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Is This Fair On My Wife And Kid?

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Is This Fair On My Wife And Kid?

Postby Earwyn » Mon Jun 05, 2017 7:09 am

For about a year now I have been struggling from major debt. In 2009 I bought the family theme park ?Pleasure Island? after it went into receivership. I had to borrow the money for the park from borrowing against my mobile phone chain and house. I thought everything was going to be okay, but disaster struck. When it snowed the park was making a major loss as most of the rides weren?t functional. I also spent 60,000 on TV advertisement, which didn?t help my debt. From buying this park it has lost me my business, house, and my partner. I also made a terrible mistake by agreeing with Tesco to allow their customers to use club points for the entrance fee, as Tesco only pay me £6.50 per adult. I?m on contract until 2012 for this. The park is worth more if it was sold as land, as the rides are too unreliable for resale and cost too much to dispose of. I barely see my 4 year old child and just argue with my partner about finance. I?ve started laying off staff, which I hate doing. If I sold the park I won?t be able to repay the debt. The park is profiting now, but it hardly producing enough money to live off, let alone to pay debts. I worked out that it would take 356 years to pay off the debt from the profit off the park. I?m pretty much stuck with it. The popular ride ?Hydro Max? is coming to the end of its life, as the insurance its becoming to high. My question is if this is fair on my wife and kids, as my wife blame?s me for everything, as it was my idea to buy it.

Have a look at my website, where have I gone wrong. (I made that website myself in dream weaver)

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Joined: Sat Jan 11, 2014 5:09 am

Is This Fair On My Wife And Kid?

Postby fareed » Fri Jun 09, 2017 12:21 am

I would not use the word "blame" but this mess is your responsibility. You did buy the park. You also made some bad financial decisions when it comes to ticket prices. I am assuming you did this without the help of a financial advisor and a marketing person. If so that was a bad move. There is nothing you can do at this point but deal with the situation now. Try to push away the guilt and the anger and just focus on how to fix this. You are going through a lot right now and that is understandable. Just know that all is not lost.

First of all, hire someone to advise you on business decisions. Do some research on marketing. Also, try to find ways to make money other than ticket sales. Adding an extra attraction, special events, or promotion packages can be a great way to generate income. Try having a special package for birthdays, parties or large groups. Reach out to the surrounding community and try to get more people in the door. You also need to get more things IN the park that generate extra money.

People go to parks to have fun. Once they are in the door their money is yours. You just have to figure out how to get it OUT of their pockets. So do what other parks do...Charge them too much for food and drinks. Have cool vending machines and maybe even add some arcade style games. Have people selling toys, treats and whatever cheaply priced items. Have some special party package and include food, cake and whatever other things you can prophet from. Have live music or comedy shows using local talent. See if you can host some big community events like a flea market, a festival or a concert. These are all ways of generating extra sales.

With some creative ideas you can increase your sales dramatically. You may be in debt and the park may not be doing well now but that can change. With some creative ideas you can bring in extra money in ways you never thought possible. Even in a tough economy, people still want to have fun. The biggest question is not "How can I make money?" but "How can I help people have more fun so they spend more money?" and start there. Best of luck! I hope this helps!
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Joined: Wed Sep 25, 2013 7:14 am

Is This Fair On My Wife And Kid?

Postby Wit » Wed Jun 14, 2017 1:07 am

It's always hard to spend time with the wife and kids when you have so much going on.
Determining whether it's fair or not is not going to solve any problems right now.
Hopefully you will be able to sell the theme park, and just focus on the cell phone business. After all, it's not how much money you can make, it's what you do with the money that's made.
You should be able to get another mobile phone chain. That's all you need to be able to happily survive.
Talk to your wife and listen to her wants.
Follow her lead.
A happy wife makes for a happy life.
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Joined: Mon Jan 06, 2014 4:17 am

Is This Fair On My Wife And Kid?

Postby Rambert » Thu Jun 22, 2017 12:14 am

Your wife married you and therefore you are a team.
Have you considered filing for bankruptcy? It might be worth considering......Good luck.
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Joined: Tue Jan 07, 2014 8:02 pm

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