A sports complex is a great way to bring people together to enjoy recreational activities and improve the health and wellness of your community. While the possibility of developing your own sports center is exciting, it can also be quite intimidating. From planning the activities to securing funding, it’s easy to get overwhelmed by the sheer amount of things you have to do. The secret to running a successful sports center all boils down to strategic planning and preparation.
Here’s what you need to consider when opening your very own sports complex.
Narrow down your contractors
Contractors will be responsible for bringing your vision for your sports complex to life. Depending on the activities you’ll be including in your center, you can find a range of contractors—from a swimming pool contractor to a tennis court contractor—that offers services of varying quality. Just make sure you go with a company that has prior experience in building sports fields.
Do your due diligence and check out their portfolio and speak to past clients. Narrow down your possible choices and ask them as many questions as possible to ensure that you hire the right one for your project.
Seek professional help
Building the facility is one thing, but you’ll also need to oversee site preparation, permit acquisition, funding, vendor selection, and more. This is even before you start thinking about staffing, marketing, and program development once you have your physical location ready. Unless you’ve already got yourself a partner who can individually supervise these various tasks, you’ll need to seek the help and advice of a private sports complex developer who can guide you through the complicated process.
Finalize your program of activities
Although it may be tempting to host just about every sport under the sun, it’s physically and financially impossible to do so. You could try, but it’s a risky endeavor that could end in failure. The best thing to do would be to narrow down what particular sports you want to host, and who you want to cater to.
Take into consideration the weather and climate of your location so you can plan the appropriate program according to the season. You wouldn’t want to plan a swimming program in the wintertime if your area is prone to snowstorms
Draft a business plan
At the end of the day, a sports complex is still a business, so you’ll need to create a solid business plan. This will help you figure out if your business is actually profitable. This is also where you’ll layout your estimated expenditures and how much money you’ll need in order to get the project off the ground.
When shopping around for financing options, a business plan will be needed to gain the confidence and support of potential lenders and investors.
Consider your financing options
Your great idea for a sports center will never be realized if you don’t have the funding to make it happen. Make sure you have a business plan in place which you’ll be showing to investors and lenders to give them an idea of how their money will be utilized. Possible funding options to consider include angel investors, venture capitalists, public-private partnerships, and loans.
Set your plans for opening a successful sports complex in motion with these simple and practical considerations.
