10,000+ $50 Museum Tour Tickets Sold with Nick Gray of Museum Hack

Nick Gray

In Episode #407, Nathan interviews Nick Gray, founder and CEO of Museum Hack. Nick thought museums were SO BORING!! Before he launched Museum Hack, he used word of mouth to advertise his idea and give free museum tours to his friends. Now his business is making over 1 million dollars per year.

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Famous Five:

Time Stamped Show Notes:

  • 01:40 – Nathan introduces Nick Gray
  • 02:15 – How did you get into museums?
    • 02:25 – “Renegade museum tours.”
  • 02:40 – Revenue comes from charges for live tours
  • 03:00 – Launched in 2013
  • 03:10 – Over 10000 tours sold last year
  • 03:20 – Total revenue was 1.3 million
  • 03:30 – Average cost is $75 per tour
  • 03:45 – Labor cost is $88 per person
  • 04:15 – Net margin relies on high-end tours
  • 04:40 – In the beginning, they got new customers from word of mouth
  • 05:25 – First year revenue was $60k
  • 05:45 – They want to attract people to keep coming back
  • 06:00 – They need to up their repeat rate
  • 06:15 – There are plenty of people to target
  • 06:40 – He just started paying himself a salary
  • 07:20 – His mom is his accountant
  • 07:40 – He is learning to be a better CEO
  • 07:50 – He supported himself with a full-time job at the beginning of the business
    • 08:15 – He built up savings and committed to his museum business
  • 08:40 – His last job gave him a very healthy salary
  • 09:15 – He has always been a big saver
  • 09:45 – His advice: Treating your passion like your job, and creating a demand by providing that product for free
    • 10:30 – Some passions are worthless
  • 10:45 – His team size is 12 full time and 25 part time, along with remote staff
  • 11:15 – Expenses are up to $80k per month
    • 11:40 – The pressure to break even does not worry him
  • 12:10 – Moms and their lectures on receipts
  • 13:10 – A connection with Trip Advisor
    • 13:50 – “It was just a fluke.”
  • 14:05 – His goal for this year is 2.2 million
  • 14:15 – MuseumHack.com and NickGray.net
  • 15:45 – The Famous Five

3 Key Points:

  1. Create a demand for your product by offering it for free.
  2. Treat your passion like your job until you can transition to that passion full time.
  3. Build up your savings, and be willing to take risks.

Resources Mentioned:

  • Host Gator – The site Nathan uses to buy his domain names and hosting for cheapest price possible.
  • Freshbooks – The site Nathan uses to manage his invoices and accounts.
  • Leadpages  – The drag and drop tool Nathan uses to quickly create his webinar landing pages which convert at 35%+
  • Audible – Nathan uses Audible when he’s driving from Austin to San Antonio (1.5 hour drive) to listen to audio books.
  • Toptal – Great for business people to start building their app
  • The Power of Full Engagement – Nick’s favorite business book
  • Revue – Nick’s favorite online tool
  • NickGray.net – Read Nick’s weekly newsletters
  • Show Notes provided by Mallard Creatives

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