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docs: add research notes and scratch files

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Co-Authored-By: Claude Sonnet 4.6 <noreply@anthropic.com>
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# Padel Hall Economics — Construction Costs & Supplier Revenue
**Compiled: February 2026**
**Purpose:** Ground-truth numbers for pricing decisions, supplier value proposition, and lead marketplace calibration.
---
## 1. Court Construction Costs — Component Breakdown
Per double court (10m × 20m playing surface), supply + installation, outdoor:
| Component | Range (EUR) |
|---|---|
| Steel frame / structure | €8,000–€12,000 |
| Panoramic glass walls | €9,500–€16,000 |
| Artificial turf (200 sqm) | €4,500–€8,000 |
| LED sports lighting | €4,000–€7,000 |
| Foundation & site prep | €5,000–€10,000 |
| Fencing / mesh panels | €2,000–€4,000 |
| **Total outdoor double court** | **€33,000–€57,000** |
Sources: `market-research-padel-costs-2026.md` §12 (cross-checked against Fortune Padel, MejorSet, WePadel 2025, LTA construction guidance)
**Turnkey quotes from real operators:**
- padel-court.de (German broker): **€27,000–€32,000/court** indoor, **€28,000–€34,000/court** outdoor (supply + installation, ex-foundation)
- padelplatz-kosten.de calculator output: **€45,000–€110,000+** per court (includes all configurations from basic to full panoramic with roofing)
- padel-konzept.de / Padel Solution NL: **€44,000–€93,000** outdoor, **€53,000–€100,000** indoor (recycled range across all city pages — likely Padel Solution list prices)
- Reform Sports (Turkey): **$39,800–$45,300** per court (≈ €37,800–€43,000) — supply only, no installation
**Supply-only ex-works (China):** ~€4,000 structure per court. European-assembled supply-only: ~€10,000.
---
## 2. Total Facility CAPEX by Project Type
| Facility type | Courts | EUR range | Notes |
|---|---|---|---|
| Single outdoor court | 1 | €33,000–€80,000 | Lower = no foundation; upper = full site prep + lighting |
| Small outdoor club | 2–3 | €80,000–€180,000 | Minimum viable commercial project |
| Mid outdoor club | 4 | €200,000–€350,000 | Typical sports club / commercial entry |
| Small indoor hall | 4 | €700,000–€1,200,000 | Courts + steel hall + HVAC + fit-out |
| Mid indoor hall | 6 | €1,000,000–€1,700,000 | Realistic midpoint ~€1.2–1.5M |
| Large indoor center | 8–12 | €1,500,000–€3,000,000+ | Premium brands (Padel Haus, Epic Padel) |
**6-court indoor benchmark** (from `scratch/padel-hall-guide.md`):
- Building shell: €400,000–€800,000
- Courts (6 × ~€30,000): €180,000–€300,000
- HVAC: €50,000–€120,000
- Lighting: €30,000–€60,000
- Fit-out (reception, bar, WC): €80,000–€150,000
- Permits / legal / architect: €40,000–€80,000
- **Total: €780,000–€1,510,000** (realistic: €1.0–1.4M)
**padel-court.de real-world 4-court scenarios (2021, still widely cited):**
- Sports club (Verein), 4 outdoor courts: €258,000 gross → **€167,700 net** after 35% federation grant
- Commercial operator, 4 outdoor courts: **€258,000 total** (no grant)
Source: https://padel-court.de/wie-viel-kann-man-mit-einem-padelcourt-verdienen/
---
## 3. Buyer Segmentation
**Primary buyer types** (from padel-court.de FAQ, Padelcreations buyer personas, Playtomic 2025):
| Buyer type | Typical project | CapEx range | Grant eligibility |
|---|---|---|---|
| Existing tennis / sports club | 2–4 courts outdoor | €80,000–€260,000 | Yes (Landessportbund, KfW 150) |
| Commercial entrepreneur / investor | 4–6 courts | €200,000–€700,000 | Limited |
| Hotel / resort / hospitality | 2–4 courts | €100,000–€400,000 | No |
| Corporate (team-building venue) | 1–2 courts | €50,000–€150,000 | No |
| Franchise / chain operator | 6–16 courts indoor | €1M–€5M+ | No |
| Municipality / public facility | 2–4 courts | €100,000–€350,000 | Yes (various public sports funds) |
**Confirmed real projects (Germany, from padel-court.de European stats 2025):**
- Hanse Padel Hamburg: 16 courts
- Padel FC Berlin: 9 courts
- Most new German projects: 4–8 courts
**Smallest viable project:** 2 courts (padel-court.de explicitly says "at least two courts is economically more sensible than one")
**Single-court buyers** do exist (corporate installs, hotel add-ons, indoor sports hall add-ons) but are not the primary addressable market for a B2B lead marketplace targeting full-service suppliers.
