Frequently Asked Questions
The following are our most Frequently Asked Questions. If you have any other questions regarding ITPS and how we can assist, please Contact Us.
Unfortunately, there are many great ideas that are unable to raise capital to take the first steps. ITPS does not provide financing, nor do we enter into any type of partnership or joint-venture agreements. However, after ITPS completes a feasibility analysis, we can help our clients through introductions as well as making other entrees to potential financiers / investors.
ITPS maintains a strict policy against investing in any project. By becoming investors, we would lose our objectivity and we would not provide our clients with the high level of service that we have become known for. Simply put, ITPS is not a bank or financial institution.
After we complete a feasibility study, ITPS can make introductions on behalf of clients to potential investors.
Many of our clients finance the initial feasibility directly. Often, additional financing cannot be secured without a feasibility analysis. Clients can often recoup this study cost once the project secures financing.
Due to the individual nature of each project, ITPS does not maintain a flat or standard rate for the completion of our feasibility analysis. Each project is unique, and to maintain a set scale of fees would be unfair to our clients.
Think of it this way: I want to have a house built and ask the architect "How much will it cost?" The architect then must know land cost, house size, number of bedrooms, baths, materials to be used, etc. Make sense? ITPS then must know a great deal about your proposed project in order to provide a quote.
A business plan does provide valuable information needed for the daily operation of any successful project. Data that is needed for the success of the project is included in the business plan. Methods targeting specific audiences, daily projections of attendance, and inclusion of operating philosophies are also often included in a business plan.
A feasibility study outlines ALL of the data needed to ensure that a project is an economic success over a longer period of time. The inclusion of a complete marketing analysis, financial projections, and design parameters in our feasibility analysis lay a solid groundwork for all future tasks to be completed.
A feasibility study is necessary for several reasons. First, by having an outside company such as ITPS perform the analysis, the legitimacy and credibility of your idea or plan is confirmed by an outside party; i.e., ITPS. This non-biased analysis provides reassurance to any investors that this is the correct way to invest. Secondly, the feasibility study gives you investment parameters according to the recommended size and scope of the project. This helps to assure that you do not "overbuild" or "underbuild". Finally, and just as important, the feasibility lays out the ground work needed by the designers of your project. By designing a project without a feasibility to follow, much time and money will be wasted.
At this point, remember, ITPS also designs projects. So, how can ITPS be non-biased if ITPS wants to also DESIGN a project? Easy answer here! ITPS does NOT want to be associated with a project which will fail. So we certainly would not prepare a feasibility study which said "the project is good" just so we could design it! Remember, our reputation is on the line also!
In the event that ITPS discovers that the project is not viable, we will stop and confer with the client about the next steps (this could be as simple as changing the concept to one what would work). Should the client decide not to proceed, ITPS will return any money paid, but not used, to the client. ITPS feels this is fair.
ITPS is unable to give costs or even estimates of costs until we are able to gauge each project. Remember, each project is unique and ITPS treats each one as the individual entity that it is. However, once we have completed the feasibility analysis, our Design Department can then get a realistic picture of the project and proposals for further steps can be given.
Because each project ITPS is involved with is so unique, no standard answer can be given in regard to project costs. Obviously, the larger the project, the more expensive it will generally be. However, exact costs do vary from project to project. While there are some rules of thumb, again until we know more about your project, we cannot "guesstimate".
As with all estimates of costs, this is highly variable. Factors such as site location, level of technology, number of attractions, and design complexity will vary widely from one project to another. While one 100 acre development might be in the 10-20 million dollar range, another project could easily be 200-300 million dollars. Each project is unique, and therefore, so is the price.
ITPS can oversee construction on a project, however, it is our experience that a local construction manager can provide better service. Why? Because they are familiar with local building codes and guidelines. The use of a local manager will often save money for our clients as well. Local supervision is best during the construction phase of project development.
ITPS does prepare all drawings leading up to construction drawings. We have found that each client's area is special as far as codes (electrical, etc.) and local engineers save the client money by understanding these as well as being better able to work with the local government entities.
Because of our extensive industry experience, we have worked with virtually every manufacturer at one time or another. We can provide a personal contact that may otherwise be impossible to reach. In addition, ITPS can recommend certain products and / or companies based on our previous experience with them. This will save our clients both time and money as they move forward in the completion of their project. We know who is reputable, reliable and would fit within our clients' budget. Lastly, as we provide this service for a vast number of clients worldwide, cost to your project will typically reflect this volume discount.
"Pre-opening" services give a solid groundwork for the project to grow and thrive upon. The experience of ITPS allows us to provide all the services needed to ensure your project is a success once it opens to the public. These services may include, but are not limited to:
- defining staffing requirements for all departments
- establishment of product plans for all retail establishments
- development of budgets
- staffing timelines
- writing job descriptions
- manual development for all operational areas
- creation of orientation programs
- execution of complete training programs, either at an established park or on-site at the project
In other words, Pre-Opening services are all items required to be in place the day the facility opens to the public. These services generally are provided while the project is being constructed.
No. This, we feel, would be unfair to either client or ITPS. We review the project and then provide a design proposal based on the number of man-hours we estimate it will take to get the job done based on past experience.
Yes. ITPS can provide on-site management for your project or facility. ITPS can act as either the project manager, or find suitable candidates to be hired directly by the project. We have in the past placed General Managers, Construction, Safety, Entertainment, and Maintenance ITPS personnel on site. This allows the project to receive feedback and guidance daily from these individuals as well as ITPS corporate.
Although ITPS has many contacts in the amusement industry, we do not assist potential new attraction developers. We are not builders or designers of prototype attractions. We do, however, suggest you join the International Association of Amusement Parks and Attractions ("IAAPA") and contact any of the numerous ride manufacturers directly.
Although ITPS does have on-going relationships with many of the major developers, we do not act as an agent in the introduction of projects.
ITPS is recognized as a leader in the development of leisure projects around the world. ITPS President, Dennis Speigel, is a highly-respected member of the industry elite. The ITPS staff has combined experience of 325 years. This experience is all "hands-on" too. With varied backgrounds in the actual planning, design, operation, and management of parks around the world, ITPS has the most complete package of any consulting company in the industry. We acknowledge that there are many fine companies who compete against us, but ITPS is the ONLY company that offers a complete range of services, with the personal attention needed to ensure that our client's needs are being met.
We are most pleased to count our clients as our friends.