Bungee jumping is a very popular entertainment for adventure lovers. Also, the bungee jumping business is profitable for entrepreneurs. If you want to start this business, find here a comprehensive bungee jumping business plan checklist for your ready reference.
Nowadays, this type of entertainment is becoming hugely popular. And demand is also increasing. However, the business is cash-intensive. The business demands an upfront startup capital investment for equipment buying, licensing, etc.
What Is Bungee Jumping
It is an adrenaline sport. Here you are tied with a flexible, elastic bungee cord to your knee (in most of the cases. But in some cases, waist or hand is also tied) and you are made to free fall from a considerably scary height of average 40- 150 meters. Maximum bungee jumping companies offer a free fall from either a tall building or a waterfall, or anywhere you have a nice view of the surrounding.
Generally, two different types of jumping are popular. One is the free fall jumping and another is jumping using the trampoline. The first one is more dangerous than the second one. On the other hand, the second type of jumping is popular for those who fear height.
5 Important Things To Consider In Starting Bungee Jumping
- First of all, the business demands legal permission from the Govt. authority. And it hugely depends on the location where you are starting the business.
- You must identify a specific place for the event. Generally, you must select a place that has pleasant surroundings.
- You must have a business plan with investment calculations and marketing planning.
- Additionally, you will need to procure the equipment and instruments – simply bungee jumping kit.
- Finally, you must promote your business. And you must have a sales promotion strategy.
Investment For Bungee Jumping Business
Generally, investment depends on the type of jumping you want to offer. Because the free fall jumping demands more investment than trampoline jumping. Additionally, trampoline jumping allows you to change your place frequently. Therefore, if you are starting the business with small capital, then it is better to start a trampoline jumping business.
Basically, startup investment includes the rent of the space, licensing, purchasing equipment, and staffing. Additionally, you will need to consider the expenses related to transportation and advertising.
Starting Bungee Jumping Business | Basic Guide
First of all, do some market research. Identify what are the adventure sports already available in the locality. And how they are attracting customers.
Select what type of jumping you will offer. Because the rest of the aspects depend on this decision. However, you will need to select the business according to your investment capacity and the local market demand.
Craft a bungee jumping business plan. Mention business objective, executive summary, and ownership pattern. Determine your target demographics. Additionally, have a marketing plan with advertising and sales promotion strategy.
Register your business. Check the necessary licenses and permissions and apply them. It is advisable to have insurance coverage. It protects the customers and your business in case of any mishaps.
Finalize a place for the event. You can also offer the service in multiple locations. Generally, holiday seasons are the best time to initiate this business. Additionally, you can choose the location beside amusement parks or shopping malls.
Procure the equipment from a reliable company. Always procure good quality equipment. Additionally, check the warranty period. Ask the supplier company for installation and training.
Hire experienced and skilled manpower only. This adventure sport attracts a huge risk. Therefore, you must recruit fully trained and skilled professionals for your bungee jumping business. Ensure your crews have official certifications for this activity.
Promote Your Bungee Jumping Business
You can never get success unless you promote your business in a proper way. Definitely, you must promote the business locally. Choose a catchy and memorable name of your business and a logo. Make your business available on the local classified sites. Additionally, create your own website. You can also promote your services on social media carefully. Create a brand image.
In this business, the biggest success mantra is giving an awesome experience to your clients during the session. Think something different. You can offer tea, coffee, snacks, or cold drinks for your clients.