The feasibility study is the first step of the development process and provides critical guidance for design, construction, and operations. It evaluates potential market support and forecasts usage. It determines potential financial performance and maximum warranted development costs. It provides detailed physical planning parameters. It recommends the attraction mix and includes images for use in initial presentations.

The following paragraphs outline the major tasks typically involved in conducting a feasibility study.

Task 1: Orientation Meeting An initial meeting would be held to discuss the project in more detail and to see the prospective site if one has been chosen.

Task 2: Site and Area EvaluationThe site and local area would be evaluated to determine its effect on potential usage. Factors include: Market proximity Physical limitations or constraints Access routes Traffic patterns Surrounding development Potential complementary and competitive facilities

Task 3: Concept Description and Industry TrendsThe type of leisure business being studied would be described and industry trends discussed. Readers of the feasibility study may be unfamiliar with the concept and this section of the report provides an introduction before specific project-related issues are examined.

Task 4: Market AnalysisThe market areas would be defined based on distance from the site. Demographic characteristics for the resident market would be analyzed to provide an indication of support. This would typically include: Population growth Age distribution Income distributionThe tourist market would be defined and analyzed. Based on available information, this analysis would likely examine: Current size Historic growth Other characteristics Task 5: Evaluation of Comparable FacilitiesSelected comparable facilities would be examined. Available reported information would be provided on individual characteristics, including: Name and location Physical description Financial performance Development costs Market proximity

Task 6: Annual UsagePotential annual usage for the proposed facility would be estimated for the first five years of operation based on a number of factors, including Planned components Size of the available markets Qualitative market characteristics Market penetration rates achieved by comparable facilities Location and possible competition

Task 7: Physical Planning and Concept DevelopmentLBA would make physical planning recommendations needed to service expected market demand. The specific parameters vary from one leisure attraction to another. For larger projects, LBA can also provide master planning and schematic design services. Physical planning parameters may include: Estimated design capacity Recommended types of activities Recommended activity mix and sizing Recommended visitor service space Recommended parking sizing Minimum land area neededInitial conceptual efforts may also be provided. These could include: Functional layout diagram for the new leisure attraction Narrative description of a typical visit from the perspective of a typical family 3D computer graphics images of selected activities The final report could also include a video presenting the results of the feasibility study with a "fly-through" or "walk through" computer animation of part of the new leisure attraction.

Task 8: Financial AnalysisThe financial analysis for the proposed facility would be based on the selected concept and potential usage. Financial estimates for the first five years of operations would include: Revenues by category Operating expenses Operating profit Return-on-investment for equity investors

Task 9: Warranted and Typical Development CostLBA would determine the warranted development cost or investment based on potential profitability. This is the recommended maximum amount that should be spent to effectively develop the project and return a reasonable return-on-investment to equity investors.

This warranted amount would be compared to the actual development costs for other comparable facilities. Relative size would be taken into consideration. This comparison would provide guidance as to whether the proposed project could be developed for its warranted investment. If it can be, the project is considered financially feasible.

Master Planning & Schematic Design ServicesAs part of an expanded planning effort, LBA can also provide conceptual design services. Click here for details.

Types of AttractionsThe types of leisure attractions that LBA serves include the following, listed alphabetically: Amusement Park Aquarium Cultural Attraction Entertainment City Family Entertainment Center Museum Resort Theme Park Waterpark Resort Water Park Zoo

