trampoline planet | 2017-18 fbla business plan · 2018-09-23 · industry analysis ... industry...
TRANSCRIPT
BusinessPlanAdlaiStevensonHighSchool
Illinois2017-18
Ayush BodigeMrigank DayalChrisVarghese
TrampolinePlanet|2017-18FBLABusinessPlan
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TableofContents
ExecutiveSummary.....................................................................................................................................3
CompanyProfile..........................................................................................................................................4
LegalFormofBusiness............................................................................................................................4
FacilityLocation.......................................................................................................................................4
CompanyGovernance.............................................................................................................................4
EffectiveDateofBusiness.......................................................................................................................5
CompanyVision&MissionStatement....................................................................................................5
FinancialOverview..................................................................................................................................5
ImmediateObjectives.............................................................................................................................5
IndustryAnalysis.........................................................................................................................................6
IndustryDescription................................................................................................................................6
IndustrySize............................................................................................................................................6
NatureofCompetition............................................................................................................................7
GrowthTrends.........................................................................................................................................7
TargetMarket..............................................................................................................................................7
Size..........................................................................................................................................................7
GrowthPotential.....................................................................................................................................7
Needs.......................................................................................................................................................8
AnalysisofMarket...................................................................................................................................8
CompetitiveAnalysis...................................................................................................................................8
KeyCompetitors......................................................................................................................................8
MarketingPlanandSalesStrategy............................................................................................................12
KeyMessage..........................................................................................................................................12
MessageDelivery..................................................................................................................................12
Operations.................................................................................................................................................14
BusinessFacilities..................................................................................................................................14
ProductionProcess................................................................................................................................15
WorkforcePlan......................................................................................................................................16
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LeagueStructure...................................................................................................................................17
Merchandise..........................................................................................................................................17
Pricing&Packages.................................................................................................................................17
ImpactofTechnology............................................................................................................................18
ManagementandOrganization.................................................................................................................18
KeyEmployees.......................................................................................................................................19
AdvisoryCommittee..............................................................................................................................20
EmployeeProcess..................................................................................................................................20
CompensationandIncentives...............................................................................................................20
Long-TermDevelopment...........................................................................................................................21
FutureGoals..........................................................................................................................................21
RisksandPotentialAdverseResults......................................................................................................22
Financials...................................................................................................................................................23
BalanceSheet........................................................................................................................................23
Start-UpAnalysis...................................................................................................................................23
LoanAmortization.................................................................................................................................23
CashFlowforYear1..............................................................................................................................25
IncomeStatementforYear1................................................................................................................26
YearlyIncomeStatementsforYears1,3,and5....................................................................................28
Appendix...................................................................................................................................................29
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ExecutiveSummary
Trampolinesareoneofthemostexhilaratingactivitiesforchildrenandadultsalike.However,highpricesandmaintenancefortrampolinesdiscouragesomeconsumersfrompurchasingoneandfewareasoffertrampolinefacilitiesforthepublictouseandenjoy.TrampolinePlanetseekstosolvethisproblembyprovidingahighquality,stateofthearttrampolinespace,featuringnumerousactivitiesforpeopleofvaryingagestohavefun.
Trampoline Planet will offer four main attractions for customers to experience: an opentrampoline space, an obstacle course, slamball courts, and volleyball courts. Additionally,TrampolinePlanetwillofferafoodcourtandmerchandisestorewherecustomerscanenjoyourdelicious and healthy food options and purchase their own Trampoline Planet apparel andequipment. The park preserves the core ideas of a family entertainment facility while alsoimplementingnewgamesandactivities.Sinceweoffersuchuniquesports-basedattractions,webelieveitisimportanttocapitalizeonthisopportunitybyimplementingacompetitiveaspecttooursportscourtsandobstaclecourse.TrampolinePlanetwillbeofferingleaguemembershipinourfacility,allowingcustomerstocompeteaswellasraisingadditionalrevenue.Partypackagesarealsoanimportantcontributortorevenue,whichiswhyTrampolinePlanetwilloffervaryingpricepointsforpartyplansandspecialstoattractawidercustomerbase.
AsownersofTrampolinePlanet,AyushBodige,MrigankDayal,andChristopherVargheseeachbring a unique set of skills to ensure the company’s success. With experience in finance,marketing, accounting, and management, the owners have the necessary caliber to makeTrampolinePlanetprosper.Ayush,Mrigank,andChristopherarealsofocusedongivingbacktothecommunitythroughsponsorships,donations,andfundraisersforvariouscauses.
TrampolinePlanetwillreleaseasetofmerchandisefeaturedinaspecializedstoreatthefacilityandonlinetoraiseadditionalrevenue.Shirts,hoodies,andotherclothingwillbeavailableforbirthdaypartiesandintheshopforpurchase.Jerseyswillbeprovidedfortheofficialslamballtournamentsandleagueswithavarietyofcolorsandcustomteamlogos.
Saleswereprojectedusingthoroughanalysisoftheindustryandourbestcompetitors.TheseestimateswerecreatedhonestlyandconservativelytogiveTrampolinePlanet
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realisticprojections.Pricingwasfairandrelativetocompetitorsandoffersgoodmarginsfortheservices.Inthefuture,TrampolinePlanethasvisionstoexpandandcreatemorelocationsinthestateofIllinoisandintheUnitedStates.
CompanyProfile
LegalFormofBusiness
ThecompanywillfileasaLimitedLiabilityCompanytogainbothlegalandeconomicadvantages.Legally,theowners’assetswillbeprotectedfromanylawsuitbroughtthroughtheLLC.Incaseofinjuryordeathinourfacility,werequireourcustomerstosignaliabilitywaiverforadditionallegalsupport.Financially,wedonothavetofileacorporatetaxreturnbyusingaLLC,sowecanavoiddoubletaxationandendthecalendaryearwithadditionalnetincome.
