Advice on making your retreat centre profitable
We own a retreat centre in Ireland, and there are so many costs associated with owning a property. We also don’t sell the rooms like a hotel – it is dedicated to the guests who are visiting on retreats, and our business is very seasonal. Those factors can make it especially challenging to not only make ends meet but to actually turn a profit for our efforts.
There are several things we are doing that seem to be making a difference in our success. 1) We’ve increased our maximum group size to 24 people. 2) We are experimenting with adding different offerings to our calendar (beyond yoga) so that we can attract a broader demographic (e.g. fitness fusion retreats that would also appeal to men). 3) Finding our niche (we attract people who are looking for hotel-style accommodation with max. 2 people per room so they can be very comfortable while on retreat) 4) Pricing ourselves affordably 5) Being friendly, professional, and warm so that our guests and guest teachers recommend us and return.