I am considering developing 100 acres that I own into a motor recreational facility. The land is adjacent to an existing racetrack. It is very close to a formula 1 track, and I think I could do well if I develop and advertise correctly. What should my first steps be?
First of all you need to understand the demographics of the area. I assume if F1 track is nearby so the demographics would be favourable. Still find out exactly about the age groups, gender ratio in that area and adjoiing area.
Also then try to freeze in on the services to be offered in your facility and the pricing. Try to freeze the scope.
I think these 2-3 steps should be started first up.