Inception/Development - humankinetics.com case study examines the financial and strategic ... Gil used to play at the public Robin Hood Park and Forest, ... feasibility study,

1

Volume 1 Case Study 7IN SPORT MANAGEMENTCase STUDIES

This content is copyright © Human Kinetics, Inc. and is not to be distributed, disseminated, or reproduced without permission.

Gil’s Sportsplex

Gil FriedUniversity of New Haven

Keywords: facility management, strategic planning, finance

Gil Giles has a passion for softball and wanted to turn his passion into his second career. After retiring from the police force he decided to invest at least $2.8 million (including borrowing $1.7 million) in building a six field sportsplex. Although the research and the numbers did not support his decision, his passion was so strong that he decided to take the risk. While he enjoys the thought of owning a sports facility, the reality of day to day management and paying the bills is another story. This case study examines the financial and strategic underpinning for building the facility. From analyzing potential revenue streams and expenses to the profit margin for concession goods, Gil will need to pinch every penny to make his facility financially viable. Luck-ily he hired a manager to help run the facility, but if he had several rain-outs, or fails to attract the leagues he hopes for, his financial plans could be ruined. Is it ever safe to have a business model with such thin margins?

Gil Giles went to work on this typical winter day in New Hampshire. He was used to the cold, but this was an especially cold day. The thermostat in his office read 62 degrees, but he knew it was at least 40 degrees cooler outside. He could see the two feet of new snow on his fields. Soon enough he thought, spring will be here and he would be able to get the fields up and running and start making some money. Gil is the primary owner of Gil’s Sportsplex, a six-field softball/baseball facility in Keene, New Hampshire. He offers one of the only lit and the only private sportsplex in the region. The facility opened in 2011 after several years of planning and construction. Each field has a dirt infield and a Musco lighting system. The outfield is comprised of natural grass with a below ground, insulated irrigation system, so pipes would not freeze during the harsh winters. The main building in the six-field hub has an administrative office, restrooms, two indoor batting cages, two training tunnels, a small workout area with elliptical trainers and other cardio machines, and a snack bar. Several smaller outer buildings serve to store equipment, tractors, fertilizer, turf care products, and other supplies. These “Butler Buildings” are steel constructed buildings on a cement foundation designed to minimize costs. The complex also has a beach volleyball court, a kids play area (tot lot), and a picnic area.

Inception/Development

Gil was a strong high school baseball player and an avid softball player for the past twenty years. After retiring from his job as a police officer, he took some money from his retirement as well as some inheritance and bought a 120-acre parcel of land. The land was relatively flat and there was no development in the area. The land was zoned for rural usage. The Zoning Board of Adjustment had been helpful in getting all the right government agencies to sign off on building the facility. Gil used to play at the public Robin Hood Park and Forest, but he wanted a better playing opportunity. The park has very simple fields which are good for kids, but not for competitive softball players. Gil also saw that the City’s Park and Recreation Department had plenty of basketball and soccer leagues, adult dodge ball leagues, and

Fried is a Professor and Chair of the Management of Sports Industries program at the University of New Haven, West Haven, CT.

2 Fried


even a whiffle ball league. However, there has been very little softball available, and that is why he wanted to build his sportsplex. He convinced two friends to also contribute their time and some operating funds to help launch the venture.

Gil had never run anything similar to this facility. He had worked as a little league umpire in high school, but that was the extent of his experience. He knew how to take care of his lawn, but he never worked with riding mowers, tillers, sprayers, core aerators, and all the other equipment that would be required to have nicely groomed fields. He had worked as a waiter for two years in college, so he knew some of the basics associated with a food service facility, but he never had to serve several hundred people at once. The only thing Gil knew was that he was born and raised in Keene. He was an officer in the city’s police force and went to college at Keene State. Thus, even though a facility in a warmer climate was an option, Gil only wanted to build in Keene.

Keene can receive 100 inches of snow a year. Thus, there are a number of months where it is impossible to play outdoor sports. Snow normally starts in late November and ends around late April. The average temperature in May through September is 71-83 degrees, so softball and baseball can be played outdoors almost from the end of April through the middle of October, which is 26 weeks. This could lead to leagues of eight weeks each played during the week. Such a schedule allows a number of weekends for softball and baseball tournaments, which is considered one of the most profitable components of the facility.

