Belfast, Northern Ireland. ‘We are Vertigo Inflatapark’ with 30,000 sq. ft. of indoor attractions currently has the unique distinction of being the World’s largest Inflatable Action Theme Park. Vertigo has a special story behind it and here it is:
Gareth Murthy, Managing Director, knew it was time after the extremely hot 2018 summer (40 tramp parks went bust after that summer) to transform and renovate his existing 3-year old successful trampoline park into an entirely new business, as revenues were decreasing, insurance costs were rising, and competition was fierce. At the time there were more than 220 trampoline parks in the UK. That change was Northern Ireland’s first InflataPark.
The complete conversion from trampoline park to inflatable park took only 12 days, with more than 100 tradesmen working 3-shifts dismantling the trampoline park structures and building the new mezzanine. Galaxy InflataPark (we know them as Galaxy Multi Rides) installed the 17 inflatable and mechanical attractions (200 guest capacity) during the last 4 days.
Galaxy Multi Rides reports, “An inflatable park is a cost-effective, lucrative new form of family entertainment. The production and installation costs are less than a third of developing a trampoline park or soft play center. An inflatable theme park utilizes 95% of the floor space for play as opposed only 65% of a typical trampoline park. There are currently no other attractions that maximize the return on investment as fast as an inflatable park.”
What this could mean? I visited Galaxy Multi Rides in Port Charlotte FL on March 5th and spoke with Robin Whincup (President) and his son Mike to fully understand why ‘InflataParks are the next big thing’ in our industry. This new park concept started in 2013. Currently, Galaxy has completed a dozen Inflataparks ranging from 4000 sq. ft. to 30,000 sq. ft. with another 7 in production. The best part is that adults can also participate and enjoy the inflatapark attractions and that additional per capita spend is a welcome addition to the financial model.
Cost Comparison – Trampoline parks cost on average $25-$35/sq. ft. Inflataparks cost on average $15-$18/sq. ft. and only take 3-4 days to install with no major construction needed, resulting in huge savings. Overall is appears that an Inflatapark cost half to 1/3rd of a trampoline park (here I am averaging International and US costs together).
Revenue Comparison – Based on what I have learned, it appears that so far Inflataparks are grossing on average 50% more revenue than trampoline parks. The average is $18/sq. ft. but of course, this is a bit higher than the larger Inflataparks and a bit lower than some of the smaller Inflataparks. An average is always a difficult number of get your hands around. Note that in the good old days, several years ago, many new trampoline parks were grossing $2.4 M, and the Inflatapark revenues are currently in their beginning years and it is unknown if these revenues will remain stable or decrease over the next 7-year cycle.
Hybrids also make cents. Adding/Substituting some Inflatapark attractions to an existing FEC or trampoline park is also being done – (Scene 75, Flying Squirrel, Indoor Sports).
HERE IS THE GALAXY ROI CALCULATOR.
The calculator can be used to determine your potential gross revenues of a Galaxy InflataPark. Based on my research, the 20% utilization is the closest to the actual gross revenues of a majority of the InflataParks in existence currently.
GALAXY INFLATAPARKS – ROI CALCULATOR
|Measurement||Per Hour||Size||Capacity per hr||Hours||Days|
|Weeks||Total (per Hour)||Total (Hours)||Total (Days)||Total (Weeks)|
|Dollars (Sq Feet)|
|Percentage||Total (per Hour)||Total (Hours)||Total (Days)||Total (Weeks)|
List of all the attractions in the We are Vertigo Inflatapark
- Ninja Warrior Course
- Sky Diving
- Inflatable Birthday Throne
- Biff Bash maze
- Giant Moon Bounce
- Hangry Hippo
- Toxic Meltdown®
- Toddler Zone
- Photo wall
- Ninja Challenge
- Ninja Warped Wall
- Electronic Interactive Team Challenge
- Warrior Battle Zone
- Giant Balls
- Wrecking Ball
- Two lane obstacle challenge.
- Warrior Run
- Climbing Wall
For more information visit them at www.wearevertigo.com