The most popular themes typically involve adventure or fantasy. A start-up covering 10 acres wouldn't be unusual. Operational expenses are significant and must be part of your annual budget. Start your own business plan. To help you navigate the process, there are a number of business plan software solutions on the market. It's really easy and free! Customers will keep coming back when they have an extraordinary experience from the moment they buy their ticket until they leave the parking lot. In essence, the demographic composition cum target market for an amusement and theme park facility is all encompassing; it is not restricted to any age group, gender, race, tribe or group of people. It is worthy to mention that the industry is dominated by a small number of massive entertainment companies, which have pursued both domestic and international expansion opportunities. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Once construction begins, you will need to start hiring your management team with skills in restaurants, entertainment, property management, and specialized skills for rides and games. You can start your amusement park business from a small town in the United States and if you are consistent and creative, it won’t be long before your brand becomes nationally recognized and you start welcoming children and parents alike from all across the United States of America and other countries of the world. Limited liability companies are simpler and more flexible to operate and you don’t need a board of directors, shareholder meetings and other managerial formalities. The beauty of an amusement park is what draws people to it and how well the park is designed will determine how often people will visit. Here are the platforms you can leverage on to boost your brand awareness and create corporate identity for your amusement and theme park facility business; Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. There are several ways, you can promote an amusement park. We provide Amusement and Theme Park Funding, Project Capital, and Asset Leases. An industry expert usually prepares this detailed study, which is required by potential lenders and investors. Recording your various expenses and sources of income is critical to understanding the financial performance of your business. BUSINESS TYPE Amusement and Theme Park STAGE OF BUSINESS Development (Prior Start-Up) INDUSTRY OF OPERATION Travel and Tourism Hotel and Hospitality Amusement and Theme Parks COUNTRY/REGION/CITY West Africa PURPOSE OF BUSINESS PLAN Business Loan Application Presentation to Venture Capitalists Project Overview to Construction- and Project Manager … There is hardly anything you can do as regards these threats and challenges other than to be optimistic that things will continue to work for your good. 12. You have found the perfect business idea, and now you are ready to take the next step. Your business plan can look as polished and professional as this sample plan. Even if you are opening an small, indoor theme park, you will still need to have knowledge and understanding of all of the following tasks: For the person looking to open a new amusement or theme park, you will need to have a wide range of skills or the ability to hire a team with them. Basically, an amusement and theme park facility that is ready to welcome visitors, primarily children, places gate fees and perhaps ticket fees. I worked for a family amusement park, and was GM of a large 16 screen movie house for 5 years before I was downsized. Some of the factors that encourage entrepreneurs to start their own amusement park facility business could be that the business can easily get support from the government at all levels and the business is indeed a profitable venture despite the huge start – up capital and the high industrial entry requirements. What are the Best Types of Vacuum Cleaner for Hair Salon? Offer premium services for an additional cost. For information about local licenses and permits: Most businesses are required to collect sales tax on the goods or services they provide. I do have a BS degree in Recreation Park Management from Penn State and am CEO of The Bounce House a rental inflatable company in Allentown Pa which is on hold until 2010. If you make the mistake of renting or leasing a facility for your amusement and theme park facility business in a not too visible or hidden location simply because it is cheap, then you must be prepared to spend more in promoting the business. Starting a Amusement Park Business. Here are some of the platforms you can utilize to market your amusement and theme park facility; Strategies to Boost Your Amusement Park Brand Awareness and Create Your Corporate Identity. List of Well – Known Brands in the hospitality industry. There has to be sufficient parking space, in addition to your rides. It is a place of trills, entertainment and obviously amusement. You have such attractions as roller coasters (the favourite of many), game spots, water parks, Bazaars, shops, eateries and even cinemas. Promote your … The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation. Eagle Creek Park Business Plan | FINAL DRAFT Report 3 1.3 PARK HISTORY 1.3.1 PRE-EAGLE CREEK PARK 1934 J.K. Lilly Jr., brother of Eli Lilly, bought a 12-acre tract of land at the site of Eagle Creek Park. Amusement, or theme, parks feature rides, games, and entertainment options in an outdoor or indoor venue. Companies in the amusement and theme park industry basically operate mechanical rides, water rides, games, shows, themed exhibits, refreshment stands and other attractions. You need a location where the zoning or land-use requirements