Industry Analysis

Before examining Gil’s motivation to build the sportsplex, it is imperative to examine what is a sportsplex. A sportsplex is defined as an indoor or outdoor sport facility where multiple sports can be played on various surfaces. There is no one perfect example of a sportsplex as some are indoor facilities where athletes can play volleyball, basketball, tennis, or other sports/events. There also are a number of outdoor sportplexes where athletes can play softball, baseball, lacrosse, and soccer. The Sportsplex Operators and Developers Association (SODA) developed a Sportsfield Planning Guide and advocates developing a needs assessment, feasibility study, and then the preliminary design. In a needs assessment, SODA recommends an analysis of the following elements:

• the community population that will support the sportsplex once it is built,

• the participation rate in amateur sports that will be offered, fees charged at other facilities, availability of other facilities, and the quality/usage of competing facilities,

• any future projections for participation numbers, sports growth, or future facilities being proposed, and

• the best combination of activities that can draw the largest number of facility users.

This information should be supplemented with a list of local competitors, how many fields are available in the area (both lit and unlit), league and tournament fees in the area, are there waiting lists to enter any other facilities and, how many tournaments are available for sanctioning in the state, region, and nationally.

The Planning Guide highlights that a six-field sportsplex needs at least 22 acres of land to provide enough space for fields and a parking lot. A typical six-field complex can host, at the most, 384 teams per week if it has lit fields. An unlit six field complex can only host 336 teams per week.

While there is no typical sportsplex, one facility in Connecticut serves as a good frame of reference for Gil’s facility.The CT Sportsplex is located in North Branford, Connecticut. The population of North Branford is approximately

14,500 residents. This Sportsplex has both indoor and outdoor facilities. The indoor facilities include a field house with batting cages, laser tag, bumper cars, playscape, arcade, and a short artificial turf field for instructional use. The turf field and batting cage component of the fieldhouse has 13,000 square feet including a field that measures 120 feet x 100 feet. The various areas in the fieldhouse can be rented for 30 or 60 minute intervals. The cost to rent hitting tun-nels is $18-$25 for 30 minutes and $25-$35 for an hour. The full baseball field of the facility can be rented for $105 for 30 minutes and $175 for an hour.

CT Sportsplex also has a fabric dome that contains one large regulation soccer field (185 feet x 90 feet) which can be divided into four separate fields for various leagues and tournaments. The dome was opened in 2001 and is a

Gil’s Sportsplex 3


75,000 square foot facility. The outdoor facilities include five lit baseball/softball fields and a golf driving range. The baseball/softball fields were opened in 1998 and host 40 baseball and softball tournaments a year. The price for rent-ing the fields is:

CT Sportsplex members are charged:$75 per hour for lit fields and or $100 per gameNon CT Sportsplex members are charged:$40 per hour during the day, $100 per hour for lit fields and $150 per game (http://ctsportsplex.com/index.

php?option=com_content&view=article&id=149&Itemid=331)The CT Sportsplex is owned by a family who owned the land upon which the facility was built and had the resources

and passion to help start and expand the complex. The complex initially started with just several baseball/softball fields. Over the years the dome, driving range, and lastly the field house were built. These additions occurred over a seven year period. The facility offers instruction in:

• baseball (including clinics and camps),

• lacrosse,

• soccer, and

• youth sports.

The facility offers a variety of leagues that play all year round. Some leagues, such as football and soccer, are very strong because they play in the dome during the winter.

Baseball and softball are played on the field in the spring and summer. Leagues cover the following sports:

• baseball,

• softball,

• indoor football, and

• youth/adult soccer.

There are three primary tournaments played at the facility and they are baseball, soccer, and softball tournaments.Tournament revenue is a significant economic engine for the facility. Besides revenue from tournament entrance

fees, the facility:

• charges admission to enter the facility during tournaments,

• does not allow food or drinks into the facility to help generate significant concession sales,

• receives commission from recommend hotels (there are nine such hotels) and restaurants, and

• has several sponsorship deals for facility related signage and Internet promotions.

The deluxe sponsorship package is described on the facility’s web site as follows:Deluxe Package:

• 5’ x 5’ full color sign located in high traffic area of dome (sign production not included in cost).

• 5’ x 5’ full color sign located in high traffic area of Fieldhouse Family Fun Center (sign production not included in cost).

