Have they forgotten the mortgage and the legal bill?
Of course they have, Joe
Don’t be silly
So while they’re patronising the public with their presentations on Bottle Arranging for Beginners, A Spotter’s Guide To Rotting Vegetables and “Another Year, Another Ounce” - The Mankwold Story, who’s going to be running the farm?
Tony, probably. It usually ends up being Tony.
How long, at a conservative estimate, would it be likely to take for this Centre to recoup half a million pounds? I mean, what takings are they expecting per week? At £750 profit per week it will take well over a hundred years to repay the investment, and I simply don’t believe that there are enough people in the world who want to be lectured about making cheese for it to make more profit than that, unless they charge really silly prices.
Well, price setting is a famously tricky thing. The simplest approach is the demand curve
which could be summarised as “drop the price, sell more units”, but particularly when you get reputations coming into play you can get all sorts of edge effects. Set the price too low, and people will think “oh, it can’t be any good, I won’t bother”.
I assume the running costs will not be huge, as Helen the Mistress of Cheese will be paid out of the profits (ho ho). Lighting and heating and so on can be made cheap by making the building more expensive.
If I were trying to make this enterprise profitable, I’d set a ridiculously high official price to make potential customers think it was exclusive, and then quietly offer discounts to individuals to make them feel valued.
I assume that it has to be something people actually want: how many potential cheese-makers are there in the country? Who are not already doing it?
I posted on Peet’s … this place, near Ludlow (lovely town btw … it’s September food festival is outstanding) does exactly what they are dreaming wildly of. It is a tourist destination in its own right and does all this to a fine art. Their taking I’d would hazard are over £10k a day on an ordinary day. High summer & festival time it could be several times that.
But it’s taken years, has developed organically (ie. in natural steps, not odd moments of wild enthusiasm) and is on a main road en-route between the 2 foodie towns of Ludlow & Shrewsbury.
I have a feeling that it employs more than three people, too.
And almost certainly wouldn’t employ the likes of Helen or Tom.
I shall be going to Tebay tomorrow. Now there’s a farm shop worth visiting! It has a motorway running through the middle of it, of course. Maybe Justin could arrange for that to happen.