FacilityLocation
TrampolinePlanetwillbelocatedat450EastBunkerCourt,VernonHills,IL60061.ThisisanideallocationforattractingourtargetmarketbecausetheVernonHillsarea isclosetomorethantwentydifferentelementary,middle,andhighschools.Additionally,VernonHillsdoesnotyethave a trampoline park, thus isolating us from competitors and enabling us to earn morerevenue. TrampolinePlanet intends touseapproximately40,000 square feetof the facility’s66,000squarefeetduringinitialstartup.Theremainingspacewillinitiallybeusedforstorageandbeexpandedintointhefuturewhenweaddnewattractionstothefacility.WewillmakesurethatTrampolinePlanetislegallysafetoopenbyobtainingaCertificateofOccupancyfromthelandlord.
CompanyGovernance
Theowners,Ayush,Mrigank,Christopher,willmanageTrampolinePlanet.Ouremployeeswillalsoserveaninfluentialroleindetermininggovernanceissues.Employeesandownerswillmeetmonthly todiscuss topics concerningday-to-dayoperations.Consequently, thiswill facilitateaddressinganyproblemsouremployeesorcustomersmayhave.Ultimately,theownersseektocreate a positive environment at Trampoline Planet that accommodates the needs of everyindividual:customeroremployee.Thethreeownershavethefinalsaywhenvotingovernewsuggestions,needingamajoritytwovotestosettleamatter.
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EffectiveDateofBusiness
WiththeconceptcreatedinDecember,2017,byAyushBodige,MrigankDayal,andChristopherVarghese,TrampolinePlanetwillbeginconstructioninJanuary2019andfacilitywillbeopenfordailyoperationsonApril1,2019.
CompanyVision&MissionStatement
TrampolinePlanet’svisionisabrandedfranchisethatextendsacrosstheUSforitsabilitytobreak the age barrier by providing limitless enjoyment for children, teens, and adults.Weenvision a brand that is trusted by loyal customerswho remember Trampoline Planet as amemorable experience in their childhood, a get together place in their teenage years, andsomethingtheycanstillrelishasadultsandevensharewithchildrenoftheirown.
TrampolinePlanet’smissionistocreateauniqueentertainmentfacilityforpeopleofallagestoenjoy.Withourmanyattractionsthataresuitableforawiderangeofages,peopleofalldemographicscanfindsomethinginterestingtodoatTrampolinePlanet.
FinancialOverview
TheamountnecessarytoestablishTrampolinePlanetisapproximately$990,000.Thisconsistsofconstructionand itemizedexpenditures.Mostof these itemizedexpenditureswillbepaidthroughthecashcontributionsmadebytheowners.Theremainingexpenseswillbecoveredbya construction loan of $1,000,000. This type of loan allows immediate access into capitalwheneverneeded.
Saleswereprojectedbyanalyzingnearbycompetitorsandassessingthedisposableincomeofourarea.Saleswerecalculatedconservatively,evidencingthelossinthefirstyear.However,withinthenextfouryears,weexpectaprofitlargeenoughtorecuperatethelossesfromourfirstyearofoperation.
ImmediateObjectives
Toprovideatrampolineparkthatoffersactivitiesthatappealtofamilies,children,teens,adults,andcompetitiveathletes,TrampolineWorldmustmeettheimmediategoals:
• Remodeltheexistingspacetocreateanopenspacefortrampolineswhilecreatingcolor-codedsectionsforeachactivityofthetrampolinepark
• Expandtheparkinglotfromtheexistingcapacity(66)toaccommodatetheanticipatedcustomerpeak(250)
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• Trainemployees inbasic first aidand simulationsofpossibledangerous scenarios tomaintainthesafestenvironmentpossibleatourfacility
• Developmerchandisetomaketheexperiencemorefulfillingforfamiliessuchashatsandt-shirts,aswellasmorecompetitiveforathletessuchascustomsportsequipmentandjerseys
IndustryDescription
IndustryAnalysis
Thetrampolinepark industry isarelativelynew industrycomparedtoother formsof familyentertainment.The first trampolinepark,SkyZone,opened foroperations in2004.This13-year-oldindustryisminisculecomparedtootherentertainmentgiantssuchasbowling;thefirstbowlingalleyopenedin1840.However,thisseeminglysmallindustryprovidesabundantroomforgrowth,andputsTrampolinePlanetatahealthypositionforopeningandoperatingwithinthecomingyears.
Almostall 400 registered trampolineparks followguidelines for their facilities knownas theASTMF2970-15.Thisisamember-sponsoreddocumentwhichcontainsinformationregardingoperations and finances for franchises or businesseswishing to go into the trampoline parkindustry.Italsoincludescommonsafetystandards,suchasroofsize,trampolinesize,andwaiverinformation.Whileit isonlyrequiredinMichiganandArizona,wewillstillenforcetheASTMF2970-15inIllinoisduetoourhighvaluationofcustomersafety.Inaddition,theInternationalAssociationofTrampolineParksservestoadvisetrampolineparkbusinessesandfranchisesinbuildinga successfulpark. Itwas created in2012by trampolineparkbusinessesasanopenreference for mutual success in the industry. Trampoline Planet will become a part of theassociationtogainaccesstoadditionalservicesneededforoperatinganewpark.
IndustrySize
In2016,TechNavio,amarketresearchcompany,valuedtheglobaltrampolinemarketat2.248billiondollars.Thisisexpectedtoseeanimpressivegrowthof555milliondollarsby2021.Thistrendclearlyindicatesthattrampolineparksaregrowinginpopularity,whichiswhythecurrentmarketsetsTrampolinePlanetupforsuccess.
Totakeadvantageoflowcompetitioninourareaandthecurrentgrowingindustry,itisessentialthatTrampolinePlanetshouldbeginoperationsassoonaspossible.
