Leisure Business Advisors LLC (LBA) is a consulting firm that
conducts the feasibility study, the first step in starting a new
family entertainment center. 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 family entertainment center 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.
Selected past consulting projects are described below. All
involved John Gerner, LBA's managing director.
Andy Alligator's Fun Park is an eight-acre family entertainment center (FEC) with a variety of activities. These include miniature golf, go-karts, batting cages, and bumper boats. An 11,000 square-foot building provides space for games, food service, and parties. LBA conducted the feasibility study for this FEC in 2006. The client was Allison's Fun Incorporated.
Foxfire Mountain is a popular adventure park in the Smoky Mountains tourist destination area. It offers a zip line tour, an all-terrain vehicle (ATV) tour, and a swinging bridge. It is considering future expansion, and LBA was retained in 2012 to help define the direction of this future expansion effort.
NASCAR SpeedPark is a branded outdoor family entertainment center offering a variety of go-kart tracks and other participatory activities. In 2005, LBA evaluated the operation of the entire NASCAR Speedpark chain of centers as a subcontractor to Economics Research Associates. The client was Burroughs & Chapin Co, Inc. That company later sold its leisure attractions to PARC Management LLC.
Andretti Thrill Park is a six-acre family entertainment center that features multiple go-kart tracks, miniature golf course, batting cages, paddle boats, train ride, kiddie rides, and a playground. Inside its 17,000 square-foot main building, it provides games, food service and party rooms. LBA conducted a business valuation of this FEC in 2006. The client was MTP of Brevard County, Ltd.
Mister Mark's Fun Park was a family entertainment center that was built in 2003 and closed in 2008. LBA was retained by States Resources Corporation in 2009 to conduct a business valuation of the former center in anticipation of a foreclosure on the client's loan to the original owner.
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Email Address for Initial Inquiries:
info@leisure-business.com
Office Address:
Leisure Business Advisors LLC
2010 Princess Anne Avenue
Richmond, VA 23223 USA
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