BigDinFL said:
Don't forget to include security costs, clean-up costs, depending on your county, there could be extra planning costs if you add a driveway or parking lot not currently there - new land don't forget to subtract for the DRA - that could mean 20% of the property; trash disposal/removal; recycling, repair costs for equipment damaged
If you are going to have classes, you should have a classroom
Security Costs: Range Officers and Manager on Duty will be openly carrying.
Clean-up Costs: I listed this as monthly maintenance. I'm sure I will need to hire a cleaning company for regular cleaning including the bathrooms, floors, etc.
Planning: This remains one of our biggest concerns. My partner has had preliminary discussions with the city, but the review process takes a lot of time. I spoke with the owner of the building and he understands. We are working out a timeline where the initial rents are lower and then ramp up once the range opens. If for some reason or other things do not get approved, all rent paid to that poin is forfeited but we are able to walk from the lease. Coincidentally, the building owner is a shooter and he is very good friends with my real estate agen friend. We also plan on approaching local police departments to offer use of the range since the three departments surrounding the property do not have their own range. That will probably help immensely.
Parking is a bit of a concern as the site we are looking at has limited parking. There are a lot of properties nearby that we could make arrangements with since they only operate during the day.
I'm not sure what DRA is but I'm going to guess it is some sort of impact fee. I'm not sure what kind of fee the city can tack on since we do not need to bring in any new utilities or infrastructure changes. Besides, the space was leased out to 2 gyms before that.
Trash removal is no big deal as we own commercial real estate and already deal with that.
Maintenance and repairs to equipment is also a pretty common thing. We plan on using a rail type target carrier system so it is much more durable.
Thanks for the feedback and ideas everyone! We are going to be visiting a couple of ranges this weekend to get some more ideas. I'll keep you guys posted!