FlyHigh of Myrtle Beach has 12 million visitors who will walk right by our proposed location every year, and when we get 271,000 of them to ride our attraction, we will make approximately $2.5 million annually.
The first step in this process/exposure should be to view some or all of these very short videos of operating “aerobars” around the world. This will give you not only an understanding of what the customer experiences, but also what induces them to want to purchase:
Here is the information on FlyHigh at Myrtle Beach:
We now have one junior partner, Legends in Concert (
www.LegendsInConcert.com). They have many theaters across the USA they own and/or operate, including the oldest-running show in Las Vegas and a theater in Myrtle Beach (across the street from where we will be) that has attracted 3 million visitors over the past three decades. Legends in Concert's main function with us is to provide the experience to attract the number of visitors to prove profitable and to keep us in line in that regard. Although I do not think this will be difficult (with 12,000,000 passers-by every year), lenders often do. Legends in Concert is presently expanding into Australia, otherwise, they would probably be our financial partners as well.
Please see "Visitors Expected" (below) to see how it is that we can be so sure of our visitor projections:
We have the construction company to build this. They will subcontract, all under our supervision, the structural engineering to structural engineers (already bid out), and the erection of the aerobar structure to an experienced company (also already bid out). We plan to start pouring the concrete pad as early as November, in time to be ready to receive the shipment of FlyHigh on January 1, 2025 from the French manufacturer, Aerophile, set it up and open operations by March 1, 2025. However, that might be delayed by a month or so. That means we will have to have our financing finalized, also site plans finalized by an architect, a landscape architect, and a civil engineer, and to have our plans approved by Burroughs and Chapin (landlord) and the city in time for November 1, 2024. It should be noted, however, that Burroughs and Chapin owns a GREAT deal of all the best commercial property in Myrtle Beach, that they have been known and trusted by the city for over 50 years, and that things move very smoothly when they are behind the development. They are liking FlyHigh at Broadway at the Beach, and with them behind it, it should be easier. Also, I have a friend whose best friend is the chief of staff to Lindsay Graham and his father is a huge landholder in Myrtle Beach. He has promised to help me if we need it.
An investor who invests the $3.54 million will receive 35% equity of FlyHigh of Myrtle Beach and would also receive the loaned money back at a negotiated interest rate and terms. This could also be the first FlyHigh of quite a few in the Southern USA … time will tell.
Let's look at a 35% owner. 35% of FlyHigh of Myrtle Beach should equate to approximately 35% of the projected (not guaranteed, but the reader may see that this is a conservative projection) $2,284,500 before tax profit in year 1. This would equate to $800,000 in year 1, and every year after that probably going up (pre-tax dollars coming directly to the owner from this LLC).
Costs are projected as noted here:
The following first chart shows construction pro forma, and the second shows operations budgets over the following year.
IF FLYHIGH OF MYRTLE BEACH ONLY GETS 271,600 RIDERS (OUT OF 12 MILLION WHO WILL WALK BY IT EVERY YEAR):
Construction Budget, if 10% cash is required on all funding (another conservative possibility):
First Year Operations Budget:
We have a 50-year lease with Burroughs and Chapin, the owners of Broadway at the Beach, fully negotiated, and ready to sign as soon as all partners are in place. That lease agreement is here:
You will note this lease amount is quite expensive. Except that it isn't: they bring 12 million visitors right by our door every year - visitors who are on vacation, spending money, and the majority of whom will want to ride our FlyHigh. That leaves us no expenses for generating business, and they leave us no worries. All we will have to do it to tweak it for more profitability (some other attractions at Broadway at the Beach charge $25 or $26, and they do not have the pizzaz of FlyHigh; our projections are based on $20 for an adult ride with drink).
Resumes of key personnel are attached for your interest:
Jim Burch, President
Mike Taylor, VP Operations:
Jeff Burch, VP Dvlpt:
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