By now, everyone is aware of the fact that PLAYTIME play areas can boost traffic and sales. But retail developers and owners often face two hurdles when seeking to install a play area: space and funding. If that’s your concern, why not recruit sponsors?
Finding a Sponsor
All businesses’ first preference is to have someone else pay for their play area. AKA “Sponsorships.” Sponsorships are amazing win/win partnership opportunities for many retailers and for the sponsors, but it can be tricky to secure them. Of the 650 PLAYTIME play areas in the United States, approximately 30% are sponsored.
PLAYTIME has helped many shopping centers to make their case with sponsors. Yes, savvy sponsors do understand that they will see a return on investment when they see the following statistic:
• The demographic of play area patrons is 24 to 44 years old and 80% female. In other words, “moms with buying power.” Many, many companies today are seeking to reach this audience, from retailers to healthcare companies to financial institutions.
Next, you can use your annual mall traffic count to your advantage and compare sponsorship to the cost of local advertising. For example:
• “For the cost of two billboards a month, you can reach 12 million shoppers by sponsoring the play area.”
• “For the cost of one full-page color ad a month, your signage will be prominent in the mall 365 days a year.”
PLAYTIME has made presentations to clients about how to secure sponsorships and we have been successful. Contact us if you’re interested in learning more.
The next-best option to funding your PLAYTIME play area is to seek financing and we’ve made that easy, as well. Through a partnership with Madison Capital, many PLAYTIME customers decide to use a lease financing option for their play area.
Why use lease financing with Madison Capital?
• Lower Initial Cash Investment Required: Usually only a 10% deposit is needed and monthly payments are structured over the lease term (24-60 months)
• Tax Benefits: Depending on your specific situation, monthly payments for the soft play equipment may be expensed rather than capitalized and depreciated
• Fast Turnaround Time: Allows for quick approval and placement of your order
• Conserve Your Capital: For alternative uses including investments, improvements and preservation of bank line of credit
• Fixed-Rate Financing: No need to worry about rising interest rates. Level payments assist in budgeting
Bottom line: PLAYTIME play areas can boost traffic and sales and there are many ways to fund them. If you’re at all curious, contact us and we will help you Make Time for Play!