It is still a good time to become involved in the FEC business, asserts US turnkey developer Creative Works.
Following its involvement in the recent Amusement 360 virtual event, the company reported that over 350 registrants had been quizzed with the question: “What’s your number one question about operating in the post-virus economy?” The most frequent response was: “Is this a good time to be starting an entertainment business?”
Creative Works, in a company blog, insists that it is a good time. Financing is a critical issue, but it points out that interest rates are low. Jerry Merola of Amusement Entertainment Management was optimistic, pointing out that banks are back online and ready to lend after a six-month hiatus.
The approach, he said, is critical. “Some of the most effective borrowing requests have come from businesses where the owner has literally bullet-pointed everything that they have done to improve their efficiency. It tells the banker that this business owner is engaged and looking for solutions."
Consumer demand is there, says the blog, stating that after consumers have been locked up for months "parents are desperate to get their kids out of the house and find something to do.” There is less competition because some businesses have closed indefinitely, opening up opportunities. And there are as a result many used attractions on the market.
Creative Works recommends operators to think positively and go all in on their business, their leadership skills, employees and guest experience. “The pandemic has shown us the importance of growing and evolving in the face of unpredictable circumstances,” the company stated.
