How to Start a Skating Rink
Skating is not only fun and great exercise, but it is also can be enjoyed by people of all ages, making it a great family activity. It can be done year round, which makes it the perfect activity for scorching hot, cold and rainy, or long winter days. For these reasons, starting a skating rink can be a very profitable business venture.
- Research. The first step in starting a business is to do some market research. Find out if there are any existing skating rinks in your area that would provide competition. Compare the revenue and expenses of various existing skating rinks. Some companies specialize in helping with the start up of skating rink businesses. A simple online search would provide contact information for these companies.
- Determine the local demographic. An area abundant with families is more apt to take advantage of a local skating rink.
- Calculate possible investment options. Determine how much money you could personally invest in the business. Explore other possible individual investors as well as bank loan options.
- Locate a space. Choose from several options, such as buying, leasing and building a new space. There may even be an existing skating rink that is no longer in business, but can be purchased and renovated.
- Create a business plan. Most lenders require an extensive business plan before approving new business loans. Include your market research, as well as expected costs and revenue.
- Apply for building permits and begin construction. Whether it is totally new construction or remodeling an existing space, allow time and funds for this process. Be specific about your plans and the timeframe in which the work should be accomplished.
- Order supplies. This includes anything you will need to run the business, such as skates and concession items.
- Hire employees. Search out reliable and trustworthy employees. This can be done by placing classified ads or word of mouth.
- Advertise. Marketing is an ongoing part of owning a business. Promotions, ads, coupons and other means of attracting customers are vital to the success of any business.