It costs a lot of money to open a family entertainment center (FEC). Ensuring that this investment results in a profitable FEC was the theme of the IAAPA Expo session, “Key Strategies for Opening a Facility That Thrives.”
One strategic key to FEC success is determining “who your ideal customer is,” said Sheryl Bindelglass, CEO of SherylGolf. Figuring out who your target market is and what thrills them “will help you understand what attractions you’re going to put in.” It is vital to get past the notion of serving everybody, she added, “because you can’t service everybody and service them well.”
After a budding FEC operator has established its ideal customer strategy, it then needs to strategize the character and culture of the FEC. Its brand should be clear and intelligible to its ideal customer base, which includes determining the brand promise, the message that communicates the FEC’s main sales hook to its core customer base. “Will you be the No. 1 place for families to bring their kids?” Bindelglass asked. “Will you be the ultimate place to have corporate events?”
Creating an effective staff training strategy matters, said Ruby Newell-Legner, guest experience expert with 7 Star Service. To do this, FEC entrepreneurs need to base their strategy on what they want their staff to know, feel, and do during the course of their jobs. “That’s the question you need to answer before you start anything,” she told the audience.
Newell-Legner stressed that FEC managers need to engage their employees on a personal level, valuing their contributions in an open and positive manner. The actual training must also be fun to succeed. “If it’s not fun in the training, then it’s not going to be a fun place to work,” she quipped.
An overarching business strategy is a necessity. It should include elements such as leases, insurance, and comprehensive market research, said Jason Avant, president and CEO of Launch Trampoline Park. “A hunch is not good enough,” he said. In making decisions based on hunches, “I was right maybe one in every 10 times. But then I began to research and find companies that would help me do market analysis. ... This is how your business is going to be successful.”
The takeaway: FEC entrepreneurs must develop and execute cohesive, fact-based strategies for all elements of their business before opening their FECs to the public. Doing so can maximize their chances of thriving from day one.