will allow a theme park. Within the United States, there are approximately 2,000 amusement park complexes that operate on a for profit basis or a not for profit basis. AMUSEMENT PARK BUSINESS PLAN TEMPLATE. Learn more about licensing requirements in your state by visiting SBA’s reference to state licenses and permits. A close watch on happenings in the Amusement and Theme Parks industry shows that the industry has grown over the years and it is driven by a rise in international and domestic visitor numbers, and rising consumer spending. If you are considering starting your own amusement and theme park facility business, usually you may not have any need to file for intellectual property protection/trademark. Amusement Park Business All businesses, regardless of industry, face risks that should be covered by insurance. As you start planning your business, connect with a free business resource near you to get the help you need. Most entrepreneurs have a hard time raising enough capital to get their amusement park startup off the ground. Besides, if you decide to open your own amusement and theme park facility today, one of the major challenges you are likely going to face is the presence of well – established amusement and theme park facilities and of course other players in the family entertainment and recreational industry in your target market location. As such, now is a strong economic climate for starting an Amusement Park. Property damage 3. Businesses operating out of a physical location typically require a Certificate of Occupancy (CO). This is the most common coverage that small businesses need, so it’s a great place to start for your business. currently we don't have any kind of fun centers or amusement parks in our country. Having a support network in place to turn to during tough times is a major factor of success for new business owners. If YES, here is a complete guide to starting a amusement park business with NO money and no experience. If your business is sued, you could en… All you need is informal training that will expose you to the in and out of managing an amusement and theme park facility. In business law, this is referred to as piercing your corporate veil. Hype Kids Community Amusement and Theme Park, LLC, Golden Hearts Amusement and Theme Park Facility, LLC, Trans Generational Amusement and Theme Park Facility, LLC. It is a place of trills, entertainment and obviously amusement. If you don’t already have a name in mind, visit our How to Name a Business guide or get help brainstorming a name with our Amusement Park Name Generator. Limited Liability Company, LLC or even general partnership will cut it for you. When you create a destination-park, to which customers travel from far away for their vacation, you need to be able to offer an experience that is difficult to consume in a single day, generating return business. The process begins by conducting a feasibility study. When it comes to financing a business, one of the major factors that you should consider is to write a good business plan. Your building team which will include architects, landscapers, and many others must be some of the best in the business. If you see a service that a customer may want, they are probably willing to pay for it. Start planning. If you can successfully create a unique niche for your amusement and theme park facility business, then you are likely going to experience little or no competition. Please note that most of the big and successful amusement and theme park facilities around started from the scratch and they were able to build a solid business brand. The level of competition in the Amusement and Theme Parks industry to some extent depends on the location of the business, your niche area of operation and of course the capacity of your amusement and theme park facility. These are some of the leading amusement and theme parks in the United States of America and in the globe; When it comes to starting an amusement and theme park facility business, you just have to get your costing cum economic analysis right if your intention of building the business is to generate profits, grow the business and start competing the at national level while attracting clients from all across the globe. It's fast and easy, with LivePlan. Possible Threats and Challenges You Will Face When Starting an Amusement and Theme Park Facility Business. The report also stated that significant opportunities exist for smaller and niche players operating in local or regional markets. With amusement and theme park facility business, you should just try as much as possible to secure a good location then leverage on every marketing tool within your disposal especially the internet to market your amusement and theme park facility. Generally, in business, it cannot be overemphasized that the location you chose to start your business is key to the success of the business; hence entrepreneurs are willing to rent or lease a facility in a visible location; a location where the demography consists of children and parents (people) with the required purchasing power and lifestyle. After a major renovation, a new CO often needs to be issued. You can start an LLC yourself and pay only the minimal state LLC costs or hire a Business Formation Service for a small additional fee. Establishing a legal business entity such as an LLC or corporation protects you from being held personally liable if your amusement park is sued. A large amusement park can charge between $40 and $100 per person, depending on variety of amusements and size of the park. An industry expert usually prepares this detailed study, which is required by potential