The OTM is an internationally unique museum in a subterranean world. A genuine old opal mine, it features and explains mining techniques and the difficult, dangerous and often frustrating lifestyle of the original miners in this remote and arid region.
The 1916 mine is open from 9 a.m. to 6 p.m. seven days a week, year-round. Tours of the mine are self-guided with the aid of ample signage. Written guides are translated into German, French, Italian, Japanese, Chinese, Korean, Dutch, Hebrew and English.
The owners wish to create a relaxed tourist experience
Core Team Members
Business Plan
When Trevor and Rose-Marie Berry took over the Mine in 2005, their vision was to grow the business into Coober Pedy’s premier tourist attraction.
In 2009, despite a world-wide recession affecting the tourism business, visitor numbers have increased by almost 20 % over 2008. The total visitor numbers for 07/08 were 15,996 increasing to 18,934 in 08/09.
The best four months on record have been during 2008/09. July, the coolest month and winter school holidays, remains the busiest month with attendances of 2,819 (90 visitors a day compared with 80 a day last year). June 2009 was the 2nd highest month with 2,513 (81 per day compared with 60 a day in June 2008). In April and May 2009, the Mine had just over 2,000 per month, or an average of 67 a day. The Mine continues to add to the displays and enhance the visitors’ experiences. With extensive and innovative marketing, the owners have successfully bolstered the traditionally low season (summer) visitor numbers, making the visit appealing all year round.
Company Vision & Future
Our Company vision is to be recognised as one of South Australia’s best tourist attraction. To grow the business in to a million dollar a year business. We have managed to increase the Old Timers Mine by aprox 40% in 4 years, we have 3 years on the lease left and am in a position to purchase this business but needs investors to do so.
We have the skills to make the business grow and work strongly with all Tourism associations within Australia and continue to learn and grow.
We are a multi award winning tourist attraction and have our award presentations to show as well as profit/loss statements.
We have future plans to create a Outback film museum and believe Government funding can be sort for the project.
Current Valuation
Our Valuation for the Mine is best shown by Our Finacial viability as per out 2009 award submission.
2b. Demonstrate your financial viability. If your business has not experienced growth explain why.
The Mine has increased visitor numbers by almost 20% and increased turnover - despite the downturn in the world economy and recessionary trends in Australia during the second half of 2008/2009 financial year,
Visitor numbers have increased from 15,996 in 2007/08 to almost 19,000 in 2008/09.
Income has increased from $411,621 in 2007/08 to $462,532 in 2008/09.
The most significant explanation for this robust growth is two-fold. Firstly, overseas visitor numbers showed a gradually increasing trend during the off-peak high heat of summer months, and with the economic downturn many Australians are now holidaying at home, seeking adventures in their own backyard. The work done to promote the OTM with partnerships and build its reputation has had a significant impact on numbers.
Investment continues to be made in increasing the marketing and advertising of the business and attending valuable conferences and trade shows to improve networking opportunities and raise the profile of the Mine.
Exit Opportunity
I perceive that in 15 years we will have turned the Old Timers Mine in to an establishment worth Millions but also as a purchasable product.
Ideal Investor
Money is the most important aspect the Old Timers Mine needs but an investor with previous business savvy and knowledge will be of great assistance and with hard work and proper planning our goals of being on of Australia’s best tourist attractions could be achieved.
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Category: Lifestyle, Food or Travel
Category: Lifestyle, Food or Travel