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NatureofCompetition
Trampolineparksarecategorizedasaformoffamilyentertainment.Theothercompetitorsinthis family entertainment industry can include bowling and arcades.However, as consumersbecome bored of these traditional forms of entertainment, they will look for alternatives.Trampoline parks provide fulfillment of fun for the familywhile also being a unique formofentertainment which can sustain an industry. The bowling industry is on a clear decline.AccordingtoBrandongaille,from1998-2013,thenumberofbowlingalleysintheU.S.fellfrom5,400to3,976,orbyabout26%.Thisindicatesthatbowlingalleysareincurringincreasinglymorelossesasconsumershavebecomedisinterestedinbowling,resultinginthediscontinuationofmore thana thousand facilities. Thisprovides foramoreopenandbroadcustomerbase forTrampolinePlanetasthecompetingindustriesdecline.
GrowthTrends
AccordingtoActivityQuest,thereareapproximately400trampolineparksworldwideasof2017.The global interest in trampoline parks comes fromwhat they have to offer: dodgeball is agrowinginterestforcompetitiveplayersandappealstocasualjumpersaswell.Slamball,whichisavariationonbasketballenhancedbytrampolines,alsoattractsattentionforbothviewersand players. As the bowling and arcade industries decline, trampoline jumping will rise asconsumersseeknewformsoffamilyentertainment.
TargetMarket
Size
VernonHillsisintheNorthwestsuburbsofChicagoinLakeCounty.ThetotalpopulationofLakeCounty,Illinoisis703,462with383,887peoplebeinginourtargetedagerangeof5-39yearsold,accordingtothe2010U.S.CensusBureau.Thebreakdownofthisdemographicischildren(5-12),teens(13-19),andyoungtomiddle-agedadults(20-39).With54.5percentofthepopulationinLakeCountymeetingourtargetmarket,theVernonHillsareaservesastheperfectlocationforTrampolinePlanet.
GrowthPotential
LakeCountyschooldistrictshaveexperiencedanincreaseinstudentenrollment,showingthatmorestudentsarecomingtothisarea.Additionally,theU.S.CensusBureauprojectedthatthepercentageoftheLakeCountypopulationwithinourtargetmarketwillincreasefrom54.5%to
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61.7 %in2016,showingthatourtargetmarketisgrowingwithintheLakeCountyarea.ThisplacesTrampolinePlanetinthepositiontogrowimmenselyinLakeCounty.
Needs
Astraditionalmethodsofentertainmenthavebecomemundane,peopleoftenfindthemselveslookingforuniquewaystohavefun.Withnotrampolineparkinthearea,TrampolinePlanetprovidestheperfectplaceforfamiliestospendtimetogetheratanaffordableprice.
AnalysisofMarket
Tomaximizereturnsforinvestorsandguaranteeconsistentgrowthforourbusiness,wehaveextensivelyresearchedandanalyzedstatisticsidentifyingprospectivecustomersconcerningourimmediatearea.Basedoffresearchontherespectiveprimaryagerangesofthewidevarietyofattractionsoffered inourentertainmentcenter, theoptimal targetage range forTrampolinePlanetisthe5-39yearswithinLakeCounty.
CompetitiveAnalysis
KeyCompetitors
SkyZone:FirsttrampolineparkbusinesswithlocationsinUnitedStates,Mexico,SaudiArabia,andCanada.Offersactivitiessuchasdodgeball,dunking,foampits,andwarriorcourses.
Strengths
1. Hasareputationasfounderofthetrampolineparkindustry.BecauseSkyZonehasbeenin the industry the longest out of any of our competitors, it has themost locationsworldwideandbuiltupbrandloyaltyoveritsyearsofoperation.
2. Oneof theactivities includesa toddler zone,whichappeals tobothparentsandtoddlers.ThisexpandsSkyZone’stargetmarketandallowsthemtoearnadditionalrevenuefromincreasedcustomertraffic.
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3. The fun atmosphere and ambience of Sky Zone makes it an attractive location fortrampolinejumping.SkyZonealsochangestheiractivitiestomakethemseemuniquetoconsumers.
Weaknesses
1. With a large number of facilities worldwide also comes a need for increasedmaintenance and upkeep, especially with employee quality. Customers report thatemployeesatsomeSkyZonelocationsareunsatisfactoryduetoabsenceofamanager,rudeemployees,etc.
2. SkyZonerequiresthatcustomerspurchasespecialsockstojumpinthefacility.ThisdisappointsSkyZone’scustomersbecausethesocksbecomeanadditionalpricetheyhavetopayeverytimetheycometothelocation.
3. Certainareashaveagerestrictions.Thismeansthatwhenachildoradultpaystogetintothefacility,theywillnotbeabletousesomepartsoftheplace.Becauseofthis,familiesaredissatisfiedtheycannotjumpwitheachother.
SkyHighSports:Relativelysmallbutstillgrowingbusinesswith15locationscurrentlyintheUnited States.Offersmost of the activities other competitors do,with the addition of a“wipeout”activityaswellasaerobicclasses.
Strengths
1. Varietyandopennessofthefacilityappealstocustomersastheycanuseanypartofthefacilitywhentheywanttoaslongastheypaytheacceptablerates.
2. General outlookon staff problem solving is positive, as they assist customerswithproblemstheymayhaveanddealwiththemimmediately.Atmosphereoflocationsisfriendlyandoutgoing.
3. SkyHighSportsmaintainstheirfacilitiesquitewellaccordingtocustomerreviews.Machinesandtrampolinesarealwaysupdatedandworking.
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Weaknesses
1. Adultsaresomewhatexcludedfromthejumpingexperience,asthefacilityonlyprimarilymarketstochildren.
2. SkyHighSportsdoesnothaveitscustomerssignawaiver.Thismeansthatemployeesarerequiredtomonitorparentsandkidsalike,whichcanruintheexperienceforsomepeople.
3. Situationsregardingmoneyoftengounsolved.Somelocationsareinvolvedinscandalsovernotprovidingservicesfortheallottedtimecustomerspaidfor.
