6 Considerations to Make Before You Start Your Own Indoor Trampoline Park
Ever since trampolining became an Olympic sport 19 years ago, the demand for indoor trampoline parks has risen fast, and to an extent that it is now considered to be an excellent industry to invest in. However, before you dive in, do go through the following questions first.
Is the Indoor Trampoline Park Business Right For You?
As long as you love fun, exercise and a bit of indoor adventure, you will love being a part of the trampoline park business, but what you will need is capital, and quite a bit of it. Therefore, make sure that you either have the money yourself, or a party/business that is willing to invest into the idea. Although the exact capital which will be necessary for the business is impossible to state without knowing the parameters first, nothing below the million dollar mark is expected.
Do You Know Your Target Audience?
As the owner of a trampoline park, your primary target audience, customers, will mostly consist of children with parents who have disposable income to spend on their children’s entertainment. In other words, your customer base will come from the mid – high income families in your area.
Do You Know How the Revenue Will be Generated?
This one is pretty simple really; you charge your customers on the basis of the time they spend in the park, jumping, running and enjoying themselves. Having pre-designated slots with associated fees is recommended. Additional income opportunities in the form of selling food, refreshments and renting out trampoline gear are also expected.
Do You Have a Plan to Improve and Expand the Business?
Having the basic setup is just the beginning, but in order to improve, expand and break even, you will need a defined plan for the business’s growth. Galaxy Multi Rides offers an extensive guide to improving indoor trampoline parks on their website, so do check that out to learn how you can generate more revenue by adding more attractions and marketing to the right people.
Do You Need Skills and Experience in Any Specific Areas?
No official training or experience is actually required to start an indoor trampoline park business, but if you have run businesses before, that would be a huge plus of course. Basic soft skills like good communication and a general understanding of business should be enough in most cases. However, if you take the time to learn more about the business you are running and the equipment you own, day-to-day operations will become a lot smoother and ultimately, more profitable.
Are You Aware of All the Licenses and Permits Necessary to Open the Park?
Being an indoor business without the chance of too many things going wrong, trampoline parks usually get the necessary permits and licenses they require to operate within the given state, but do you know which ones you need to apply for? Check out the US Small Business Association’s page for more info on the matter and also to apply for them at the same time.
Now that you have the basic questions in front of you, it is time to go through each aspect thoroughly and consider your own answers in respect to them. If you still think you are ready, there is no time better than now to get started in the trampoline park business.