A market opportunity report by SFC is designed to answer the most important questions of early stage facility planning and development: How much does it cost to build a sports complex? How big should I build by community recreation center? What does my community need?
The first step in the Concept to Concrete process, the Market Opportunity Report (MOR) is a careful analysis of a variety of market conditions that determine the opportunity for a potential new facility project. The MOR provides clients insight into the business model that aligns with their definition of success, local demographics and socioeconomics, sports participation rates, the optimal facility program (spaces and sizes), estimated construction (hard) and start-up (soft) costs, local competitors, and specific industry factors related to the youth and amateur sports, community recreation, wellness, fitness, and events.
Through work on $10 billion worth of new projects, Sports Facilities Advisory has developed the expertise, experience, and real-world data necessary to understand how successful venues are planned and funded. This document provides the critical market research necessary to move forward in developing a detailed financial forecast, approach early stage investors/partners, and provide concept validation for the client’s vision.
In our initial meeting our team will review the history of the project, data presented by the client, potential partners and stakeholders, and project timelines. Our preliminary market research will encompass demographics, sports participation in the region, and a competitive analysis.
Led by your development advisor, this critical planning session serves as the cornerstone for your project in which we will refine the vision and value proposition and identify strategic alliances, and financial success metrics. For on-site sessions (optional) we will visit the site or potential sites, tour the market, and meet with stakeholders.
Weekly calls or communications ensure SFA clients are engaged in the research and analysis of the study. Clients are provided a draft version of the report and time to review and ask questions. If additional research or areas of interest are identified, the research team is reengaged prior to providing the final report.
At SFC, we’ve worked extensively with over 2,000 communities throughout the country and internationally. It’s this volume of real-world data that allows us to identify the factors that best determine the feasibility of a sports or recreation venue project. It’s also what makes our market opportunity reports such an effective tool for communities and organizations beginning the facility development process.