Design and Capital Raising for Theme Parks: An Operational Perspective
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In the realm of theme park design, designers often find themselves urging Party A to secure funds for operations during the design phase. Meanwhile, Party A expects the design unit to deliver exceptional results, having already paid the design fees. It’s crucial to acknowledge that while design companies are experts, their personnel are constantly evolving. Designers may not have direct experience in park operations, necessitating thorough industry research. The operational team must verify the practicality of specific operational needs. However, some designers lack understanding of theme park design, including the planning of scenic spots and the arrangement of basic tourist centre functions. Such design units, reliant on operational and capital raising input at every step, are inadequate and ineffective, even with a dedicated operational team. Therefore, successful capital raising hinges on the design unit’s comprehension of theme park planning and design, enabling both parties to collaborate effectively. The owner’s operational team must also grasp capital raising, fostering mutual assistance. The initial point underscores the importance of involving a select few operators in project planning early on. The second point highlights the significance of operational capital raising and its execution. This viewpoint reiterates the necessity of a professional capital raising team: tasks should be handled by experts, not just anyone.
Between 2010 and 2019, China witnessed a surge in theme park construction, cultivating a wealth of industry talent. However, only those in operations have experienced the full lifecycle of large-scale projects, with many employees still in the post-opening operational phase. Despite numerous projects and a talent shortage, individuals with preparatory experience remain in high demand. Consequently, salary competition is fierce, prompting frequent job changes in pursuit of higher pay. While some individuals see projects through from start to finish, the vast Chinese market still lacks sufficient continuity in project experience. Over a decade, even with good fortune, one might only complete two large-scale projects. Having navigated a large-scale project from inception to completion, I now find myself in the early stages of another. I often remind my team to value the project process, continually learn, and accumulate knowledge. The boss has invested billions in tuition for the project, and the lessons learned should be cherished. Once the business opens, daily tourist interactions leave little room for further study, with some individuals experiencing this only once in their lifetime.
Building a Competent Team for Theme Park Projects
When embarking on a theme park venture, it’s essential to involve the core team early on and expand the capital-raising team during the design phase. No single individual can handle everything. Different design units should be engaged for various disciplines at different project stages, and the same applies to fundraising. Those with early-stage fundraising experience can better support design and project execution. Recruiting all experienced individuals is impractical, necessitating a “teacher-apprentice system” to nurture new talent. In this regard, prominent domestic cultural and tourism groups have excelled. Some are state-owned, while others are private enterprises, each with a mature theme park project management mechanism. They can recruit professional teams to support projects before and after completion. However, some local state-owned enterprises face challenges in the early stages due to salary systems and local government control, hindering their ability to recruit high-salary professional teams like mature park enterprises. Consequently, early-stage teams often consist of enterprise-prepared personnel unfamiliar with theme parks, impeding project initiation. Additionally, successful theme park development requires a team of hundreds for design, construction, and operational preparations. State-owned enterprises, constrained by preparation and budget limitations, typically outsource many early-stage professional services. Nonetheless, local state-owned enterprises are continually exploring and adapting system models to advance projects.
Ensuring Successful Capital Raising and Project Execution
When the design unit requests capital from the owner, the owner must fully cooperate by promptly recruiting a capable team to secure the project’s financial foundation. As a seasoned theme park professional, I advocate for the healthy development of theme parks. The content above contains no absolute right or wrong; it’s merely a perspective. If it resonates, consider it. Numerous factors influence outcomes, but let’s set those aside for now. My aim is to help investors minimise losses, avoid unnecessary detours, and strive to create better theme parks that operate successfully, contributing to the domestic profit park landscape. Let Party B, serving the theme park project, manage Party A’s funds as if they were their own. Operators should treat the park as their own and regard tourists as valued guests.
