Water Park Development

Leisure Business Advisors LLC (LBA) conducts the feasibility study, the first step in starting a new water park. Industry consultants typically prepare this study for the developer, and it is generally required by investors and financing institutions. 

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 provides initial physical planning parameters to assist the water park 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 study.

LBA can also expand its feasibility study effort and add conceptual design and master planning services. These could include images of the new water park seen through the eyes of a typical visitor, which would help define the project's "look and feel" in financing and promotional presentations. This effort would also begin the detailed planning process needed to move the project towards completion. This expanded planning effort can be chosen at the start of the consulting assignment, or added after the standard feasibility study has been completed.

John Gerner, our managing director, has been a consultant for more than 20 years and has conducted feasibility studies for many water parks and theme parks in the United States, Asia, Europe, Latin America, and the Middle East. He has been a speaker at the World Waterpark Association (WWA) annual convention. Selected projects are highlighted below.

                                
Water Park Expert Testimony (Niagara Falls, New York)

LBA was retained by Empire State Development, 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 water park development in this court case in early 2009. Harris Beach was the attorney for this state authority and the main client contact. Click here for the court's decision. 
               

Morgan County Aquatic Center (Madison, Georgia)

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.

                                        
Boardwalk at Hersheypark (Hershey, Pennsylvania)
                        
The Boardwalk at Hersheypark is a water park 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. 

                                               
More Details on the Feasibility Study Process

We pride ourselves on prompt service and are sensitive to time constraints. If needed, assignments can be accelerated for an extra fee. 

To learn more about our feasibility study process, click here.

Copyright @2010 Leisure Business Advisors LLC and its licensors.