• Coupon to be handed out to all indoor league teams and walk-in dome traffic (Sponsor must provide)

• Your company logo, contact information, and hyperlink to your website on the Connecticut Sportsplex website

Your Cost - $20000 (http://ctsportsplex.com/index.php?option=com_content&view=article&id=74&Itemid=364)Besides tournament revenue, various coaches pay to use the facility and employees conduct a number of clinics

and educational programs. Revenue is also received from birthday parties, facility rentals, and children who use the

4 Fried


fieldhouse while their parents/siblings are playing. It costs $170 per hour to rent fields in the dome. The fieldhouse has been rented to various organizations for snowboarding events, festivals, and business expos.

The CT Sportsplex has competition from several other facilities in the region. There are 11 sportsplex type facili-ties within 60 miles of North Branford. One such competitor is the Sportsplex at Fairfield. The Sportsplex at Fairfield does not have outdoor fields, but has a large fieldhouse and an indoor ice rink. The sports played at the facility include:

• soccer,

• golf,

• lacrosse,

• football,

• volleyball,

• hockey,

• ice skating,

• field hockey, and

• baseball training. The facility also has several tenants who operate from the facility and represent significant revenue sources including:

• BK Athletics,

• Carabiner’s Indoor Climbing,

• Cinch Foods,

• East Coast United,

• Fairfield Hot Yoga,

• Fairfield Pilates,

• Fairfield Sports,

• Fairfield Fencing Academy,

• First Person Sports,

• Get In Shape Women,

• The Stand, and

• World Champion Taekwondo.

The primary difference between the Ct Sportsplex and Fairfield Sportsplex is the limited amount of tournaments in Fairfield, while tournament revenue is a significant revenue source at the CT Sportsplex.

The Numbers

Sport participation numbers show that the most popular sports in the United States are recreational activities such as walking, exercising with equipment, swimming, camping and bike riding. The most popular active sports are running, basketball, and soccer. In 2010 there were 12.5 million active baseball players (up 8.9% from 2009) and 10.8 million active softball players (down 8.4% from 2009). The sports with the greatest growth over the past several years include yoga (up 28.1%), kayaking (up 14.8%), and cross country skiing (up 19.5%).

Keene’s population is 22,563 residents (2000 census), of which 46.86% were male and 53.14% were female. The median age was 35.3 in 2000. The key age range of 15-24 represents 22.68% of the populations. The population for 25-44 year-olds represents 24.7% of the population. The median household income in 2010 was $37,033. Approximately 17% of the population was over the age of 65. There are 8,955 households in Keene and there are 5,083 families in the city. Keene is located in Cheshire County which has 23 towns and spans 707 miles. The population for the county was 76,000 in 2000.



The 2010 Sport participation statistics show that 22.3 percent of Americans aged 45-plus participate regularly or frequently in slow-pitch softball. There are over 1.3 million residents in New Hampshire and 35.8% are over age 45.

The most frequently read paper in the city is The Keene Sentinel. The Keene State College student newspaper is The Equinox. There are a number of radio stations in the area, but the most popular is WKNE.

Keene State College has 5,400 students and represents up to one quarter of the city’s population during the school year. Keene State has a softball and baseball diamonds and intramural recreational fields. Keene High School is the largest regional high school in the county and has playing fields. The one middle school and five elementary schools in Keene have fields, but no real diamonds for baseball or softball. The largest baseball field in town (Alumni Field at Keene High School) is home to the Keene Swamp Bats, a team in the New England Collegiate Baseball League (NECBL).

What and Where to Build

Based on his love of softball, Gil decided to build a baseball/softball complex. He wanted fields that could be used for both sports so the infield is skinned and does not have any grass. The grass line is beyond the 90-foot point for regula-tion baseball bases. He visited several similar facilities in Massachusetts, Connecticut, and New York. The owners he met were very passionate about their preferred sport, similar to him. Most owners had limited experience before they opened their facilities and they indicated that they operated on very slim margins. They were able to pay their bills during the key sport seasons, but during slow times the money was very tight. They also were very clear that Gil would have to market like crazy because these facilities often sit idle during the school year and during the workday so they suggested he develop some innovative programs from the start to attract more business during slow hours. Almost half the facilities lost money in their first several years. Gil also heard numerous stories of unsuccessful sportsplexes that had closed due to financial problems.

He initially thought of building a three-field complex. However, he had a conversation with a local Little League official who indicated there was a need for additional baseball fields. Thus, Gil built several more fields so he could also rent out fields for other purposes. The various owners Gil talked with highlighted the importance of contractually obligated revenue so Gil was able to enter into five contracts with several local leagues to host their teams and tourna-ments at Gil’s.

