Do you own a family entertainment centre or plan to open one? You can probably appreciate that there are so many considerations to take into account that buying leisure equipment does not figure until the very end.
Good planning is absolutely essential for the business to take off. You need to have a solid start, so you need to figure out some of the first details you need to address. After fleshing out a business plan and securing capital, the first step in realising your intentions usually involves identifying your location so you can confirm if you can get zoning approval for your facility.
Depending on how big and high-end you intend your facility to be, you might want to invest in a site feasibility study so you can have a better approximation of your business’s profitability and ROI. Incidentally, this is also helpful in obtaining financing.
With the issue of location and zoning approval addressed, you then need to figure out your arcade equipment budget and the right game mix to cater to your target market, based on the local demographics and type of facility you’re building. Once the arcade equipment is in place, you can then worry about opening.
It takes work, time, and capital to get this kind of business up and running. The demands on your resources will not wane as you work to not only keep it going, but to grow it as well. As you expand, there will be need to further invest in leisure equipment, including more arcade games, token changers, card swipe systems, counters, ticket redemption centres, etc.
It is safe to assume that acquisition of these assets would cost quite a bit of money. It is important, however, for any business to have strong cash reserves, so you should take a different route from using company money to fund such an investment. For this reason, you should look into leisure equipment finance.
We at Portman Asset Finance are in the business of helping leisure and hospitality companies with the acquisition of equipment such as those used in the amusement and gaming industry. We have been doing it for a long time and have the expertise to understand and provide the fitting solution to the challenges you face as a family entertainment centre.
We can fund almost any tangible leisure asset, so if funding for new assets is what you need, call us and let discuss it with our account manager.