Escape rooms have become a sensational phenomenon in the world of entertainment! This one recreation has seemingly united people of all ages and preferences. Brands like escape room Tempe are generating huge profits because of their experiences cross-age sex, race, and caste barriers. A broad customer base is the backbone of why escape businesses are so profitable. If you are also thinking of launching your escape room business this year, make sure to consider these eight essential factors before taking any further steps:
1. Experience the world of the escapades
Even before you start your business planning, you need to experience the immense variety of escape games yourself. Indulging in different kinds of escape game experiences will allow you to harness in-depth knowledge of the world of escapades.
Further, while you try out the different kinds of escape room games around you, observe every little detail of the design and structure of the escape rooms. The intricacy and delicacy with which the elements are produced in an escape room game are essential to enhance the players’ experience. So, while going out and experiencing the wide variety of escape games, pay attention to the details of each game room.
2. Talk to escape room owners.
Hosting meetings with your competitor’s escape room ventures can significantly benefit your purpose. It is generally found that the global escape room community is welcoming and supportive. Thus, by having such meetings, you can get some great insight into how you can kickstart your escape room business!
However, sadly enough, the increase in competition has slowly dispensed the seamless communication that earlier existed between escape room businesses. But, even then, you can still find a few old escape room ventures which would be more than glad to welcome and support you. You can talk to them, ask questions, and successfully gather sufficient practical knowledge on running an escape room business!
3. Learn from your competitors
You can learn much by studying and analyzing your competitors in the market. So, before launching your escape room venture, spend sufficient time drawing in-depth analyses of your competitors and studying them. Observe and note their business tactics, marketing strategies, and failed measures.
Based on the creative insights you draw from this study, you would be far better equipped to build up and launch your business! Not only can you implement the successful marketing strategies of your competitors, but you can also stray clear of their failed strategies.
4. Chalk out a plan for your escape room venture
Now comes the main part: the planning for your escape room business. Planning is a crucial part of setting up your escape room business. While drafting the business plan, make sure to consider the following factors:
- What are your approximate startup and ongoing prices?
- Define your target audience efficiently.
- How much are you ready to charge your customers for every escape room experience?
- Think of any engaging and suitable name for your business.
5. Decide how exactly you wish to develop your escape business
Now, you need to start thinking about how you want to build, grow and develop your escape room venture. You can either start by creating your escape room venture from scratch or might even consider outsourcing the entire escape room setup. Also, if you want, you may even buy a whole escape room from a well-known franchise, as per your choice.
When you build up your escape room business from scratch, you retain the power to control and regulate every little detail of the escape room games. You are free to choose which outsourcing resources you wish to rely on. However, when you build your escape room venture from scratch, keep in mind that you are alone in the process.
In contrast, when you buy an escape room game from a franchise, the franchisor(s) would themselves act as your guide in setting up the escape games. In this manner, there remains a far lesser chance of making any mistakes in the process. Furthermore, it also consequently lowers your startup cost!
6. Decide a suitable location for your escape room business.
Now, you need to start looking for a suitable location to set up your escape room business. For this, you need to consider your target audience; based on that, you need to look for a suitable location. Based on your target audience, you need to look for a site that remains easily commutable to them.
But, for escape room ventures looking for more walk-in players, it is best to set up an escape room near a shopping mall or an entertainment center.
While choosing a suitable location to set up your escape room venture, make sure to consider these factors:
- An escape room venue does not need to have windows.
- You might renovate the basements of an old building to give an authentic and realistic touch to your escape room themes!
- Look for easily commutable locations that can be either reached by public transport or on foot.
- Make sure there is sufficient parking space in the venue.
7. Think of your budget and modes of financing
Next, you must define the approximate budget for your escape room business. Many businesses are often shut down abruptly due to insufficient funds. Thus, considering your approximate budget is vital before setting up your business.
While drafting the budget for your escape room business, you also need to weigh the risks and uncertainties most likely to affect your business. In this way, you can stay prepared for the hurdles that you might face in the future.
Asking your friends or family members to get on board with you as investors can be a great way to kickstart your business with the perfect financial planning. Going to investors outside and approaching them to invest in your escape room venture can be a possible alternative.
8. Choose a suitable theme to deck your escape room(s)
And, of course, you need to look for interesting and exciting themes to build your escape room business. For this, you need to consider your target audience and thoroughly consider some of the themes they may be interested in. Whether you’re targeting young adults or kids, you can design different escape rooms with relevant elements!
Finally, after deciding on a suitable theme to set up your escape room business, you are now ready to kickstart your escape room venture! Ensure your escape room game matches the theme correctly and offers players a realistic experience they will love!
Building up and starting a business is always about working together with a solid and efficient team of employees. So, draft a proper business plan, hire skilled professionals and let your escape room business grow!
Guest Author Bio: Charlotte Lin
Charlotte Lin is a content creator at escaperoom.com. She’s a passionate young woman, mother to an amazing nine-year-old, and an avid reader. Over the years, writing has helped her explore and understand the world and herself. She loves travelling, meeting new people, and spending quality time with her daughter. You can find her on LinkedIn.