If you think back to being a child, you’ll remember all the beautiful, sunny days you spent at water parks. There is no denying that they are a very wholesome vacation destination for people of all ages. Water parks are filled with days of adventures, laughter, and fun for everyone.
If you like the sound of that, a water park business might be in your future. Just because water parks are packed with fun, it doesn’t mean that starting a water park business will be. Just like any other business, there will be responsibilities and business aspects for you to take care of.
If this sounds like something you can handle, let’s look into how to start a water park business.
Understand what you’re getting into
Enjoying fun-filled days at the local water park is a lot different from running said water park. Water parks are gaining popularity like never before. In fact, the usual yearly revenue in this industry is roughly $3 billion, with plenty of growth to uphold that statistic.
According to IBISWorld, there are over 156 water parks in the United States, and between them, they employ around 50,000 people. It is a very saturated industry which is why you rarely hear of new water parks these days.
You also need to remember that water parks are seasonal in nature, and many owners prefer to operate their business only when the weather is favorable. If you want to get into the water park industry, know that it takes a fair amount of work to see success.
Do your research
Research is important before any business venture. To ensure that your business is going to be as successful as possible, you need to put in the work. Books, blogs, articles, podcasts, and online courses are fantastic sources.
When you do your research, you will also understand your target audience further. For example, your waterpark business is more likely to attract families, teens, and tourists, as opposed to singles. When you understand your target audience, you will be able to target all your promotional efforts.
Now, let’s take a look at the steps you will need to take.
Creating a clear business plan should be the first step in launching your business. It will further your success and set the foundations for your business. A few things you should consider are:
- What is the name of your business?
- What is your business logo?
- What are the start-up costs?
- What are the ongoing costs?
- How much do you charge?
Legal entities and insurance
Next, you will need to form a legal entity. The most common ones are:
- Sole proprietorship
- Limited liability company (LLC)
Forming a legal entity, whether a corporation or LLC, will protect you from being held personally liable if your water park business is sued for any reason. You will also need insurance to operate lawfully.
Define your brand
If your water park is the best in the business, market it as such. Ensure that everyone, everywhere, knows exactly what your brand is about. A strong brand will always help your business stand out from your competitors.
If a water park business is in your future, then this guide has everything you need. Once you have dealt with all of the legalities, take pride in your business and brand. This way, you can ensure that your target audience is satisfied. In a few years, your business will be turning a great profit and thrilling people of all ages.
Get Started Today
Are you ready to start your own prestigious waterpark business? Get in touch with Water Warrior Services today to start your dream water park business. We are a turn-key solution that provides water inflatable services, planning, design, installation, training, and operational support to ensure that investments work for customers.
We are the one-stop-shop for all of your waterfront recreation. Creating the waterpark of your dreams has never been easier.