Do you want to know how much money theme parks make yearly? If YES, here is a detailed analysis of the income potential of amusement parks business owners.
Amusement or theme parks feature rides, games, and entertainment options in an outdoor or indoor venue. Customers typically pay a single entry fee for access to the entire park.
A successful amusement park model focuses on the customer’s entire experience, providing a wide range of services and entertainment options including parking, trams, restaurant options, water parks, roller coasters, live animal attractions, stage shows, arcade games, attractive interactive landscaping, and family friendly fun.
Meanwhile, the bigger the property you own, the more entertainment choices you are able to offer your customers. Your customer base will depend largely on the theme of your park. Some parks focus solely on family friendly entertainment, others work best for teens and young adults, and real – life adventure parks like zip – lines, go – carts, and mixed athletic challenges can target adults.
How Amusement Parks Work and Make Money
Amusement parks generate income chiefly through the selling of standard entry tickets. Nonetheless, add-ons are where the real profit is found and those can include services like food, T – shirts, collectibles, framed photos, and other valuable items.
The rides or theme are the attractions that bring customers to the door, but it is the extras that bring in the main money. Note that small entertainment venues expect their customers to visit for two to three hours.
How Much Money Can Theme Parks & Amusement Parks Make Yearly?
For an arcade, you can charge $10 to $20 for a flat entry fee while more complicated indoor parks may charge $20 to $50 per person. A large amusement park can charge between $40 and $100 per person, depending on variety of amusements and size of the park.
A busy small indoor park can engineer profits of $100,000 to $200,000 per year while the large outdoor venues can generate millions in revenue during the season. Bigger parks are setting themselves apart by offering premium services for an additional cost.
These services include no – waiting for rides, collectible drink cups, photo – ops, loyalty programs, and season passes. The key in this business is to find a service that a customer may want; they will probably be willing to pay for it. To succeed in this business, you have to write a business plan and employ the help of external experts.
To attract investors and efficiently run your business, you will need to develop a strategic plan which you will base on the analysis performed in your feasibility study. Amusement parks require a lot of capital to start, and there is no sense in wasting time and effort if there is no market for your park.
A well detailed feasibility study will take into account potential sites, your park concept, the local market and tourist market, industry trends and local competition in order to estimate costs, revenues, and how many first-year guests you can expect.
Have it in mind that this last number is hugely important, as the number of first – year guests expected will determine the amount you need to spend to build a park that can accommodate them. Project too low and your park will be overcrowded. Project too high and your park will fail due to inability to recoup construction costs.