All you need is informal training that will expose you to the in and out of managing an amusement and theme park facility. Having a support network in place to turn to during tough times is a major factor of success for new business owners. The possibility of you coming across similar businesses that just closed shop in the location you want to open yours can’t be ruled out. Upload exciting videos there. to include language in your lease agreement stating that lease payments will not commence until a valid CO is issued. Most amusement and theme park facilities tend to operate general services that a standard amusement and theme park facility provider is expected to offer. In business law, this is referred to as piercing your corporate veil. 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. 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. The Amusement Park property will hav an annual appreciation rate of 6%. 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. Start planning. 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. Create your own website. Employ the best building team. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Get the Bplans newsletter: Expert business tips and advice delivered weekly. Check with your town, city or county clerk’s office, Get assistance from one of the local associations listed in. There are several types of insurance policies created for different types of businesses with different risks. AMUSEMENT PARK BUSINESS PLAN TEMPLATE. After a major renovation, a new CO often needs to be issued. For a new amusement park or theme park, this effort can begin with selecting a general overall theme and specific themes for individual areas. 2. Learn more about licensing requirements in your state by visiting, SBA’s reference to state licenses and permits, An amusement park is generally run out of a large outdoor space (though they can be indoors). There is more to starting a business than just registering it with the state. We specialize in Amusement Park business plan consulting for startup companies, strategic business development, and introduction to capital. This is the most common coverage that small businesses need, so it’s a great place to start for your business. We all aware of the success stories of Disney Land, Knoebels, and Cedar Point. 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. Recommended: Read our Best Banks for Small Business review to find the best national bank, credit union, business-loan friendly banks, one with many brick-and-mortar locations, and more. We have put together this simple guide to starting your amusement park. Start your own business plan. When registering a business name, we recommend researching your business name by checking: It's very important to secure your domain name before someone else does. 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. On the other hand, it is important to point out that major amusement park operators in the united states have used their intellectual property rights to major film franchises and entertainment to their advantage, pivoting beloved films and characters into exciting new features and rides to propel revenue and increase their profit margins. Review all building codes and zoning requirements for your business’ location to ensure your amusement park will be in compliance and able to obtain a CO. Preparing/cleaning property, restrooms, and buildings to welcome guests. 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. Marketing for this project needs to flood all media channels including television, radio, traditional print, overactive social media presence and grassroots promotion at community fairs and activities. If your intention of starting an amusement and theme park facility business is to grow the business beyond the city where you are going to be operating from to become a national and international brand, then you must be ready to spend money on promotion and advertisement of your brand. It is not so for sole proprietorships and general partnerships. Certain state permits and licenses may be needed to operate an amusement park business. Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. The industry has a high level of concentration with the four largest players expected to account for more than 80 percent of the total industry revenue in 2017. It's fast and easy, with LivePlan. It is important to state that companies in this industry may also lease space for parties and other shows on a contract basis. Starting an amusement park requires long term planning and a collection of experts to help you execute the plans you have drafted on paper. How to Start an Amusement Park. The most popular themes typically involve adventure or fantasy. Offer premium services for an additional cost. 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. If you choose to start the business on a small scale, you will still need to source for fund to finance the business. The feasibility study is the first step the developer takes to start an amusement park because it provides important physical planning guidance. Most theme parks require space. You may need extensive knowledge in the operation of rides, restaurant and guest services, landscaping design, business practices, and have significant leadership skills. Limited Liability Company, LLC or even general partnership will cut it for you. It's fast and easy, with LivePlan. Aside from your qualifications and experience, it is important to clearly state in practical terms what you have been able to achieve in time past as it relates to your line of business. For information about local licenses and permits: Most businesses are required to collect sales tax on the goods or services they provide. 