Go Kart Business Plan [Sample Template]

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Are you about starting a go kart racing business? If YES, here is a complete sample go kart business plan template & feasibility report you can use for FREE.

Okay, so we have considered all the requirements for starting a go kart racing business. We also took it further by analyzing and drafting a sample go kart racing marketing plan template backed up by actionable guerrilla marketing ideas for go kart racing businesses. So let’s proceed to the business planning section.

Starting a business usually requires cash (startup capital) and if you have enough cash to invest in a thriving business in the united states of America, then you should consider starting a Go Kart business. The truth is that creating a business that targets children and adults as well is one sure way of making money especially if the business is laced with all that is required for them to have maximum fun.

It is important to state that, the real deal when it comes to starting a business like Go Kart business is securing a big facility that is large enough to contain not just the race tracks for the Go Karts and other fun – filled outdoor games for children, but also a restaurant, a place where parents / guardians can hangout while the wards catch funs and of course enough parking space.

Also in a location that may attract the kind of clients that would pay to make use of your Go Kart and recreational park facility. It might take you months to get an ideal facility and you just might have to even pay from your nose. So, it is better that you inform your real estate agent well in advance to help you with the search.

Moreover, starting a standard a Go Karting and family recreational facility business is akin to starting a family entertainment center and it can be expensive but you can be rest assured that you will make your money within few years of launching the business.

The fact that you are going to secure a facility big enough to accommodate the activities and services you intend offering and enough parking means that you must truly be prepared for this business. If your Go Kart and family recreational facility is of high standard and it is located close to a residential estate with loads of growing families, you will attract loads of children especially on weekends and special holidays.

The truth is that, you are expected to have interest in children and families in your area if indeed you want to do pretty well in this line of business. You should be able to convince parents and school managements, to make use of your Go Kart and recreational facility on a regular basis.

So, if you have decided to start a Go Kart and recreational park business, then you should ensure that you carry out feasibility studies and also market survey. This will enable you properly locate the business and then hit the ground running. Below is a sample Go Kart business plan template that can help you to successfully write your own with little or no difficulty.

A Sample Go Kart Business Plan Template

1. Industry Overview

Businesses that operates in the Golf Driving Ranges & Family Fun Centers industry basically provide recreational and amusement services through a variety of establishments, which includes golf driving ranges, miniature golf centers, go-kart racetracks, batting cages, family fun centers, recreational sports leagues and a host of outdoor recreational activities.

It is important to state that businesses / facilities such arcades, themed amusement parks, gambling facilities, golf courses, country clubs, skiing facilities, marinas, fitness and recreational sports centers and bowling alleys are not part of the golf driving ranges & family fun centers industry.

If you have been following the Golf Driving Ranges and Family Fun Centers industry, you would have realized that the industry exhibited revenue growth in recent time, in spite of many consumers being time-strapped. While the industry struggled with mounting competition from alternative leisure activities, such as fitness, many operators generated industry revenue growth on the basis of convenience.

For example, golf driving ranges attracted time-strapped individuals, due to golf driving ranges being more time-efficient compared with consumers playing nine to 18 holes on the golf course.

Going forward, the revenue generated in the industry is projected to grow as operators in the golf driving ranges and family fun centers continue to enhance their product portfolios and services to attract families, regardless of their reduced time allotted for leisure and fun.

The Golf Driving Ranges & Family Fun Centers industry is indeed a very large industry and pretty much thriving in some parts of the world especially in developed countries such as United States of America, Canada, United Kingdom, Germany, Australia and Italy et al.

Statistics has it that in the United States of America alone, there are about 53,308 licensed and registered golf driving ranges & family fun centers (Go Karts inclusive) scattered all across the United States.

The industry is responsible for directly employing about 156,658 employees and the industry rakes in a whooping sum of $11billion annually with an annual growth rate projected at 4.5 percent between 2011 and 2016. It is important to state that no establishment has a lion share of the available market in this industry.

A recent research published by IBISWORLD shows that during the past five years, the Golf Driving Ranges and Family Fun Centers industry exhibited growth due to many industry operators updating their facilities to attract consumers. This investment differentiated operators’ product portfolios from other consumer leisure activities, such as at-home digital entertainment.

The report further stated that, to attract budget-conscious consumers, some industry operators implemented coupons and discounts, which generated awareness about family fun centers and golf driving ranges as a local entertainment option.

Additionally, industry operators focused on specializing their product portfolio to attract particular demographics, such as adding bowling alleys to develop a strong customer base among families with older children.

