How to Budget For New Amusement Park
A lot has been discussed about how much does it cost to build an amusement park.
In fact, there are a number of online posts written specifically to estimate the price of theme parks.
However, most people have failed to address the budgeting process.
Below is an estimated cost of amusement park:
It’s only through a proper amusement park budget that you will be able to account for every item for your park.
- Construction materials
- Labor Cost
These are the key aspects of the budgeting process.
So, how should you go about this process?
Here are 5 important steps to consider:
1. Learn from Other Amusement Park Projects
This could be the easiest part of your research.
There are quite a number of amusement parks that have been built in the recent past.
In fact, the cost estimation of amusement park is based on these projects.
Go for those amusement parks with nearly the same requirements and specifications as the one you’d wish to construct.
You need to ask yourself these simple questions:
- What was the approximate size of the park?
- Which materials were used for the amusement rides?
- Where did they purchase the amusement park rides?
- When was it constructed with reference to the season?
- Who were the contractors and suppliers of the amusement equipment?
You need to confirm all these aspects carefully as they will drop a reference point for anything that you’d wish to achieve in the amusement park rides.
2. Time is Crucial in Any Budgeting Process
What has changed from that time the project you were examining was constructed until now?
Well, cost of labor and material changes with time.
Again, you need to refer to the current market price of every item you want to include in the amusement park.
Moreover, your budget should be time bound.
That is, specify the time you expect to purchase this equipment. This is to avoid price fluctuations due to changes in supply and demand.
Purchase all your amusement park equipment during low seasons – maybe during winter.
The demand for a amusement park rides is quite low, hence, manufacturers tend to offer incredible discounts.
3. Focus on The Core Costs First
List all the main park equipmment you need for the purchasing process.
You need to get an experienced professional who can help you to determine the best suitable amusement park rides.
In most cases, amusement rides manufacturer determines the cost of amusement ride sbased on the materials.
This includes that for the structure and main material.
Again, importing all amusement park rides from one factory can also be a better idea.
These companies will quote the best price that will include transportation cost.
Over the recent past, Chinese companies offer better deals when it comes to this.
Apart from amusement rides, consider the current labor cost.
When there is high demand, especially when summer is approaching, cost of labor could be higher.
4. Draft a Flexible Amusement Rides Budget
In case of any unexpected affairs, you should be able to adjust the budget to accommodate such changes.
Remember, the project management is a continuous process – from the time you have opted to construct the amusement park through to completion.
A flexible budget does not mean you source for more funds to bridge these gaps.
All you require is the ability to tweak the budget to accommodate these changes.
5. Monitor and Review The Installation Process
Well, you may have a good budget, but still you need to monitor the amusement park rides installation process to make sure it is successful.
You need to review the usage of every resource.
Again, you may be required to adjust accordingly depending on the situation at hand.
This is the only sure way to stay within your budget.
You should avoid unplanned work at all cost.
Normally, they will lead to cost overruns.
Budgeting for a new amusement park is a challenging process.
However, when you consider these 5 steps, then it’s possible to get a good amusement park rides within the limited resources.
Consider hiring an expert to help you in the budgeting process.
This is handy if you are new to amusement park industry.