The feasibility study is the first step of the development process and provides critical

guidance for design, construction, and operations. It evaluates potential market support and
forecasts usage. It determines potential financial performance and maximum warranted
development costs. It provides detailed physical planning parameters. It recommends the
attraction mix and includes images for use in initial presentations.
The following paragraphs outline the major tasks typically involved in conducting a feasibility
study.

Task 1: Orientation Meeting

An initial meeting would be held to discuss the project in more detail and to see the
prospective site if one has been chosen.

Task 2: Site and Area Evaluation

The site and local area would be evaluated to determine its effect on potential usage.
Factors include:

Market proximity

Physical limitations or constraints

Access routes

Traffic patterns

Surrounding development

Potential complementary and competitive facilities

Task 3: Concept Description and Industry Trends

The type of leisure business being studied would be described and industry trends
discussed. Readers of the feasibility study may be unfamiliar with the concept and this
section of the report provides an introduction before specific project-related issues are
examined.

Task 4: Market Analysis

The market areas would be defined based on distance from the site. Demographic
characteristics for the resident market would be analyzed to provide an indication of
support. This would typically include:

Population growth

Age distribution

Income distribution

The tourist market would be defined and analyzed. Based on available information, this
analysis would likely examine:

Current size

Historic growth

Other characteristics

Task 5: Evaluation of Comparable Facilities

Selected comparable facilities would be examined. Available reported information
would be provided on individual characteristics, including:

Name and location

Physical description

Financial performance

Development costs

Market proximity

Task 6: Annual Usage

Potential annual usage for the proposed facility would be estimated for the first five
years of operation based on a number of factors, including

Planned components

Size of the available markets

Qualitative market characteristics

Market penetration rates achieved by comparable facilities

Location and possible competition

Task 7: Physical Planning and Concept Development

LBA would make physical planning recommendations needed to service expected
market demand. The specific parameters vary from one leisure attraction to another.
For larger projects, LBA can also provide master planning and schematic design
services. Physical planning parameters may include:

Estimated design capacity

Recommended types of activities

Recommended activity mix and sizing

Recommended visitor service space

Recommended parking sizing

Minimum land area needed

Initial conceptual efforts may also be provided. These could include:

Functional layout diagram for the new leisure attraction

Narrative description of a typical visit from the perspective of a typical family

3D computer graphics images of selected activities

The final report could also include a video presenting the results of the feasibility study
with a "fly-through" or "walk through" computer animation of part of the new leisure
attraction.

Task 8: Financial Analysis

The financial analysis for the proposed facility would be based on the selected concept
and potential usage. Financial estimates for the first five years of operations would
include:

Revenues by category

Operating expenses

Operating profit

Return-on-investment for equity investors

Task 9: Warranted and Typical Development Cost

LBA would determine the warranted development cost or investment based on
potential profitability. This is the recommended maximum amount that should be spent
to effectively develop the project and return a reasonable return-on-investment to
equity investors.
This warranted amount would be compared to the actual development costs for other
comparable facilities. Relative size would be taken into consideration. This comparison
would provide guidance as to whether the proposed project could be developed for its
warranted investment. If it can be, the project is considered financially feasible.

Master Planning & Schematic Design Services

As part of an expanded planning effort, LBA can also provide conceptual design
services. Click here for details.

Types of Attractions
The types of leisure attractions that LBA serves include the following, listed
alphabetically:

Amusement Park

Aquarium

Cultural Attraction

Entertainment City

Family Entertainment Center

Museum

Resort

Theme Park

Waterpark Resort

Water Park

Zoo

Business plan
*The purpose of a business plan is different than that for a typical feasibility study. The
feasibility study evaluates the market and financial potential of the project. The business
plan explains how the developer will specifically achieve this potential. It needs to persuade
skeptical readers that the developer has the ability to take the project to completion.

Conceptual Design
For new tourist attractions, Leisure Business Advisors LLC (LBA) begins by conducting
the feasibility study. This study is typically the first step of the development process,

and is generally required by investors and financing institutions. It evaluates potential

market support, determines potential financial performance, and establishes the
maximum warranted development cost. It is critical that designs are in line with
market needs and justified investment.
The feasibility study also provides initial physical planning parameters, such as total
land size needed and building space required. It also recommends the attraction mix
and major components.
LBA does not have an exclusive business relationship with a single design firm, and
welcomes opportunities for future cooperation. We can also expand our feasibility study
effort and add conceptual visualization services. These could include images of the new
leisure attraction seen through the eyes of a typical visitor, which would help define the
project's "look and feel" in financing and promotional presentations. This effort would
also begin the detailed planning process needed to move the project towards
completion. This expanded planning effort can be chosen at the start of the consulting
assignment, or added after the standard feasibility study has been completed.
We can provide this service in cooperation with Montchai Design. Tom Montchai is an
experienced leisure attraction designer and is a member of the American Institute of
Architects (AIA). Examples of his past work are shown on this page.
Although the actual design process differs from one project to another, the following
paragraphs outline a typical approach for a new theme park or amusement park.

