Having a clear plan is critical to the success of a water park. It will help you plan your business details and discover some unknowns. Some important topics to consider are:
What is your budget cost?
How much land do you have to build?
Who are your target markets?
How long do you want to break even?
What’s your company name?
The following may help you.
How much does it cost to open a water park?
The associated costs depend heavily on your short- and long-term goals for the park. Your first and most important investment will be on land. When choosing your location, study the areas you want to consider carefully. Choose a densely populated area that is centrally located for easy customer access. If you plan to run a large tourist attraction, choose a city with an airport or parking lot. Visitors from other states, cities and countries will be ready to begin their experience. If they have to travel a few more hours to reach their final destination, they may decide to make other plans. Experienced water park owners recommend buying 8 to 15 acres of land, depending on the type of water park you plan to build:
The indoor park averages about 8-10 acres, with an average construction area of nearly 25,000 square feet.
Outdoor park takes 13-15 acres
Indoor and outdoor facilities require 9-12 acres, with an average building area of 23,000 square feet.
After purchasing the land, meet with experienced consultants and contractors to begin the planning process.
Construction costs will depend on the size of the facility you want to build and the facility you are building in the country, but the average price is between $ 250 and $ 600 per square foot. The report shows that having a 2,720-square-foot indoor park will cost you nearly $ 690,000. These costs include: buildings, HVAC, swimming pools, machinery, snack bars, support areas, themes, water slides and entertainment equipment. For the same building services, a 9450 square foot indoor park will approach $ 2.5 million, with an average of $ 273 per square foot. The owner of the proprietary outdoor park reported a start-up cost of approximately $ 1.5 million.
Don’t let these numbers stop you. To save costs, many park owners have purchased enough land to realize their vision, but start with basic conditions that fit their budget. As the business recovered, they reinvested some of their profits into the business, increasing their attractiveness over time. In addition to saving startup budgets, this helps retain customers. Families are eager to return because they are eager to learn about new changes. They are beginning to feel like they have been integrated into the process and will develop unparalleled loyalty.
What is the daily cost of the water park?
Quantifying the daily costs of a park is very difficult because there are many factors that directly affect these numbers. Here are what you should include in your monthly budget:
Attractions, facilities and equipment maintenance-Preventive and predictive maintenance programs can save you tens of thousands of dollars.
Utilities and chemicals-plus maintenance costs, on average account for about 8-12% of your operating costs.
Construction of new attractions
Operating Supplies-3-5% of Budget
Continuous employee training
Salary-personnel costs will account for 50-80% of your operating budget, depending on the scale, operating time and staffing levels required to maintain a secure customer experience.
Who is the target market?
Many parks can meet the needs of customers of all ages. For some, tourists cover most of their customer base. For others, local families, teens and young people are the focus of their marketing efforts.
How do water parks make money?
The water park charges an entrance fee for each entering tourist. Many provide additional activities and services-such as food and equipment rental and accommodation-which can increase visitor satisfaction and profit potential.
How much can you charge your customers?
Some parks are free of charge, regardless of age (2 years and under), while others offer special prices based on age or height. If you have a lot of rides with high requirements that would exclude a large number of customers, consider choosing the latter. Some parks charge an average of $ 43 per person. Prices based on age / height are approximately: $ 48 for 48 inches and higher, $ 27 for those below 48 inches, and $ 17 for senior and military personnel. Fees include park tickets and unlimited water slide rides. Charge customers for additional services and attractions.
How much profit can the water park make?
The industry has achieved significant growth over the past decade and is expected to continue to grow at a rate of about 3.5% per year. Although there is no public information on the potential profits of water parks, research does show that more than 375 million tourists visit these places in the United States each year. With a well-thought-out operating strategy, your park can profit from billions of dollars in industry profits.
How can you make your business more profitable?
Many parks have expanded their range of goods and services to include not only waterslides / cycling trails. To make your business more profitable, consider implementing some of the following strategies:
Make the hotel a true resort by building it as part of a water park.
For a nominal fee, local businesses can display signs in parking lots and throughout the park.
From the beginning, invest in water recycling and energy efficiency programs. Your initial cost will be higher, but you will save a lot of money over time.
Preferential group prices, state resident discounts and annual passes
Includes additional services at an additional cost-cabins, lockers, souvenirs, food and private ballrooms.
Other recreational activities are offered, such as mini golf, go-karts, climbing walls, bumper boats and games and redemption centers.
Provide retail space for tenants to rent. This will help reduce management costs when you support other businesses in the community.
Special events during your “vacation” season. During Halloween, haunted houses are being built in many parks, attracting a large number of tourists every day.
Rather than build a concrete park, turn Mother Nature into yours. Entrepreneurs have found success in open places such as Bob’s Riverside Mall, where visitors can raft on the boat, swing, slide, jump into the platform, roll wood, volleyball, barbecue and picnic. Since you use natural resources to your advantage, startup and ongoing expenses are only a small part of the cost.