Marketing Analysis of trampoline park business
Before opening a trampoline park, you have to evaluate that how much does it cost to start a trampoline park. The most decisive factor in the success of a startup is its detailed business plan, and the most important section of a trampoline park business plan is the correct marketing analysis. In your trampoline business plan, you must justify that which segment of the society you will target and which services and prices will be the most appropriate to attract them.
You must demonstrate the cost of opening a trampoline park before opening it because this type of business will require a heavy amount for its startup. But don’t worry you will soon be able to balance the indoor trampoline park start up cost with the profit you earn. In case, you don’t have any idea about how much does it cost to open a trampoline park, you can take help from the sample business plans available on the web.
It’s not wise to estimate how much does a trampoline park cost, until and unless you have analyzed the market in which you are going to start your business. Your location and the market demand, as well as your competitors, will decide the costs of your startup. So, it is always better to hire professionals to carry out accurate marketing analysis according to your locality and the demands of target customers in the vicinity.
5.1 Marketing Trends
Trampolining had been considered the most recreational sport for the people in the twentieth century unless the peoples’ interest got waned. The peoples’ interest died down after meeting the accidents resulting from improper exercises such as attempting a somersault without much experience and flexibility. Don’t get despaired, the number of such parks has again increased, as business owners have found ways to avoid injuries during trampolining.
According to the International Association of Trampoline Parks (IATP), more than 563 trampoline parks are operating in the United States and the number is expected to increase. So, if you plan your business carefully finding solutions of the possible accidents, then the trampoline park will surely benefit you.
5.2 Marketing Segmentation
It is crucial to keep in mind your target audience, and then devise your pricing and advertising policy. Marketing segmentation cannot be taken for granted, it should be developed by a detailed analysis of your possible customers.
For assisting you in defining your target audience, we are providing here the sample business plan of Sky Sports free of cost.
The detailed marketing segmentation of our target audience is as follows:
5.2.1 Children & Teens: The first group of our customers will be the children of the residents of Lancing. All the people here are financially stable and can afford this recreational exercise for their lovable children. It is obvious that the children and young teens love to make sky-high jumps in competition with each other. For this age group, we have large sized combined rooms with wall-to-wall trampolines as this category usually come to play in competition with other fellows.
5.2.2 Young Adults: The second category includes the young people who are aware of the benefits of regular exercise and jumping. Such persons don’t just come for the sake of enjoyment, instead, they want to perform the art, which can only be learned on a trampoline, such as positioning the body parts while remaining in the air. Such people usually want separate and mini trampolines for themselves, so we have arranged a large number of mini trampolines and special trampoline dresses for them.
This category will also benefit from the things we provide at our pro shop especially the anti-sweat and anti-stick trampoline dresses.
5.2.3 Others: The people who have come to our park with their children or fellows will enjoy the facility of our cafeteria while waiting for their mates. Moreover, all the children, young and adult will buy their desired items from our pro shop.
The detailed market analysis of our potential customers is given in the following table:
|Potential Customers||Growth||Year 1||Year 2||Year 3||Year 4||Year 5||CAGR|
|Children & Teens||48%||22,334||32,344||43,665||52,544||66,432||10.00%|
5.3 Business Target
Jeff aims at increasing the interest of the people in this sport besides generating sufficient revenue. The business targets are to balance the cost of a startup within the next 3 years of launch and to become one of the best trampoline parks in the whole Lancing.
5.4 Product Pricing
The products in the cafeteria and pro shop will have reasonable and market prices. However, we have the following packages for our temporary as well as regular customers.
- 30-minute trampoline ticket for children for $5
- Membership for adults for $800 per six months
- Yearly membership for $1250 per year
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