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 … Here are some of the options you can explore when sourcing for startup capital for your amusement and theme park facility business; Choosing a Suitable Location for your Amusement Park Business. Starting a small business as a Amusement Park. Six Flags Inc. (Six Flags Great Adventure! You have the option of either choosing a general partnership, limited liability company which is commonly called an LLC, or even a sole proprietorship for a business such as amusement and theme park facility. You must be a highly motivated individual ready to sink a large initial investment into the concept, design, and implementation of your amusement park. Starting a Amusement Park Business. So, if you are passionate about making children catch fun, then you should think of starting an amusement park. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses. Even though the business is not considered a Green business in the United States of America, one can comfortably say that the business is booming and open to potential entrepreneurs who are interested in the business. Here are snapshots of three of the mega parks above. An amusement park is a fun place. These steps will ensure that your new business is well planned out, registered properly and legally compliant. 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. 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 Executive, Ticketers/Front Desk Officer, Security Guards and Cleaners. 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. The service delivery as it relates to amusement and theme parks to a large extent depends on the organization and what they stand to achieve. Statistics have it that in the United States of America alone, there are about 624 licensed and registered Amusement Parks that are into franchising responsible for employing about 139,041 employees and the industry rakes in a whooping sum of $18 billion annually with an annual growth rate projected at 5.4 percent between 2011 and 2016. These are some of the basic legal documents that you are expected to have in place if you want to legally run your own amusement and theme park facility company in the United States of America; Financing Your Amusement and Theme Park Facility Business. i wanna start an amusement park business in the capital windhoek and most visited holiday destinations of namibia swakopmund . If you would like to learn more about EINs and how they can benefit your LLC, read our article, What is an EIN?. You need a location where the zoning or land-use requirements will allow a theme park. For information about local licenses and permits: The two most important letters in the theme park business are "IP" It's not enough anymore to offer a thrilling new ride. The truth is that any entrepreneur can model a business after Disney Land in any part of the world and still make huge success from the business. The most common business structure types are the sole proprietorship, partnership, limited liability company (LLC), and corporation. This is why it is very important to gather as much facts and figures before choosing a location to set up your own amusement and theme park facility business. That is why it seems like there are no niche areas in the industry. The process begins by conducting a feasibility study. 9 Best Insurance Policies for Amusement Parks and Their Cost, How to Start a Haunted House Business in 20 Steps, How to Start an Indoor Trampoline Park Business in 20 Steps, How Much It Cost to Get Insurance for a Haunted House, Writing a Trampoline Park Business Plan [Sample Template], How Much Money Can Theme Parks & Amusement Parks Make Yearly, How Much It Cost to Build an Amusement Park or Theme Park, How to Write a Haunted House Business Plan [Sample Template], 11 Best Trampoline Park Franchise Opportunities for Sale, 17 Best Amusement Park Franchise Opportunities for Sale. An industry expert usually prepares this detailed study, which is required by potential lenders and investors. Starting Your Amusement Park Facility from Scratch vs Buying a Franchise. It is important to state that Cedar Fair LP, NBC Universal, SeaWorld Parks & Entertainment, Six Flags Inc. and The Walt Disney Company have lion shares of the available market in this industry. Take our Entrepreneurship Quiz to find out! 3. You will attract your first customers through constant and consistent advertisement in the community with initial entry fees that offer value for the dollar. The Indian amusement and theme park industry has brought in employment for more than 75,000 people. So, when you are drafting marketing plans and strategies for your amusement and theme park facility, make sure that you create a compelling personal and company profile. Best Amusement Park Equipment Supplier Business Plans As a startup amusement park equipment supplier owner, writing a quality business plan is one of the first tasks you need to address. There are many resources out there specifically for women entrepreneurs. Amusement Park will have an annual revenue growth rate of 17% per year. In most states, it is necessary to obtain an amusement park license. 7. 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. Your business plan can look as polished and professional as this sample plan. We are affiliated with Realtors, Builders, Management Companies, Vendors and Dealers, Manufacturers, Distributors throughout North America. This can pose a significant barrier to entry for new players, since the sheer cost of constructing worthwhile rides and attractions represent an enormous initial investment. 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