Owning a theme park sounds like a lot of fun when you first think about it. However, it’s after this initial thought that people start to do their research, and realize that it’s a lot harder than it sounds. Sure, you get free rides for life, but you need to put in some hard work and whole lot of capital if you’re going to get started. Want to learn more? Read on.
Will You Franchise?
Your own park is going to be riskier to start a park from scratch, which is why many people prefer to franchise. Franchising your park will be less risky, but don’t assume this means you won’t have to work as hard.
Who Is Your Theme Park For?
If you would prefer to use your own unique idea, you need to know who your theme park is aimed at first. Don’t just create your theme park to generate cash. Make sure it can add value to people, and ensure that it’s based on something you’re interested in. Will you go for a park for children with rides? Maybe you’d prefer a nature based park, or a fantasy park. You could even create a park based on history. Once you have a great idea for your park and who it will target, you can move on to the next step.
Create Your Business Plan
Now you know who your park is going to be aimed at, you can get to work on your business plan. Some people manage to start up in different industries without a business plan, but starting a theme park is going to take years of work and likely millions of investment capital, so a business plan is crucial. In the plan, you should outline your business concept, and perform the appropriate market research. Have a marketing plan, and ensure you also have an idea of financial projections. Having an operations plan worked out is also a good idea. What makes your park different? Will you have a hospitality aspect too? Make sure you know everything there is to know about your park, so it exists fully in your head before it exists in real life.
Truth be told, this isn’t going to be the most exciting part of starting a theme park. However, it’s necessary and will bring so much value in the long run.
Hiring Professionals To Design Your Park
You may have a good idea of what you want your park to look like, but you probably don’t have the skills to figure out exact placement, materials, and other important bits of information. You’ll need to hire professionals with experience to design your dream park.
Pitching Your Park To Investors
Now you have your designs and your business plan, you’ll need to pitch your park to investors. Unless you have millions and millions in the bank, you’re going to want to approach investors who have an interest in similar parks and could potentially invest in yours. Plan your pitch carefully!
Does this sound like something you’d like to do?