Views: 9 Author: Site Editor Publish Time: 2020-08-14 Origin: Site
Amusement, or theme, parks feature rides, games, and entertainment options in an outdoor or indoor venue. Customers typically pay a single entry fee for access to the entire park. The successful amusement park model focuses on the customer's entire experience, offering a wide range of services and entertainment options including parking, trams, restaurant options, water parks, roller coasters, live animal attractions, stage shows, arcade games, attractive interactive landscaping, and family friendly fun. The larger the property you own, the more entertainment choices you are able to offer your customers.
Learn how to start your own Amusement Park and whether it is the right fit for you.
Start an amusement park by following these 9 steps:
You have found the perfect business idea, and now you are ready to take the next step. There is more to starting a business than just registering it with the state. We have put together this simple guide to starting your amusement park. These steps will ensure that your new business is well planned out, registered properly and legally compliant.
STEP 1: Plan your Business
A clear plan is essential for success as an entrepreneur. It will help you map out the specifics of your business and discover some unknowns. A few important topics to consider are:
Luckily we have done a lot of this research for you.
What are the costs involved in opening an amusement park?
Even if you are opening a 5,000 square foot indoor facility that offers entertainment like bounce houses, arcade games, and pizza, you are looking at a significant investment of at least $250,000 for the building, design, and installation. If you are seeking to open a major amusement park featuring roller coasters, waterparks, and live entertainment you may be looking for investors interested in a multi-million dollar opportunity. You will need about 200 acres of land that is able to be developed for your purpose and local infrastructure ready to support the anticipated traffic.
What are the ongoing expenses for an amusement park?
Operational expenses are significant and must be part of your annual budget. They begin with but are not limited to:
Operation of restaurants and gift shops
Development of new rides and attractions
Licensing, taxes, and liability insurance
Who is the target market?
This depends largely on the theme of your park. Some parks focus solely on family friendly entertainment, others work best for teens and young adults, and real-life adventure parks like zip-lines, go-carts, and mixed athletic challenges can target adults.
How does an amusement park make money?
The general income is created through the standard entry ticket price. However, add-ons are where the real profit is found and those can include premium prices charged for additional services like food, T-shirts, collectibles, framed photos, and other valuable items. The rides or theme are the attractions that bring customers to your door, but it is the extras that bring you the money.
How much can you charge customers?
Most small entertainment venues anticipate their customers visiting for two to three hours. For an arcade, you can charge $10 to $20 for a flat entry fee while more complicated indoor parks may charge $20 to $50 per person. A large amusement park can charge between $40 and $100 per person, depending on variety of amusements and size of the park.
How much profit can an amusement park make?
A busy small indoor park can see profits of $100,000 to $200,000 per year while the large outdoor venues can generate millions in revenue during the season.
How can you make your business more profitable?
Offer premium services for an additional cost. These services may include no-waiting for rides, collectible drink cups, photo-ops, loyalty programs, and season passes. If you see a service that a customer may want, they are probably willing to pay for it.
Then, when registering a business name we recommend checking if the business name is available in your state, federally by doing a trademark search, searching the web, and making sure the name you choose is available as a web domain to secure it early so no one else can take it.
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