge of all the horses and ensures that their welfare is paramount
- Conducts a thorough inspection of the horses and ensures that they are fit before going out for trail riding
- Ensures that all sick horses receive appropriate medical attention
Head Chef
- In charge of all the meals/menus
- Conducts a thorough inspection of the kitchen & eating facilities
Activities Director
- In charge of all non-riding activities
- Organizes activities for kids/teens
Marketing Team
- Carries out new market research on behalf of the company in order to attract new clients to the ranch/resort
- Drafts effective marketing strategies on behalf of the ranch/resort
- Conducts direct marketing on behalf of the company
Groundskeeper
- In charge of main resort grounds, cabin maintenance, fences etc.
III. Products/Services
Problem/Solution
Iron Horse Ranch solves the problem of daily distractions typically brought on by technology. While technology is not inherently bad, we feel that excessive use of technology instead of maintaining relationships can be devastating to a person and their health. We provide access to nature with a level of privacy not available in traditional hotels.
People that come to Iron Horse Ranch will not need to stay connected to their phone or laptop, instead they will be able to enjoy horse rides, and other various outdoor activities. These activities will also help to build stamina and maintain core muscles.
The result of a stay at our ranch is a person can improve their core muscles and balance through horse riding. Archery helps with focus and building strength in the arms; while hikes help build stamina. Being outdoors also helps with an increase of oxygen and blood flow, all good things for a healthy life.
A healthier body and more focused mind allow for more efficiency when returning to a daily business routine.
V. Marketing Strategy
Marketing will be handled by a marketing agency, with direction from the managing members. No agreements have been made, however we would like to enlist the help of an agency similar to Brick House Creative, or another local Wyoming or Montana business.
Currently six website url domains are owned by the LLC, and we have website hosting setup. Three plans will be used: marketing through travel agencies and hospitality sites; marketing through digital media, such as facebook, instagram, email; finally there we will marketing directly through our website. We have begun initial marketing on Facebook using ads and a business page.
Market Targeting
1. Adults 30-45 who have children
2. Married adults 21-99+, with no children
3. Horse Lovers
4. Single Adults
VI. Competitive Analysis
Marketing data was obtained from two reports; the 2020 U.S. Industry and Market Report (Barnes Report); and 2020 Premium Report on Recreation & Vacation Camps (AnythingResearch). Both reports are for the Sporting & Recreational Camps Industry (NAICS 721214)
Strengths, Weaknesses, Opportunities, Threats (SWOT)
Strengths: The Dude Ranch industry is a sub-industry of the Sporting & Recreational Camps Industry, and has sales of $219.1 million.1
The overall Sporting & Recreational Camps Industry is a $3.6 billion market, with growth seen every year from 2014 to 2019. The market forecast for 2025 is $5.1 billion, with an average annual growth of 6.03% between 2020 to 2025.2
The biggest strength is the location of the property. Wyoming is the 8th largest state in terms of Market Size with 2019 sales of $108 million. The property we seek to purchase neighbors the Black Hills national forest, and is only 20 minutes from the first National Monument of Devil’s Tower, which receives more than 500,000 visitors each year.2
Weaknesses: Since this is a startup, the repeat customer is not yet established; which means that marketing will be important to the success of the business. The first year during establishment will require constant monitoring of new networks and digital advertising.
Opportunities: Travel Agencies and individuals are looking for safe alternatives for vacationing due to COVID-19. The Dude & Guest Ranch industry will provide a social distancing environment as an alternative to typical historical travel.
Current situations aside, many people have always looked to the “West” as a place to get in touch with the history of the U.S. A guest ranch in Wyoming allows anyone to come and enjoy the quiet of nature.
Other opportunities exist within the hunting & fishing industry, and snowsport industry.
Threats: Restrictions on travel, and safety of social distancing is a potential for a down turn in any hospitality industry.
Conclusion:
For financial information related to the project please contact us. We Thank you for your time and interest.