Developing a New Water Park; the First
Step
Leisure Business Advisors (LBA) conducts the feasibility study,
the first step in developing a new water park. 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. These are key
issues for those developing the project.
The study also 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 the construction part of the
developing process can start. Designers, builders, and managers
can all benefit from the guidance provided in the 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 developing a new water park, which follows the
feasibility stage. We could provide a walk-through description and
color artist conceptual images of your new water park 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 water park 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 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.
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.