Over and above, starting a Go Kart business in the United States of America can be some worth stressful, it requires enough cash to acquire land large enough to accommodate the kind of facility that can comfortably attract families and also cash required to equip the facility to meet the standard expected by potential users.

2. Executive Summary

Jim Rowlands® Go Kart & Fun Parks, LLC is a standard and well equipped golf driving range and family fun center that will be located in a growing community in Baton Rouge – Louisiana.

Our basic aim of setting up the business is to contribute our quota in ensuring that children cum families who reside in Baton Rouge and neighboring cities have a facility for their children to catch fun to the maximum and also to open; a facility highly suitable for family recreation and other related golf driving range activities.

We have been able to secure a standard facility in a central and easy to access location in Baton Rouge – Louisiana. The activities that will be carried out in our facility are go-karting, Batting cages, driving ranges, shooting ranges, kayaking, miniature golf courses, mountain climbing, snowmobiling, and sports clubs, teams and leagues, recreational or youth.

We are well equipped to services the whole family cum community as well as visitors. Jim Rowlands® Go Kart & Fun Parks, LLC is going to become the number one family focused recreation facility in the whole of Baton Rouge – Louisiana and we will work hard to build our facility to match the needs of the average family in the community.

Before starting the business, we conducted a thorough market research and feasibility studies and we were able to come to the conclusion that Baton Rouge – Louisiana is the right place to open our Go Kart and family Fun Park. As a matter of fact, our major aim of starting Jim Rowlands® Go Kart & Fun Parks, LLC is to encourage families in the community to cultivate the habit of regularly going out for recreational activities.

Our golf driving range and family fun facility is specifically designed and built to take care of children as well as parents, we have active childcare services for toddlers and we have membership packages that are highly discounted for families that enrolled with or churches and schools who would want to regularly make use of our facility.

Jim Rowlands® Go Kart & Fun Parks, LLC will at all times demonstrate her commitment to sustainability, both individually and as a business, by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. We will cultivate a working environment that provides a human, sustainable approach to earning a living, and living in our world, for our partners, employees and for our clients.

Jim Rowlands® Go Kart & Fun Parks, LLC is a private registered business that is owned and managed by Jim Rowlands and his immediate family members. Jim Rowlands has a degree in Business Management coupled with over 7 years hands on experience in the golf driving ranges and family fun centers industry working for some of the leading brands in the United States of America.

Together with other team members, he will bring his experience to the table to help build Jim Rowlands® Go Kart & Fun Parks, LLC to favorably compete in the United States and in the global market.

3. Our Products and Services

Jim Rowlands® Go Kart & Fun Parks, LLC is in the golf driving ranges and family fun centers industry to provide go kart and family fun facility for residence of Baton Rouge – Louisiana and neighboring cities which is why we have been able to put up a facility that can help us achieve the goal.

We are optimistic that everyone who makes use of our golf driving range and family fun facility will definitely derive huge fun and of course value for their money.

We are in this line of business to make profits and we are going to do all that is permitted by the law in the United States to achieve our corporate aim and ambition. These are the services and amenities that will be made available to our clients in our facility;

Go-karting
Amusement and recreation services
Fitness and recreational sport center services
Registration for sports tournaments and matches
Golf course and country club services and memberships
Meals and beverages
Coin-operated games and rides
Amateur sports teams and club services

4. Our Mission and Vision Statement

Our Vision of starting Jim Rowlands® Go Kart & Fun Parks, LLC is to build a world – class golf driving range and family recreational facility and also to contribute our quota in encourage families that resides in Baton Rouge – Louisiana and neighboring cities to actively engage in family fun – filled recreational activities.
Our mission for establishing Jim Rowlands® Go Kart & Fun Parks, LLC is to create a movement in the community that supports total engagement of family in fun filled recreational activities. We want to contribute our quota towards ensuring that Baton Rouge – Louisiana produce some of the happiest children and families in the whole of the United States of America.

Our Business Structure

Jim Rowlands® Go Kart & Fun Parks, LLC is in business to become the leading private golf driving range and family recreational facility in the whole of Baton Rouge – Louisiana and we are fully aware that it will take the right facility, management and organization – structure to achieve our goal.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stake holders (the owners, workforce, and customers). As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more.

Our business will not be built only for the purpose of giving our members / customers value for their money, but also, we will ensure that we make our work environment highly conducive for all our employees.

