How to Start the Business Planning for an Amusement Park in Malaysia
The rise of the interest in amusement park has been increasing since the last half-decade. This has been well expressed by the successful amusement parks such as Disneyland, Cedar Point, and WonderLa around the world. The amusement park in Malaysia is a hit idea too, as the business is self-rewarding.
However, this business requires a large amount of investment and excellent strategic planning. You must search for a large plot of land which has excellent water resource that can fulfill the water requirement for washrooms, water games if any, drinking water facility, maintenance of parks and gardens. It would help if you sourced the right vendors for equipment and retail food outlets too.
Building an amusement park requires a team of experts such as civil engineers, architects, and project consultants. You will need assistance in business plan preparation, land acquisition, building preparation, attraction components, physical parameters planning.
Preparing a Business Plan
We are all aware that building an amusement park may take half a decade to decades. Hence, it is vital to have the right business plan, which has all the details such as the business objective, financial planning, vision, and mission. It will help if you also had a marketing plan intact in a business plan. You must mention the capital investment, financial sources, size of the park, and the staffing required. Always get your business plan drafted by an expert.
Legalities Involved in Amusement Park in Malaysia
The amusement park in Malaysia must meet several legalities and take permission from different departments for safety purposes. It is always recommended to contact an expert who can fulfill all the administrative formalities involved in the construction of an amusement park in Malaysia.
Handling the Finances
With a long period of investment involved in the development of an amusement park, it is essential that you plan the financial details well. A significant part of capital is involved in land acquisition and purchase or development of equipment. You can consider applying for a bank loan or contacting financial agents such as Angel brokering and venture capital.
How to Acquire Land for an Amusement Park in Malaysia?
The first requirement for building an amusement park is land acquisition. You need to thoroughly understand the size of the land you want to acquire. You must ensure that the equipment which will run in the amusement park can be accommodated inland you are planning to buy. If you cannot purchase the land, you can consider the option of leasing the property.
You can also opt for an indoor amusement park. For that, you need a relatively smaller property place in the prime location of Malaysia to attract millions of customers.
Are other Resources Necessary in Setting Up an Amusement Park in Malaysia?
You need to properly plan the resources while drafting a business plan such as:
- First of all, you need to hire experts who can help in implementing the right ideas while developing an amusement park
- The primary attraction in the amusement park is the rides. Thus, the selection of the right ones is inevitable. To cater to the different age group customers, you must have rides which can be fun for kids, young and adults too.
- You need to hire an operational employee. They should not only be skilled but also experienced. Their responsibilities include safely handling the equipment and also dealing with the customers coming to them.
- Plan appropriately for the pricing of the tickets. You must carefully fix a price for the visitors – if you want to set the cost per ride or for full-day entry into the park. However, it would be best if you offer a discount to a large group of people or school visitors to attract customers.
- Plan your equipment purchase with the right vendors. For this, ensure that you have a good warranty deal, installation charges, after-sale services, etc.
- You must give space out to a food court or a couple of food outlets inside the place for the visitors. Not having any food outlet can significantly affect the customer’s visit. On the other hand, a food store can be a source of income too. You can tie up with food franchising outlets who can take care of the entire food court inside the park.
- Always try to give the best experience to the customers as they are visiting the amusement park for fun. Let them take back the best memories with them. Their safety is in your hands.
Promoting the Amusement Park in Malaysia
You must rightly help the upcoming amusement park from the day you acquire land. Developing takes time and consistency. Build your website about the amusement park. You can also publish in kids’ magazine to reach out to your audience. When your amusement park is ready to open, you must tie-up with the tour operators so that they can spread awareness about the park to the tourist. It would help if you considered building a social media profile for the amusement park.
All of these actions will develop and strengthen your business’ brand. However, the amusement park industry is a totally different ballpark in comparison to other business endeavours. Opportunities are undeniably lucrative, but the challenges, risks, and even potential hazards are imminent. Therefore, you need to be persevering, resilient, driven, and professional if you truly want to succeed.
This is a brief guide on how you can start your business plan for an amusement park in Malaysia. There are many new things which you will learn during the process of building the park. Although this amusement park may require tons of capital investment, a right strategic business plan can convert this great investing business into a highly rewarding industry.