The Market

There are over 350,000 residents living in the Tri-Cities/Columbia Basin region. Bahama Bay will be very family focused and friendly as the Tri-Cities are a very family oriented community. The important point that will help this project become successful is fact that there has never been anything like it in the area before now. The general public is craving such a facility, not only as a place to cool off on hot summer days, but also as a way to identify the Tri-Cities as more of a regional destination. Therefore, the target market for Bahama Bay will be families as well as all people 15 to 45 years old. There will also be a very fun and interactive children's splash park as well.

Competition

While the success of water parks as a business model in the United States has proven to be successful nearly everywhere, there are virtually no competitors to Bahama Bay within a two to three hour drive. The municipalities of the Tri-Cities each have public swimming pools, but to find the closest professional water park you would have to go to Spokane Valley near the Idaho border to a park called Splashdown Waterpark. Another amusement park/water park is Silverwood, located in the Idaho panhandle. There is also a municipal pool with a water slide located in Moses Lake, a two hour drive from the Tri-Cities. This makes little to no similar competition for Bahama Bay in the entire region.

Other entertainment options in the area include movie theaters, golf courses, and a minor league baseball team. In reality, these are complimentary to Bahama Bay rather than direct competition. There are no go-kart tracks, miniature golf courses, or family entertainment options throughout the Tri-Cities, like those that will be at Bahama Bay. The Columbia River provides much of the Tri-Cities' recreational opportunities as do the Snake and Yakima rivers. All three cities offer a number of free boat launch sites, and the size of the river itself creates ample space for fishing, surface water sports, and sailing. Wineries, golf, and area parks also provide much of the recreation options for the Tri-Cities area.

Marketing Strategy

Bahama Bay will open relatively small (8 to 11 acres) and add slides and attractions every year thus creating a phased project. These new features would be budgeted into the next year so as to not incur more debt or take on more investors. The opening attractions will include at least two slide towers, a central lagoon with a large Aquaplay interactive structure featuring a 1,000 gallon tipping bucket, a lazy river, and a kid's interactive water playground. Each year we will add another piece to the park; new slides, wave pool, new rapids river, go-kart tracks, laser tag, etc. This will accomplish two major purposes:

1. Allows us to stay within budgeting means and grow at a reasonable pace as budgets allow, and,
2. It will give us a marketing tool that allows us to sell something new to bring consumers back every year. This will insure that our park and our marketing is always fresh and exciting and will make people want to come and see and experience what is new.

• Even though we will start out moderately priced, we will offer specials that are focused on specific groups as well as season passes. Admission prices will include "All-Day Admission" (10:00 am to close), "Twilight Admission" (4:00 pm to close), and special openings for two hours after the park closes for private parties. These private parties could range from anything from business parties to church groups and family reunions. Hours of park operation will vary with the length of the days. During the summer months, the sun goes down very late in Washington.
• Target marketing with group pricing will be used to attract church groups, family reunions, business incentives, and package deals with hotels in the area.

Feasibility Study and Permits

Dynamic Waters has secured two very vital elements that prove the worth and viability of developing Bahama Bay in the form of a full feasibility study and legal permits required for development:

• A complete analysis of the feasibility of Bahama Bay Waterpark in Pasco, WA was prepared by James Bednar, Managing Director of Land + Leisure, LLC. His 128 page analysis shows a very strong conclusion “that the data contained in the report provides clear-cut and convincing evidence that the proposed Bahama Bay Waterpark project has strong potential for success.” The full Executive Summary from that study can be found at the end of this document, and the full study can be made available upon request
• The State Environmental Protection Act (SEPA) is a State of Washington policy that requires state and local agencies to consider the likely environmental consequences of a proposal before approving or denying the proposal. Bahama Bay received a Declaration of Non Significance from the study done on the property. In other words, there will be no detrimental environmental impact from the developed water park
• The City of Pasco requires a Special Use Permit for projects that would be considered out of the ordinary, which was determined that Bahama Bay would be. After submitting application, presenting the project before the City Planning Commission in a public hearing, and receiving input from planning commissioners as well as local citizens, Bahama Bay was given an enthusiastic and whole-hearted unanimous positive vote of approval by the Commission on Feb. 18, 2010. They passed the recommendation on to the City Council for their vote
• On March 1, 2010 the City Council for the City of Pasco also voted unanimously in favor of the development of Bahama Bay Waterpark Complex with an accompanying hotel/indoor waterpark and indoor family entertainment center facility. This legally paved the way for full development of the complex

Marketing Strategy

Marketing for Bahama Bay will be focused on the Tri-Cities/Columbia Basin region and will include:

• Radio ads
• TV ads
• Internet ads
• Discounts for printing tickets online
• Social networking such as Twitter and Facebook
• Newspaper print media
• Billboards