Embarking on the journey of opening your own axe throwing business is an exciting venture, but it requires meticulous planning and execution. In this comprehensive guide, we'll take you through the ten crucial steps to kickstart your axe throwing entertainment business successfully.
From feasibility assessments to financing, site planning, and leveraging advanced venue management software, we've got you covered. Additionally, we'll address frequently asked questions to provide you with a well-rounded understanding of what it takes to establish and manage a thriving axe throwing venue.
How to start an axe throwing business
Step 1: Conduct a feasibility study
- Assess market demand: Understand the local market's interest in axe throwing, considering demographics and existing entertainment options.
- Analyze competition: Identify existing axe throwing businesses and evaluate their strengths and weaknesses.
- Legal considerations: Research and comply with local regulations regarding safety, zoning, and licensing for axe throwing venues.
Step 2: Create a solid business plan
- Mission and vision: Clearly define the purpose and long-term goals of your axe throwing business.
- Target market: Identify and understand your target audience and tailor your offerings to meet their preferences.
- Revenue streams: Detail how your business will generate income, including memberships, events, and merchandise.
Step 3: Secure financing
- Detailed budget: Estimate costs for venue rental, insurance, equipment, marketing, and staff salaries.
- Financing options: Explore personal savings, loans, grants, or potential investors to secure the necessary funds.
- Financial projections: Develop realistic financial projections for the first few years of operation.
Step 4: Choose the right location
- Foot traffic and accessibility: Select a location with high foot traffic and easy accessibility for your target audience. Ensure the chosen location complies with local zoning regulations for recreational businesses.
- Space requirements: Calculate the necessary space based on the number of lanes and safety regulations.
Step 5: Design your axe throwing venue
- Layout planning: Work with a professional designer to create a layout that maximizes safety and customer experience.
- Themed decor: Consider incorporating a thematic design to enhance the overall ambiance and experience.
- Safety measures: Implement safety features such as safety barriers, signage, and first aid stations.
Step 6: Invest in quality equipment
- Regulation-sized targets: Acquire high-quality, regulation-sized targets for consistent and safe axe throwing.
- Axes and safety barriers: Invest in professional-grade axes and safety barriers to ensure a secure environment.
- Maintenance plan: Develop a regular maintenance plan for equipment to ensure safety and functionality.
Step 7: Implement venue management software
- Integrated ticketing: Utilize a venue management system with integrated ticketing for seamless customer transactions. To learn more about how ROLLER’s progressive checkout is designed to increase conversions and spend per head, check out our latest workshop.
- Point-of-Sale (POS) systems: Implement POS systems to streamline sales, track inventory, and manage transactions. It’s critical that your POS is integrated with your online ticketing system to keep lines flowing smoothly and to get a comprehensive understanding of your venue’s performance.
- Waivers: Attraction venues need to prioritize waivers to mitigate legal risks. Digital waivers that can be signed in advance and are integrated into the rest of the venue management system help improve operational efficiency and provide a superior guest experience without unnecessary wait times at check-in.
- Membership management: Incorporate features for membership sign-ups, renewals, and benefits tracking. Memberships are a key to attraction businesses to grow recurring revenue. But don’t take our word for it; see how Elevate generated $600K in membership revenue in just a few months.
- Group bookings: Enable easy group bookings and reservations for events, parties, and corporate gatherings.
- Integrated payments: Ensure secure and integrated payment processing for a smooth customer experience. After all, using the right payment processor can help reduce chargebacks by 92%.
Read this next: Visitor Management Systems: What Are They & How to Choose One
Step 8: Develop marketing strategies
- Online presence: Create a professional website and leverage social media platforms to promote your axe throwing business.
- Local partnerships: Establish partnerships with local businesses, bars, or event organizers to cross-promote.
- Opening promotions: Plan and execute opening promotions to generate buzz and attract initial customers.
Step 9: Ensure regulatory compliance
- Permits and licensing: Obtain all necessary permits and licenses for running an axe throwing venue.
- Insurance coverage: Secure comprehensive insurance coverage, including liability and property insurance.
- Safety standards: Adhere to safety standards set by local, state, and federal regulations for recreational activities.
Read this next: How to Manage Risk at Your Attractions Venue
Step 10: Train staff and launch
Staff training: Provide comprehensive training on safety protocols, customer service, and venue operations.
Grand opening plan: Plan and execute an event to introduce your axe throwing business to the community.
Read this next: Common Staffing Issues For Attractions (& How to Solve Them)
Frequently asked questions about axe throwing businesses
1. Is it hard to open an axe throwing business?
Opening an axe throwing business requires careful planning and adherence to safety regulations, but with a solid business plan, financing, and a commitment to safety, it is a manageable venture. By thoroughly understanding the market, securing financing, and implementing safety measures, you can navigate the challenges and create a successful business.
2. How much does it cost to open an axe throwing business?
The cost of opening an axe throwing business varies based on location, size, and equipment quality. A detailed budget can help you estimate costs and secure the necessary financing. Consider factors such as venue rental, equipment purchase, safety measures, marketing, and staff salaries to create a comprehensive financial plan.
3. What are the requirements for an axe throwing venue?
Requirements for an axe throwing venue include regulatory compliance, safety measures, and a well-designed space. Ensuring that your venue meets these criteria is essential for a successful and legally sound operation. Be prepared to obtain permits, adhere to safety standards, and create an environment that prioritizes customer safety while providing an enjoyable experience.
To learn more about how ROLLER can help set your axe throwing venue up for success, get in touch.