DaveandBuster’s:AnexpansivearcadeandbarwithmultiplelocationsthroughouttheUnitedStates.
Strengths
1. Attractsadultsbecausetheyhaveanalcoholbar,whichexpandstheirtargetmarket.2. Offersavarietyofarcadegamesforkidstoplay,makingitalargeattractionfor
customersinterestedinarcadegaming.3. WiththeintroductionofVRarcades,DaveandBustershasthepotentialtogrowvastly
andimprovetheircapital.
Weaknesses
1. Kidsarerestrictedfromenteringfacilitiesiftheyarenotaccompaniedbysomeoneaged18andover.ThislimitshowmanypeopleDaveandBuster’scanserve,whichalsolimitstherevenuestheyearn.
2. Thepricestheyofferareexpensiveformostconsumers.Theinputforgamingcardsusedinthearcadetransfertoamuchloweroutput.Whilethismayseemlikeagoodthingforbusiness,itattractslesscustomersinthelongrun.
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3. Maintaining such a large number of arcade machines can become an issue for thecompany,asITcostsgreatlyincreaseascustomerbaseincreases.ThislimitstheamountofgrowthpotentialforDaveandBusters.
Trampoline Planet will be located in Vernon Hills, Illinois because the area does not havecompetitorsclosetoitandcoversarangeofmanyschools.However,thisdoesnotcompletelysaveTrampolinePlanetfrompotentialcompetitivethreats.Competitorswillenjoyadvantagessuchasbrandloyaltyandlocationsacrossthecountry.However,TrampolinePlanetwillcoverthisdeficitbyprovidingbettercustomerservice,uniqueactivities,andcompetitivesportsinanareawhichtrampolineparksarefartherawaythanconsumersarewillingtodrive.
Thecompanyisalsodedicatedtohelpingthecommunitybyhostingcharityeventsanddonationservices.Bydoingthis,wehopetobuildTrampolinePlanet’sreputationoverthecomingyears.Christopherwill plan and host these events to raisemoney for both the business and localcharities.
KeyMessage
MarketingPlanandSalesStrategy
Inanageoftechnology,TrampolinePlanetpromotespeoplespendingtimetogetherwhilealsobeingactive.TrampolinePlanetplanstodeliverthismessagethroughouttheLakeCountyareainordertogrowthecompanyaswellasitscustomerbase.
MessageDelivery
PriortotheopeningofTrampolinePlanet,flyersandadvertisementswillbepostedthroughoutthe Lake County area in order to create buzz for the business. Developing a strong onlinepresenceisessentialforthesuccessofTrampolinePlanetwhichiswhywewillalsoestablishseveral social media accounts on various social media platforms. During operations we willexpandTrampolinePlanet’sonlinepresencebycreatingamobilefriendlywebsiteandpayforadsinvariousapps.
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TrampolinePlanetislocatedat450EastBunkerCourt,VernonHills,IL60061.Thepopularityofnearbybusinesses,suchasPortillo’sandCornerBakery,willhelpcontributetothegrowthofTrampolinePlanetandwillhelpdevelopTrampolinePlanet’spresenceintheVernonHillsarea.Sinceourfacilityislocatednearmanyhighschools, such as Vernon Hills High School andAdlai E StevensonHigh School,wewill providesponsorships to these schools in the future inorder to build our brand. Trampoline Planet isalso in the vicinity of several malls such asHawthornMall,whichhasover6millionvisitorsannually,andWoodfieldMall,whichhasover27millionvisitorsannually.Wewilltakeadvantageof our business’ location by raising awarenessthrough flyers and signs at these malls andschools.
Asseeninourincomestatementonpg.27,$6000will go towardsmarketing before the opening ofTrampolinePlanet.Partofthisamountwillbeusedto print and distribute flyers throughout LakeCounty. The flyer will raise awareness ofTrampolinePlanet.Itwillincludealltheattractionsinsidethefacilityaswellastellourcustomersthedateweopen.Oursocialmediapresencewillalsogrowthroughthisflyerasitincludestheplatformsthatourcompanyhasaccountson.
Additionally,awebsitewillbecreatedinordertomake it easy for our customers to find usonlineaswellasfindmoreinformationonour
Figure1:TrampolinePlanetFlyer
Figure2:TrampolinePlanetWebsite
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business.AsseeninFigure2,thewebsiteisextremelysimple,makingiteasytouseformanycustomers.ItalsoisaneffectivewayforpeopletolearnmoreaboutTrampolinePlanetandallowsthemtopurchaseticketsonline.
ATrampolinePlanetLeagueappwillalsobecreatedbyChristopherVarghese,inordertoengagetheleaguecommunity.Theappwillnotifyleagueplayerswhentheyhavegamesaswellasthescoresof leaguegames in slamball andvolleyball. Itwill also include ranked racing times forrunnersparticipatingintheobstaclecourseleague.Playerscanalsomakenecessarypurchasesfortheirsport,suchasjerseys,withintheleagueapp.Theappwillalsohaveacommunityboardforleagueplayerstoengagewitheachotherandprovidefeedbackontheirleagueexperience.This will be an effectiveway to unify the league communitywithin Trampoline Planet, as itprovidesaplatformforleaguememberstoremainengaged.
Tobuildouronlinepresenceandengagethecommunity,TrampolinePlanetwillbeextremelyactiveonsocialmediaandwilluseittoadvertise.TrampolinePlanetwilluseInstagram,Twitter,Facebook, Snapchat, andYouTube tonotify the customersofnewattractions andupcomingevents. On the Instagram page, a weekly photo will be uploaded, showing off our variousattractions.OntheTwitterpage,customerswillbenotifiedoftheupcomingeventsanddealsthatTrampolinePlanetwillhave.TrampolinePlanetwillalsouseFacebooktostreamliveevents,suchasleaguegames,tothecommunity.TheTrampolinePlanetYouTubechannelwillalsobeusedtostreamleaguegamesaswellashavevideosofgamehighlights.Mrigankwillprimarilyhandlethesocialmediaaccountstodirectlyconveyourkeymessagetocustomers.
