How Turas Media Delivered a Feasibility Study for a Major Midwest Theme Park
Shawn Sires - Turas Media
Executive Summary: Feasibility Study for a Major Midwest Theme Park
Turas Media conducted a comprehensive feasibility study for a proposed theme park in the Midwest, providing a data-driven blueprint for its viability and strategic development. Key findings and recommendations include:
- Market Opportunity: Analysis confirmed a substantial visitor base within a 250-mile radius, identifying key target demographics.
- Geographic Accessibility: The proposed location demonstrated excellent connectivity via major roadways, ensuring easy access for millions of potential visitors.
- Consumer & Discretionary Spending: Assessment of regional consumer spending and entertainment expenditures indicated strong potential for visitor spending.
- Strategic Integrations: The study highlighted opportunities to diversify revenue through group and convention markets, and by leveraging the region's passion for sports through integration as a multi-purpose sports venue.
- Competitive & Operational Landscape: Benchmarking against the broader U.S. theme park market, and competitor parks within 350 miles, including sentiment analysis of competitors, informs strategies for competitive positioning and mitigating operational challenges such as seasonality and staffing.
The study concluded that the project is market feasible and provided a detailed roadmap for brand development, marketing, and operational efficiency, emphasizing the significant opportunity to capitalize on the region's strong tourism and sports tourism culture.
When a strategic investment group approached us with a bold vision to build a new theme park in the heart of the Midwest, the challenge was immense. They had a concept, a potential location, and a dream—but they needed a clear, data-driven blueprint to prove its viability. The stakes were high, and the project's success hinged on answering a series of critical questions.
- Is there a large enough market to sustain a major theme park?
- Can it overcome operational challenges like seasonality and competition?
- How do you build a unique brand that stands out in a crowded market?
Our Approach: Deconstructing the Opportunity
To provide a comprehensive, actionable assessment, Turas Media dove deep into a multi-faceted feasibility study. Our methodology went far beyond simple market research, analyzing the project from every angle to identify both opportunities and potential risks.
Market Opportunity: Turas Media began by defining the potential visitor base within a 250-mile radius, analyzing demographic profiles of the region and the broader state to pinpoint key target audiences.
Geographic Accessibility: Turas Media conducted a thorough analysis of connectivity via major roadways and proximity to key metropolitan areas, ensuring the proposed location was easily accessible to millions of potential visitors.
Consumer & Discretionary Spending: Turas Media's team analyzed general consumer spending and entertainment expenditures, using a major regional metro market as a proxy to assess the spending power of potential visitors. We looked at per capita recreation spending to gain insight into leisure trends and family travel preferences.
Strategic Integrations: Turas Media explored unique ways to diversify revenue and create a competitive advantage. This included an in-depth analysis of the group and convention market, as well as the potential for the park to function as a multi-purpose sports venue, integrating with the region’s strong focus on sports tourism.
Competitive & Operational Landscape: Turas Media benchmarked the project against the broader U.S. theme park market, assessing its competitive position against existing theme parks, attractions, and other entertainment options. The analysis identified key regional competitors, their strengths and weaknesses, and general market growth projections. A standout component of this analysis was Turas Media's unique sentiment analysis capabilities, which were used to understand consumer and traveler sentiment for competing parks to identify areas of opportunity. Turas Media also provided a clear strategy for mitigating operational challenges, such as seasonality and staffing.
The Findings: A Clear Path Forward
Turas Media's report concluded with a definitive assessment and a series of strategic recommendations designed to maximize the park's potential. Turas Media not only confirmed the project’s market feasibility but also provided a detailed roadmap for its brand development, marketing, and operational efficiency. The analysis highlighted a significant opportunity to leverage the region’s passion for sports, allowing the park to capture new audiences beyond traditional theme park-goers.
By turning a high-stakes vision into a clear, data-backed plan, Turas Media provided the investment group with the confidence and strategic intelligence needed to move forward.