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Chapman also served for four years in the Air Force and has run a successful business since 2008.
Considerations include the local population and demographics, the type of tracks and karts offered, how much you can reasonably charge per ride, the duration of the ride, start-up costs for your location, track and amenities and additional entertainment or refreshments.
Many indoor tracks are part of a larger recreational center that may include kid-friendly activities such as bowling or miniature golf.
Due to the potential liability involved in a go-kart business, you may want to consider opening it as a limited liability corporation rather than a sole proprietorship or partnership.
An LLC provides you with several advantages including: In addition to obtaining local licenses and permits to operate your business, you will also have to adhere to a range of regulations, including those in regard to how you store fuel for your karts and submit to regular safety inspections.
Your business plan is the most effective means to attract financing for your go-kart business, so you have to ensure that it’s complete and appealing. Are you going to appeal to youth as an alternative to attending amusement parks, or are you going to cater to adult weekend warriors who like to imagine that they are amateur race-car drivers?
Second, what type of revenue model are you following?After you’ve got a better idea of the type of track you want to have, lease commercial property.Look at warehouses—a popular choice for indoor tracks—which are easily accessible and offer a degree of visibility.Next, you need to determine if you will operate independently or locate your business within a larger complex to offset costs?Finally, choose a location that matches the information you’ve acquired about the mobile habits of your target audience.Expect to need about two to five employees, depending on the amount of carts you own.Develop safety training policies for your employees and youth, such as requiring children under a certain age to obtain a junior license.Shanika Chapman has been writing business-related articles since 2009.She holds a Bachelor of Science in social science from the University of Maryland University College.Purchase go karts for serious riders and for youth, helmets, neck braces, replacement parts, safety signage and gloves.Secure a catering company or purchase snack and beverage equipment, in addition to any other amenities, such as arcade games and a sound system. Ideally, look for employees who are familiar with go kart racing.