Our major aim of starting Chi Ha water park will be encouraging families in the community and other districts to cultivate the habit of going out for recreational activities that will keep them active and impact their health positively. We will ensure that we hold ourselves accountable to the highest standards by meeting our client’s needs precisely and completely. The Water Parks industry has a very large industry and pretty much thriving in all parts of the world, especially in developed countries such as the United States of America, Canada and more. Belize is continuing to develop within the years, and there is a higher demand for recreational activities such as water parks. Due to the seasonality of the Water Parks industry, industry operators in those developed countries concentrate themselves in regions where there is favorable weather. 8
Belize has a tropical climate with humid weather 80% during the year. This favorable weather makes it perfect to conduct a water park in our region. The amount of water parks in Belize is very limited; research shows that there are only two other destinations that offer a miniature water park service. We project that there will be an annual growth rate of at least 2% per year rate for this type of service. Once an established water park with several different activities and slides introduced, the industry rate for this will rise. Relative Economic Health Do not be fooled and have the thought that water parks are only for amusement. A person’s body is working hard when they’re in the pool. Swimming energizes more of your body’s major muscle groups than other forms of cardio exercises. This will be a great practice to keep kids entertained and active whilst still having fun instead of being home playing video games or stuck on the internet. For adults, it will be a benefit to your back as well, working out in a horizontal pose – as opposed to the upright position the body assumes during other forms of exercises. This will be an ideal way to counteract all the time spent hunched over a work desk or steering wheel. Market Entry & Exit Market entry should be easy as there is limited competition and a large enough customer base for Chi Ha’s start-up venture. A strategic market entry plan will be put in place to ensure that entry is successful. The price of the largest competitors is $10 for the entrance fee. Chi Ha Water Park price will be higher because of the large variety of services it will provide for the customer while still being competitive. Grand opening discounts will also help to jump start Chi Ha’s revenue. If Chi Ha Water Park was to not be successful, instead of completely abandoning the project, the site can be turned into something else. The site will be used as a venue for different events. The slides will be sold, and the site will be used as a swimming pool and decreasing the price by $10 to still compete with others in the market.
- Fall '19
- West Edmonton Mall, Water parks, World Waterpark, Chi Ha Water Park, Chi Ha Waterpark