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Thread: Build, Buy or Lease

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  1. Default Build, Buy or Lease 
    #1
    Join Date
    Aug 2006
    Location
    Nashville
    Posts
    328
    Well the market on buildings in Nashville isnt wonderful unless you are a landlord. As I went to lock in a 7 year lease the owner slipped in an extra 100K into the contract like I wouldn't notice. I believe I read an article a while back with Cydney Neil and she said if she did it again she would of bought property and built instead of leased. So I contacted my contractor and I am moving forward. I am unsure if I want to build a bigger building (30k SF) with less land or buy good lot of land and start something with very small buildings, if any buildings at all, just facades... etc. What would be a descent size lot to do an outdoor attraction? Does location really matter if its within 30 minutes of the most dense population of the city? I have already lease a very large building for Hazardroom and storage so those aren't concerns. Thoughts please....?
     

  2. Default  
    #2
    Join Date
    Jun 2012
    Location
    Prattville Alabama
    Posts
    134
    Reverse planning: start from your desired result and work your way back. What a logical number of patrons your area will supply, is your marketing budget big enough to attach enough people, how much parking will you need to have, does you haunt support enough through put to accommodate your desired goals?

    These are all things I would consider when looking for a lot for an outdoor attraction. There are many things that will happen that are difficult to factor in, but using information or factors that you can control to develop a good starting point should help minimize the number of the unpredictable .
     

  3. Default  
    #3
    Join Date
    Aug 2006
    Location
    Nashville
    Posts
    328
    Thanks.. Market has good numbers. Outdoor haunts are supported. No problem on marketing budget or for being able to be competitive on show quality. Right now I am looking at 24 to 48 acres within 30 minutes of heart of most dense populated areas.. is that overkill? Guess I am just grasping for ideas or norms if such a thing. Thanks for the help.
     

  4. Default  
    #4
    Join Date
    Jun 2012
    Location
    Prattville Alabama
    Posts
    134
    What type of outdoor attraction are u wanting to do? A trail, hey ride, a portable haunt in a tent? All of these can be great attractions in their own right. I guess what I was getting at was how many cars can you park on one acre vs the amount of through put your attraction will handle. If your attraction is able to handle 300 customers per hour than you need enough parking to handle the number of cars that 300 people will park at your attraction for the time that that will spend at your attraction. Plus or minus some room for overflow, attraction workers, etc.. In theory enough parking for your max throughput put per hour for an attraction that a customer will spend an average of 45 minutes at should be sufficient as people will come and go and cycle the parking spaces available. Of coarse if more than 300 people show up within an hours time frame, all the parking vs through put calculations go out the window and you start managing the chaos. This is when you just make sure the haunt keeps running, forget about the chaos and focus on getting those customers through your attraction.
     

  5. Default  
    #5
    Join Date
    Aug 2006
    Location
    Nashville
    Posts
    328
    Thank you for the valuable information.
     

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