Business plan*The purpose of a business plan is different than that for a typical feasibility study. The feasibility study evaluates the market and financial potential of the project. The business plan explains how the developer will specifically achieve this potential. It needs to persuade skeptical readers that the developer has the ability to take the project to completion.Conceptual DesignFor new tourist attractions, Leisure Business Advisors LLC (LBA) begins by conducting the feasibility study. This study is typically the first step of the development process, and is generally required by investors and financing institutions. It evaluates potential market support, determines potential financial performance, and establishes the maximum warranted development cost. It is critical that designs are in line with market needs and justified investment.The feasibility study also provides initial physical planning parameters, such as total land size needed and building space required. It also recommends the attraction mix and major components. LBA does not have an exclusive business relationship with a single design firm, and welcomes opportunities for future cooperation. We can also expand our feasibility study effort and add conceptual visualization services. These could include images of the new leisure attraction seen through the eyes of a typical visitor, which would help define the project's "look and feel" in financing and promotional presentations. This effort would also begin the detailed planning process needed to move the project towards completion. This expanded planning effort can be chosen at the start of the consulting assignment, or added after the standard feasibility study has been completed.We can provide this service in cooperation with Montchai Design. Tom Montchai is an experienced leisure attraction designer and is a member of the American Institute of Architects (AIA). Examples of his past work are shown on this page.Although the actual design process differs from one project to another, the following paragraphs outline a typical approach for a new theme park or amusement park. Concept Development in the Feasibility StudyThe development process generally begins with a site visit and initial meeting to discuss the client's vision for the new leisure attraction. Conceptually, the design effort begins with a blank page. The greatest opportunity occurs when unique aspects of the project can be effectively integrated with the proven experience of comparable attractions elsewhere and potential market support for this particular location. The resulting plan is generally the strongest tool in financing and operational efforts. Design CharretteAs the feasibility study nears completion, the physical and financial framework is in place for conceptual design. The transition often occurs in a "design charrette" that brings together the client group with designers and other creative team members. The study's findings are discussed, and ideas presented by all involved.Specific goals for this brainstorming session differ, depending on the type of leisure attraction being developed. For a new theme park or amusement park, this effort can begin with selecting a general overall theme and specific themes for individual areas. The most popular themes typically involve adventure or fantasy.From the start, it is important to keep the potential guest experience in mind. Ultimate success depends on the new leisure attraction meeting visitor expectations and desires. Land Use PlanAt the design charrette, the master planning process also begins. It often starts with a "bubble diagram" that applies the feasibility study's physical recommendations to the client's site. This initial land use plan becomes more refined and detailed as it adapts to the particular needs of the concept and site.

The above example provided by Tom Montchai, is from a past amusement park project with five themed areas, each of which would have a unique identity that is reinforced by its architecture and landscaping. A "theme park" typically has five to seven distinctively themed areas under a broad overall theme.The functional layout of this particular example basically follows the "loop" approach that is common with many recent theme parks. In this layout, the themed areas surround a central lake that often serves as the location for evening spectacles.Another common layout is the "hub and spoke" approach that Disneyland first popularized. It has a central visual icon (such as a castle) as its hub, withthemed areas fanning out from this centerpiece. Other layouts areused, and none is clearly superior to the others. Unique site characteristics influence the choice of the best functional layout, as well as other design aspects.After establishing the themed areas, individualcomponents are distributed within each area.Major rides and shows are typically placed at the edges in order to attract guests throughout the park.This approach helps maximize overall holding capacity and crowd flow. The main shops are generally placed near the exitfor convenience.Based on typical guest behavior and pedestrian planning standards, a visitor circulation plan can also be prepared to ensure smooth movement throughout the theme park. This enhances guest comfort and prevents bottlenecks. Illustrated Master PlanFunctional needs are combined with visual theming in an illustrated master plan. An example is shown below by Tom Montchai from his past design work for a major new theme park in China. As shown, structures are often color-coded by type in order to aid optimum distribution and placement.

Aerial PerspectiveAlthough functional aspects are critical for operational success, a new theme park also needs to be visually appealing and understandable to non-professional individuals involved with the project. An effective way of showcasing a new theme park is with an aerial perspective, often from a "bird's-eye" perspective. The aerial perspective below is for the same theme park as the illustrated master plan above, but this perspective gives a better sense of what the theme park would look like as it more clearly comes to life in the eyes of viewers.

As the overall design vision for the project takes form, more detailed views of smaller parts of the project (such as an individual themed area) can also be prepared. Below is an example of a close-up rendering that Tom Montchai prepared for the Town Square entertainment complex in Las Vegas. This image shows the locally acclaimed children's park area that opened in 2007.

Concept ArtOur visual perspective can shift to ground level, now that we have a detailed overall perspective. The conceptual sketch, or vignette, below is one of the many concept art images prepared by Tom Montchai for the Town Square children's park area in Las Vegas shown in the close-up rendering above. These artist conception images provide a view of the new leisure attraction through the eyes of a typical visitor.

Assistance with Later Design EffortsThisschematic designeffort lays the groundwork for the subsequent design development and detailed design stages. The concept art images of individual structures will later become the starting point forscaled architectural drawings. As an architect for Forrec Ltd, Tom Montchai was part of the design team forUniversal Studios Florida and wasthe project architect for its Fievel's Playlandarea. Below is one of his facade sketches along with a photograph of the actual building on that theme park's New York Street after construction.

More Details on the Feasibility Study ProcessThese design tasks are part of an expanded planning effort that begins with the feasibility study. To learn more about the specific tasks involved in that study, click here.