### Answer to the €200K+ question
**Not universal, but accurate for the core addressable market:**
- Single court (1 court, basic outdoor): €33,000–€80,000 → **below €100K threshold**
- 2-court outdoor club: €80,000–€180,000 → **€100K–€200K range**
- 4-court outdoor commercial: **€200,000–€350,000** ✓ over €200K
- Any indoor project: **€700,000–€3,000,000+** ✓ well over €200K
The majority of projects that full-service court manufacturers and turnkey builders target are 4+ court installations — placing them firmly in the €200K–€1M+ range. However, a meaningful segment (sports clubs with grants, single-court hospitality adds) operates in the €50K–€200K range.
**Better framing:** "Most construction projects in our lead feed represent €200K–€2M+ investments." Single-court buyers exist but are low-value for suppliers and can be excluded with a "minimum project size" filter.
---
## 4. Operator Revenue & Profitability
**padel-court.de baseline model (4 outdoor courts, commercial, Germany 2021):**
- Rate: €29/hr/court
- Hours: 09:00–22:00 (13 hrs/day), 9 months/year (outdoor)
- Occupancy: 55%
- **Gross revenue per court/year: ~€56,000**
- **4-court annual gross: ~€224,000**
- 4-court indoor (12 months): **~€303,000/year gross**
Source: https://padel-court.de/wie-viel-kann-man-mit-einem-padelcourt-verdienen/
**Playtomic real-world GMV per court per month (2025):**
| Country | GMV/court/month | YoY growth |
|---|---|---|
| UK | €9,700 | +74% |
| Germany | €4,000 | +48% |
| Spain | ~€3,500 | +16% |
| Italy | ~€3,200 | +11% |
| Benelux | ~€3,100 | +12% |
UK at €9,700/court/month = **€116,400/court/year** gross. Germany at €4,000/month = **€48,000/court/year** gross. This aligns with the padel-court.de model.
**6-court indoor facility P&L model** (from `scratch/padel-hall-guide.md`):
| Metric | Year 1 (45% util.) | Year 2 (60%) | Year 3 (70%) |
|---|---|---|---|
| Total revenue | €800,000 | €1,107,000 | €1,325,000 |
| Total OPEX | €490,000 | €530,000 | €566,000 |
| **EBITDA** | **€310,000** | **€577,000** | **€759,000** |
| EBITDA margin | 39% | 52% | 57% |
| Debt service (€800K loan, 5%, 10yr) | ~€102,000 | ~€102,000 | ~€102,000 |
| Free cash flow after debt | ~€208,000 | ~€475,000 | ~€657,000 |
**Key benchmarks:**
- Breakeven utilisation: 35–40%
- Payback period: 3–5 years (typical for well-run clubs)
- Revenue per court at maturity: €150,000+/year
- Playtomic reports first-year occupancy claims: "40–45%, break-even <24 months for 4-court club" (from Padelcreations)
- Player return rate after first session: 92% (Playtomic 2025)
---
## 5. Supplier / Manufacturer Economics
**No public financials exist** for padel court manufacturers (Artec, Mundo Padel, Global Padel, WePadel, Reform Sports, Padel Solution NL). All are private companies.
