Setting prices for your fishing charters is not about offering cut-rate trips. Setting reasonable prices shows you value your own service, and that customers should too.
Fishing guides sometimes seem to be engaged in a race to the bottom when it comes to their charter rates. Indeed, we often get asked by captains: “What does my competition charge?” The assumption behind that question is that setting lower rates means you will get more customers. However, we found that this is definitely not the case.
Choosing a fishing charter isn’t as simple as shopping for ketchup
The psychology behind people’s buying behavior is much more complicated than that. Luckily it is! Even though we assume about other consumers and ourselves that we’re just looking for the lowest possible price, this is often not the case.
When it comes to buying something like ketchup, most people will just get the cheapest option. When it comes to something more luxurious, something less everyday, or a special service, most people will include different considerations. For most people, deciding which ketchup to buy depends only on two variables: the price and the taste. When purchasing a service like a fishing trip, however, many more factors come into play.
It’s important to feel like you’re going to get your money’s worth, because you’re spending a good amount of money on a fishing charter. So clients will think about safety, space, comfort, and many other things. Therefore, it is essential that you don’t underprice your trips as a charter captain.
Who would you go with?
Having the lowest rates suggests to customers that your service is less trustworthy than others. Therefore, you should have at least the same rates as other operators in your area, but a bit higher is usually even better. Think about it – if you were to take your family on a fishing charter in an unfamiliar city, would you choose the cheapest guy or the above-average priced guy?
I hope the answer is the latter, because you surely want to keep your family safe and make sure they have a great time. From the customer’s perspective, it’s better to pay $50 more and feel safe than to save fifty bucks but feel insecure about the choice they’ve made.
Moreover, a fishing trip is already an expensive purchase, which makes the difference even easier to swallow. If you’re already paying around $500, which would be reasonable for a half day trip in most parts of the US, you might as well add 10% on top to be safe. When it comes to a longer trip, the relative difference will be even smaller, but you still give people that sense of safety.
Do everyone a favor by being more expensive
If you price your trips slightly above average, you’ll be doing yourself and your customers a big favor. First of all, you’ll be getting a fair rate and will actually be left with something after taking care of your fixed costs. Moreover, having a higher income will allow you to keep your boat in better shape and buy new tackle or equipment from time to time.
That means that customers won’t just be perceiving you as better value because of psychology, as you read above. No, they will actually get better value, because you will be the captain who has a tip-top boat and gear. That will allow everyone to relax, be safe, and focus on having fun and catching fish!
If you are going to use the same boats like everyone you will not be able to differentiate yourself from your competitor. You should do a different selection and explain to your customer why they should trust more your boats and crew experience.
At Riviera Boat we are developing different fishing and pleasure fishing boat to suite the needs of Fishing charter companies. Keep in touch with our expert to explain your idea and your business and lets find the perfect solution for your business….RIVIERA ALL AROUND YOU