Research tourism data for your area, as this is another significant factor in operating a successful aerial adventure park. Check with your local Chamber of Commerce or Visitors Bureau to see what data or information they may have available.
Once you have determined these overall numbers, it is important to consider what percentage of these populations participate in an adventure activity, as this comprises your core target market. Will you need to attract two percent? Ten percent?
While we generally see middle-income to affluent families frequenting aerial parks, this could be different in your area. So, when you are visiting other parks or attractions in your intended market area, be sure to note who is visiting, and what activities they are doing. If your potential audience is mostly young families, make sure your attractions are geared to them.
It is equally important to check for industry trends in your area. Are adventure attraction activities on the rise? Are other aerial adventure parks moving closer to your area? Is the industry still growing, or is it starting to reach saturation? Having a few indirect competitors can be a good thing, as they help promote the concept of adventure parks in general. They may even become marketing partners, if you can create some mutually beneficial promotions.
5. The Competition
Researching the competition is a great way to gain valuable insight into local industry data and to determine market share. Even with all the other factors in place, knowledge of one’s competition is crucial. It’s important to determine the scope of your competitors, and whether they provide direct or indirect competition.
We typically recommend researching an area that is within a 50-mile radius of your proposed park, although each region is different. If there are other aerial adventure parks in your market area, there is no better way to learn about them than by paying them a visit. (It’s a tough job, but someone has to do it!) Be sure to observe and note all areas of sales and service, from your initial impressions on their website to parking, and to your experience with the guides.
Equally important is researching your indirect competition in the area. Is there a local kayak outfitter? Rock climbing gym? Mountain bike park? Zoo? Do they serve a similar target market to your proposed attraction? Remember that these indirect competitors could become allies or even partners, so be sure treat them as such.