If you are starting an amusement park, it is likely that you will require a business plan. The experts at Pro Business Plans have created many business plans for amusement parks for strategy and investment. This article is designed to provide information about what is included in an amusement park business plan and how it is typically structured.
There are several things to consider when creating a custom amusement park business plan. Such factors include the specific and surrounding location, an analysis of construction costs, and the full selection of amenities offered. For instance, some amusement parks offer complete packages that include access to restaurants and hotels. Other smaller amusement parks may be restricted to ride and games, but not offer housing or restaurant options. Each park can be equally profitable depending on the location and its size. However, it is important to communicate the unique aspects of your planned park to provide a complete investment case.
The business model for an amusement park is dependent upon several factors. Among these are the spectrum of amenities, scope of services provided, location, and site analysis. For instance, some amusement parks are very basic and tailor to the location demographic, whereas others focus on bringing in tourists from the surrounding area or even internationally. Of course, there is a higher cost associated with this marketing and brand development than a smaller family owned amusement park. Both may be equally profitable, but the business model should be clearly outlined and communicated to investors in a digestible way.
One idea held by amusement parks may be that if you build it, people will come. This is a common misconception because people need to be driven to your amusement park, have their budget maximized, and then retained for loyalty. The marketing strategy is therefore often divided into three categories of the initial promotion, ongoing marketing, and customer retention. Many more established amusement parks also have an internal promotion strategy in place that is designed to maximize the revenue generated from visitors.
If you are seeking investment for your amusement park, it is likely that investors will request three to five year projections. These projections are designed to provide information about the key risks associated with the park, map the construction schedule, and forecast the overall investor returns. Most investors will be only looking for a three to five year holding period so unless you are asking for a bank loan exceeding ten years, this forecasting period should be adequate. In many instances, investors may also request custom risk models associated with the amusement park such as a break-even analysis or sensitivity analysis . The most effective way to perform this calculation is to base it on the prior operating history of your amusement park, or compare the financial performance of similar amusement parks.
Regardless if you are opening a new business, or expanding an existing one, having a business plan can help you to make more informed decisions and manage your money. It is also required by many lenders as part of your loan application.
This business plan template is updated annually to reflect the most up-to-date information on how to create a profitable operation. It was created by Chase Hughes, our CEO, and has evolved over hundreds of client engagements over the past 10+ years to become the backbone of operations and management for 1,000s of entrepreneurs.
Project future revenues using real industry data
Fully-compatible with Microsoft Excel and Word.
Critical information for operating and running the business.
Annually updated market research specific to your market.
A Business Plan is a description of the business, market, and expected financials. Plans may be used to increase sales and profitability, outperform competitors, and used to obtain bank loans or investor funding.
For startup founders and small business owners, the Business Plan is a fundamental resource for managing the business and making educated business decisions about the company’s future.
There’s no need to reinvent the wheel, though. There’s a standardized set of information and variables for most small businesses including the financial model, market research, and basic business overview that most executives are familiarized with.
Summary of what it does, how it operates, key staffing and operations procedures, risk & success factors, and management team bios.
Third-party information on the market size, key trends, growth rates, and competition both overall and for a specified region.
Complete financial projections including Revenue, Cost of Goods Sold, and Operating Expenses to produce Profit & Loss statement, Cash Flow statement, and Balance Sheet.
Comprehensive plan including market launch, social media, promotional strategies, pricing strategy, and web presence.
This is a functional model you can use to create your own formulas and project your potential business growth. Instructions will be included on the front page.
