Partnering with other businesses

[greyswan]

I have an opportunity to partner with another company for weekend retreats. The local company does motivation retreats as well as yoga & meditation instruction. Have any of you ever done a weekend retreat with another company - and what advice would you share -pros/cons, etc. What is being proposed right now is we handle the accommodations and they do the retreat part of it - not here but close by. It will be structured into mini-sessions (Friday pm session, Sat am, afternoon, & evening, and Sunday session) Sessions will be short enough to allow some free time for guests as well. I was wondering about sharing the advertising costs, having a package price and then splitting with the other company vs paying each separately.

 

[JunieBJones (JBJ)]

May I ask this - who is doing what - in your estimation are YOU bringing business to the retreat folks or are they bringing business to you? I ask as I think this would play in the % you chose for advertising etc.
Is it a package you are promoting? Or an all out "event" ? Will you be the preferred lodging on the retreat or REQUIRED lodging on the retreat?

 

[greyswan]

May I ask this - who is doing what - in your estimation are YOU bringing business to the retreat folks or are they bringing business to you? I ask as I think this would play in the % you chose for advertising etc.
Is it a package you are promoting? Or an all out "event" ? Will you be the preferred lodging on the retreat or REQUIRED lodging on the retreat?.

You are bringing up good questions. What I had in mind was to charge % of advertising based on accommodations (I will figure in room rates plus the extras we will provide) vs retreat part. We are both going to promote this on our own websites/blogs & I was going to put on the packages part of the directories I'm on. We would share % of newspaper advertisements. We would be the required lodging as we are doing this as a joint venture. - also they are limited in space to the same size as our guest accommodations.

 

[Morticia]

Go back and read that PAII article on how to get business guests...that had some good detail info in it.

 

[gillumhouse]

I partner with a winery on my Bike N Winery package and we did the advertising on a 50/50 basis. I get all the package money - THERY get customers in the door. They also know I funnel ALL the guests I possibly can into their winery.
With my inn-to-inn packages, I learned the hard way to both do the same thing. On advertising we paid 50/50 on costs but I did all the "plowing of fields" for articles etc. but the split was not equitable to the workload (they packed linches and I did the dinners). Now we (new partners) determine the highest room rate, both do the same thing (pack a lunch or include a dinner 0 whatever both do it) come up with the charge - divide in half and add appropriate taxes - different rates - for who gets what. The who gets what is added together for the total charge to guests.
You need to come up with what each partner wants to walk away with from this, add it together plus tax for the package charge and as far as the advetising, it sounds as if you will be equal partners un the venture so 50/50 the advertising. Just make sure each partner is getting full value - to confuse the issue for guests, each of you should add something that is ONLY for those using the package that becomes an added value - remember my 3 or more so they cannot peel off the charges? If you are running all the credit card charges, be sure that your partners agree to share that expense (or up your part of the package to cover the cc processing charges). Have them add you as a rider on their insurance and get a copy of it because if you are taking the fees, you could be liable if there is a problem. (I had to do that with the masseuse since she comes to the house & I make the appointments and because of the liability, I cannot touch the stable fees.)

 

[greyswan]

Thanks for your comments!

 

[Bonne Adresse]

May I ask this - who is doing what - in your estimation are YOU bringing business to the retreat folks or are they bringing business to you? I ask as I think this would play in the % you chose for advertising etc.
Is it a package you are promoting? Or an all out "event" ? Will you be the preferred lodging on the retreat or REQUIRED lodging on the retreat?.

You are bringing up good questions. What I had in mind was to charge % of advertising based on accommodations (I will figure in room rates plus the extras we will provide) vs retreat part. We are both going to promote this on our own websites/blogs & I was going to put on the packages part of the directories I'm on. We would share % of newspaper advertisements. We would be the required lodging as we are doing this as a joint venture. - also they are limited in space to the same size as our guest accommodations.
.

If it's convenient, check reputation of your partner. We belong to bike packages with 2 others inns (We have a bank account for our association) and first year was fine. After, the 2 other inns changed of owners, and things didn't go so right afterwards. We are still together because packages are popular and it is no so easy to see B&B which offers soupers ! (We also choose an 4th inn to extend packages offer but not in the association and we get rid of him because of too many complaints of clients: If we would have checked this B&B, it should probably not happen. But We were too focus on finding whatever partner !)
From my experience, what could have consolidated our association:
* signed contract
* Proof from each partner they are going to do a good jod (check reference, google partner to learn more, whatever you think relevant)
* Who is doing what ? Think about potential problems and keep Murphy's rule in mind: When something can go wrong, it will go wrong
Consider having a common website : Think about what you can learn about your partner knowledge on web marketing (The other side is true for him) and other things. Won't you be pleased to learn internet tips for nearly for nothing ? The more you think this partnership as a team, the more the exchange will be useful (knowledge + network)
Considering google aspects: this common website will be at least promoted by 2 direct links : His website and ours
I will say it is as marriage, at the beginning, all is in pink color. After years, it is not usually the same color you see ! So you have a great opportunity if some checks are previously done
Despite those bad side, an association is in general a great opportunty for new business, develop our network and find new opportunities

 

[Bonne Adresse]

Go back and read that PAII article on how to get business guests...that had some good detail info in it..

Bree, does it bother you to specify the link ? Thanks

 

[Morticia]

Go back and read that PAII article on how to get business guests...that had some good detail info in it..

Bree, does it bother you to specify the link ? Thanks
.

Bree, does it bother you to specify the link ? Thanks

Here's the link directly to the magazine, you have to flip thru it to find the article.

 

[Bonne Adresse]

Go back and read that PAII article on how to get business guests...that had some good detail info in it..

Bree, does it bother you to specify the link ? Thanks
.

Bree, does it bother you to specify the link ? Thanks

Here's the link directly to the magazine, you have to flip thru it to find the article.
.

thanks Bree

 

[greyswan]

thanks for your feedback!! points taken

 

[gillumhouse]

thanks for your feedback!! points taken.

Good luck with your venture. May it be mutually rewarding and always friendly.