Is An Indoor Sports Facility Financially Viable?
The first question you must ask yourself during the facility planning and development phase is, “What kind of facility will we build?” To answer that question, you need to decide between an outdoor sports facility or an indoor sports facility. The biggest challenge when planning or developing indoor sports facilities is deciding if they are financially viable.
Indoor sports facilities are often more expensive to build than outdoor facilities and can often be more expensive to maintain. Before committing to your choice of facility, it’s important to know if it will be financially sustainable. Today, Sports Facilities Advisory will take a look at indoor sports facilities and their financial viability.
Is There Community Interest In An Indoor Sports Facility?
The next question to answer when deciding what kind of facility to build is whether or not your community has an interest in your indoor sports facility. The best way to do this is by conducting a feasibility study. With these studies, you can evaluate the interest your community has in your proposed facility and determine if it makes sense to build it.
Further, you can also dive into the details of your potential facility to determine what most interests your community. So, while your community might be interested in a community center or recreation center, they might not see the value that comes from indoor sports facilities.
Can You Afford To Maintain It?
If your community has a significant interest in indoor sports facilities, the next step is to determine if you can afford to maintain it. In theory, these facilities are financially viable with the right development funding and support from the community. And while building an indoor facility can be more expensive, the right support will make the process easier.
One significant factor regarding the financial stability of indoor sports facilities is maintenance costs. This will come down to your facility needs. In many cases, indoor sports facilities are cheaper to maintain because they don’t require as much maintenance as outdoor fields. However, if you have features like a pool, it might cost a good chunk of cash to maintain.
Contact Sports Facilities Advisory For More Tips
Deciding between indoor sports facilities and outdoor sports facilities can be tough, especially when you consider the financial burden of both. For more information or tips, give Sports Facilities Advisory a call at (727) 474-3845 or contact us online for more information.
