Concept and Planning
The first step in building a theme park is to come up with a concept. This concept should be well thought out and clearly communicated to the design team.
When you invest in a theme park, you help provide a space for positive emotions and mental stability. Building an amusement park requires considering several factors:
- Select the type of park: a thrill-based park or a water park.
- Plan your business by doing a feasibility study to look at all the critical issues.
Cost and Feasibility
Generally, waterparks cost between $10 million and $40 million to build, whereas indoor theme parks require $10 million to $30 million. The number of first-year guests expected will determine the amount you need to spend to accommodate them. Overestimating or underestimating this number can lead to overcrowding or financial failure.
In 2019, revenue from amusement and theme parks in the U.S. amounted to over 22 billion dollars. The Indian amusement industry has been growing annually, with significant increases in revenue expected.
Starting a Theme Park
To start a theme park, you need to:
- Plan your business.
- Form a legal entity.
- Select the type of park.
- Conduct a feasibility study.
Additional Insights
Visiting theme parks on Tuesdays and Wednesdays can help avoid crowds, with Saturdays being the busiest.
Theme parks intricately design themes around particular subjects, setting them apart from amusement parks.
Financial Considerations
The feasibility study provides important guidance for designers, construction companies, and management. Construction costs vary, averaging between $250 and $600 per square foot. Customers typically pay a single entry fee for access to the entire park.
When starting a theme park, consider:
- Startup and ongoing costs
- Target market
- Entry fees
- Location and weather
- The name of your park
Your business plan will cover the business concept, market research, marketing plan, operations plan, and financial plan.