The increasing popularity of paintball for sport and for fun has opened a new business opportunity for entrepreneurs. However, this line of business is not isolated to the business-minded individual; people who simply enjoy paintball can also partake in the commerce of this growing activity. According to StyleCareer.com, paintball ranked number three in the top twelve extreme sports and had over 9 million participants in 2004. Like any business, several factors must be considered prior to undertaking such a venture. These generally include business location, prospective clientele, goals for the business and potential profits, to name a few.
Instructions
1. Formulate a business plan. Creating a business plan is imperative because it helps you, as the owner, identify your objectives in creating the business. It also gives potential investors a formal outline of your business goals, how the business will be run and how the goals will be attained. A business plan for a paintball business might include how your business will outperform the competition, why customers will find your business desirable and how profits will be attained relative to potential expenses (see Resources below).
2. Consider a location. Location is crucial for the sport of paintball because players must have ample space to play competitive paintball games. This usually consists of a large field with various props for players to hide behind or use as shields. The larger the field, the more potential games that can be played at a time, which can lead to more profits. However, increased space generally means increased expense, so consider this when examining a lease or real estate contract. It is also important to ensure that this land has or can get the appropriate zoning for a commercial paintball field.
3. Search for wholesale equipment. Paintball equipment is much less expensive when purchased in bulk. Many wholesale companies provide bulk discounts or charge less to business owners who will be frequent purchases. Equipment necessary includes face masks, paintball guns and paintballs. Some players may bring their own equipment; however, it is still necessary for any players who cannot provide their own gear (see Resources below).
4. Plan your profits. Prior to starting your paintball business, you must create a plan for charging customers. Paintball field owners often charge people a flat fee to play a certain number of games or have a specific amount of playing time. Other fees can be charged for equipment rental, the sale of T-shirts and other keepsakes, and even refreshments while at the field. A good way to establish prices is to investigate the costs of other paintball competitors in your area.
5. Maximize marketing. One of the essentials when starting a new paintball business is advertising. This might include flyers, coupons and even TV or radio advertising. Just ensure that each ad targets the correct population; dropping off paintball flyers at a retirement community may not be the best plan--an arcade, on the other hand, is a much better idea.
Tags: business plan, paintball business, your business, business will, ensure that