People say that hindsight is 20/20, and this is all too true for all businesses. The task of opening a business is hard enough what with all the things you have to do, with a seemingly never-ending list of responsibilities, but even if you are in the midst of a busy period, it is imperative to make sure that all your decisions are carefully thought out and you are not hasty with whatever it is you undertake. If you are opening an indoor playground, then you know that it can be tricky, especially with other factors that come into play, such as the security and safety of those who are using your facility, adherence to building codes and regulations, and the like. Here, then, are the top errors you should avoid if you are opening an indoor playground or play centre.
Failing to examine and assess your lease as carefully as possible
Hiring a solicitor is one of the best steps you could take if you are planning any kind of business, but it is more important if you are signing a lease. There are various kinds of leases, so have a good understanding of the kind of lease you are getting into if you are opening an indoor playground. Pay attention to details such as what the process is if you need to close up and what assets may be seized. You should also find out what kind of insurance you are required to have based on the lease, especially if your place is near a school zone, a restaurant, or in a location affected by natural disasters such as floods. It is also wise to find out which utilities or maintenance items you are shouldering, such as internet, heating and cooling, electricity, water, and so on. Lastly, find out your options if you wish to renew your contract; many landlords may work in an increase in rent, so make sure this is an expense you can afford in the future.
Failing to check out your competition
You should also try to find out about your competition. It’s easy to neglect this as you focus on your wants and preferences when building your concept, so try to avoid this pitfall. Check out your competitors in the area or nearby and examine their facilities and what they lack, such as multiple bathrooms, a classroom, seating for a café, climbing structures, innovative features, and so on. It would be wiser, after all, to fill a void your competitor lacks rather than to compete directly with them. Find out what can make you stand out – would it be something unique, like a sensory experience and virtual reality facility, a trampoline, and other interactive equipment? You should choose a good indoor playground supplier who can provide you with not just the standard facilities and equipment but something new as well.
Underestimating your operating expenses and costs
Even if you have already sorted out potential hidden expenses and negotiated lease prices, it is still easy to underestimate your operating expenses. For instance, lots of businesses fail to estimate the cost of staff training and the cost of small items such as paper products, cleaning supplies and equipment, and inventory – all of these can add up, so factor these in and leave room for unexpected expenses at all times.
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