Writing a business plan for any new endeavor takes careful planning and research before any bank will want to grant financing. Roller rink financing is not something that lenders see every day, so it’s on the borrower to make their point as to why and how a roller skating rink fits into the community. Most on the other side of the desk will have childhood memories of being in a skating rink and that can work in your favor. However, keep in mind those memories may be good, or bad. It’s easier on the borrower if the loan underwriter had a great experience on skates. But if they broke their arm at a rink, it may require more persuasion on your part, or finding a lender who spent every weekend at the rink when they were younger.
Beware of Online Templates for Sale
Before you find some template online that will sell you a fill-in-the-blanks roller rink business plan, consider the fact that the programmers behind these digital docs, have zero roller rink operations experience. You’ll see them offering up business plans for just about any industry, from karate dojos to ice cream parlors. However, roller skating rinks are a very specialized business with multiple profit centers within: from admissions, to the arcade, pro shop, rentals, lessons, parties, café, and in some cases, additional attractions. That’s why those one-size fits all business plans may not be as effective as seeking help from someone who understands risk management, what it’s like to be on wheels in a dark place, and why some ideas are a waste of money that you’ll never get your money back on, and why some are tried and true additions to roller skating rinks.
What Lenders Need to See
Therefore, do your homework, always keeping in mind what investors need to see in your roller rink business plan. This includes:
- A feasibility study that includes competitive analysis of other entertainment centers and/or skating rinks in your area.
- A written business plan on how you will achieve your goals.
- A SWOT Analysis.
- 3-5 year income projections.
- Anticipated operating expenses: labor, cost of goods, utilities, taxes, landscape maintenance, snow removal, carpet cleaning, janitorial supplies and services, supplies such as paper goods, wristbands, party supplies, HVAC maintenance, etc.
- The amount of money needed to open / such as construction or remodeling costs and initial inventory.
- The source of your down payment and how much you plan to invest.
- How your other career experience fits into owning and operating a skating rink. (Bonus points if you have 3 years of having worked in a skating rink.)
- A resume of the CEO and any partners/investors.
Who has the least chance of success?
Investors with no experience in the skating industry, or even those who have never skated within their lifetime. Unless they plan to have an exceptional manager, who is always in the building, it won’t work. The operators of roller-skating businesses need to have an innate understanding of what It’s like to be on wheels, how to teach skating, and deal with people of different skating abilities, age groups, and EQ. You can’t gain that understanding from attending a 45-minute birthday party and thinking that skating rinks are a license to print money.
How we can help
RollerSk8r LLC focuses solely on indoor roller-skating rinks. Plus, our background is in technical writing, with 25 years of experience writing resumes, career documents, and business plans. We studied how people read, and what decision-makers want to see, which is how our clients achieved the results they sought.
We don’t do templates or use AI. We create our own custom products for your particular project, by getting to know your goals, so we can help you get there. Want more information? Click here.
Further, we have created a comprehensive inventory list in an Excel Spreadsheet (with all formulas and calculations that tally up the necessary goods and equipment for opening day. Contact us to find out how to get your licensed copy to accompany your plan.
Let us help you decide if rink ownership is feasible, or a losing proposition before you invest your time and hard earned money.
As always, thanks for doing your due diligence before opening a roller skating rink. You’ll have a better idea of what you’ll need, and what it costs to run this unicorn of a business.
