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The excel spreadsheet link at the bottom of this section can be downloaded to your computer. It will help you to understand the revenue potential of your LASERTRON laser tag attraction.
There are several variables that can be adjusted within the spreadsheet. It is important to note that each one of the variables has the ability to significantly affect your laser tag's revenue potential in either a positive or negative way.
The following are examples of the different variables that will affect the success of your laser tag attraction and its revenue:
If the target market for your laser tag center will be childrens' parties, youth groups, teenagers, and families, the vast majority of your business during the school year will be Friday, Saturday, Sunday and Holidays. Unless you tap into the corporate market and adults ages 18 to 35, it will be very difficult to get customers to utilize your facility on the weekdays.
If you are a parent think about how your family's week is scheduled. The only free time for entertainment for most families is on the weekends. For single adults, free time can be found on the weekdays and weekends.
It is very important to design your facility so that it will maximize your revenue capability for the busiest times - weekends and holidays. LASERTRON's Center Manager Pro Point of Sale System has a reservation system which helps you to maximize your laser tag attraction sales during those times.
The first objective for your LASERTRON laser tag attraction is to create the very best attraction and guest experience possible. If your laser tag management and operational systems successfully accomplish both, you will be able to receive top dollar for your laser tag attraction. If you are able to maintain and improve your attraction and guest experience over time, you will be able to maintain and increase your pricing overtime as well.
The attraction experience is made up of many things that have to work seamlessly around the guest's perspective, for example:
The guest experience is what happens before, during, and after the experience of the attraction.
For example, participants in a laser tag attraction may have to sign-in and go through a laser tag briefing and vesting process. Another example is when the laser tag game begins and the referees interact with the players in the arena. The goal of each referee is to make sure everyone follows the rules and all participants have a great experience. These interactions can be either positive or negative.
If both the attraction experience and the guest experience meets or exceeds your guests' expectations, the experience will be positive and the laser tag attraction will generate stronger repeat business.
The successful performance of a great attraction and guest experience is always determined by the quality of the management, staff, and the operational systems used to insure a great experience.
Our Professional Laser Tag Operators' Conference covers in detail the management and operational systems required to be successful.
Almost everyone has heard the phrase, "Location, Location, Location". The quality of the location is very important in determining the success of your laser tag attraction. A laser tag attraction in a high traffic entertainment area with good demographics has the ability to earn much more than a location in a low traffic area with poor demographics.
The rent in a secondary location is cheaper for a reason. You will spend more time and money promoting your facility in a secondary location. This doesn't mean a secondary location will fail, it simply means that it will take more time and effort to attract your guests. The marketing and promotional costs for a secondary location will be higher than a high traffic location with strong demographics.
Your ability to market and promote your facility will have a direct impact on your laser tag attraction. If you build it, some may come; but, not enough to pay the bills and make a profit. You have to have the skills to successfully market and promote your facility. In addition, you will need to develop good sales skills and use them on a daily basis.
Our Professional Laser Tag Operators' Conference covers in detail the marketing and promotional systems required to be successful as well as sales techniques to book birthday parties and group sales.
The size of your LASERTRON arena (which determines the number of players you can field at one time), the layout of your briefing and vesting room floorplan, and the number of player vests you have can all affect the revenue potential of your laser tag attraction.
One of the questions we ask a prospective client is the following, "What percentage of the total market potential do you hope to attract with your laser tag attraction?" The answer is usually 100%. We then ask how much space is going to be allocated for the laser tag arena. Many times the answer is 3,500 square feet or less. We then tell them that they can only expect to attract 20% to 30% of the total market potential. They are usually surprised and ask why.
There are two main reasons.
The first one has to do with the square footage required for each player. The industry standard is around 150 square feet per person. Arenas under 3,000 square feet require a minimum of 150 square feet per person.
The maximum number of participants in a 3,000 square foot arena is only 20 players. The average size of a birthday party is 12 to14 players. This limits the laser tag attraction to only one party per time slot. This will significantly limit the number of parties you can handle on a busy Saturday.
Based on industry standards the average birthday party plays two games, which means the maximum capacity for birthday parties is 2 parties per hour. Most parties are held on Saturdays from Noon - 6:00pm. The maximum number of parties is only 12 parties during this time period.
By increasing the number of laser tag vests to 30 and increasing the size of the arena to 4,500 square feet or more, you will be able to double your birthday parties on Saturday.
The second reason a small arena won't attract a larger percentage of the total market potential is because small arenas don't generate significant repeat play from adults and teenagers. Laser tag arenas ranging in size from 5,500 to 7,000 square feet or more can generate 200% to 300% higher revenues by attracting repeat business from adults and teenagers. The smaller arenas do not have the same appeal to adults and teenagers as the larger arenas do.
Multi-Level arenas have a significant advantage over Single-Level arenas. If a player has the choice of playing in a Single-Level arena or a Multi-Level arena with the same playable square footage, the player will almost always choose the Multi-Level over the Single-Level. The Multi-Level arena is more exciting to play because of the multiple levels. The multiple levels produce a real world 3D playing environment.
Multi-level arenas can also be more profitable and cost effective in the long-run. By adding a second level, you increase the square footage and the number of players who can play. An additional advantage is that the rental cost of the additional space is free if you rent your space. If you own the building, adding square footage on a second level is also less costly than building additional space. A Multi-Level arena can be a significant win-win for your laser tag attraction.
A reservation system provides your LASERTRON attraction with a significant competitive advantage. It maximizes your laser tag attractions capacity on busy weekends and holidays which allows you to generate more revenue.
A reservation system also significantly maximizes your guests' satisfaction. The ability for a guest to make a reservation in advance or for the same day and guarantee their playing time is a big benefit. By using a reservation system guests don't have to worry about standing in line to play. They can schedule their playing time and show up knowing a spot has been saved for them.
Again, think about how you schedule your own family's activities. Families today have very busy schedules, with a reservation system you guarantee a family's fun in the window of time they have for that particular weekend.
The LASERTRON reservation system also works extremely well for birthday parties and groups. Birthday parties and group outings are planned activities for a specific time and date in the future. Birthday parties and groups must have guaranteed time slots.
The population in your surrounding area will have a significant impact on the success of your laser tag facility.
If there is little or no entertainment in your area for adults, teenagers and younger children, it may be because the population is too small to support the business.
Unfortunately, there isn't a great deal of information on the minimum population needed to support a laser tag attraction. There are so many variables that affect the success of a laser tag facility that it is difficult to gauge which factors made it successful or unsuccessful.
However, what we do know is that there are very few successful laser tags with a population of less than 100,000 in a ten mile radius. For the security of your investment, LASERTRON recommends you have at least 250,000 population in a ten mile radius.
Finally, one of the most important systems needed to evaluate your entertainment center's performance is a detailed survey in which the highest ranking or score is extremely difficult to achieve. The goal is to have the overall visit to your entertainment center exceed your guests' expectations. If you exceed your guests' expectations the chances of continued success are dramatically increased. Never assume you are doing a good job. Make sure you survey every birthday party, group, and individual player on a daily basis. Your center's success is totally dependent on strong repeat business.
Call Ann or Greg below to receive your Free Demographic Report and Revenue Projection Spreadsheet.