We will provide them with facilities that will help them stay motivated and deliver on their various tasks and goals et al. In view of that, we have made provisions for the following positions to be occupied by highly qualified and experienced staff;

Chief Executive Office – CEO
Facility Manager and Administrator
Accountant / Cashier
Marketing and Sales Officer
Go Kart Safety Instructor / Assistant (5)
Customer Care Executive / Front Desk Officer
Cleaners

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

Increases management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for fixing prices and signing business deals
Responsible for providing direction for the business
Creates, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
Responsible for signing checks and documents on behalf of the company
Evaluates the success of the organization
Carries out staff induction for new team members

Facility Manager and Administrator

Responsible for operating and managing the golf driving range and family recreational facility
Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
Updates job knowledge by participating in educational opportunities; reading professional publications; maintaining personal networks; participating in professional organizations.
Defines job positions for recruitment and managing interviewing process
Carrying out staff induction for new team members
Responsible for training, evaluation and assessment of employees
Responsible for arranging travel, meetings and appointments
Ensures that the facility is in tip top position at all times
Responsible for managing food and beverage services
Manages membership and registration services
Handles equipment rentals and sales services
Handles other relevant facility operation

Go Kart Safety Instructors / Assistant (5)

Ensures that children and adults alike follow lay down safety measures when they make use of our recreational vehicles
Handles amusement and recreation services
Handles registration for sports tournaments and matches
Responsible for handling and giving instruction for services such as go-karting, Batting cages, driving ranges, shooting ranges, kayaking, miniature golf courses, mountain climbing, snowmobiling, and sports clubs, teams and leagues, recreational or youth et al.

Marketing and Sales Officer (2)

Identifies, prioritizes, and reaches out to new clients, and business opportunities et al
Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of projects.
Writes winning proposal documents, negotiate fees and rates in line with organizations’ policy
Responsible for handling business research, market surveys and feasibility studies for clients
Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
Develops, executes and evaluates new plans for expanding increase sales
Documents all customer contact and information
Represents Jim Rowlands® Go Kart & Fun Parks, LLC in strategic meetings
Helps to increase sales and growth for Jim Rowlands® Go Kart & Fun Parks, LLC.

Accountant / Cashier:

Responsible for preparing financial reports, budgets, and financial statements for the organization
Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
Responsible for financial forecasting and risks analysis.
Performs cash management, general ledger accounting, and financial reporting for the organization
Responsible for developing and managing financial systems and policies
Responsible for administering payrolls
Ensures compliance with taxation legislation
Handles all financial transactions for Jim Rowlands® Go Kart & Fun Parks, LLC
Serves as internal auditor for Jim Rowlands® Go Kart & Fun Parks, LLC.

Client Service Executive

Welcomes members and potential members / clients by greeting them in person or on the telephone; answering or directing inquiries.
Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
Through interaction with clients on the phone, uses every opportunity to build client’s interest in the organization’s products and services
Manages administrative duties assigned by the management in an effective and timely manner
Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to clients when they make enquiries
Receives parcels / documents for the organization
Distributes mails in the organization
Handles any other duties as assigned the line manager

Cleaners (3):

Responsible for cleaning in and around the facility
Cleans up after customers and clean work area.
Washes glassware and utensils after each use.
Maintains a clean working area by sweeping, vacuuming, dusting, cleaning of glass doors and windows, etc. if required.
Ensures that toiletries and supplies don’t run out of stock
Handles any other duty as assigned by the facility center manager.

6. SWOT Analysis

Jim Rowlands® Go Kart & Fun Parks, LLC is in business to provide go karting and family recreational facility for families in Baton Rouge – Louisiana and also help its clients achieve their fun – filled activities for their children and at the same time to make profits.

We are aware that there are competitions in the golf driving ranges and family fun centers industry which is why we took out time to conduct an effective SWOT Analysis before investing our hard-earned money into the business.

We know that if we get things right before starting our go kart and family recreational center, we will not have to struggle before attract loyal clients and building our membership base to a level where we can easily breakeven in record time.

We hired the services of a HR and Business consultant with bias in business structuring to help us conduct SWOT analysis for our company and he did a pretty good job for us. Here is a of the result we got from the SWOT analysis that was conducted on behalf of Jim Rowlands® Go Kart & Fun Parks, LLC;

Strength:

One of the obvious strength that will definitely stand as a plus for Jim Rowlands® Go Kart & Fun Parks, LLC is the fact that our facility is centrally located in a densely populated – residential area in Baton Rouge – Louisiana; our location is in fact one of our major strength.

