Have you thought about starting a family entertainment center business like a bowling alley, laser tag arena, children’s entertainment center, or another type of indoor party attraction?
The basic model for a family fun center has been proven to be an effective business model and a great way to start a business that can create happiness and memories for thousands of people every year, but of course your own unique take on a fun center, perhaps with a special theme, new attractions, or other improvements, could be the next best thing that kids and adults alike will come from all over to enjoy!
With that in mind, here are 3 questions to ask before you dive into this potential business venture.
Is This Right for You?
Think about why you want to start a family entertainment center business. If you want to challenge yourself by becoming an entrepreneur and developing your own flourishing business that can entertain families, friends, and coworkers, and allow them to make lasting memories, as well as create an ambitious job in a fun working environment for yourself, then this is definitely for you. If this all sounds like too much work, then perhaps you need to look at other opportunities.
What’s the Concept?
Make sure your concept is feasible. Obviously, any new business is going to need money to grow and thrive, but you don’t need to have all the financing figured out right at the beginning. If you’ve conceptualized your entertainment center alone, you may want to consider finding a business partner. Depending on your strengths, you can find someone who complements you; if you’re the creative type and have a vision but don’t want to deal with numbers, you could consider partnering with someone more business-minded, or vice versa.
Think about what kind of family entertainment center you want to open; who is your target audience, and what would they find appealing? Obviously, kids, teens, and adults all have different ideas of what’s fun, but there’s always a way to include everyone if that’s your goal. You can do research into different entertainment centers around the world to get inspiration, but visiting a few yourself is the best way to figure out what you think works and what doesn’t for your own family fun center.
How Much Will It Cost?
Once you’ve nailed the concept for your family entertainment center, a feasibility study of some kind will be useful in figuring out what kind of financing you will need to create your center, from design to construction to furnishing. Make sure you have a realistic budget in mind and work with reputable vendors to make your vision a reality.
Sure a family entertainment center sounds like fun to own and run, but before you jump into a trampoline park or bowling alley, make sure the responsibility and reality for this business is not clouded by your passion.
Then again, from passion comes great ideas.
Ready to get inspired? Check out these great centers designed by US Design Lab.