BusinessFacilities
Operations
ThefacilitywhichwillhouseTrampolinePlanetwillbearound64,000squarefeetinsize,witharound 90 parking spaces in the parking lot. This size is appropriate for future expansion;however,wedonotplanonusingtheentirefacilityduringstartup.Around40,000squarefeetwillbeusedforthefacility.Around36%ofthisspacewillbededicatedtoslamballandvolleyballcourts,freejumpincludingdodgeball,ballpits,andregulartrampolines,aswellastheobstaclecoursewillbearound37.5%,foodcourtswillbe10%ofthefacility,andtheremaining16.5%willbeusedforpartyrooms,receptionareas,andstorage
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Thestore’sthemeisastronomy,particularlybecauseourcompany’snameisTrampolinePlanet.Sections and activities that we offer will be named after planets or astronomical terms. Forexample,thedodgeballspacewillbecalled“MeteoriteMayhem”andtheobstaclecoursewillbecalled“TheBlackHole”.Thisistohelpenforceafamily-friendlyenvironmentwithoutbeingtooboringordull.Thefollowingfloorplanwilldescribetheallottedspaceforeachactivity inourfacilityinsquarefootage.
Figure3:TrampolinePlanet’sFloorPlan
ProductionProcess
Therewill be threemain types of employees serving this company: owners,managers, andtrained employees. All three of these employees will work together and focus on similarobjectives,suchassuccessfulday-to-dayoperationsandexcellentcustomerservice.However,each will have their own job to contribute to the company. The owners primarily handleoperations, financials,marketing, and other aspects of the business.Managersmaintain thefacilityandensurethatemployeesaredoingtheirjob,whilealsosatisfyinganyissuesacustomermayhave.Employeeswillbetaskedwithmaintainingasafeenvironmentforjumpersandmakingsurenoonegetshurt.Inthecasethataninjuryoccurs,allemployeeswillbetrainedinfirstaidinordertoensuretheycanhelptheinjuredjumperinthissituation.
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Uponentrytoourfacility,customerswillbegreetedwithtworeceptionists.Thereceptionistswillbesellingticketsandalsowillcollectticketsthathavebeenprintedandboughtonline.Theywillalsobeabletoprovideinformationforthoseinterestedinjoiningourvarioussportsleaguesandwillgivewaiversto first timevisitors.Customerswill thenbetakentoourvideoroomtoviewthesafetyvideoinordertoensurejumpersremainsafe.Thisvideowillbe1minuteinlengthanduponitscompletion,jumperswillbehandedsocksforjumpingandwillbeallowedintothefacility.InsidethefacilitytherewillbeseveralemployeestoensurethatjumpersfollowthesafetyrulesofTrampolinePlanetinordertopreventseriousinjuriesfromoccurring.TherewillalsobeseveralboardsthroughoutthefacilitythatstatethesafetyrulesofTrampolinePlanetinordertopreventviolationsoftheserules.
Forthosewho’vecomeforweekend leagueplay,theywillalsogothroughasimilarprocess.Uponshowingtheirleaguemembershiptothereceptionist, leagueplayerswillbeallowedtodirectlyenterthefacility.However,ifitisthefirstweekoftheseasonleagueplayerswillwatcha1minuteleaguesafetyvideoforthevarioussportsleaguesinourfacility.Afterenteringthefacility leagueplayerswillbeabletoviewwhichcourttheirgameisonandwillplayonthatrespectivecourt.Eachleaguegamewillincludearefereeinordertoensurethegameisplayedfairly.
WorkforcePlan
Oneoftheowners,Ayush,Mrigank,orChris,willalwaysbeatthestoreonweekendsandwilldevelopaschedulewithmanagersfortheemployeestofollow.Withoneoftheownerspresent,itwillensurethatourmanagersandemployeesareontaskandaredoingtheirrespectivejobswhilealsoincreasingproductivitybyhavingapassionatemanager,ratherthanahiredone.Inthesituationthatnoownerisavailabletobeatthefacility,thehiredmanagerwillbetaskedwithensuringnothinggoeswrongwithinthefacility.
Typically,employeestaskedwithopeningwillcometothefacilityat7:30a.m.andsetupthefacilityforopeningat8:00a.m.Thosetaskedwithclosingat10p.m.willbeaskedtocleanthefacilitybeforeleavingandmakingsureit’sreadyforopeningthenextday.Themanagerwillsetupthescheduleforthemonthinordertomakesureemployeescanmaketheirshifts.Leaguerefereeswillbegiventhedayofleaguegamesandtheirshiftswillbeduringthesegames.
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LeagueStructure
TrampolinePlanetwill have various sports leagues for people toparticipate in.Our slamballleaguewillinclude8teamsthatconsistof6:9players.Therewillbe4seasonswhichconsistof12gamesandthewinnerof the leagueduringeachseasonwillget theprize for thatseasonOfficialslamballgameswillbe3on3andeachplayerwillneedtobuythenecessaryequipmenttoplay.PlayersinterestedinslamballcanmakeateamwiththeirfriendsandparticipateinourTeenorAdultLeaguedependingontheirage.Playerscanbuytheequipmentnecessarytoplayfrom the Trampoline Planetwebsite or from a third party. Jerseyswill also be bought fromTrampolinePlanetwebsite.Ourvolleyball leaguewillhaveasimilarstructuretoourslamballleague.Therewillbe8teamsthatconsistof5:7playersandthisleaguewillalsoincludesimilargamesandseasonsaswellasprizes.Ourobstaclecourseleaguewillhavemonthlyseasonsandpeoplewiththefastesttimesofthemonthwillwinprizes.AllleagueplaywillbestreamedonourFacebookpageandhighlightswillbepostedontotheTrampolinePlanetYouTubechannel.
