Business Idea.....need input!!!!

[hinodis]

Don't forget about the cost of insurance. Your going to need a lot of insurance!!

 

[WheelCEO]

Make sure you do a thorough potential profit/loss statement, have a solid business plan, and do an in-depth report on the demographics. There are low profit margins and the fad usually dies fast so be prepared for slow times.

Look into daycares in your area as well as schools, try to get camps to go there and so forth..

 

[Colleen27]

We actually talked about a similar idea, because we live in a small town with no real venues for family entertainment at all, but the logistics are really overwhelming (and I'm saying that as someone familiar with owning a business - DH started a small home improvement company in 2006). If the right property comes available we may still give it a shot, but for now the idea is back-burnered indefinitely.

Something you need to think about is location. We looked at some inexpensive locations but they weren't in good places for a foot-traffic business. Ultimately we decided to revisit the idea if/when a suitable storefront comes available in our town's downtown area. That way it would be more attractive to families and very noticable as an addition to a thriving business district, there would be places to eat on the same block (because we have no intention of dealing with all that is involved in preparing food ourselves), we could talk to nearby restaurant owners about some cross-advertising and potential discount/coupons, and it would be in a place where teens gather to socialize without needing someone to drive them.

Our plan wasn't to operate as an all-day, every-day business either. From talking to the owner of the bowling alley & mini-golf course in the next town, as well as the owner of the local movie theatre and a few other recreation-oriented businesses, the demand just isn't there to justify being open all day on school days. We were thinking one or two mornings a week with a "preschool" theme/promotion, plus afternoons and weekends.

My best advice is to talk to other people who run similar businesses in your area (not necessarily the same, but catering to the same general demographic). Maybe it is because we're from a small town and talked mostly to small town businessmen/women, but we've found most are more than happy to talk honestly about both the good and the bad of running a business. That was really what gave us a more concrete idea of what would be involved, as well as put some things into our heads that hadn't crossed our minds, like the hours, costs we'd hadn't accounted for, etc.

 

[hsembrick]

Honestly, I think it would be risky. We have two business and own several commercial/residental properties. If it was me I would invest in property. Luckily where we live the tax roll is going up.

I would also consider buying a space rather than leasing at least if you can't make it with your business you can always rent the property out and make your money back.

Good luck with whatever you decide.

 

[Becky2005]

We have that here -- with the rock & roll theme even:

http://www.funway.com/rock-and-roll-golf/

I think our Cub Scouts did it once, that's why I remember it but it's part of a whole entertainment complex.

I don't know if it could make it on it's own. There is another regular indoor mini-golf (not glow in the dark, etc..) and it actually closed down for a while but is back running. It's never busy.

So, it would be iffy but if you did research on it to make sure the market would bear it, could work.

I wanted to add here is another glow in the dark -- it's in a mall though, not stand alone:

http://www.opryglowgolf.com/lo_aurora.htm

 

[Evi]

I think you could do it unfortunately your start up will be so much more then it was for Monster mini golf they bought out all the props from an auction house. But if your imaginative it could work. I love mini golf but honestly the glow in the dark places don't do it for me. But I think little people love it.

 

[BarryMark]

I would do the math, crunch the numbers and see if your area has enough people to sustain a mini golf center. Since you have limited money I would go to a college that has a business department and approach them with the idea. See if they will supply you with a marketing major, an accounting person, management student, etc. A team that will analize everything for you on the cheap, food and a small stipend. This will look good on their record and it will be "real world" experence.

If you have the population to support it and can get the kids to have parties and do everything to keep the place filled you will be ok. EVERYTHING IS MARKETING!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! You need to utilize the internet, and out of the box marketing, stuff like a car wrap etc.

The leader is Monster mini golf. It is imperitive that you fully understand EXACTLY what they do and why they do things. You have to go to a MMG
franchise and see how they do things. If you were able to get hold of their operating manual it will show you everything. You can take the best things from it and try it.

MMG has a 30k franchise fee and in my opinion they do very little for that money. On top of that you have to pay I believe 8%.

Without question you can do it yourself. If you don't have a business background it will be harder.

The company who is doing the buildout will supply you with everything that you will need to know. They will put you in touch with other owners who they have a business relationship with.

On long Island NY they just opened 2 MMG in the last 6 months or so. Take a trip and see how they are operating. Come on Fri Sat & Sunday blend in and get an insiders view. Don't try and talk to them because this is their busy time.

The party room has to be filled and you have to price it accordingly. An affordable price means that every kid will want their party at your place. Once you get several months of parties you will see kids that will be their on a regular basis.

Again crunch the numbers, do the demographics.

************************

MMG founder... her background enabled her to come up with an idea and make it work. MMG was written up in a few business magazines.

The price of gas is also something to consider along with the economy.

Thigs to get them in the door =. faith based nights (churches) School fundraisers, daycare centers, boy scouts / girl scouts etc etc. Business owners can bring their employees down for meetings and golf. Lots of ideas.

Good luck!

