All over the planet, there are successful amusement parks that attract hundreds of thousands of visitors every year and gross millions of euros. Opening one can be a lucrative opportunity for an entrepreneur who has some experience in the entertainment industry. However, understanding how to initiate this initiative requires several steps. A thorough understanding of the coordination between planning, investment and project management must be gained. This is the only way to create a complete business plan. The following steps will show you basic guidelines so that you know what you need to open an amusement park.
Steps
Step 1. Hire an experienced planning firm within the entertainment industry
It should carry out a feasibility study, a business plan and a detailed organization of the amusement park. Opening one requires a hefty investment and a lot of design, so make sure you get targeted suggestions for every step you take.
- The feasibility study analyzes several possibilities: for example, would there be a market for an amusement park in your area? In theory, which theme would generate the most revenue? By examining the possible costs and gains arising from the business, the research justifies the necessary investments and will be a fundamental part of the business plan.
- The business plan defines the necessary investments and expected earnings, but also the type of amusement park, the operating method and the marketing plan. This document also includes information about yourself and your prospective business associates.
- The detailed design of the amusement park consists of two parts. First, enter a description about the terrain needed, the mix of specific attractions you will offer, and the main components you will include, such as restaurants and theaters. Second, add the visual design of the park and a scale model.
Step 2. Present the feasibility study and business plan to the investors in order to raise the capital needed to start the amusement park
Consider reaching out to investors such as banks, entertainment firms, and angel investors.
Step 3. Form your team
You need architects, building firms, landscape architects, and project managers to expand initial planning even further.
Step 4. Choose the place where you will open the theme park
The zoning laws should allow you to build in the chosen area.
Step 5. Obtain all necessary permits and licenses
- Check with your city hall to find out which permits are required to build and operate the amusement park.
- Most cities require a business license in order to open an amusement park.
Step 6. Take out park insurance
You'll need one on the property and one on liability.
Step 7. Build the amusement park
Stick to the original design and timeline as much as possible to avoid costly delays.
Step 8. Hire staff
Step 9. Promote the amusement park in the media
You could offer a special opening discount in order to attract visitors.
Step 10. Open the amusement park
Invite celebrities to cut the ribbon, as well as the national and local press to talk about the grand opening in the media.
