My hopes for this blog is to help the folks that really do want to start a paintball field but have no clue what to do. So let me get you threw some of the top FAQ’s that I’m asked almost daily.
#1. INSURANCE- ” I hear it’s really expensive” – The answer is no! It is dirt cheap , the average policy from our preferred agencies is about $150 a month! That’s $1 million in coverage too. Now I’m not going to bore you with details but the reality is Insurance is the smallest challenge.
#2. LOCATION( INDOOR) – “I found an abandoned Wal-Mart in my town….”- I get this one a lot, let me help you with the math. A typical ” box” store or Grocery store is approx 40,000 square feet or more. If the rent is $1.00 a sqf that’s $40,000 a month in rent. Plus you have to pay A/C, Heat lights, etc. After 15 years of working with Indoor field owners here is the magic number. Do not pay more than $10,000 a month rent.
The challenge with paintball is that you need ” room” to play, the more room the better! However you have to pay for that room. Try this example. If you have a 20 people playing on a 20,000 sqf field that costs you $10,000 a month or if you had the same 20 people on a 10,000 sqf that costs you $5,000 a month which would you prefer?
The size of the field is irrelevant! It’s the rent! This works the other way, there was a guy I was working with who was working on a 50,000 sqf building for $5,000 a month! This guy didn’t have the funds to use all 50,000 sqf. Who cares! He can always grow into the space or use it for parking, the price is the key!
So again Do not ask what size field should I get? Ask: How much is the rent!
The other key for indoor is LOCATION! I really want to stress this! 50,000 sqf. is great at $5,000 a month but if people can’t find you it’s useless! The big challenge with indoor space is that if you want a low rent you are typically where people can not see you from the road. This why most indoors go out of business! They get a building with too high of a rent and a bad location! You can overcome a bad location if your rent is super , super low but it’s much better to pay $8,000 a month for a building that 50,000 cars drive by everyday than $5,000 a month for a building no one can see.
#3. FINANCING “I want to finance $500,000 worth of land and equipment but I filed bankruptcy last month”- True story!!!!!!!!
If you do have a big dream and no credit its ok! Just face reality, NO BANK WILL LOAN YOU MONEY!
However other people will! There are all kinds of private investors out there! No I’m not talking about Venture Capitalists. I’m talking Angel investors or Private Investors. These are people with LOT’S of money and want to help a dreamer! I’m an ANGEL INVESTOR myself so believe me I know. I can not stand the bureaucracy of banks etc.. So when someone approached me about a business that was working and just need some more $$$$ I was in! However I do charge a very large interest rate, and so will other Angel investors.
These people are out there but you need to find them, it’s called networking. I’m not going to go into that whole process but you need to be willing to open your mouth and start talking to people. Also you don’ t try it for a week then quit and say I couldn’t find anyone! If you want it bad enough you can find the right investor.
Also when you do find a potential investor, have you stuff ready, do your research find out exactly what it will cost. Print out the packages from my website www.emoneypaintball.net find out what rent will be, figure out what you are going to change have a basic business plan. You don’t need a $5,000 business plan, a pen and a calculator works fine, here is an example:
Equipment: $60,000 Indoor Turn Key Package
Rent: $5,000 per month (Includes heat, a/c etc)
Employees: 2 part time $3,000 per month
Revenue: Open 5 days a week 20 players per day = 400 players per month. $55 per player = $22,000
This is really all you need in the beginning stages, a potential investor would look at this and be happy to take the next step with you.
Another Option for financing is our NO CREDIT CHECK INSTANT FINANCING! Call us for more details on this! 310-750-6218 or Toll FREE 1-866-999-MONEY
More on starting a field in my next Blog!