(+1) 9784800910, (+44) 020 3097 1639 [email protected]
Select Page

Written by Elma Steven | Updated on June, 2024

Axe Throwing Business Plan

How to Write a Axe Throwing Business Plan?

Axe Throwing Business Plan is an outline of your overall axe throwing business. The business plan should include a 5 year financial projection, marketing plan, industry analysis, organizational overview, operational overview and finally an executive summary. Remember to write your executive summary at the end as it is considered as a snapshot of the overall business plan. You need to be careful while writing the plan as you need to consider various factors that can impact the business’s success.

You can spend 3 to 4 weeks trying to write your own Business Plan by browsing through free online resources or hire a professional writer for $2,000. There is a better way to do this- Download our Axe Throwing Business Plan to write a plan in just 2 days.

This depends on your expected revenue and cost. Also, we need to consider the startup cost. Find out the answer- Is Axe Throwing Business Profitable?

Executive Summary

Chris Johnson, an entrepreneur and axe throwing aficionado, opened the thrilling Sharp Edge Axe Throwing Arena in the bustling center of Austin, Texas. The axe throwing, team-building, and competitive leagues that we host are second to none. Sharp Edge offers an exciting and skillful combination in a safe and inviting setting, drawing on Chris’s vast experience in recreational sports and customer service.

Mission: Our mission is to provide an inviting space free from danger, where people can feel comfortable embracing their inner lumberjack, learn the thrill of axe throwing, and form bonds with others who share their love of adventure and teamwork.To maintain the highest level of safety and teaching, making sure that each axe thrower has the necessary knowledge and abilities to throw with accuracy and self-assurance.

Vision: Our vision is to be the premier destination for axe throwing experiences, igniting a passion for this thrilling sport and fostering a community of enthusiasts.

Industry Overview:

An dynamic and quickly expanding market, the axe throwing business in the United States has great potential. With a predicted CAGR (compound annual growth rate) of 20% from 2018 to 2023, this market is poised to reach a value of $25 million by 2023. Several causes are contributing to this expansion, such as the rising demand for axe throwing events, the proliferation of axe throwing locations, and the rising popularity of axe throwing as a leisure activity.

Check out this guide on how to write an executive summary? If you don’t have the time to write on then you can use this custom Executive Summary Writer to save Hrs. of your precious time.

Financial Highlights

Earnings & Profitability

Screenshot 2023 12 28 at 1.00.49 PM

Break-Even Analysis

Screenshot 2023 12 28 at 1.08.02 PM

Business Description

Business Name: Sharp Edge Axe Throwing Arena

Founders: Chris Johnson

Management Team: [You can ignore this/ delete this but its better to provide it]

/

1 3

Legal Structure: LLC

Location: Miami

Goals & Objectives:

Build a Strong Customer Base:Aim to attract and retain a diverse range of customers, from groups seeking recreational activities to corporate teams looking for team-building experiences, within the first year of operation.

Enhance Brand Recognition:Develop a strong brand presence in your area through targeted marketing, collaborations with local events, and active social media engagement that highlights the excitement and uniqueness of axe throwing.

Deliver High-Quality Experience:Consistently provide a safe, fun, and high-quality axe throwing experience that meets or exceeds industry standards, establishing a reputation for an excellent and unique recreational activity.

Expand Services Portfolio:Within two years, broaden your offerings to include additional services such as leagues, special themed nights, or private event hosting like birthday parties or bachelor/bachelorette parties.

Achieve Financial Stability:Reach a sustainable financial model with steady revenue growth within the first three years of operation.

Foster a Competitive and Fun Community:Create an engaging and friendly environment that encourages repeat visits and fosters a sense of community among participants.

Incorporate Innovative Features:Continuously update and invest in innovative features like digital scorekeeping, varied target designs, or interactive game modes to enhance the customer experience.

Services: 

  • Axe Throwing Experience:Provide customers with a high-quality axe throwing experience, with lanes equipped with the latest safety features and trained staff to assist and guide.
  • League and Tournament Hosting:Offer regular leagues and tournaments for different skill levels, promoting a competitive yet fun environment.
  • Team Building and Corporate Events:Specialize in corporate events and team-building activities, providing a unique experience that fosters camaraderie and teamwork.
  • Private Party Hosting:Cater to private events like birthday parties, bachelor/bachelorette parties, and family gatherings with customized axe throwing experiences.
  • Skill Development Workshops:Conduct workshops for beginners and intermediate throwers to improve their technique, safety knowledge, and overall skill.
  • Axe and Gear Retail:Sell specialized axe throwing gear, including axes, safety equipment, and branded merchandise.
  • Themed Nights and Special Events:Host themed nights (e.g., medieval, lumberjack) and special events like holiday parties or date nights to attract a diverse crowd.
  • Mobile Axe Throwing Unit:Develop a mobile unit to offer axe throwing experiences at offsite locations like festivals, fairs, and private residences.
  • Food and Beverage Services:Include a food and beverage area, possibly partnering with local food trucks or vendors, to enhance the overall customer experience.

Financial Overview

Startup Cost

Revenue & Cost Projection

Profitability & Cash Flow Projection

Business Model

Check out  the 100 samples of business model canvas.

SWOT

Check out the 100 SWOT Samples

Marketing Plan

Promotional Channels

Social Media Marketing – $15,000 (30%):

  • Platform Focus: Concentrate on platforms like Instagram, Facebook, and TikTok, ideal for sharing dynamic videos of axe throwing, customer experiences, and special events.
  • Paid Ads: Use targeted ads to reach demographics interested in recreational activities, group events, and unique experiences.
  • Content Strategy: Updates on upcoming events, client testimonials, and thrilling axe throwing moments are posted on a regular basis. Include monthly instructional or safety films in addition to weekly challenges or top scores..

