Ulverstone is a pretty coastal resort with an interesting museum, some pleasant places to stay and great food.
From Ulverstone you should head out to Gunns Plains, where there are a whole host of attractions. You can visit the Gunns Plains wet cave which makes a fantastic trip. For animal lovers go to the Pindari Deer Farm and the Wings Farm Park, both home to a collection of lovely animals. South again is the marvellous Leven Canyon, which is also worth a visit.
If you are planning on heading west from Ulverstone, then you should definitely drive along the pretty Old Bass Highway to Penguin. The beautiful landscape is picture perfect and makes for a very relaxing drive.