Gil found a 120 acre parcel of land not far from a highway and located far enough outside of town that the cost per acre was reasonable. The land was close enough that athletes could take advantage of local fast food restaurants and stores located less than a mile from the facility. The land had been on the market years ago and the buyer at that time had undertaken core sampling so the land was known to be free of any contaminants or hazardous materials. Gil hired some students from a local business school to develop a feasibility study. The study showed there was a need for an indoor multi-use sports facility, especially during the winter months. However, the cost for an indoor sportsplex was cost prohibitive. Gil felt there was enough interest in baseball and softball to develop his concept. Gil’s perspective was that even if the facility did not work after several years, the land could always be sold to build a shopping center. Gil was hoping that he would not need to exit his business, but his partners advised him that any potential business decision needs to explore the potential for failure. The land cost $10,000 per acre so the total cost of the land was $1.2 million. Gil found a great lawyer and accountant who helped navigate him through the various legal and tax issues he would face. The only thing Gil was adamant about was that the facility needed to be opened by May, 2011 to cover loan obligations. Gil felt he could possibly get several major tournaments in before August and then could run several leagues before winter arrived. This would be critical for everyone to get accustomed to the facility and to make sure the next year ran smoothly. Due to tournaments often returning to the same facility, Gil also needed to start developing a reputation for running quality tournaments to gradually increase the number of events he could hold on a yearly basis.

Facility Construction

Gil hired a local architect to design the facility. However, the architect had never designed a softball complex before and there were several concerns with the design. For example, the irrigation and drainage system seemed inadequate and there was no crown on the fields. Luckily Gil spotted these concerns early with the help of Bob Jones. One of the

6 Fried


first, and best, pieces of advice the other facility owners gave Gil was to hire an experienced facility manager before he started construction. Bob Jones worked at a similar sportsplex in New York. Gil hired Bob before he broke ground or even finalized any blueprints. Bob put Gil in contact with a field designer and architectural firm that had designed 10 other complexes and they knew what they were doing. Thus, the first design was scrapped for a more appropriate design. The move cost Gil thousands of dollars, but it would have been more expensive to have built the facility wrong, and then spend thousands more to repair the mistakes.

Gil worked with a local general contractor and a construction manager to help develop the best pricing for the project. The general contractor hired independent contractors to handle various components of the construction process. Such contractors included an electrician, plumber, roofer, drywaller, painter, and a turf specialist. All these trades were hired and supervised by the general contractor who worked directly with the construction manager. This relationship helped create a seamless process where Gil was able to stay out of the construction process, have the people in the know do the work, and still come in just a fraction over budget and on time. The initial estimate for the construction cost was a tad over $1.6 million.

The construction costs for the six-field complex was as follows (see Table 1):Very little site grading was needed, since the land was primarily fields, but there were some trees and rocks that

needed to be moved. Instead of paying thousands of dollars to grub the property (remove the growth), Gil got his partners to use their heavy equipment to grub the property. Gil understood that he would have to do a lot of bartering to get his facility built in the quickest and cheapest manner possible.

The construction time line was as follows (see Table 2):Gil was not just concerned about building the facility. Gil needed to furnish the facility. The snack bar cost over

$290,000 including equipment. Equipment is often referred to as Furniture, Fixtures and Equipment (FFE). The snack bar required a significant amount of equipment as highlighted in Table 3.

With construction in full swing, Gil sat down to develop the direction for his facility. He started with analyzing his financial position.

Financial Analysis

One of the first suggestions from his lawyer was forming a Limited Liability Company around the sportsplex. The facility was too new and without a strong enough track record to raise funds through an initial public stock offering. By starting as an LLC, Gil could pay taxes as an individual, make his accounting less complicated (he did not need any audited financial statements), and he had the legal protection he needed to protect his personal assets. He issued himself and his family members 9,000,000 shares and his partners were given 500,000 shares in the LLC. He was willing to give a future investor another 500,000 shares from his own personal ownership percentage. Each 500,000 shares entitled the shareholder to five percent ownership interest in the facility and an appropriate share of any profits.

