Taking into account the numerous long-term benefits and short term impacts, Commercial Playground equipment offers a very high return on investment (ROI). These include costs, use rates or how often events are scheduled at the facility, community benefits such as those summarised above and economic impact.
Commercial playground equipment has a very wide gap of initial costs. Playgrounds are typically going to be $50,000-$150,000 at least for anything decent that isn't just your run of the mill plastic slides. On the other hand, while this quality of equipment can be expensive to get started with, it is essentially maintenance free and extremely durable in the long run. Eg: A well maintained playground may have a typical useful life of 15 to 20 years so while there is heavy use over that time, its not within a single year.
Playgrounds are used and therefore of value. There are an average of 3,000 to 5,000 monthly visits at urban playgrounds - figures from a National Recreation and Park Association study. This high engagement rate demonstrates the crucial role playgrounds play as community gathering places and catalysts for children to be active and connect with their peers.
Playgrounds have community benefits beyond direct use. Playgrounds also contribute to the physical and mental well being of children, encouraging exercise, creativity and social interaction. They also act as community hubs, bringing families together regularly. According to the Centers for Disease Control and Prevention (CDC), children require 60 minutes of physical activity daily, with playgrounds serving as an easily-accessible setting in which that requirement can be achieved.
Playgrounds have huge economic impacts; The Trust for Public Land has also reported that property values located within a block of well-maintained playgrounds can increase by as much as 20%. Rising property values bring rising tax revenues to local governments that can be used to invest in community services.
Urban planner Rick Matto said it best: "A young child does not have to be a very high-level athlete or player... if you are good, playgrounds are so important for raising healthy and happy children in the future." This is in addition to larger social and economic benefits, placing a bigger emphasis on the broader community value of playgrounds.
Playgrounds are cost-effective in that they draw families and visitors who may be more likely to spend money locally. Popular playgrounds help restaurants, cafes and shops nearby as they see footfall surge - many of these businesses record their highest sales in a day on weekends A successfully implemented playground can also serve as a local tourist attraction drawing visitors from surrounding communities, and the positive ripple effect grows.
Playgrounds have a high ROI, backed up by lots of data most quantifiable as it is built. A report by the National Association of Realtors showed that half (50%) house hunters would pay more for houses close to parks and playgrounds proves how valuable these are.
Although maintenance costs relatively moderate for playgrounds compared to other public infrastructure. Annual maintenance budgets usually fall between $1,000 and $5,000 depending on the size of your playground and how often it is used. Costs for this work, which include inspections and maintenance as well as cleanup to keep the playground safe and accessible to users, continue - even in a pandemic.
To read the ROI analysis on playgrounds check into Commercial Playground Equipment. The return in public health, asset value and local economy is well worth the expense of commercial playground equipment. Playgrounds enhance the quality of life for residents by encouraging physical activity, social interaction and community cohesion.