We equally have a team of highly qualified professionals who will work with all our clients to achieve their aims making use of our go karting and family recreational facility and lastly our gate fee / membership package is one of the best that anybody living around Baton Rouge – Louisiana and neighboring cities can get; it is cheap and affordable.

Weakness:

We critically looked into our Business model and we were able to identify two major weakness. One is the fact that we are a new business.

The second is the fact that we may not have the financial resources required to match up with existing golf driving ranges as well as family entertainment and recreation facilities and even government own entertainment and recreation facilities in Louisiana when it comes to acquiring latest Go Karts and generating the needed hypes that can drive traffic towards our facility.

Opportunities:

We are centrally located in one of the busiest area and densely populated area in Baton Rouge – Louisiana and we are open to all the available opportunities that the city has to offer.

Threat:

Some of the threats that are likely going to confront Jim Rowlands® Go Kart & Fun Parks, LLC are unfavorable government policies, inclement weather, demographic / social factors, downturn in the economy which is likely going to affect consumers spending and lastly, the emergence of new competitors within the same location where our golf driving range and family recreational facility is located.

7. MARKET ANALYSIS

Market Trends

The golf driving range and family fun centers industry has indeed benefited from recent marketing campaigns which is targeted towards encourage people to participate in recreation activities, as well as consumer trends toward healthy living.

Going forward, many people who are part of the baby boomers generation are expected to sign up for recreational club memberships or make use of recreation facilities in their communities, as they become more family cum health- conscious as they grow older.

However, patrons of golf driving ranges and family recreational centers are anticipated to increasingly pick up membership from less expensive golf driving range and family recreational centers as against expensive all-inclusive clubs.

The common trend in the golf driving ranges and family fun centers industry is such that if a facility is well – equipped and positioned close to a residential area or a place where people can easily access without much stress, there is the likelihood that the facility will enjoy high patronage.

Just like in other business ventures, the owners of golf driving ranges and family fun centers are always looking for ways to increase their market share; they go as far as signing deals with high schools and also religious organizations et al to make use of their facility on a regular basis.

Lastly, it is a common trend that as golf driving ranges and family fun centers grows, it becomes necessary for them to develop new service offerings or install new facilities that will help them attract more people.

Little wonder some golf driving ranges and family fun centers now have other facilities targeted towards attracting adults / parents. In order words, it is very important for go karting and family recreational facilities to continue to improvise if they want to grow their business and generate their target revenues.

8. Our Target Market

The target market for go karting and family recreational facilities cuts across people from different backgrounds. The fact that people visit or register in golf driving ranges and family recreational facilities for various reasons makes marketing the business interesting.

The target market for go karting and family recreational facilities can be categorized into three various groups. The first group is the families who are looking towards creating time for children cum family hangouts and bonding. The other group of people is schools who are would want an ideal place to take students / children to during excursions or playtime et al. The last group of people is religious organizations and clubs.

Jim Rowlands® Go Kart & Fun Parks, LLC will work towards providing services, facilities and environment that will help us reach out to our target market. These are the category of people that we intend marketing our go karting and family recreational center to;

Households and families in an around Baton Rouge – Louisiana
Schools
Churches and Religious centers
Clubs
Corporate organizations
Travelers / Tourists

Our competitive advantage

Beyond every reasonable doubt, the golf driving ranges and family fun centers industry is indeed a prolific and highly competitive industry. Clients will only make use of your facility if they know that you can successfully help them achieve their goals or provide the enabling environment and facility for them to catch maximum fun.

Jim Rowlands® Go Kart & Fun Parks, LLC is centrally located close to a densely populated – residential area in Baton Rouge – Louisiana; this is obviously going to give us an edge amongst our competitive.

We equally have a team of highly qualified professionals who will work with all our clients to achieve their aims of making use of our golf driving range and family recreational facility and lastly our gate fee cum membership package is going to be one of the best that anybody living around Baton Rouge – Louisiana can get; it is cheap and affordable.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category (startups go karting and family recreational facility businesses in the United States) in the industry. It will enable them to be more than willing to build the business with us and help deliver our set goals and achieve all our business aims and objectives.

9. SALES AND MARKETING STRATEGY

Sources of Income

Jim Rowlands® Go Kart & Fun Parks, LLC is established with the aim of maximizing profits in the golf driving ranges and family fun centers industry and we are going to go all the way to ensure that we do all it takes to attract both individual clients (families) and corporate clients on a regular basis. Jim Rowlands® Go Kart & Fun Parks, LLC will generate income by offering the following services;

Go-karting
Amusement and recreation services
Fitness and recreational sport center services
Registration for sports tournaments and matches
Golf course and country club services and memberships
Meals and beverages
Coin-operated games and rides
Amateur sports teams and club services

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies and also some of the assumptions readily available on the field. It would be hard to create a sales forecast with a newly opened business like go karting and family recreational facility.

