Hunting for treasures has been occurring around the world for many centuries, and it continues today as geocachers search for treasurers hidden by their peers. Geocaching is a hobby in which people use GPS coordinates to find the hidden location of a cache containing a log book or trinkets. With geocaching growing in popularity to encompass 3 million to 4 million participants from around the world, according to geocaching.com, the official geocaching website, now is the time to learn how to start a geocaching business.
Establish your geocaching niche. Decide what services or products your geocaching business will provide. For example, some geocaching businesses sell GPS units and other geocaching supplies while others serve as guides for people accessing remote or difficult caches. Research what geocaching businesses are available in your area, and determine where a gap exists creating a business opportunity. Analyze the cost to start a geocaching business in a particular niche as well as the demand for it in the area.
Register your business. Submit the form to obtain a federal tax identification number from the Internal Revenue Service to register your business on the federal level. Contact your state and local department of revenue to collect and pay sales tax on the products and services your geocaching business sells if sales tax is charged in your area. Obtain a business license from your city or county if required to operate your geocaching business.
Obtain equipment and supplies. Contact manufacturers of geocaching supplies to find out if they provide them to retail geocaching businesses direct or use a wholesale distributor. Order supplies to sell in your business. If you operate a geocaching guide business, purchase the supplies you need to make each outing a success. Since you have customers traveling with you in remote spots, have emergency supplies and be trained in CPR and first aid.
Establish your rates. Determine what the mark-up cost for each item in your geocache supply store is based on the initial cost of the product as well as your time and cost running the business. For a geocaching guide, consider your time as well as your transportation to and from sites to meet with clients.
Promote your business. Place an advertisement on the official geocaching website since anyone interested in this extracurricular activity visits the site to find a cache to seek. Hide a geocache yourself, and offer a discount to anyone who finds the cache and can tell you what it was or what was inside it. Consider hosting an introduction to geocaching class for newbies who are interested in the hunt but have never tried it before.