An ice arena business plan can be either simple or complex depending on whether you're building from scratch or trying to assume ownership of an underperforming facility already in operation. If you need to construct a new facility, what will the capital outlay be for the arena? Where is it going to be located and what sort of traffic does the area receive? With an existing facility, if the building needs capital improvements or retrofitting, what are those costs likely to be? Have you identified a construction firm to manage the task? The start-up tables should show how you treat these issues. For the market:
• Who lives within 5-15 miles?
• What would the arena's primary purpose be?
• Are there secondary revenue sources, like concessions?
• What arenas are you competing with and how far away are they?
• What is the industry like right now?
• How is it projected to grow over the next five years?
The business plan will also need a detailed personnel plan showing who you will need to hire for the ice arena and when they come onboard. Salaries and timelines should be carefully identified. The marketing plan you'll need ought to show the channels you will make the most use of and the capital allocation to each. This should be reflected in the pro forma which will need to show five years and include a revenue forecast, break-even analysis, cash flow, profit and loss, and balance sheet as well as an appendix for year one. MasterPlans has written business plans for all sorts of arena projects and we can help you as well. Call a consultant today to learn more! 877-453-2011.