This is simply because the statistics that will be provided will be on a short-term basis. Experts said that usually a business should be in operation for at least one year before they can generate the statistics that will be need to help in accurate forecasting; statistics should be at least one year old in order to show the trends and pattern in consumer spending.

We expect to welcome a minimum of 12,000 customers i.e. 0ne thousand customers per month within our first year of operations and then in subsequent year we will grow by 25 percent on more. Below are the sales projections for Jim Rowlands® Go Kart & Fun Parks, LLC, it is based on the location of our go karting and family recreational facility and the services and products that we will be offering to our clients (members);

First Fiscal Year-: $240,000
Second Fiscal Year-: $450,000
Third Fiscal Year-: $750,000

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. There won’t be any major competitor offering same additional services as we do within same location. Please note that the above projection might be lower and at the same time it might be higher.

Marketing Strategy and Sales Strategy

At Jim Rowlands® Go Kart & Fun Parks, LLC, our marketing strategies will be consistent throughout the marketing mix and we will take into consideration product improvement, promotion, and price. As part of our sales and marketing strategies, we will pay attention to the promotion of our go karting and family recreational facility so as to attract families and corporate organizations to enroll and become our members.

Our unique selling proposition is that we are well positioned and people can easily access our facility, our prices are affordable and we have a complete package for families, clubs, schools and religious organizations. Parts of the marketing and sales strategies that we will adopt are;

Open our golf driving range and family recreational facility with a big party for all and sundry
Advertise our golf driving range and family recreational facility on national dailies, local TV stations and local radio station
Promote our golf driving range and family recreational facility online via our official website and all available social media platforms
Introduce our golf driving range and family recreational facility by sending introductory letters alongside our brochure to religious organizations, schools, corporate organizations, households and key stake holders in Baton Rouge – Louisiana
Print out fliers and business cards and strategically drop them in offices, libraries, public facilities and train stations et al.
Delivering consistent customer experiences to all our members; making our first impression count positively to those making use of our go karting and family recreational facility for the first time
Make use of attractive hand bills to create awareness and also to give direction to our go karting and family recreational facility
Adopt direct mailing coupon marketing approach
Position our signage / flexi banners at strategic places in and around Baton Rouge – Louisiana
Create a loyalty plan that will enable us reward our consistent members especially those that registered as a family or groups
Engage in road shows within our neighborhood to create awareness for our go karting and family recreational facility.

11. Publicity and Advertising Strategy

We have been able to work with our branding and publicity consultants to help us map out publicity and advertising strategies that will help us walk our way into the heart of our target market.

We are set to become the number one choice for both corporate clients and individual clients in the whole of Baton Rouge – Louisiana which is why we have made provisions for effective publicity and advertisement of our go karting and family recreational facility. Below are the platforms we intend to leverage on to promote and advertise Jim Rowlands® Go Kart & Fun Parks, LLC;

Place adverts on both print (community based newspapers and magazines) and electronic media platforms
Sponsor relevant community based sport events and competitions
Leverage on the internet and social media platforms like; Instagram, Facebook, Twitter, YouTube, Google + et al to promote our brand
Install our Bill Boards on strategic locations all around Baton Rouge – Louisiana
Engage in road show from time to time in targeted neighborhoods
Distribute our fliers and handbills in target areas
Contact families, corporate organizations, religious centers and schools by calling them up and informing them of Jim Rowlands® Go Kart & Fun Parks, LLC and the services we offer
List Jim Rowlands® Go Kart & Fun Parks, LLC on local directories / yellow pages
Advertise our go karting and family recreational center in our official website and employ strategies that will help us pull traffic to the site.
Ensure that all our staff members wear our branded shirts and all our go karts and vehicles are well branded with our corporate logo et al.

12. Our Pricing Strategy

Our pricing system is going to be based on what is obtainable in the industry, we don’t intend to charge more (except for premium and customized services) and we don’t intend to charge less than what our competitors are charging as gate fees or membership fee in Baton Rouge – Louisiana and neighboring cities.

Be that as it may, we have put plans in place to offer discount services once in a while and also to reward our loyal customers especially when they refer clients to us or when they register as a family, groups or a religious organization and schools. The prices of our services will be same as what is obtainable in the United States’ open market.

