Services that will be provided by Vertical Reality include: extreme sport attractions, concessions, and a venue for large private or company parties. With the success of the initial opening of the park, additional attractions such as roller coasters will be added. A large amphitheater can be added as well, to provide the area with a concert venue.
In order to begin such a large venture, many assets will need to be purchased. Therefore, funds in the amount of two million dollars are requested. The usage of the funds is as follows: Site: $780,000.
Site Improvements: $150,000.
Buildings: $215,000.
Rides: $595,000.
Advertising: $260,000.
Miscellaneous: $150,000.
Total $2,150,000.
Industry Analysis.
The amusement park industry has experienced massive growth over its lifetime. Since 1990, revenues have increased by 68%. In 2001, total revenues reached 9.6 billion dollars. Even during times of economic recession, the amusement park industry has not faltered, never exceeding the recession downturn figures. For example, if a particular recession shows a downturn of 10% in economic indicators, the amusement park industry will only be down 5%.
The southwest Florida area is notorious for its seasonal economy. However, projections have been made using only year-round residents. Tourists who go to the park will add to the gross revenues. In fact, such a large attraction may even bring tourists down during the off season, boosting the overall economy of the area.
The International Association of Amusement Parks and Attractions is the sanctioning body for businesses such as Vertical Reality. Becoming a member of the IAAPA will give access to an international market, and increase recognition worldwide.
The Target Market.
Vertical Reality will target those individuals who represent the active 25-35 year old age group. Studies show that people who correspond with this mindset range in age from 18-44.
