Sports Complex ( Bsc )

1731 WordsMar 15, 20177 Pages
Mark Lauber, a Wharton School of Business graduate, founded Branchburg Sports Complex (BSC) in 2008 after selling his and his father’s previous venture to another company. As a lover of sports and family entertainment destinations such as Disney Land, Mark envisioned bringing the “wow-factor” that these world renowned destinations possess to the realm of sports centers. BSC is a 78,000 square foot facility consisting of four indoor turf fields, basketball courts, training center, multi-level PlayMaze, arcade with redemption center, batting cages, and a three-floor 9,000 square foot interactive fantasy-themed laser tag arena. Advertising “fun and excitement for the whole family,” Mark truly provides activities for all demographics. He…show more content…
The warehouse that Mark had sold off when he sold his previous company was still for sale after being on the market for two years and having over $2M spent on getting it ready for sale. Since Mark had an existing relationship with the landlord, the real estate market was at a record low, and Mark didn’t have to take a loan since he still had the cash from his previous venture. The landlord was asking $9/square foot, tempting Mark to make the same mistake that the competition made. Instead of accepting it and falling into the trap, Mark did extensive research on the town and comps in the area and felt confident offering $4.50/square foot in four consecutive five year leases starting at $4, then $4.25, all the way to $5 thus freeing up more working capital for the launch of his business. Mark’s homework on his timing paid off and locked down the warehouse he previously owned but for his new venture. Mark proceeded to hire consultants who specialized in sport center business start-ups with his extra working capital. They had never advised the start-ups including a “wow-factor” such as laser tag or an arcade until they met Mark. Now every client who uses this firm is advised to diversify their market by including the “wow-factor.” The consultants conducted a feasibility test which gave Mark a report consisting of the amount of children, adults, schools, competitors, and other factors in the region he
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