Bungee Jumpers is a very popular entertainment activity among adventure seekers. Also, the bungee jumpers industry is highly profitable for budding businessmen. If you’re interested in starting up this enterprise, check out our comprehensive bungee jumpers’ planning guide for your ready reference.
Today, this kind of entertainment is getting extremely popular. And demand is growing too. But the business is very expensive. The business requires an initial investment for purchasing equipment, licenses, etc.
What is Bungee Jumping
You’re strapped into a harness attached to a giant rubber band. Your feet dangle above the ground. Then you let go. And then you fly! Bungee jumping is one of the best ways to experience the thrill of flying without having to jump out of an airplane.
Most bungee jumping sites offer tandem jumps, where you can jump with someone else who holds onto you during the entire jump. Or you can do solo jumps, where you must rely on yourself to hold on tight enough so you won’t get hurt.
Generally, two different kinds of leaping are common. Freefalling is an activity where people jump off something high into the air. The risk involved is that if they miss the target, they could die.
Trampolining is an activity where people leap onto a large sheet of rubberized material called a trampoline. The risk involved is not death, but rather injury. For those who are afraid of heights, trampolines can be very helpful because they provide a safe place to jump without risking harm.
5 Important Things To Consider In Starting Bungee Jumping
- Before launching any kind of online store, you must first obtain the necessary permissions from the government authorities. It largely depends on the country where you’re operating your eCommerce site.
- It’s important to choose an ideal location for your party. Generally, you need to pick a location where there are pleasant settings.
- You need a good idea for your company, a solid financial plan, and a clear strategy for how to market it.
- You will also need to purchase the necessary gear for bungees, including a bungee cord.
- You need to finally get out there and market yourself. And you need to have a marketing plan.
Cost & Investment For Bungee Jumping Business
Most people who jump do so because they enjoy doing it. However, free fall requires more skill and practice. Furthermore, it also requires a higher level of confidence.Â
Hence, if you are planning to start a business with low initial investments, then it is best to start a trampolining business. Trampolines allow you to move around quickly, thus allowing you to keep customers entertained. Also, you can easily get new customers through word-of-mouth advertising.
Startup investments include the cost of renting an office/workspace, licensing software, buying equipment, hiring staff, and paying for transportation and advertising.
A start-up costs anywhere from $10,000-$50,000 depending on whether you’re doing it on a large or small scale.
Bungee Jumping Business Plan Guide
To begin with, conduct a market analysis. Find out what adventure sports are already available nearby. Also, identify which ones attract people.
If you want to start a new career, choose a niche. You can either start your own company or join an existing one. For example, if you’re looking for a job in a specific industry, you may be able to get hired by a company in that field. Or you could look into joining an established company that already has a good reputation in your niche.
Write a bizplan: craft a bungejumping bizplan. mention bi-objective, exec summary, and ownership pattern. determine your target demographics. additionally, have a marketing plan with advertising and a sales promotion strategy.
If you want to run a hassle-free, legal, and compliant bungee jumping company then it is important to first talk to the relevant authorities and lawyers and determine which type of company structure best suits your needs.
For example, most small businesses prefer setting up an LLC because it both protects their personal assets and makes tax filings easier.
Obtain licenses and permissions for bung decking. Make sure they’re valid and up to date. Insurance helps protect customers and your company if anything goes wrong.
Select a date: Finalize a day for the event. You may also offer the services in multiple places. In general, the holiday periods are the best times to start this business. Moreover, you can select a place alongside amusement centers or shopping malls.
Buying the right kind of bungee cords is important if you want to start a successful bungee jump business. They are mostly made of high-grade rubber and latex.
Procuring the right tools can be difficult. Make sure you get the best tool for your job. Also, make sure that you buy the correct size. You should also ask about warranties and how much they cover. Finally, if possible, ask for help installing the product.
Recruiting staff: Hiring qualified and experienced employees is crucial for any company. You should hire people who can handle the risks associated with bungee jumping. Make sure they are certified before hiring them.
If you’re interested in sports business ideas, read this article too.
Promote Your Bungee Jumping Business
You can never get successful unless you market your products or service properly. Certainly, you should market your product locally. Pick a catchy and memorable name for your company and a logo.
Also, make your company available on the local classifieds sites. Furthermore, create your own website so that people can easily find out about your company. You can also advertise your products or service on social networks such as Facebook and Twitter. Finally, build an online reputation.
During sessions, think differently. Offer your client something different than just tea, coffee, snacks, or cold beverages.
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