Concept Development in the Feasibility Study

The development process generally begins with a site visit and initial meeting to
discuss the client's vision for the new leisure attraction. Conceptually, the design effort
begins with a blank page. The greatest opportunity occurs when unique aspects of the
project can be effectively integrated with the proven experience of comparable
attractions elsewhere and potential market support for this particular location. The
resulting plan is generally the strongest tool in financing and operational efforts.

Design Charrette
As the feasibility study nears completion, the physical and financial framework is in
place for conceptual design. The transition often occurs in a "design charrette" that
brings together the client group with designers and other creative team members. The
study's findings are discussed, and ideas presented by all involved.

Specific goals for this brainstorming session differ, depending on the type of leisure
attraction being developed. For a new theme park or amusement park, this effort can
begin with selecting a general overall theme and specific themes for individual areas.
The most popular themes typically involve adventure or fantasy.
From the start, it is important to keep the potential guest experience in mind. Ultimate
success depends on the new leisure attraction meeting visitor expectations and
desires.

Land Use Plan

At the design charrette, the master planning process also begins. It often starts with a
"bubble diagram" that applies the feasibility study's physical recommendations to the
client's site. This initial land use plan becomes more refined and detailed as it adapts
to the particular needs of the concept and site.

The above example provided by Tom Montchai, is from a past amusement park project
with five themed areas, each of which would have a unique identity that is reinforced
by its architecture and landscaping. A "theme park" typically has five to seven
distinctively themed areas under a broad overall theme.
The functional layout of this particular example basically follows the "loop" approach
that is common with many recent theme parks. In this layout, the themed areas
surround a central lake that often serves as the location for evening
spectacles. Another common layout is the "hub and spoke" approach that Disneyland
first popularized. It has a central visual icon (such as a castle) as its hub, with themed
areas fanning out from this centerpiece. Other layouts are used, and none is clearly
superior to the others. Unique site characteristics influence the choice of the best
functional layout, as well as other design aspects.
After establishing the themed areas, individual components are distributed within each
area. Major rides and shows are typically placed at the edges in order to attract guests

throughout the park. This approach helps maximize overall holding capacity and crowd
flow. The main shops are generally placed near the exit for convenience.
Based on typical guest behavior and pedestrian planning standards, a visitor circulation
plan can also be prepared to ensure smooth movement throughout the theme park.
This enhances guest comfort and prevents bottlenecks.

Illustrated Master Plan

Functional needs are combined with visual theming in an illustrated master plan. An
example is shown below by Tom Montchai from his past design work for a major new
theme park in China. As shown, structures are often color-coded by type in order to
aid optimum distribution and placement.

Aerial Perspective
Although functional aspects are critical for operational success, a new theme park also
needs to be visually appealing and understandable to non-professional individuals
involved with the project. An effective way of showcasing a new theme park is with an
aerial perspective, often from a "bird's-eye" perspective. The aerial perspective below
is for the same theme park as the illustrated master plan above, but this perspective
gives a better sense of what the theme park would look like as it more clearly comes to
life in the eyes of viewers.

As the overall design vision for the project takes form, more detailed views of smaller
parts of the project (such as an individual themed area) can also be prepared. Below is
an example of a close-up rendering that Tom Montchai prepared for the Town Square
entertainment complex in Las Vegas. This image shows the locally acclaimed children's
park area that opened in 2007.

Concept Art

Our visual perspective can shift to ground level, now that we have a detailed overall
perspective. The conceptual sketch, or vignette, below is one of the many concept art
images prepared by Tom Montchai for the Town Square children's park area in Las
Vegas shown in the close-up rendering above. These artist conception images provide
a view of the new leisure attraction through the eyes of a typical visitor.

Assistance with Later Design Efforts

This schematic design effort lays the groundwork for the subsequent design
development and detailed design stages. The concept art images of individual
structures will later become the starting point for scaled architectural drawings.
As an architect for Forrec Ltd, Tom Montchai was part of the design team for Universal
Studios Florida and was the project architect for its Fievel's Playland area. Below is one
of his facade sketches along with a photograph of the actual building on that theme
park's New York Street after construction.

More Details on the Feasibility Study Process

These design tasks are part of an expanded planning effort that begins with the
feasibility study. To learn more about the specific tasks involved in that study, click
here.