**What can be inferred:**
| Cost level | EUR/court | Notes |
|---|---|---|
| Ex-works China (structure only) | ~€4,000 | Steel frame + glass, no installation |
| European supply-only | ~€10,000–€14,000 | Assembled in Europe, delivered ex-works |
| European turnkey (supply + install) | €27,000–€45,000 | Padel-court.de, WePadel ranges |
| Full project mgmt / consulting | €45,000–€100,000 | Padel Solution NL, padel-konzept.de |
**Implied gross margin (rough):**
- European manufacturer at €14,000 supply cost, selling for €30,000 installed: ~53% gross margin on product
- Construction services margin: typically 15–30% in EU construction industry
- Blended turnkey margin: likely 35–50% on full project revenue (no direct data found)
**Typical contract values for lead marketplace suppliers:**
| Supplier type | Typical contract | Deal frequency |
|---|---|---|
| Court manufacturer (supply only) | €40,000–€200,000 (2–8 courts) | Multiple/year |
| Turnkey contractor (courts + foundation) | €100,000–€500,000 (4–8 courts) | 5–15/year |
| Indoor hall builder (turnkey) | €500,000–€2,000,000 | 2–8/year |
| Turf / lighting specialist | €10,000–€80,000 | 10–30/year |
| Construction consultant | €15,000–€50,000 consulting fee | Multiple/year |
A single closed deal for a turnkey contractor doing 4 outdoor courts = €200,000–€350,000 contract value. At 15% net margin = **€30,000–€52,000 profit per project**.
---
## 6. Market Growth (Construction Volume)
**FIP / Playtomic 2025:**
- Global courts end-2024: **50,017**
- New courts built in 2024: **7,187**
- Forecast end-2025: **59,524** (implies ~9,500 new courts in 2025)
- Forecast end-2026: **70,274**
- New clubs opened in 2024: **3,282** (+26% YoY)
**Germany specifically (padel-court.de European stats, July 2025):**
- Courts 2024: 507 → 2025: 827 (+63% growth)
- DACH total new courts 2024: ~365
**Implied European construction market size (rough):**
- 7,187 new courts × Europe share (~60%) × €45,000/court average = **~€194M European court construction revenue in 2024**
- Growing at ~20%/year → **~€233M in 2025**
---
## 7. Operating Cost Benchmarks (Germany, 6-court facility)
| Cost item | Monthly | Annual |
|---|---|---|
| Electricity (lighting + HVAC) | €2,500–€4,500 | €30,000–€54,000 |
| Staff (2–3 FTE + manager) | €9,900–€14,200 | €119,000–€170,000 |
| Rent (varies by city) | €8,000–€15,000 | €96,000–€180,000 |
| Insurance | €1,000–€2,000 | €12,000–€24,000 |
| Maintenance | €1,500–€2,500 | €18,000–€30,000 |
| Booking system / IT | €700–€1,000 | €8,400–€12,000 |
| Marketing | €2,000–€4,000 | €24,000–€48,000 |
Source: `market-research-padel-costs-2026.md` §6
**One-time permits & compliance (Germany):** €15,000–€37,500 (typically 0.5–1% of construction value)
---
## 8. Sources
| # | Source | Type | Confidence |
|---|---|---|---|
| [1] | padel-court.de/wie-viel-kann-man-mit-einem-padelcourt-verdienen/ | Operator blog, real project data | High |
| [2] | padel-court.de/padel-courts-in-europa-2025-dynamik-dichte-differenzierung/ | Market stats, July 2025 | High |
| [3] | Playtomic Global Padel Report 2025 (joint with PwC/Strategy&) | Institutional report | High |
| [4] | FIP World Padel Report 2024 & 2025 | Federation data | High |
| [5] | `research/market-research-padel-costs-2026.md` | Internal synthesis, multi-source | High |
| [6] | `scratch/padel-hall-guide.md` | Internal financial model | Medium |
| [7] | padelplatz-kosten.de calculator (Padel Solution / Ramon Tissler) | Manufacturer pricing tool | Medium |
| [8] | padel-konzept.de city pages | Padel Solution NL list prices | Medium (single-supplier bias) |
| [9] | WePadel.com blog 2025 | Turkish manufacturer, EN | Medium |
| [10] | Reform Sports blog 2025 | Turkish manufacturer, EN | Medium |
| [11] | `research/competitor_pricing.md` | Internal competitive analysis | High |
| [12] | Padelcreations.com buyer personas + profit calculator | Spanish manufacturer marketing | Medium (optimistic bias) |
| [13] | `research/sportstaettenrechner_quotes_2022.md` | Real lead volume data | High |
| [14] | LTA UK padel construction guidance | Federation, UK-specific | High |
**Not found / paywalled:**
- Individual manufacturer financials (all private companies)
- Padel Solution NL financials
- Published gross margin data for court manufacturers
- Mordor Intelligence / Grand View / Technavio market reports (all paywalled)
- Companies House / KvK filings (would need company registration numbers)