How to Write a Family Fun Center Business Plan
Family fun centers have been popping up across the US at an increasing pace over the last several years, which has resulted in a continually growing demand for family fun center business plans, family fun center business plan templates, and family fun center pro forma financial projections.
Recently, in Orlando, Florida, a family fun center called Adventure Haven closed in 2023 due to declining customer visits and rising operational costs. Despite offering attractions like arcade games, mini-golf, and laser tag, the business struggled with poor marketing, limited community engagement, and an unclear pricing strategy. Without a solid plan to address these challenges, Adventure Haven was unable to compete in the $55 billion family entertainment center (FEC) industry, which is expected to grow at a compound annual growth rate (CAGR) of 10.2% through 2030 (Grand View Research, 2023).
A detailed family fun center business plan could have significantly improved the company’s prospects. The plan would have included strategies for marketing to local families and schools, financial projections to optimize pricing and manage costs, and initiatives to increase community engagement through events and promotions. Additionally, understanding that over 60% of FEC revenue comes from repeat customers, the plan could have emphasized customer loyalty programs to enhance retention.
With this said, here are some tips and tricks by Dr. Paul Borosky, MBA, for writing an effective family fun center business plan…
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Executive Summary for a Family Fun Center Business Plan or Template.
The executive summary portion of the family fun center business plan should encompass all typical information provided in any executive summary. This includes the business's name, location, and legal structure, whether it is a sole proprietorship, limited liability corporation, or corporation. Additionally, our family fun center business plan writer suggests that for this specific industry, incorporating a concise description of the activities offered at the family fun center is crucial to include in this section. For example, if the organization plans to feature batting cages, arcades, and a snack shop, list these elements clearly in the executive summary.
Company Information and Location for a Family Fun Center Business Plan.
In the business plan, particularly the company information section, detailing the location is essential, warranting moderate to extensive emphasis. This significance stems from the expectation that the location of the family fun center is often on a high-traffic road with considerable visibility from the roadway. Owing to this anticipation, if business owners choose such a location, it must be distinctly identified and thoroughly discussed in this section. On the other hand, if a family fun center business is not situated on a major road, this is also acceptable. Nonetheless, business owners should discuss why the chosen location holds an advantage over a location on a high-traffic highway.
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Popular Services offered by Family Fun Center Providers
Family fun centers generally offer an extensive range of activities all in one place. Activities might include limited dining options, arcades, virtual reality games, mini-golf, go-carts, and batting cages. Moreover, some family fun centers aim to set themselves apart by offering additional services like birthday party activities and, in some instances, VIP club memberships. When penning the services section of the business plan, enumerate the services provided and briefly delve into details about the significant amenities offered. For instance, if the family fun center plans to offer batting cages, specify the number, the types of batting machines, such as baseball or softball, and the pitching speed. Including these particulars in your family fun center business plan will assist readers in picturing how your center will appear and feel to potential customers.
Pro Forma Financial Projections for a Family Fun Center Company.
Crafting pro forma financial projections for family fun centers often demands creativity. For example, the startup costs for a family fun center can be substantial. This high cost is because the establishment creates multiple segments in one location, often necessitating diverse contractors and architectural designs. Consequently, when our Family Fun Center business plan writer organizes the startup cost section of the business plan, we typically divide buildout costs into distinct sections of the Family Fun Center. To explain, we might allocate buildout costs for miniature golf separately from the batting cages, which would be distinct from the buildout for the interior of the building. By furnishing more detail on the startup cost, the family fun center business owner can demonstrate the cost of each business segment.
We trust these insightful tips and tricks for drafting a business plan will prove beneficial. As always, should you require assistance with a business plan or financial projections, feel free to email or call us.
Author: Dr. Paul Borosky, MBA., Author
Owner of: Quality Business Plan and Quality Business Consultant
Date: 1/19/25