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    2 Replies Latest reply on Dec 25, 2007 12:10 PM by LUCKIEST

    Corporate Retreats

    azre25 Newbie
      I work with investors to develop high end vacation homes as spec or hold and rent as a vacation property. Recently I've been kicking around the idea of targeting small to mid sized business that find value in owning a corporate retreat for team building, executive perks, client courting etc. Taking it a step further, I plan to offer these with a fractional or shared ownership option - making it a little more practical since it is only used occasionally throughout the year.

      More than anything, I'd like to get some feedback on the concept and the marketability of the corporate retreat. Additionally, what is the message - how can the decision makers of some of these companies be reached when many are not as susceptible to traditional marketing initiatives?

      I appreciate any of your comments.
        • Re: Corporate Retreats
          Lighthouse24 Ranger

          I conduct the kinds of corporate retreats you describe. Parts of the U.S. that are within a few hours of a "major league" city seem to have plenty of excellent resort properties that small and mid-sized businesses can choose from. If an area lacks adequate retreat or corporate meeting facilities, it's generally because there are not enough businesses around to support them -- meaning that there might not be enough holders of corporate retreats to share the cost of the facility you're proposing.

           


          That said, I still like the idea. What about expanding the target market (especially in the more sparsely populated areas)? One way would be to develop a multi-use facility that met not only the needs of the small/mid-size business retreat planner, but other major event planners/sponsors (weddings, class reunions, religious retreats, sales promotions, etc.). Another way would be to create a facility that offered something totally unique that could draw people from farther away just because of what it was (e.g., DisneyWorld, renowned golf courses, historic locales, etc.).

           

          As far as reaching the decision makers who'd buy into such a facility, local Economic Development Commissions often get quite excited about something like this being built, and would almost certainly provide useful local contacts. Your banker, especially with a major bank like Bank of America, can provide at least a few contracts in each region. Local chapters of professional organizations often hold regional conferences and retreats, and their officers' names are easy to come by. Local charitable organizations are another good lead. For instance, many local United Way organizations hold a couple of retreats a year to orient and train volunteers, and they need the same things in a retreat facility as business leaders do. The decision-makers in charitable organizations are generally very easy to reach -- but perhaps even better, the "executive boards" of charitable organizations (who often have to approve expenditures on such events) are made up of the same business leaders in the community whom you'd want to reach anyway. Making such a facility available to churches, charities, etc. -- perhaps for free or "at cost" initially -- could be a great way to get prospective business decision makers (who'd potentially buy a share) in the door.

           

          I hope this was the kind of feedback you were seeking. Best of luck!