Merchandise
TrampolinePlanetwill releasea lineofmerchandiseavailableata specializedstore in thefacilityandalsoonlinetogenerateadditionalrevenue.Shirts,hoodies,andotheraccessorieswillbesoldatthisshop.Jerseyswillbeprovidedfortheofficialslamballtournamentsandleagueswithavarietyofcolorsandcustomteamlogos.Trampoline-specificgearwillalsobesoldfortheenhancementofthecustomer’sexperienceandforacompetitiveedgeinleagueplay.Belowyouwillseeconceptmerchandisethatweplantosellatthefacility.
Pricing&Packages
BelowisthepricingforticketsandothervariousotherthingsTrampolinePlanetsells,includingfoodandmerchandise.We’vealsoincludedthepartypackagesofferedandtheirprices.
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ImpactofTechnology
Technologywillbeimplementedwithinthebusiness,especiallythroughthemarketingaspectofthecompanyasTrampolinePlanetattemptstogrowitsonlinepresence.TrampolinePlanetwillhaveacustomerfriendlywebsiteaswellasanappforLeagueplayers.
ManagementandOrganization
TrampolinePlanetisownedandoperatedbyAyushBodige,MrigankDayal,andChrisVarghese,asalimitedliabilitycompany.Ayushactsasthecompany’smanagerandwillassistincustomerserviceaswellasconductinterviewsforhiringemployees.Mrigankisthecompany’sfinancialmanagerandwillproducefinancialstatementssuchasbalancesheets,incomestatements,andgeneraljournalstoproverevenueand,eventually,profit.Chrisprimarilyhandlesthemarketingaspectofthecompany,supervisingthesocialmediapagesandYouTubechannelinordertobuildTrampolinePlanet’sbrand.Together,thethreeowners’skillsetwillcontributetothesuccessofTrampolinePlanet.
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KeyEmployees
Owners
Ayush,Mrigank,andChristopherwillberesponsiblefortheentirefacilityandmakingsureitrunssmoothly.Ayushwillhelpmanagerscreateworkschedulesaswellasmanageinventoryandensurethefacilityremainsingoodcondition.Hewillalsohandlebookingbigeventsandwillplanthevariouscharityeventsatthefacility.Mrigankwillhandlethefinancialsofthebusinessbycommunicatingwithourlocalbankandotherfinancialinstitutionstoensureweare stable. Christopher will handle marketing by using communication mediums to buildTrampolinePlanet’sbrand.
Manager
ThemanagersofTrampolinePlanetwillprimarilyworkwithemployeestocreateworkschedulesandwill manage the facility when the owners aren’t present. Theywill also be taskedwithtrainingnewemployeesaswellashandlingcustomerserviceduringtheirrespectiveshifts.Themanagerswillalsoengagewithregularemployeestogetfeedbackontheworkenvironmentandwillalsohelpwitheventplanning.Additionally,themanageristaskedwithpartyplanningforbirthdaypartiesthattakeplaceatthefacility
Receptionist
The business will have two receptionists whowill sell tickets as well as collect pre-boughttickets.TheywillalsohelpthoseinterestedinsigningupforanyofourclassesoreventsandwillalsobesellingthemerchandisethatTrampolinePlanetoffers.Thereceptionistsarealsotaskedwithshowingthesafetyvideostothosewhocomeinandmakingsurealljumpershavesignedawaiver.
Cooks
Thecookswillprimarilyworkatthefoodcourtandwillpreparethemealsthatareservedatthepark.Alongwithcookingthefoodinthefacility,thecookswillworkthefoodcourtcounterandsellthefoodtocustomers.
Supervisors
Themostcommontypeofemployeeinthefacilitywillbethesupervisors,whowillbetrainedinfirstaid,andwillensurethesafetyofjumpersbyenforcingthesafetyrulesofthefacility.
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Referees
TherefereeswillbeusedduringleaguegamesinordertofollowtherulesofthevarioussportsthatareplayedatTrampolinePlanet.
AdvisoryCommittee
TheAdvisoryCommitteeofTrampolinePlanetwillconsistofalltheemployeesofthefacility.Everymonth,ameetingwillbeheldforthiscommitteetomeet.Thepurposeofthismonthlymeetingistoupdatefinancials,evaluatethestatusofthebusiness,andplanforthenextmonth.Additionally,thismeetingwillallowallpartiestovoicetheiropinionaboutthebusinessandgivetheownersguidance.
EmployeeProcess
Allemployeeswillgothroughasimilarapplicationprocess.InordertoapplyforapositionatTrampolinePlanet, potential employeeswill fill out theonline application availableonourwebsite.After fillingout theapplication,Ayushwill go through theapplications and selectseveralpeoplefor interviews.Upon interviewingthepotentialemployee,Ayushwilldecidewhethertheapplicantwillbehired.ThiswillensurethattheemployeesatTrampolinePlanetarefunandresponsiblepeople.Hiringthesetypesofpeoplewillensurethefuturesuccessofourcompany.
CompensationandIncentives
TrampolinePlanetwillprovideemployeeswitha funandvibrantworkenvironmentandfreefoodduringevery shift.Additionally, TrampolinePlanetwillhaveanemployeeof themonthsystemwiththeemployeeofthemonthreceivingabonusforthatmonth.TheemployeeofthemonthwillbedeterminedbyAyushandwillrewardtheemployeeswhowentaboveandbeyondfor that month. This will incentivize employees to commit themselves to working hard atTrampolinePlanetandwillensurethatallemployeesareproductive.
Ownerssalarieswillbepaidonaweeklybasisandwillstartat$35,000.ThissalaryisexpectedtoincreasebyYear5to$70,000;however,bythistimeAyush,Mrigank,andChriswillevaluatewhetherthisistheappropriatepayincreasefortheowners.Theownerswanttoleaveasmuchcapitalopenforthebusinessaspossible,sotheywillminimizetheirsalariesinordertoachievethisgoal.Belowarethesalarydistributionsforeachroleinthebusiness.Salarieswerecalculatedbasedonexpectedtasksofeachemployeeaswellastheimportanceoftheirroletothebusiness.
