Indoor Skydive Australia on the up

Written by Proactive Investors. 

Indoor Skydive Australia Group (ASX:IDZ) is delivering in its quest to bring indoor skydiving facilities down under, with thrill-seekers snapping up $400,000 worth of advance sky diving time sold in 4 hours.

The total allotment of 500 hours vertical wind tunnel time at its Penrith Facility in New South Wales was sold out in 4 days.

ISA Group’s customer facing brand, iFLY Downunder, entered the market with an early bird offer to experienced skydivers and tunnel flyers.

Initially launched at the West Coast Sundowner, an international skydiving event in Perth, the offer was marketed to experienced flyers entitling them to purchase tunnel time following the opening of the Penrith facility in 2014.

Lessons learnt from this activity are being incorporated into final sales systems and processes.

The early bird offers provided an opportunity to test the market and processing systems, and the public demand was  strong, validating Indoor’s business plan.

Indoor recently completed a capital raising and placement for $10.4 million to fund expansion and strengthen its management team, with a focus to constructing additional vertical wind tunnels.

Construction of the Penrith facility is entering the final stages of equipment installation, fit-out, commissioning and obtaining applicable operating licences.

Since the last construction update the basement walls have been completed, waterproof membrane applied, structural steel beams for the first level installed and footings work for the ground floor slab are nearing completion.

Indoor currently expects practical completion of the works at the Penrith facility towards the later part of the 1st quarter 2014, allowing capitalisation on the Easter School holidays and the demand for “all weather entertainment” during the cooler months.

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