Leisure Business Advisors LLC (LBA) is a consulting firm that conducts the feasibility study, the first step in starting a new waterpark. 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 waterpark 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 waterpark 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.
Selected past waterpark consulting projects are described below. All involved John Gerner, LBA's managing director.
Water Park Expert Testimony (Niagara Falls, New York USA)
LBA was retained by Empire State Development Corporation, a public authority of the state of New York, to evaluate the feasibility of reopening Fallsville Splash Park in Niagara Falls. It was the subject of a New York State Supreme Court case. John Gerner served as an expert witness in tourist attraction development in this court case in early 2009. Harris Beach was the attorney for this state authority and the main client contact. In the court's decision filed on April 5, 2010, it states "the Court places additional reliance on the testimony of John Gerner. Mr. Gerner is a leisure industry expert." Click
here for the court's decision.
Boardwalk at Hersheypark (Hershey, Pennsylvania USA)
The Boardwalk at Hersheypark is a waterpark area of the theme park that opened in 2007. It includes a wave pool, lazy river, seven slides, and a children's play area. Gerner Consulting evaluated the market and financial potential of water park activities for Hersheypark management as a subcontractor to Economics Research Associates.
Morgan County Aquatic Center (Madison, Georgia USA)
The Morgan County Aquatic Center opened in 2009, and is a public facility operated by the Morgan County Parks and Recreation Department. LBA conducted a feasibility study for the aquatic center as a subcontractor to Doran & Karwoski, Inc.