Types Of Households Ladera Ranch - 1720 Words

Types of Households in Ladera Ranch The total number of households in Ladera Ranch is 7,161 at the time of this report. Out of these households, 71.9% are occupied by homeowners. There are 5,890 families in Ladera Ranch. These families comprise of 4,996 two-parent homes and 894 single-parent homes. The average number of people in one home is 3.15 (â€Å"Current,† 2014). The median home value is $624,300 (United States, 2012). With this high rate of home ownership and family occupation in Ladera Ranch, residents are more inclined to invest their time and money into their community. These homeowners are interested in investments which increase their quality of life and the value of their properties. Exhibit D, above, is an extract from†¦show more content†¦Family Entertainment Center According to the White Hutchinson, a Family Entertainment Center (FEC) is a community-based facility. FECs are usually located near residential areas. A successful FEC needs to have an average annual frequency of visits of more than 6 times. The average length of a visit ranges from 2 to 2.5 hours and the average spending per visit ranges from $8 to $14. An FEC needs to include multiple anchor attractions in various categories to attract and retain visitors. Examples of these attractions are bowling lanes, skating rinks, laser tag facilities, miniature golf courses, climbing walls, children’s edutainment experiences, video arcades, simulator / motion theater attractions, etc. In addition, birthday party and food and beverage facilities are also major parts of an FEC due to the large percentage of income they generate (White Hutchinson). According to Bederka (2014), there has been a decrease in participation rate and average spending in FECs since 2003. However, there is â€Å"no (spending) change in the top 20 percent of income households† on FEC facilities. This signals a potential market for an FEC in the Ladera Ranch community as the average income of this town is nearly double the average income of the state of California. The market profitability for this business also proves to be stable during economic and technological changes. Moreover, Bederka (2014) also highlights that the FEC market is â€Å"shifting to both