How Big Should Your Theme Park’s Audience Be?

Question

If you want to build a theme park with a capacity of 25,000 people at any given moment, serving people who live within one hour of travel time, and the following assumptions are true:

The park operates during the year but not in summer.
60% of the population is interested in visiting the park.
40% of the population will not visit the park.
During peak times, the park can host up to 25,000 visitors simultaneously.

How can I solve this?

Answer 1

Hi there,

I would be happy to share my thoughts on your question:

First of all, can you please provide a proposal that I can review?
Moreover, several pieces of information are missing, such as opening hours, average time spent in the theme park, and average occupancy. Thus, without this information, and contrary to what other coaches have said, it is impossible to estimate the required size of the theme park's audience.

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Best,

Hagen

Answer 2

Hi there,

To determine the required audience for your theme park:

Daily attendance assumption: assuming 80% utilization of the park’s 25,000 capacity, the average daily attendance is 20,000 visitors
Annual park capacity: with 250 operational days (accounting for summer closure), total capacity = 20,000×250=5,000,000
Visits per person: assuming each person visits 1.25 times per year (average between occasional and frequent visitors), the required population of interested visitors is 5,000,000/1.25=4,000,000
Adjust for interest rate: since only 60% of the population is interested, the total population required is 4,000,000/0.6=6,666,667

Conclusion: You need about 6.7 million people within one hour of the park to achieve full capacity, assuming 80% utilization, 250 operational days, and 1.25 visits per person annually.

Please note that the actual result doesn't matter. The reasoning and assumptions are key here, and showing how you justify them is often more important than the precise numbers.

Hope it helps!

Best,
Oumar

Answer 3

Hey!

I would probably do the following:

Determine the potential population within a one-hour travel radius: This gives you the base number of people in your target market area.

Apply the interest rate: Multiply the total population by 60% to find the number of people interested in visiting.

Adjust for frequency of visits: Consider how often the interested individuals are likely to visit (e.g., once a year, multiple times, or only occasionally).

Account for capacity constraints: Ensure that the number of visitors aligns with your park's maximum capacity of 25,000 at peak times.

Compare peak and annual demand: Validate that your calculated demand supports both your peak capacity needs and overall annual attendance goals.

Hope this helps! Alessa :)

Answer 4

Hi there, interesting prompt indeed, First in the clarifying questions part: 1. To approach this, first and foremost... (read entire answer)

Hi there, interesting prompt indeed, First in the clarifying questions part: 1. To approach this, first and foremost I would try to understand what the product does precisely i... (read entire answer)