Business Development and Financing

Business Readiness Checklist

Tourism operators who know and understand their level of business-readiness are in a position to make wise, strategic decisions. In the simplest terms, business-readiness describes how ready a destination or operator is to meet the expectations of their target customers.

Tuesday, March 16 2021

Measuring business-readiness – Are you visitor-ready, market-ready or export-ready?

The desired level of business-readiness depends on the goals of the operation. For example, a local non-profit heritage site may be satisfied with attracting largely local visitation during select events. The level of necessary business-readiness, in that case, would be significantly less than an operator seeking to tap into the overseas travel trade market, which expects precise standards and high service levels.

The following self-assessment checklist helps operators gauge their level of readiness and understand where they fit on the path to becoming export-ready.

LEVEL #1

Visitor-ready business or experience

A visitor-ready business has all of its licenses, permits and insurance in place in order to operate legally. It should affirm criteria in points 1-7 to be considered visitor-ready.

  1. Business exists and is open (year-round or seasonally):
    ☐ Yes    ☐ No
  2. Has all licenses, permits and insurance in place in to operate legally:
    ☐ Yes    ☐ No
  3. Maintains a basic website or Facebook listing with limited information and can provide contact information for owner/operator (including contact name, business name, mailing address, telephone number and email address):
    ☐ Yes    ☐ No
  4. Engages in some marketing efforts:
    ☐ Yes    ☐ No
  5. Has some type of tourism offering in place and articulates what visitors can see or do:
    ☐ Yes    ☐ No
  6. Has consistent hours of operation and, if closed or seasonal, responds to inquiries:
    ☐ Yes    ☐ No

LEVEL #2

Market-ready business or experience

A market-ready business actively markets to potential visitors; communicates with potential visitors year round, and is ready to accept advanced reservations. It meets all of the criteria in points 1-6, plus the following:

  1. Has marketing materials with year-round contact information (if seasonal, an automated response should be provided for phone and email) and provides details of what visitors can see or do (brochure, rack card, website or social media presence):
    ☐ Yes    ☐ No
  2. Has published prices and consumer booking, payment and cancellation policies:
    ☐ Yes    ☐ No
  3. Meets or exceeds industry expectations for their sector by participating in specialized training or certification:
    ☐ Yes    ☐ No
  4. During the operating season, a 24-hour response time is maintained for confirming bookings, and 24-48 hours for inquiries:
    ☐ Yes    ☐ No
  5. Is ready to accept advanced reservations online, or by phone and/or email:
    ☐ Yes    ☐ No

LEVEL #3

Export-ready business or experience

Export-ready businesses market to and through travel trade distribution sales channels. Owners/operators understand and are willing to offer commission or net rate pricing, agree to travel trade bookings and have a defined cancellation policy. An export-ready business meets all of the criteria in points 1-11, plus the following:

  1. Engages with industry partners, works with destination marketing organizations, media, etc. to welcome international visitors:
    ☐ Yes    ☐ No
  2. Is prepared to market and partner with travel trade distribution sales channels:
    ☐ Yes    ☐ No
  3. Understands commissions and net rate pricing, has commissionable pricing structures, accepts vouchers:
    ☐ Yes    ☐ No
  4. Will agree to guaranteed trade bookings and pricing as far as 18 months in advance and has cancellation policies in place:
    ☐ Yes    ☐ No
  5. Has detailed domestic and overseas marketing plans, and can provide editorial quality images:
    ☐ Yes    ☐ No
  6. Experience can be adapted to the interests, language and expectations of whichever international market is targeted:
    ☐ Yes    ☐ No

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