The total construction cost for the facility was $2.8 million. Gil used the $1 million inheritance he had and he used $300,000 in savings on the facility. He had some extra money saved to cover miscellaneous expenses over the construc-tion and launch process. This was in addition to the money he received from his partners. To help finance construction, Gil took out a business loan from a local bank. The bank felt comfortable loaning the money to Gil because he has a strong record of banking with the bank and he had put enough of his own money into the project. Gil was also willing to put the land down as collateral for the loan.

The project’s initial expense was the $1.2 million for the land and $1.6 million for the facility. Gil took out a 15-year, $1.7 million loan since he wanted to have $100,000 in reserve for unknown expenses. The additional $100,000 was used to start a sinking fund for the future and supplies. Due to the poor economy, the sinking fund could only earn around two percent a year in the bank. However, the bank was willing to give Gil favorable interest rate for his commitment to keep the sinking fund with the bank. The loan carries an interest obligation of 5% and is compounded annually. The monthly payments for the loan are $13,648.49. This would create an interest payment of $756,278.33 on top of repay-ing the $1.7 million loan. Loan repayment and payroll are the two largest anticipated expenses.

Gil developed a pro forma budget highlighted the anticipated revenue and expenses his first year as highlighted in Table 4.

7


8




Revenue was anticipated to come from tournaments, coaching, league fees, and other miscellaneous sources. The facility hopes to have 14 tournaments its first full year and then expand to more tournaments in subsequent years. Gil has to pay to earn the right to host a tournament. The bigger the tournament and anticipated number of teams compet-ing, the more Gil would have to pay to host the tournament. Thus, the cost to bid for a national tournament might be $25,000 for a number of major tournaments and it is hoped that this expense will be covered through various revenue source such as:

10 Fried


• team registration fees,

• concession sales,

• admission charge,

• parking charge,

• selling softball/baseball equipment,

• advertising, and

• other potential revenue sources.

The typical tournament registration fee per team is $350-$500 per team depending on the age group and sanction-ing body.

Coaches will be charged $500 a month for unlimited use during daytime hours (batting cages and tunnels- and five hours a week included for field usage). It is estimated each coach could work with 2-3 players a day and if they charged $40 a session they could possibly generate $500-$700 a week. There are 12 coaches who have expressed interest in signing on to this plan which should generate $6,000 a month. Since such practice could be undertaken year round this could produce $72,000 a year.

Each of the six fields can hold at least three league games a night for five days a week. With proper scheduling and die-hard players, there could be five games run from 6-11:30 p.m. with a five minute break between games. Using the three league games a night rate for each field, there could be 108 league games (18 league games multiplied by six fields) a week scheduled for the facility. While the industry standard is 384 games a week for six lit fields, Gil is not anticipating full demand the first year and there will probably be 40-50 games held over weekend tournaments. The field rental fee will be $30 per game, per team (not including the cost for the umpire, which works out to around $1.00 per player and is paid directly from the players to the umpire). This works out to $3,240 a week or $84,240 for a 26 week season and a total of 2,808 games. Teams are charged an upfront cost based on $30 per game for an eight game season ($240 per team registration fee). Each league normally consists of ten teams.

Concession revenue is estimated at $16,200 a week or $421,000 per year. This number is based on 15 people per team average multiplied by 108 league games (30 players combined per game) which totals 3,240 competitors a week for league players. The average per capita expenditure on concessions for each competitor is $5.00, usually including one beverage. The primary concession revenue is from beer which will represent 50% of total concession sales as no beer (or any other food) is allowed to be brought into the facility. Concession revenue for weekend tournaments is estimated to average $20,000 per tournament or $280,000 for 14 tournaments.

Hotels and Restaurants have entered into agreement with Gil where if he directs tournament participants to stay in their hotels, or patronize a restaurant, the establishments will give sponsorship revenue back to the facility. This revenue is estimated to raise $30,000 a year.

Field/facility rentals throughout the year are estimated to generate $30,000 the first year and raise ten percent a year for the next five years. Potential renters include church groups, high schools, civic groups, birthday parties, and possibly weddings. Other revenue sources that Gil has yet to calculate, based on unknown interest, include advertising, renting out parts of the facility to other businesses, summer camps, and after school programs.

The largest expense is expected to be personnel costs. The salary for the facility manager, Bob Jones is set at $65,000 a year. Gil also needs to hire a field technician to maintain the grass, spray chemicals, etc… Bob has found a field supervisor willing to work during the 26 week season for $30,000 a year.

