Tourism Risk Management

Maine TAC

October 24, 2006

Content

1. Negotiations & Deal Making• Deals that evolve into contracts happen daily in

Business• Basic Contract concepts, such as consideration,

legality and capacity• Most important: Does the final deal reflect your

expectations clearly? Successful deal making requires accurate communication

2.Collaboration• What are the benefits vs. the risks of

collaboration?• When and for what specific goals will

collaboration enhance your business?• Guidelines for making collaboration formal

or informal.

Content

3. Growth• Managing your business form

is your responsibility• Growth in your market usually requires

growth in your operations, which increases your operating risks. An understanding of the different

business forms available today gives you options in handling those risks.

• How do you change business forms midstream (i.e. Sole proprietor to LLC)

Content

4. Employment Law• What laws must you know and understand • How do employees learn of their rights vs.

employers? You can build a team to help ensure safe compliance

• How do you stay current on employment law issues?

Content

5.Risk Management

• Identifying legal risks to your business( Premise, product liability, financial, personnel, contracting, et al) Protecting your business when legal risk issues arise

• Planning ahead to avoid potential suits and complaints Costs of Litigation vs. ADR

Marketing Plan

• Product– 5 Seminars, 2 Per Year, 2 Hours Each– DVD’s from Edited Video Tape of Earlier

Seminars • Sold separately at the Seminar Site

• Distribution– Compressed Interactive Video to the 7

UMaine System Campuses– Capacity: 10 – 12 Seats at Each Campus– Timing: Spring and Fall Shoulder Seasons

• First Opportunity: April 2007

Marketing Plan• Promotion

– Direct Mail Through Trade Associations– CenTRO Website

• Video Clips of Workshops

– Press Release

• Price– DVD Likely $20 Range

• Must Cover Cost of Video Production Services

– Seminar: Estimated Breakeven at $35• 40 out of minimum 70 Available Seats