Factors of Success and Failure in Indoor Sports Facilities
Tackling the creation of indoor sports facilities is a daunting task for any community. Every project, from simple grass roots programs to multi-million dollar proposals, has several obstacles to face in the design and proposal stage. Knowing how to plan for success will set any size project off on the right footing. A few factors to consider from the very beginning include market feasibility, structure design, and funding development.
When planning indoor sports facilities it is important to identify a target market for the customer base. Questions such as: Who will use this facility? What can the community afford? What does the community need? And is there competition in the community? Market feasibility studies are the first step in answering these questions and much more. When commissioned, a study will determine market conditions as they exist and help identify any gaps in the market that a new indoor sports facility might fill. Combining this with a construction estimate will prevent duplication in recreational opportunities and ensure profitability of the project.
Facility planning can begin, after completion of the feasibility study. Successful indoors sports facilities should address the community needs to increase profitability. Commercial zoning and availability of existing structures will determine the structural design of a facility. Construction cost estimates simplify the choice between renovating an existing structure or building new. Remodeling an existing structure to better meet athletic needs in the area might be a better structural design fit for the project. However, it is important to consider that indoor sports facilities endure a lot of wear and tear throughout their lifetime. If existing structures are not viable, building a brand new facility is the best option for success.
Market studies and structure design are the dream stages of a business plan for an indoor sports facility. Gathering funding for the project is where the plan comes into action. Private funding opportunities for the land and building are available through commercial banks, private investors, and real estate company partners. There are other alternative sources available as well. Municipal awards, grant sources, and marketing partnerships can provide development funding. Additionally, Grantwatch.com is a resource for state and federal funding for a variety of projects. Regardless of how the funding for an indoor sports facility is pieced together, it is essential to have one group coordinating this effort to ensure the flow of capital will not slow down the project timeline.
Sports Facilities Advisory, a world leader in facilities planning and management, offers services to coordinate indoor sports facility planning. At each stage, critical guidance will steer the project toward success.