Payment Options

The payment policy adopted by Jim Rowlands® Go Kart & Fun Parks, LLC is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America. Here are the payment options that Jim Rowlands® Go Kart & Fun Parks, LLC will make available to her clients;

Payment via bank transfer
Payment with cash
Payment via credit cards / Point of Sale Machines (POS Machines)
Payment via online bank transfer
Payment via check
Payment via mobile money transfer
Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for all our services without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our services.

13. Startup Expenditure (Budget)

In setting up any business, the amount or cost will depend on the approach and scale you want to undertake. If you intend to go big by renting a place, then you would need a good amount of capital as you would need to ensure that your employees are well taken care of, and that your facility is conducive enough for workers to be creative and productive.

This means that the start-up can either be low or high depending on your goals, vision and aspirations for your business.

The tools and equipment that will be used are nearly the same cost everywhere, and any difference in prices would be minimal and can be overlooked.

As for the detailed cost analysis for starting a go kart and family recreational facility; it might differ in other countries due to the value of their money. However, this is what it would cost us to set up Jim Rowlands® Go Kart & Fun Parks, LLC in the United of America;

The total fee for registering the business in the United States of America – $750.
Legal expenses for obtaining licenses and permits – $1,500.
Marketing promotion expenses (8,000 flyers at $0.04 per copy) for the total amount of $10,000.
Cost for hiring Business Consultant – $5,000.
Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $30,800.
Cost of accounting software, CRM software and Payroll Software – $3,000
Cost for leasing facility for the golf driving range and family fun center – $250,000.
Costs for facility remodeling, build go karting race course and equipping the facility – $200,000.
Other start-up expenses including stationery – $1000
Phone and utility deposits – $3,500
Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
The cost for start-up inventory – $15,000
The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, video games, snooker board, tables and chairs et al) – $10,000.
The cost of launching a website – $600
The cost for our grand opening party – $15,000
Miscellaneous – $15,000

We would need an estimate of $750,000 to successfully launch a small but standard and well – equipped golf driving range and family fun center in Baton Rouge – Louisiana.

It is important to state that the testing and evaluating expenses would be high because of the large amount of equipment needed to start up a go karting and family recreational facility and also the huge amount required in securing a facility large enough to accommodate the golf driving range and family fun center.

Generating Funds / Startup Capital for Jim Rowlands® Go Kart & Fun Parks, LLC

Jim Rowlands® Go Kart & Fun Parks, LLC is a private registered family business that will be owned and managed by Jim Rowlands and his immediate family members. They are the sole financial of the business which is why they decided to restrict the sourcing of the start – up capital for the business to just three major sources.

These are the areas we intend generating our start – up capital;

Generate part of the start – up capital from personal savings and sale of his stocks
Generate part of the start – up capital from friends and other extended family members
Generate a larger chunk of the startup capital from the bank (loan facility).

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and document has been duly signed and submitted, the loan has been approved and any moment from now our account will be credited.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have, the capacity and competence of the employees, their investment strategy and the business structure. If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Jim Rowlands® Go Kart & Fun Parks, LLC is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to pick up membership in our go karting and family recreational facility is to equip our facility with state of the entertainment equipment and make our services affordable.

Jim Rowlands® Go Kart & Fun Parks, LLC will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of ten years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List / Milestone

Business Name Availability Check: Completed
Business Registration: Completed
Opening of Corporate Bank Accounts: Completed
Securing Point of Sales (POS) Machines: Completed
Opening Mobile Money Accounts: Completed
Opening Online Payment Platforms: Completed
Application and Obtaining Tax Payer’s ID: In Progress
Application for business license and permit: Completed
Purchase of Insurance for the Business: Completed
Acquiring a big facility and remodeling the facility: In Progress
Conducting Feasibility Studies: Completed
Generating capital from family members: Completed
Applications for Loan from the bank: In Progress
Writing of Business Plan: Completed
Drafting of Employee’s Handbook: Completed
Drafting of Contract Documents and other relevant Legal Documents: In Progress
Design of The Company’s Logo: Completed
Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
Recruitment of employees: In Progress
Purchase of the needed family entertainment equipment, gym and fitness equipment, electronic appliances, office appliances and suppliers: In progress
Creating Official Website for the Company: Completed
Creating Awareness for the business both online and in the neighborhood: In Progress
Health and Safety and Fire Safety Arrangement (License): Secured
Opening party / launching party planning: In Progress
Establishing business relationship with vendors and key stakeholders in the industry: In Progress