Family Entertainment Center Consultants
Leisure Business Advisors LLC (LBA) is a consulting firm that conducts the feasibility study, the first step in starting a new family entertainment center. Industry consultants typically prepare this study for the developer, and it is generally required by financing institutions or investors.
The study forecasts targeted usage by applying market penetration rates to market segments. These rates are influenced by market size, demographics, competition, and the experience of comparable facilities elsewhere. The feasibility study also projects potential financial performance and recommends the maximum development costs that would allow an acceptable return-on-investment to investors. These are key issues for those that may finance the project.
The study also provides initial physical planning parameters to assist the family entertainment center designer during the design stage of development. It is critical that the designs are in line with market needs and expected cash flow. These physical planning guidelines need to be in place before construction and building can start. Designers, builders, and managers can all benefit from the guidance provided in the consultant's study. As part of the feasibility study, LBA can work closely with you in preparing the initial image package that would assist designers in the design stage of development that follows the feasibility stage. We could provide a walk-through description and color artist conceptual images of your new family entertainment center seen through the eyes of a typical visitor. These would preliminarily suggest the general "look and feel" of the new park in financing and marketing presentations. We pride ourselves on prompt service and are also sensitive to time constraints. If needed, assignments can be accelerated for an extra fee. Our standard fee includes travel costs and other out-of-pocket expenses, so there are no unknown charges or set up fees.
Selected past consulting projects are described below. All involved John Gerner, LBA's managing director.
Andy Alligator's Fun Park (Norman, Oklahoma USA)
Andy Alligator's Fun Park is an eight-acre family entertainment center (FEC) with a variety of activities. These include miniature golf, go-karts, batting cages, and bumper boats. An 11,000 square-foot building provides space for games, food service, and parties. LBA conducted the feasibility study for this FEC in 2006. The client was Allison's Fun Incorporated.
Foxfire Mountain (Sevierville, Tennessee USA)
Foxfire Mountain is a popular adventure park in the Smoky Mountains tourist destination area. It offers a zip line tour, an all-terrain vehicle (ATV) tour, and a swinging bridge. It is considering future expansion, and LBA was retained in 2012 to help define the direction of this future expansion effort.
NASCAR SpeedPark Chain (USA and Canada)
NASCAR SpeedPark is a branded outdoor family entertainment center offering a variety of go-kart tracks and other participatory activities. In 2005, LBA evaluated the operation of the entire NASCAR Speedpark chain of centers as a subcontractor to Economics Research Associates. The client was Burroughs & Chapin Co, Inc. That company later sold its leisure attractions to PARC Management LLC.
Andretti Thrill Park (Melbourne, Florida USA)
Andretti Thrill Park is a six-acre family entertainment center that features multiple go-kart tracks, miniature golf course, batting cages, paddle boats, train ride, kiddie rides, and a playground. Inside its 17,000 square-foot main building, it provides games, food service and party rooms. LBA conducted a business valuation of this FEC in 2006. The client was MTP of Brevard County, Ltd.
Valuation of Former Fun Park (Florence, South Carolina USA)
Mister Mark's Fun Park was a family entertainment center that was built in 2003 and closed in 2008. LBA was retained by States Resources Corporation in 2009 to conduct a business valuation of the former center in anticipation of a foreclosure on the client's loan to the original owner.