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LongTermDevelopment
FutureGoals
Bythethirdyearofthebusiness,TrampolinePlanetstrivestomeetthreeobjectives.Firstandforemost, thebusinessownersare focusedoncreatingastrongpresencewithnearbyschooldistricts. By offering group discounts to schools,wewill be able to generate interest amongstudents.Asmanycustomerswhocomeforrecreationaljumpingtypicallycomeinsomekindofgroupeventsuchasayouthgrouporbirthdayparty,itmakessensetoactivityapproachschoolsandpossiblyothersuchyouthorganizationswithenoughdiscountstomaintainaminimumprofitwhile heavily generating interest. Our second objective is to create a league structure oftrampolinesports.ImplementingasportleagueaspecttothevarioussportsbasedattractionsinTrampolinePlanet,suchastheslamballcourts,obstaclecourse,andvolleyballcourts,willhelpgenerateconsistentrevenueforourbusiness.Slamballisessentiallytrampolineintegratedwithbasketball,andprovidesaprofitableopportunity tosellor rentout thevarietyofequipmentwhichisneededtoplaythegame.Theobstaclecoursecanalsobeusedcompetitivelywiththecoursebeingalteredeachmonthinordertoprovideanewchallengeforourcustomers.Withanewleaderboardforeachmonth,theobstaclecourseleaguewillremaincompetitiveasFinally,volleyballwillhaveitsownleagueforcompetitiveplay.ThevolleyballatTrampolinePlanetwillincorporatetrampolinesintothegame.Wealsoplantobeabletorecordandstreamthebestofthe sports suchas anofficial slamball game, anexceptionally fast obstacle course run, or anofficialvolleyballgametotheTrampolinePlanetYouTubeChannel.Ourthirdandfinalobjective is toexpandoursocialmediapresence.Unlikemosttrampolineparksorentertainmentvenuessuchasbowlingorarcades,TrampolinePlanetplanstogrowinterms of social media. Through common platforms such as Instagram, Snapchat, Facebook,Twitter,andYouTube,thecompanyplanstogenerateinterestandcreateanonlineidentity.Bypostingpicturesweeklyontheseplatforms,thecompanyhopestocreateanimagethatprojects
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theparkasliveandvibrant.
Bythefifthyearofthebusiness,TrampolinePlanetplanstoexpand.Withastrongonlineidentity,theestablishmentofafacilityinadifferentlocationwillbegreatlyfacilitated.Research shows that Huntley, Illinois; Aurora, Illinois; and Kenosha, Wisconsin are threegrowingareaswithanabundanceofpotential.Withnohigh-endentertainmentcentersinthearea,theselocationsprovidetheperfectopportunityforTrampolinePlanettoexpand.Ayush,Mrigank, and Chris will each manage one facility, but still uphold their co-owner duties.Additionally,Ayush,Mrigank,andChriswillevaluateTrampolinePlanet’smission,strategies,goals,objectives,andvisiontokeepupwithtechnologyandsocietytomakeanynecessarychangestothestructureofthebusiness.ThiswillallowAyush,Mrigank,andChristoaligntheirvision for the futureof the companyandensureTrampolinePlanet is in thebest shape tosuccessfullyexpandinthefuture.
Bythetenthyearofthebusiness,TrampolinePlanetplanstocreatestructureforfranchise.Withthreelocationsestablished,Ayush,Mrigank,andChriswilldevelopamanagementsystemforthesefranchisestooperatesuccessfully.ThemainsocialmediaidentitywillbeoutsourcedtoathirdpartywhichwillberesponsiblefortheentirebrandofTrampolinePlanetwhileindividualparkswillbeencouragedtomaintain individualsocialmedia identities throughvarioussocialmediaplatforms.Bythispoint,TrampolinePlanetwillhaveestablishedabroaderleaguesystemwhichallowsplayerstogotootherfacilitiesandcompeteinthoseareas.
RisksandPotentialAdverseResults
Trampoline Parks, while not new, do not have the same familiarity to it when compared toentertainmentvenuessuchasbowling.Thus,TrampolinePlanetwillhaveasomewhatdifficulttaskestablishingthecompanyasaprominentvenuetohostbirthdayparties,youthgroup,andschool events. However, with adequate media promotion, Trampoline Planet can use thisuniqueness to its advantage and create a brand that offers a truly unique entertainmentexperience.Atthesametime,thiswillhelpdistinguishTrampolinePlanetfromcompetitorssuchasSky-HighJumpandRockin’Jump.Whilethefacilitiesofboththeselocationsareinferiortothose of Trampoline Planet, these companies carry a high advantage simply due to the timeexposuretheyhaveinthemarket.Evenwhiletryingsomethingnew,customersarestilllikelytochoose known parks such as Rockin’ Jump. The company hopes to overcome this primarilythroughtheoutreachtowardsthecommunitythroughcharityeventsandvariousschooldistricts.
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Financials
TrampolinePlanetwilluseanaccrual-basedaccountingmethodinordertocalculateexpensesandrevenuesmoreprecisely.Revenuewillberecordedasit isearned,andexpenseswillberecordedwhentheyareexpended.Financialstatementswillbeavailableonlineoncetheyarerecorded. All financial statements will correspond with the Generally Accepted AccountingPrinciples.
BalanceSheet
Thebalance sheet shows the startingassets, liabilities, andowner’sequity.AssetswerecalculatedafterfactoringexpensesseenintheStartupAnalysis.ThebeginningdateofthebalancesheetislistedasApril1,2019becauseitisourfirstdayofoperation.Becausetheaccrual-basisaccountingisbeingusedforfinancialstatements,expensesandliabilitiesareimmediatelyrecordeduponthefirstdayofoperation.
