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TWIN RIVER OUTFITTERS

CANOE / KAYAK / TUBING RENTAL BUSINESSLocated on the James River in Botetourt County, VA

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TWIN RIVER OUTFITTERS

• TWIN RIVER OUTFITTERS is a full service canoe livery that rents canoes, kayaks, and inner tubes on the James & Maury Rivers in the Blue Ridge mountains of Virginia.

• We are the oldest and most experienced outfitter operating on the Upper James River and has been safely running river trips since 1978.

• We run trips on nearly 100 miles of rivers in the upper James River Basin area providing a wide variety of paddling opportunities to suit every level of paddler.

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OWNER’S BACKGROUND

TRO is owned and managed by twin brothers John & Dan Mays

– Always wanted to own an outdoor recreation business

– Both had bachelor degrees in business– Both did the corporate job for 10+ years – Always wanted to be our own boss– Both loved outdoors and paddling– Neither of us ever worked had ever

worked in a paddle sports rental business

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COMPANY HISTORY

• James River Basin Canoe Livery was started in April 1978 by Glen Rose in Rockbridge County, VA who ran successfully for over 25 years

• In 2004 the previous owner decided to retire and started looking for a buyer

• In 2004 the Mays brothers purchased property in Glasgow, VA and were in process of starting a competing canoe livery

• In mid 2004 the Mays brothers were mobilized as member of US Naval Reserves and spent 10 months on active duty including 6 months in Iraq

• While mobilized and serving in Iraq was contacted via email to purchase James River Basin Canoe Livery

• Negotiations ensued via satellite phone from Iraq to Lexington, and eventually we decided to purchase existing company

• In May 2005 we purchased the business and renamed it Twin River Outfitters reflecting new ownership

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TRO TODAY

• We run a successful tourism business that serves thousands of customers per year

• Since taking over the company in 2005 we have maintained grown every year from 8 – 20%.

• We own and manage a canoe fleet of 40 canoes, 40 kayaks, and 50 rental tubes

• In 2010 we opened the “James River House” a 5 room inn, located 1 block from our canoe livery business to add a lodging component to our business

• In the future we are looking to expand with a camp ground or rental cabins

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LESSONS LEARNED

• PICK GOOD BUSINESS LOCATION

• SUFFICIENT START UP CAPITAL

• INTERNET MARKETING

• MANAGE YOUR CASH FLOW

• BE ABLE TO WEAR MANY HATS

• ADAPT AND ADJUST

• LONG HOURS

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BUSINESS LOCATION

•KEY TO SUCESSFUL BUSINESS

•LOCATION, LOCATION, LOCATION

•PROXIMITY TO TARGET MARKET

•RIVER FRONT PROPERTY Greatly simplified our operation

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SUFFICIENT START UP CAPITAL

• TAKES MONEY TO MAKE MONEY

• “ROME WAS NOT BUILT IN A DAY”BUT YOU NEED TO START WITH BIG ENOUGH OPERATION THAT CAN SUPPORT YOURSELF

• IT CAN TAKE SEVERAL YEARS TO TURN PROFITABLE, NEED CONTINOUS FUNDING DURING START UP PERIOD

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INTERNET MARKETING• Need an attractive & functional website

• # 1 Way new customers find us is via internet search

• Biggest bang for your marketing dollars, canoevirginia.com & canoevirginia.net

Enter “CANOE VIRGINIA” or a variation and we routinely come up in top 5 search results for Yahoo, Google, & MSN.

• New trends social media (i.e. Face Book), opt in email marketing campaigns

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MANAGE CASH FLOW

• SEASONAL BUSINESS - 85% OF INCOME GENERATED IN 4 MONTHS OF YEAR

• RETAIL BUSINESS DO WELL FROM THANKSGIVING TO CHRISTMAS

• WHAT DO IN OFF SEASON?? Do you need other income sources to make it through the rest of the year???

• NEED SOME YEAR ROUND INCOME, AND DISCIPLINED BUDGETING SKILLS

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MUST WEAR MANY HATS

• SHUTTLE DRIVER

• INSTRUCTOR• SALES GUY• MANAGER• ACCOUNTANT• JANITOR• INN KEEPER

• TRAVEL AGENT• MECHANIC• WEB MASTER• GROUNDS

KEEPER• BUS DRIVER• RIVER GUIDE

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CONTINOUSLY ADAPT AND ADJUST

• MUST BE WILLING TO ADJUST SERVICE MIX BASED ON CUSTOMER DEMAND AND CHANGING TRENDS• Tubing - previous owner did not offer• Kayaking – previous owner had 4, we now have 40• Canoes – less demand• Added lodging component to business• Private boater shuttle service• Cell phone usage

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LONG HOURS

• In season frequently work 7 days a week / 70 plus hours week

• Reachable by phone 24 /7 when customers are on water or at Inn• 6 am canoe campers w/ boats floating down stream• 1 am pick up for Adventure racer who missed take out • 8 pm boat recovery Memorial day weekend

• Definitely not a 9 am – 5 pm job

• Down time in off season

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POSSIBLE BUSINESS IDEAS

• Zip line / canopy tours• Dude ranch• Road biking support

company• Bed & breakfast lodging• Canoe / kayak rental• Horseback riding • ATV rentals• Bait & tackle shop

• Outfitter store• Guided camping trip• Guided fishing service• Paintball company• Tour bus based guided

trips• Summer camp• Camp ground• Cabin rental• Outdoor skills instruction

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BEST OF LUCK STARTING YOUR OUTDOOR TOURISM

BUSINESS

THANKS FOR YOUR TIME TODAYTHANKS FOR YOUR TIME TODAY