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Amusement parks, sometimes known as theme parks, offer rides, games, and entertainment options in outdoor or indoor settings. Customers usually pay a single admission price to gain access to the entire park.
A successful amusement park concept emphasizes the whole customer experience, including parking, food options, appealing interactive landscaping, family-oriented fun, and more. Making that connection requires correctly pricing your theme park to optimize profit.
So, for those who genuinely want to understand the theme park industry, here are a few notes.Before you launch your wallet and dreams into an amusement park venture consider these tips! Click To Tweet
HOW TO START A THEME PARK BUSINESS
Creat an Amusement Park Business Plan
You should include your company’s goal, vision, and mission statement in your business plan. In addition, important financial figures like the overall capital investment, method of financing, projected revenue return, and the break-even point should be included as well.
Moreover, you need to know details like the park’s estimated size, the equipment, the workforce, and the working capital investment.
The following are some of the fundamental issues that you must cover in your business plan:
- Initial and ongoing expenses
- Customers to be targeted
- Pricing strategy
- Recruiting workers
- How much profit do you anticipate?
- Where and how to find customers
Legal Aspects of Amusement Park Operations
First, you must register the company. The amusement park industry necessitates several permits and safety regulations that differ from state to state.
To run the amusement park, you must also get authorization from the government. It is crucial to speak with an attorney to ensure that the amusement park company is lawful.
For example, in the United States, many small company owners prefer to establish their firms as an LLC since it protects personal assets and provides additional benefits.
Consider the Cost to Build an Amusement Park
Typically, the bigger your development expenditures, the less likely you are to profit. Indoor venues are often cheaper to develop but also bring in lower revenue.
So, what are the average costs to build this type of facility?
For less than $1 million you can build a small waterpark, although these parks are more akin to park splash pads. On the other hand, fully functioning waterparks cost upwards of $40 million to develop.
Whereas, theme parks that are inside can cost anywhere between $10-30 million to develop.
Purchase Land for an Amusement Park
In order to build an amusement park, you must have a piece of land to put it on. You may either buy the land or lease it. Choose a large plot of land close to important roads that can accommodate all the equipment your facility will need.
If you have a limited budget, you may choose to build a tiny indoor amusement park.
Fabric Structures Can Keep Your Theme Park Open All Year
Extend your profitable summer season by enclosing pools, slides, and other outdoor attractions with custom-made fabric constructions. These fabric structures are designed for safety and long-term durability.
Perfect for protecting your guest against harsh weather!
When it comes to rides and entertainment make sure to choose ones that cater to children as well as for teenagers and adults. You need a little something for everyone.
It would be best to purchase equipment and electric tools from reputable electrical enclosure manufacturers so there are no surprises. Be sure to examine the warranty, installation fees, and after-sales service obligations.
In addition, you must have food and beverage selections inside the park to make things convenient for your guests. Remember that you are not selling a commodity but rather a memorable, enjoyable experience.
Publicize Your Amusement Park
You can market an amusement park in a variety of ways. For example, you can place advertisements in children’s magazines and television channels.
Make sure to have an online presence with a business website and social media. There, you can post fun videos taken at your amusement park as well as an online ticket purchasing option.
It’s also a good idea to make business connections with closeby hotels and lodges so they can tell their guests about your amazing theme park.
Can you think of any other theme park requirements?
Krystle Cook – the creator of Home Jobs by MOM – put her psychology degree on a shelf and dived into a pile of diapers and dishes instead. She is a wife and mother to two rambunctious boys, sweating it out in her Texas hometown. She loves cooking, DIY home projects, and family fun activities.