How to Launch an Experience-Based Business

Experience-Based Business

The latest entrepreneur trend is seeing successful businesses tailored to deliver fun and unique experiences. If you enjoy a particular hobby, it makes sense that other people will too. We've seen an interesting shift in social media trends recently, with users moving towards authenticity, and away from the 'fake' lifestyle. Instagram is rife with quotes and captions focusing on living life in the present; gathering moments and memories, not things. The business world caught on, hence the rise in experience-based business startups.

1. Find your passion.

Whatever you enjoy doing in life, do that! It's highly likely other people will share your passion, forming a niche audience you can target.

2. Finesse your niche.

The more niche your idea is, the better! Whoever thought the escape room trend would catch on to the level it has? Or bars offering ax-throwing? People crave unique experiences.

3. Test the market.

Setting up a landing page allows website visitors to pre-book tickets at a discounted rate for a limited time offer. In addition to being a great way to test the market, you can gather data about your target market. Knowing the average age and location of interested individuals will help you choose where to hire a venue if required. Ticket pre-sales give you immediate cash to play with for everything you need to start your business, too.

Have you started an experience-based business? I'd love to hear your story. Tweet me @lorenridinger.