RailBike wins big Westpac grant

Being a part of the Westpac Growth Grants competition is a great learning opportunity for any business, says Paul Chaplow, general manager of Forgotten World Adventures.

The Taranaki tourism company was one of six finalists chosen from 424 applications for a $50,000 Westpac grant.

Paul says the grant application was focused on Forgotten World's new RailBike product and its potential to grow the rail tour business, with flow-on benefits to local Taranaki and King Country communities.

The company's successful Rail Cart tours between Stratford and Taumarunui are running close to capacity, and the next stage of development is the introduction and marketing of RailBike tours.

"You don't need to be really fit to operate the RailBikes. The bike design and the moderate rail gradients mean people with moderate fitness can operate them with ease. It's easier than riding a bike," says Paul.

Having refined the design and ordered the first shipment of RailBikes, Paul says the next challenge is to market and develop the RailBike tours, which are due to begin in mid-October.

"Our Rail Carts are very popular with seniors, but the visitor profile for the more active RailBike tours will be quite different, and will require a different marketing strategy and different promotional channels." He adds that developing a social media marketing plan will be key to the success of the RailBikes.

The top six finalists in the Westpac Growth Grants competition presented to a panel of judges in Auckland in a Dragon's Den style presentation earlier this month and each finalist was awarded two places at the Nurture Change Business Retreat in Fiji, where they can take time out to fine-tune their business growth plans. Paul says the businesses will receive advice from a range of experts and business leaders including former All Blacks coach Sir Graham Henry and Xero Managing Director Victoria Crone.

"We're grateful to Westpac for the opportunity to spend five days focusing on where our business is at, and where it can go. We will be inspired and guided by experts in various fields to take our business to the next level. Just by reaching the finals, we feel like winners."

Paul says while the business wasn't the top winner on the day the experience gained through the process has been invaluable. "We received great advice from not only the panel of judges but the other finalists and we look forward to working with them again later this month."