A water park is a recreational area that consists of water play areas like splash pads, water playgrounds, lazy rivers, water slides and another waterpark equipment. It is one of the most visited places in the hot weather when it comes to leisure activities and entertainment. An ideal water park is equipped with many attractions ranging from thrill rides to kids play area, making it a popular attraction among kids and adults alike. Water Parks have become wholesome holiday destinations for families on hot summer days.
Why do you want to start a Water Park?
Water park industry has become increasingly popular in the last one decade. North America has the largest water park market and this industry is estimated to grow at an even faster pace in coming years. Consumers are spending more time in the recreation industry and do not mind splurging on water park tickets. The industry is seeing 15% – 20% growth every year, be it new facilities opening or expansions or improvements of already existing waterparks. The rides and attractions have become more impressive to attract more people. As someone who is looking to get into this business, you need to love the adventurous environment and should take active role in all aspects of the aquatic park business. Starting afresh in the water park industry can be overwhelming to the most experienced entrepreneur, so it is important to do a thorough survey in order to know all the intricacies involved in running a waterpark. It is important to have a knowledgeable and experienced management team that does its delegated task in accordance with your intended goals. A business plan about the waterpark business will ensure that you have a clear picture of what your intended goals are.
Review of the Waterpark Industry
Water parks have become very popular as there has been a rise in per capita income that has helped to boost revenue in the industry. Revenues generated by the industry amounts to about $3 billion every year. As this business is seasonal in nature, most of the waterpark business operators run waterparks in areas where the weather is favorable. Due to saturation in the industry, very few new water parks are opening up and the existing waterparks try to retain their customers by providing extra services to them.
Local families, teens, young adults and tourists are most likely to visit any waterpark, and this is the demography to be targeted during marketing and promotions. There is lot of competition in the industry and to stand out against your competition, it is important for you to have world class equipment for your waterpark and also choose an appropriate location for you park which will be easily accessible by locals as well as tourists.
There are more than a thousand water parks in North America and this figure is sure to climb in the coming years. The waterpark industry is providing direct and indirect employment to millions of people.
A proper business plan will prepare you for any threats and challenges that may arise when starting a water park. You have to deal with changing tastes and preferences of consumers as well as the government and industry regulations. Another important thing to keep in mind before you get a business license for your business is to think of a catchy, unique and easily identifiable business name suitable for your water park. A business person, before starting a water park should know that no matter how lucrative your venture is, it is still open to risk. So, it is very important to protect your investment by investing in good insurance policies.
A waterpark should have creative designs to stand out from other water parks. To effectively run a water park business, it is important to have start up capital, business finesse and leadership skills. You can also take professional certification in order to run your business better.
Financing your Water Park
Financing your water park requires a large sum of money so it becomes necessary to source capital from other sources, like investors. You need to have a business plan to show your potential investors that the business will be lucrative and that they will have return on their investment.
Generally, the water park business requires spending a substantial amount of money and so it might be necessary for you to source capital from other sources. And to be able to convince others to invest in your business, it is important to have a comprehensive business plan that will show potential investors how you intend to make use of the money and when they should begin to expect a return on their investment.
Choosing an Appropriate location for your water park business
Location can make the difference between your business becoming a success or a failure. The location for the water park should well be in alignment with your intended business goals and objectives. One needs to pay attention to the regulations and rules with running a water park, so you might need the services of a real estate agent and give him an idea about your budget to help you get the appropriate location for your aquatic park.
Marketing plan for starting a Water Park Business
When you are looking to promote your waterpark, you can do so by keeping your potential customers in mind. Marketing allows you to penetrate the market, create awareness among your customers and to generate revenue for your business. Your marketing strategies should be well in line with your goals and should enable you to compete against your competitors. advertisements, billboards in strategic location can draw attention to your water park business.
Strategies to Boost Your Aquatic Park Brand Awareness
Efforts must be put to promote your business in order to stimulate the interest of your potential target customers. Business owners need to come up set aside some money for promotional strategies that will help their business gain corporate identity and boost awareness for their water park. An interactive website, promotional offers, leverage on social media, etc. can help you promote your brand.
Nirbo is a world class splash pad manufacturer which combines R&D, design, manufacture, sale and installation services together and manufactures recreation aqua park equipment and spray park equipment. We create various high-quality equipment for customers, and use cutting edge technology to manufacture safe and durable spray park equipment by following the most stringent standards of quality control and with the awareness of quality management. Continuous breakthroughs in technology has made us the most competitive splash pad manufacturer of aqua park equipment. We have conquered the water park equipment market to create high quality amusement equipment for our customers and our unlimited fresh ideas have made us the forerunner of water park equipment. We at Nirbo, are making incessant efforts to produce the most environmentally friendly and secure amusement equipment. During the manufacturing and construction process, great importance is given to detail to avoid accidents and to ensure the safety of tourists. Nirbo, as a professional water park facility manufacturer has many years of experience in building unique waterparks according to the customers’ needs. If you are looking to set up your water park in North America, please contact us to learn how we can contribute towards making your water park successful.