 

[SarahKate]

You have gotten some really sound, phenomenal advice so far. I won't give you my business/financial advice, but I've been to a couple of these.

We live in a city of about 110k and there are many surrounding towns with folks who "come to town" to shop, dine, etc.. There is a Glow Golf course in our mall. We have gone there a handful of times, and I think it is $5/person. To be honest, it is not that great. It's basically one big room with the black lights and murals. Our daughter has fun there, but we kinda just fly through the course. I have never seen it busy and usually there is no more than one other group besides ours. Granted, I'm not there all the time, but I don't see how they could be doing that well - especially since our mall charges HIGH rent. I wouldn't be surprised if they go out of business in the next 6 months.

We have been to a totally different "Glow Golf" place at a mall in St. Louis (I think it was at The Mills). This one is night and day better than the one near us. It's a little more expensive, but they have the course laid out into rooms. There would be a few holes in one room, then you're on to the next room with the next couple of holes. Each room kind of had its own theme - beach, sealife, medieval, rock, etc. I absolutely LOVED going from room to room. I am not quite sure how to explain it but it just felt wayyyy cooler to do it that way than to have it all in one open area. I think it was a little bit the element of surprise and not knowing what was around the corner.

I think there are many different options you could explore to make it different than other courses. Someone earleir in the thread mentioned a bar - that could be a good idea in that it would attract a different demographic besides just kids/families. Could have special late nights to attract young adult groups. Maybe a snack bar too? And a birthday party room, of course.

Just be sure to do your due diligence before you jump into anything. Location is everything. Talk to people (and coming here was a great idea - you really can get a great sampling, as you already have).

 

[plummer925]

I did not read through the thread so I apologize if this has been answered. There is one at the Maine Mall. Though it looks interesting, on a Saturday there were about 5 families in there - not busy at all. Maybe you should drive to the Maine Mall to check it out?

 

[hsmamato2]

I can only speak for myself here....if it is a good deal for some indoor family fun,especially in winter- you could make a go of it- but I have to emphasize.....make it a good deal. Try for large numbers of people coming in for deals- like BOGO deals,maybe the odd groupon-
Cater to parties,advertise,homeschool and scout groups,etc etc. You might be able to work that way- but you'd have to be GOOD. in todays economy,if you aren't it just isn't worth it. for instance I took one kiddo to a local bounce place b/c they ran a group midweek special for hs'ers once- now the place is on my radar(kiddo loved it) and if they run a decent special I can afford,I'll def. go back.
Like myself, one income-homeschool family. In winter we look for good deals for fun indoors- in NH,you have long winters
But we'll only pay $$ if something is actually a good deal.I say this b/c I know you need a certain income to make it work,so you'd have to understand your customers well to do that.
I'd focus like a laser though- is it little kids? teens? adults? maybe all 3, but different times aiming at different age group interests?

 

[hsmamato2]

There is a Glow Golf course in our mall. To be honest, it is not that great. It's basically one big room with the black lights and murals.

We have been to a totally different "Glow Golf" place at a mall in St. Louis This one is night and day better than the one near us. It's a little more expensive, but they have the course laid out into rooms. There would be a few holes in one room, then you're on to the next room with the next couple of holes. Each room kind of had its own theme - beach, sealife, medieval, rock, etc. I absolutely LOVED going from room to room. I am not quite sure how to explain it but it just felt wayyyy cooler to do it that way than to have it all in one open area. I think it was a little bit the element of surprise and not knowing what was around the corner.

I was coming back to say this- I thought monster golf was LAME and so did my kids- if you do this, try for what pp means- not just a room with a few putt putt holes. I like the sound of an interesting course,we actually looked at MG,and all decided it wasn't worth paying for,and drove to an interesting outdoor course across the state

 

[AmberHeartsDisney]

One of the malls around here has glow in the dark mini golf. I never went in tho.

 

[jmpellet]

We have friends that are doing something similar here in MA only they are doing lasertag, a self service bowling alley, and some easy to make foods. They are going to supplement it with the delivery of big water slides. These are much more profitable around here even though the rental period is shorter. The friend doing it worked at a rental type place and has really done his homework by visiting places, going to chamber events, etc. I could see if he would chat with you...

 

[JodiR]

I opened a children's boutique in a mall in October 2009. The town has a population of 39,000. The next closest town has a population of 66,000. The 2 towns run together (you don't realize that you are in the next town).

I am also in a mall that is slow traffic. I never realized I could so well. I was making a profit the first month. I took that jump and it has paid off.

 

[plummer925]

Hello NHBelle and others.
... That being said, if you are quoted $70,000 for an 18 hole Black light mini golf course...well, to be honest, you are getting crap. Our courses have ranged in prices, but each one is an original from the other and that is what makes us unique and helps bring your players back time after time. Prices on an 18 hole have ranged from $120- 180,000

First off - shameless advertising.

Second $70,000 will buy you "crap"!?!? If so it DEFINITELY sounds like a business to RUN FROM!