8 Considerations to Make before Starting an Escape Room Business
Escape rooms have gained immense popularity in the last few years. Escape games or breakout games are exciting adventure games meant to satisfy the inner detective in you. One of the biggest USPs of this activity is that it is very easily adaptable for players of any age or skill level. But are escape rooms easy to establish a business? Not really. Many investors tried to ride the wave of the rising popularity of breakout escape rooms, but some of them have failed miserably.
But it is the joy of these escape room games that motivate business owners to open escape rooms. The love for the game is actually an important aspect of a successful escape room game. A lot of escape room owners have started off as players first. Because owning a game room is even better than playing in one. But starting off with the escape room business is not easy.
This is where we come in. If you are planning on starting an escape room business, you need to be aware of certain things. So, here is a list of 8 things to consider before starting an escape room business.
8 Considerations to Make Before Starting an Escape Room Game
Familiarize Yourself with Escape Rooms
If you want to establish an escape room business, you will first have to learn the details of the game. Play the game multiple times. Learn the behind-the-scenes details. Focus on the nitty-gritty details that might be relevant to setting up the business. Memorize the rules, the scenario, the functioning of the gamemaster, and the things should avoid.
Research on the industry
Researching the industry is the next thing you should do. Learn how this particular market works. Collect data on different aspects of the escape room business. Decide which model you want for the escape room – Physical escape rooms, virtual escape rooms, or both.
Analysis the competitors
You have to analyze your competitors to learn the ropes of the business. Research the different escape rooms near you. Learn about the themes and trends they follow. Find information on how they attain resources. Analysis of the business models of successful businesses. While the business is still in its infant phases, you will have to learn as you grow.
Connect with the business community
Make your business visible to the community. Connect with the community via LinkedIn, Facebook, Reddit, etc. Join groups that will be helpful to your business. Talk to escape room owners to get a better idea of the business. Attend seminars, conferences, and business summits that will help you develop a viable plan.
Make a proper business plan.
You will have to come up with a proper business development plan for your escape room business. This will provide you with a good bird’s-eye view of what you are dealing with. Decide which mode the business will be and then identify the market and target audience and factor in those to decide on a location. Employ good marketing and business strategies that will make your business successful.
Decide on the theme and venue.
If you have decided on the mode of the escape room game as a physical space, you must decide on the themes and the venue. The location must be your priority. Choose your location based on your target audience, building position, accessibility, and if they could be made disability-friendly. Then decide on the themes. The themes will be based on how many rules you are willing to accommodate. Look up popular trends and themes to develop good scenarios.
Capital is an essential part of your plan. Decide on the budget for the business and try to allocate the resources needed for it. You have to finance the location, which will inevitably be expensive. Then there will be the registration fee, commissions involved, etc. Basic amenities like electricity, water, and expenditure needed for the setup and employee compensation need to be considered as well.
Register your business
Since this will be a new business, you will have to register the business. This is a vital step in getting legal and commercial recognition. Get your taxes in order and make sure your facility follows the health and safety guidelines of the state.
In a nutshell
There are always going to 2risk while you are running your own business, but with the right steps in the right direction, the journey could become smoother. It is even better when you enjoy the field you are working in. Nothing is more rewarding than work you genuinely enjoy. In this particular case, you must be familiar with how escape rooms operate. You must be clear about the technologies and expenses involved and, most importantly, how to achieve a regular flow of players into your escape room. Familiarize with the industry and research well on the escape room industry. All things considered, you can start running your escape room business in no time.