02 Apr Indoor Playground Opportunities and Trends to Maximize Your Profit
The indoor playground market is rapidly growing, which is a tremendous business opportunity that can be capitalized. However, it is a little tricky to establish and run, because the initial investment is high, and you need to be smart with your money.
Indoor playgrounds are not cheap on the pocket. The equipment alone costs thousands of dollars. Consequently, as an investor, you always have a rational fear of losing your money. The first and foremost question is whether indoor playgrounds are a lucrative financial opportunity, and do they really make money?
Targeting Your Customer Base
Indoor games are usually for kids ages 4-18 years; however, some games can be played by everyone. For a new indoor playground business to function, you must know what customer base you are targeting.
Giving A Real-Life Experience
Taking the example of GoKidz, where they have created a life-like experience for kids of turning into superheroes and fighting evil. Businesses creating a similar environment with installing games and creating a close to fiction interior will attract kids to revisit your playground, leading to more revenues.
Availing Festivals and Holidays Opportunities
Summer holidays and other festivities are a great chance where promotional schemes and discounts on services can attract parents to take their children out for some entertainment. You can also provide some space to organize birthdays, celebrations, and other theme parties where people can enjoy and have fun. It will generate more revenue for your indoor playground.
Trained staff can be the biggest strength of your indoor playground’s success. You must understand that you are in a service industry where the staff is an asset. Friendly and helpful playground staff will give a sense of security to the parents.
You have to provide a safe and secure environment, ensuring sterilization, and guarantee the well-being of kids.
The income and profitability of an indoor playground can be fluctuating. What your playground is making in a year depends on several factors, such as:
- The audience you are targeting
- The kind of entertainment your indoor playground is providing
- location of your playground park
- Facilities at your playground
- The ticket price and hourly rate
Indoor playgrounds are a highly profitable business; however, they incur huge running costs and fixed overheads.
How to Make More Money?
Some part of the income is generated through ticket sales. However, they are not usually sufficient and adequate to make profits. The add-ons, which are also known as souvenirs, such as t-shirts, mugs, and collectible items, tend to bring in higher benefits for indoor playground.
Food Courtyard and Profit
In addition to it, the food courtyards and eateries in the courtyard help generate higher profits for indoor playgrounds. In fact, they are known to be financially profitable since the food area is built just once, and is rented to established eateries. The eateries are supposed to give you monthly rent. Therefore, the income generated through the food courtyard is the highest and most profitable.
A safe and friendly environment always brings back a customer. In the world of cut-throat competition where new businesses are emerging daily, maintaining customers is tough. To hold on the market is all about innovation, which includes introducing new games and services.
Promotional schemes and attractive events organized at your indoor playground will attract kids more often.