lenders and investors. Select your state below for an in-depth guide on completing each of these steps in your home state. If you operate a sole proprietorship, you might want to operate under a business name other than your own name. For a new amusement park or theme park, this effort can begin with selecting a general overall theme and specific themes for individual areas. It will help you map out the specifics of your business and discover some unknowns. Starting a small business as a Amusement Park. This separates your personal assets from your company's assets, which is necessary for personal asset protection. In the coming years, industry revenue is forecast to grow as family entertainment centers such as amusement parks will continue to enhance their product portfolios to attract families, despite their reduced leisure time. How to Start an Amusement Park Business? So, if you are looking towards defining the demographics for your amusement and theme park facility business, then you should make it far reaching to include households and families, schools, churches and religious centers, sport clubs, corporate organizations, travelers and tourists et al. As regards the number of employees that you are expected to kick start the business with, you would need to consider your finance before making the decision. This helps you separate personal and business expenses by putting your business' expenses all in one place. How has the Amusement Park Business performed so far and how will it perform in the coming years ? You will definitely need a public address system, computers, internet facility, telephone, fax machine and office furniture (chairs, tables and shelves). Maintaining rides and games to ensure fair and safe operation, Proper food handling and safety practices to provide a healthy restaurant experience, Coordinating with wide range of vendors that help to maintain and repair the facility, Developing a management team able to step in when you are not present, Hiring of entertainment talent for live shows, Caring for live animal attractions and exhibits, Keen eye for the missing entertainment need in your target market, Solid understanding of excellent management practices, Excellent ability to address and respond to customer service concerns, Attention to detail able to identify areas of the operation that require cleaning, maintenance, and repair, Creativity and desire to re-imagine offered rides, amusements, foods, and added-value products on a consistent basis, Knowledge of popular trends and emerging technology that may be able to be included in your park, Ability to build and maintain a strong staff ready to support you and the park at all times, Good understanding of profit and loss and the ability to adjust the business model as needed, Read our guide to find the best small business credit cards, US Small Business Associations directory of local business resources, create a professional release of liability form, Franchise opportunity for a children’s amusement park, International Association of Amusement Parks and Attractions. 11. Who are the Suppliers and Manufacturers of Raw materials for setting up Water Park, Amusement Park ? A business website allows customers to learn more about your company and the products or services you offer. A theme park is a type of amusement park that bases its structures and attractions around a central theme, often featuring multiple areas with different themes. For $39.95 per month, members receive access to hundreds of legal agreements and on call attorneys to get complimentary legal advice. While the industry contended with mounting competition from alternative leisure activities such as bouncing castles, gym and fitness centers and cinemas, many operators generated industry revenue growth on the basis of convenience. the nearest parks are in the neibouring country south africa. The Amusement and Theme Parks industry is indeed a very large industry and pretty much thriving in all parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, China, France, Australia and Italy et al. As an entrepreneur, indoor family-focused amusement parks are becoming more popular as parents look for new ways to keep their kids active and healthy. Amusement park business is perfect for the fun-loving, passionate individuals who want to establish a profitable self-rewarding business. Recommended: Read our guide to find the best small business credit cards. For your profitable amusement business, Henan Byate amusement equipment Co.,LTD provide free park design service for our customers who want to start amusement park project. Create your own website. This is so because the nature of the business makes it possible for you to successfully run it without having any cause to challenge anybody in court for illegally making use of your company’s intellectual properties. Averagely, when it comes to starting a standard amusement and theme park facility business on a large scale, you would need the services of the following professionals; Chief Operating Officer (you can occupy this position), Marketing and Sales Executive (Business Developer), Accountant, Park Safety Instructor/Assistant, Human Resources and Admin Manager, Facility Manager, Customer Services … The Service Delivery Process of an Amusement and Theme Park Facility Business. Most importantly, before choosing a location for your amusement and theme park facility business, ensure that you first conduct thorough feasibility studies and market survey. These steps will ensure that your new business is well planned out, registered properly and legally compliant. 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