I am looking to develop an indoor amusement rides park in Pa, I want to find 100 people who have similar interest to help me in this venture. This is going to be similar to a Bounce U only with amusement rides , miniature golf, etc added. I do have a BS degree in Recreation Park Management from Penn State and am CEO of The Bounce House a rental inflatable company in Allentown Pa which is on hold until 2010. I worked for a family amusement park, and was GM of a large 16 screen movie house for 5 years before I was downsized. The 100 members will be owners in the business. What is the best plan of attack to find the people who are truly interested?
Indoor Amusement Park Developement, Welcome
It sounds like you have started your plan of attack. This posting. Your visit to SCORE.
Next you need a Business and Marketing Plan that both investors and lenders can read.
Good luck, LUCKIEST
First, go to SCORE (score.org) or find a SBDC in your area. These services are free and can help you develop and research both a business plan and marketing plan – that way you go into this business with a well defined plan.
They can also help you create a PPM for your investors. The PPM will outline the risks and rewards for potential investors and protect you against some SEC rules.
100 investors will be hard to manage. Not sure how much you are seeking to raise in total – but you might want to look at the SEC’s Reg D. They have limits on what you can solicit from non-accredited investors. You should find what that minimum is in regards to the amount of capital you are raising and see if you can reduce the number of investors. That is just a lot of people to manage. The costs in both time and money trying to manage that number will be a detriment to your business.
You should also seek out an attorney and CPA to help you organize your business and draft your offering. While this may increase your initial start-up expense – it will save you many times that amount in the long-run.
You seem to have great experience and a good premise. My first question is whether or not you have created a business plan? If you are looking for small investors this may not be a the most important issue on that front but if you are looking for serious investors then this is going to be integral. The reasoning behind this is: investors are not looking so much at the plan but at the ability TO plan which is going to be a factor in their Return on Investment. Basically they want to know whether you have what it takes to run a business.
For your primary investors you are going to want to research venture capitalists and commercial lenders. You will want to target those who specialize in businesses and industries similar to yours. This will take a good amount of time and research and unfortunately it will not always be successful but each step will be one in the right direction. Once you find potential candidates you will have to formally approach them to guage their true interest.
If you are looking for smaller investors you are going to want to start by targeting your friends, family and business acquaintances. For all of these people you will need some sort of plan but most likely not one as in depth as with a bigger investor. Another way to find possible investors is through networking. You will want to do business networking through face to face groups as well as social networking online.
You are likely going to need to incorporate your business because your investors are going to want to ensure that they have protection of their assets if they are to be partial owners. This will be a factor in poentially reeling investors in and closing any deals with them.
If you need assistance in researching possible investors, creating a business plan or any other start up services I’d be happy to help!
i also have been reading your posts but i want to open a indoor Teacups ride/Tea cup ride, i currently have an outdoors bounce rental. Hopefully will open a center b I way Fall. Wondering how did the indoor bounce house business do for you? why did you guys close. Any advise you could pass on about the business. i seen a business plan online wondering are them good ones. just tring hard to bring the kids something new to do in a small town. Any help you could give on (how much of approximate initial capital needed,business plan, optimal size to open, etc.) would be truly helpful.