Start-upAnalysis
Inordertosuccessfullyoperate,TrampolinePlanetwillneedtoraise$1,150,000incapital.FundsforthisamountcomefromcashcontributionsbytheownerandaconstructionloantakenfromWellsFargo.WellsFargoisthedesiredbankfortheconstructionloanbecauseofthecompetitiveratestheyoffer,andtheirreliabilitybasedontheirsuccessfulhistory.Eachownerwillinvestapproximately$50,000intothebusiness.
Beginninginventorywascalculatedbasedontheitemizedexpendituresof$99,360.Thisincludestangibleassetssuchaschairs,tables,andassortedtoys.Theremainingstartingcashbalancewillbeusedmainlyforday-to-dayexpensessuchasrepairsorreplacementsforbrokenitems.
LoanAmortization
Weplantotakealoanof$1,000,000outfromWellsFargoinordertohelppayforconstructionof the interior space of the facility. This will mainly go to constructing square footage oftrampolinesaswellasinstallingwoodsurfacesforfoodcourts.Theloanwillbepaidbackwitha5.5%interestrate,whichisanadditional$55,000.Throughpaymentcalculations,wedeterminedthatmonthlypaymentswillbe$17,583.33andyearlypaymentswillbe$211,000.00.WeplantopayWells Fargo back in 5 years, 60 periods with a period indicating a month.Mrigank willcommunicate with the bank so that the company can make payments and build a strongrelationshipwithWellsFargoandparticipateintheirfundraisingactivitiestohelpthecommunity.
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CashFlowforYear1
Trampolineplanetisexpectedtobeginconstructioninmid-JanuaryandextendtofirstdayofoperationsinAprilof2018.Startingcapitalafterexpensesarepaidis$148,015.00.Becausethefirstthreemonthsareallaboutconstructionexpensesandacquiringassetsforthefacility,weexpect to see a large cash outflow. These outflows, however, will be recoupedwithin thefollowingmonthswhicheventuallyresultinanetinflowtowardstheendoftheyear.
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Cost ofGoods Sold is the accountwhichmodels theexpenses involved in selling items. ForTrampolinePlanet,theseitemswillbemerchandiseandfood.Sinceweexpectthesetwotobeasmallportionofourrevenues,weestimatedthecostofgoodssoldtobebasedoffof8%ofourrevenue.
Operatingexpenseisprojectedmuchhigherinthefirstmonththaninanyothermonthoftheyear,mainlybecauseitincludestheitemizedexpendituresincluded.Afterthat,theexpensewilllevel off and steadily increase from $40,000.00 because of increasing need for repairs andservices.
ProjectionsofthecashflowstatementfollowtheGAAPandthesestatementsareavailableonourwebsite.Theaccrual-basedaccountingmethodallowsustoaccuratelytrackcashinflowsandoutflowsandseetrendsforustoimproveoninthefuture.Cashinflowsdecreaseinthesummerasmorecustomersgotooutdooractivities.However,thisisaveragedbythewinterseasonwhereweexpectahighercustomeracquisitionrate.
IncomeStatementforYear1
TrampolinePlanet’srevenueswerecalculatedusingaslightlyupwardtrendingcustomerbase,startingfromapproximately60customersperdayto120customersperdaybytheendoftheyear. Average amount spent by each customer was recorded as $20-$25, which is accurateconsideringthevarietyofpaymentswereceive,suchasmerchandisepurchases,foodpurchases,andjumptimepurchases.Oneofourmaincompetitors,Rockin’Jump,averages220customersperday,andasastart-upbusiness,weexpectmuchlessthanthatinourfirstyear.Typically,lotsoffirmsintheentertainmentcenterindustryspendessentialmoneyonadvertising.TrampolinePlanet will limit these costs, however, by spending about 0.3% of monthly revenues onadvertising.Thiswillbedonebymainlyadvertisingusing socialmedia suchasFacebookandTwitter,aswellasflyersprintedoutandgiventopedestrians.
Expenses were calculated either directly from a supplier’s website or through analysis ofcompetitors in the industry. Fixed costs include rent, insurance, utilities, salaries, and loanrepayments.VariablecostsareSuppliesandRepairs&Maintenance.Fixedcostsholdthebulkofthe%ofsalesmainlybecauseofthesalariespaidtoallemployees.Trampolineparkstendtohave high salary expenses because they require highmaintenance and constant supervision,whichiswhyourfacilityhouses20employees.
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Insummary,TrampolinePlanetisexpectedtoincuranetlossof$249,616.95inthefirstyearofoperation.Thisisanexpectedoutputforatrampolineparkinthefirstyearbecauseofitemizedexpenditurespurchasedinthebeginningoftheyear,whichisaone-timepurchase.Withanincreasingcustomerbaseasourpopularitygrows,weexpecttocoverexpenseswithadditionalnetincomeinthefuture.
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YearlyIncomeStatementsforYears1,3,and5
Mentionedearlier,wedoincuralargenetlossoverthecourseofthefirstyearofoperation.However,throughyears3and5,thatisprojectedtobecoveredwithadditionalprofit.Theincreaseinsalesresultsfromincreasedcustomerbaseaswellasincreasingleaguepopularityforslamball.
These projectionswere calculated using the pricing strategies discussed earlier. Revenuesshownarehonestandconservative,accordingtoinformationobtainedfromourcompetitorssuchasSkyZoneandSkyHighSports.
Licenses to play music and display television were obtained to provide more customersatisfaction.Theannualloanexpenseof$211,000willbepaidbackwithinterest.Finally,repairsandmaintenancearehighcostsbecauseweareoperatingatrampolinepark.AsanLLC,wearesubjecttoincometaxesaswellasrentexpensefromourlease,whichaccountsfortheexpensesof$33,750.00and$87,000.00,respectively.
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