A few years into the working world, you can find yourself trapped in the daily grind. You might have a boss that’s a nightmare.
Perhaps your company has unrealistic expectations for its employees. Whatever the problem, you dream of making your escape so that you can do something much more fun.
One business that’s booming these days is trampoline parks. In some places, a trampoline park is such a hot ticket that visitors have to make their reservations days or even weeks in advance. Trampoline parks are fun for the whole family.
Trampoline parks are a great business
Taking a turn in a trampoline park is a great way to exercise and get up off of the couch. You can’t use an electronic device while you’re jumping up and down on a trampoline. Heading to a trampoline park is also a great way for a group of young people to have fun together. It’s an interactive experience, and it’s something that guests don’t soon forget.
If you’re dreaming of putting away those business suits in favor of being your own boss, opening a trampoline park is something you should consider.
If you’ve got a passion for fitness and you think trampolines are fun, it might be the right business for you. You can enjoy the tangible and intangible efforts of being a business owner, and you can help others find ways to get in out of the cold in the winter or escape the blazing heat in summer.
Create a plan
Even though it can seem like a lot of fun, there’s a lot of work involved in your new business venture. Thinking things through and coming up with a solid business plan can make things a lot easier, especially when you’re applying for a loan.
The more you think through now the less you have to think about later. When you plan ahead, you have things thought through in advance, whether you find unexpected success or whether customer numbers lag behind your projections.
There are startup costs
When you open a trampoline park, one of the things that you’re going to need is obviously trampolines. To create a fun and safe environment, you’re going to need a lot of them.
The total cost for these trampolines is likely several thousands of dollars to tens of thousands of dollars. You also need safety padding and stairs so that your guests can access the trampolines.
In addition to that, you need a space to operate. That means leasing or buying property. You also need to think about details, such as installing a waiting area, bathrooms, a front desk area, and more.
Trampoline parks are the most fun when you’ve accessorized. Do you plan to have a foam pit area? Do you plan to have basketball hoops? What about a volleyball net?
Do you plan to use dodge balls in any section of the facility? These are all great things to have but ultimately you need a plan to pay for them.
Where to find cash flow
One way to get the cash you need to start your business right is to take out a business loan. Especially if you don’t want to turn your company’s profits over to investors, a loan can be a great way to get in business.
For this reason, you’re going to need to know how to write a trampoline park business plan for a loan.
A plan is critical
When you decide to get a loan for your trampoline park, the bank is going to want assurance that your business is going to be successful. That means, they’re going to want to see your business plan.
When you’re thinking about how to write a trampoline park business plan for a loan, you need to think through the details of every aspect of the business, from location to equipment to employees.
The person who considers your loan on behalf of the bank plans to scrutinize this information to decide if your business is a good choice to receive a loan.
Aspects of your business plan
When you’re making a business plan, one of the things that you need to think about is marketing. Having a great location, equipment and employees are all necessities. After that you need to think about how you plan to get people to walk in the door.
The way your business reaches out to new customers is called marketing. Marketing is an effort to find your potential customers and let them know why they should pick your trampoline park instead of other options.
Some marketing is expensive, but it doesn’t have to be. Some marketing efforts take a lot of time, and others don’t require so much personal investment.
Even if you don’t have a lot of experience with marketing, you can think through a plan that helps your business reach its audience.
Even if every last aspect of your business is superb, you need to find a way to let customers know. A marketing plan for your business is essential to ultimately securing that loan for your trampoline park.
Budget your resources
Your plan should include how much money you plan to devote to your marketing budget. Another thing to think through is who is going to do the work.
Are you going to take care of marketing efforts yourself, or do you plan to have an employee do the work? How many hours per week do you plan to spend on your efforts?
The marketing plan for your loan application should absolutely include a social media presence. This is one of the most cost-effective ways to reach your audience.
You also have to have a website, and it might be worth your while to make online sign ups an option, too.
Another thing to think through is a contingency plan. What do you plan to do if your park isn’t drawing in as many customers as you had planned by your third month?
Do you plan to change your marketing efforts? This is something that the bank is going to want to know when they talk to you about extending you a loan.
Think about what you ultimately want to say to your customers. You should have more to say than telling them that trampoline parks are awesome. The message needs to communicate the value of your service.
You might state that you help customers live a fit and fun lifestyle while they spend quality time with their family and friends. You might state that you’re an easy way to get off the couch for the thrills and excitement of what a trampoline park has to offer.
Find your audience
Finally, think about who your audience is and where to find them. Are they local or out of town? Are they tweens or young adults, or both? When you identify your audience, you can start to think of places to find them.
When you can describe your intended customer and send them a message about what your business can do for them, you’re on your way to approval for your trampoline park business loan.