Several part-time employees will be hired to work tournaments and leagues. These employees will work the con-cession stand, help with field set-up, assist with scheduling, and also clean the facility. These employees will be paid $8.00 an hour and that they will need 10,000 hours of such labor resulting in a cost of $80,000. Employee benefits are estimated to be $40,000 a year. Marketing costs include items such as brochures, billboards, a web site, and related costs.

The estimated first year profits are $104,076. However, it is estimated that one or two tournaments will have to be cancelled due to weather issues so the profit can quickly drop below $100,000 very quickly. Also, if not enough teams register for either leagues or tournaments, Gil’s revenue can quickly evaporate. One of the key concerns is the fact that



expenses would be incurred throughout the year, but revenue would be primarily generated over a couple months. Thus, there are a number of months with relatively stable fixed expenses, but almost no income. The ability to effectively cover expenses when revenue is flat is a major concern for Gil.

Gil developed a break-even analysis for a typical national tournament to determine how many teams he would need to sign to successfully market both a league and a tournament. He first identified the fixed costs attributed to both tourna-ments and leagues and then identified the variable costs for each. The analysis in Table 5 highlights the break-even point.

12 Fried


Mission and Goal

With construction in full swing, Gil decided to sit down and look at what he wanted from the facility. Since Gil is well known in the Keene community, everyone Gil talked with suggested calling it Gil’s. Thus, it was very easy to settle on a name. His next step was to develop a mission statement. With the help of some of his friends and family members he chose the following mission statement:

Gil’s Sportsplex is committed to providing wholesome family entertainment in a safe environment where individu-als can improve their skills and maintain their physical fitness.

With a mission statement, Gil needed to have several short term and long term goals. His short term goals were as follows:

• Generate significant publicity so the grand opening would attract at least 1,000 people.

• Sign three more leagues to contracts

• Land at least three major tournaments for the first year

Gil’s long term goal was to break even in three-five years. He toyed with the idea of franchising or opening another sportsplex in the future, but he did not want to get ahead of himself. He felt it was critical to spend the time and suc-cessfully launch Gil’s before looking too far down the road. This perspective was born from his discussion with other owners, especially those who failed by expanding too quickly and borrowing too much money.

Gil was not clear on all the objectives he would pursue, but one of the keys was having a concession stand that could generate significant cash flow from those who visited or played at the facility. There is no real food preparation area. All food is currently microwaved if it needs to be heated (frozen pizza, hot dogs, burritos, etc…). The concession area includes:

• several tables/chairs,

• cash register,

• condiments table,

• refrigerator,

• freezer,

• ice machine,

• two sinks,

• soda dispensing machine,

• several beer kegs,

• a soft serve ice cream machine, and

• two hot coffee makers that can make regular and high end coffee.

Based on conversations with other owners Gil estimated that around 60% of his concession revenue would come from beverages (water, sodas, beer, coffee, and tea). The price and gross profit percentage for items Gil would sell is as follows (see Table 6):

Gil explored deep frying items such as French fries but he felt preparing more complicated food would be a headache. He also was concerned with the health codes and potential lost inventory from food going bad. His research showed that beer sales were a major revenue generator. His heart was torn on the subject of selling alcohol since he had witnessed first-hand the carnage associated with drunk driving from his days as a police officer. However, he also realized that regardless of whether he sold the beer or not, the players would want to drink and if he could control how much people drank he could try to make drinking a more responsible component of a game at Gil’s. That is why every employee went through alcohol service training and Gil developed some comprehensive service regulations. Gil felt



that after several years he might explore expanding food options or possibly letting a caterer or restaurant open on part of the facility.

Gil was excited and ready for his first year. He was hoping for the best, but realistic about the hardship he could face.

Resources

http://www.ci.keene.nh.us/government/boards-commissions/zoning-board-adj

http://sportsplexoperators.com/

http://sportsplexatfairfield.com/

Sportsplex Operators and Developers Association (2011) SODA sportsfields planning guide. Volume III, Issue 1 Rochester, NY.

Acknowledgments

The author would like to thank Don Aeslin the Executive Director of the Sportsplex Operators and Developers Asso-ciation (SODA) and Don Westfall, General Manager of the CT Sportsplex for their help in finalizing the numbers and facts to be as accurate as possible.

Documents

Inception/Development - humankinetics.com case study examines the financial and strategic ... Gil used to play at the public Robin Hood Park and Forest, ... feasibility study,