Website and SEO – $10,000 (20%):

  • Website Revamp: Ensure your website is engaging, user-friendly, and showcases your facilities, event offerings, and booking options.
  • Blog Content: Regularly update a blog with articles on axe throwing tips, team-building activities, and highlights from events to drive organic traffic.
  • SEO: Optimize for keywords related to axe throwing, recreational activities, and local entertainment options.

Email Marketing – $5,000 (10%):

  • Newsletter: Develop a monthly newsletter featuring upcoming events, special offers, and highlights from recent axe throwing sessions.
  • Segmentation: Tailor messages for different groups, such as corporate clients, birthday parties, and casual visitors.

Local Partnerships – $7,000 (14%):

  • Community Events: Partner with local festivals, fairs, and community events to set up temporary axe throwing stations or promote your business.
  • Collaborations with Local Businesses: Work with nearby entertainment venues, bars, and restaurants for cross-promotion and package deals.
  • Influencer and Group Collaborations – $6,000 (12%):
  • Collaborations: Partner with local influencers or groups for special axe throwing sessions, leveraging their following for broader reach.
  • Sponsorship Deals: Offer your venue for team-building events or group meet-ups in exchange for social media promotion.

Direct Mail and Local Advertising – $4,000 (8%):

  • Direct Mail: Send out flyers or discount offers to local residents and businesses.
  • Local Media: Invest in advertising in local leisure magazines, community publications, and local event listings to build a strong community presence.

Referral Program – $3,000 (6%):

  • Implement a referral program that incentivizes customers to bring friends, family, or colleagues, capitalizing on word-of-mouth and building a loyal customer base.

Brand Management

Social Media Marketing

  • Brand Voice and Visual Identity: Come up with a lively, entertaining brand voice that appeals to many people. Instagram, Facebook, and TikTok are great places to share visually appealing content that highlights axe throwing, customer encounters, and special events..
  • User-Generated Content: Get your consumers to post videos of themselves axe-throwing and tag your company in the posts. To create a sense of camaraderie and genuineness, repost them.
  • Live Sessions: Host live sessions featuring axe throwing tips, fun competitions, or Q&A with staff to engage your audience and showcase the thrill of the sport.
  • Search Engine Marketing (SEM) and Local SEO:
    • Ad Copy: Highlight the unique and fun experience of your axe throwing facility, focusing on aspects like a great group activity, team-building sessions, or special events.
    • Website Optimization: Ensure your website is engaging, user-friendly, and optimized for search engines with relevant keywords like “axe throwing”, “group activities”, and “team building”.
    • Google My Business: Keep your Google My Business listing updated with current photos, services, and contact information to improve local search visibility.
  • Email Marketing:
    • Newsletter: Share updates about new game modes, league information, special offers, and highlights from recent events or competitions.
    • Segmentation: Customize emails for different groups such as corporate clients, birthday party groups, and casual visitors to increase relevance and engagement.
  • Local Partnerships and Sponsorships:
    • Community Events: Partner with local festivals and fairs to set up temporary axe throwing stations or promote your business.
    • Collaboration with Local Businesses: Work with nearby entertainment venues, restaurants, and bars for cross-promotion and package deals.
  • Content Marketing:
    • Educational Content: Create blog posts and videos about safe axe throwing practices, techniques, and the fun aspects of the sport.
    • Behind-the-Scenes Insights: Share stories and photos from your facility, focusing on the fun and vibrant atmosphere.
  • Influencer and Group Collaborations:
    • Partnerships with Local Influencers: Collaborate with local influencers or groups for special sessions, leveraging their audience for broader reach.
    • Content Collaboration: Co-create content that highlights the excitement and uniqueness of axe throwing.
  • Offline Advertising:
    • Local Media and Print: Spread the word via local media such as lifestyle magazines, bulletin boards, and radio stations. Make sure the advertisements convey the joy and thrill of axe throwing.
    • Flyers in Community Centers and Gyms: Place flyers and business cards in local gyms, community centers, and popular hangouts.
  • Referral Program:
    • Incentivize Referrals: Offer discounts or free throws for customers who refer friends, tapping into the power of word-of-mouth.

Go To Market Strategy

Online Presence and Community Engagement

Social Media Marketing:

  • Brand Voice and Visual Identity: Come up with a lively, entertaining brand voice that appeals to many people. Instagram, Facebook, and TikTok are great places to share visually appealing content that highlights exciting events, customer encounters, and axe tossing.
  • User-Generated Content: Get your consumers to post videos of themselves axe-throwing and tag your company in the posts. To create a sense of camaraderie and genuineness, repost them.
  • Live Sessions: Host live sessions featuring axe throwing tips, fun competitions, or Q&A with staff to engage your audience and showcase the thrill of the sport.

Search Engine Marketing (SEM) and Local SEO:

  • Ad Copy: Highlight the unique and fun experience of your axe throwing facility, focusing on aspects like a great group activity, team-building sessions, or special events.
  • Website Optimization: Ensure your website is engaging, user-friendly, and optimized for search engines with relevant keywords like “axe throwing”, “group activities”, and “team building”.
  • Google My Business: Keep your Google My Business listing updated with current photos, services, and contact information to improve local search visibility.

Email Marketing:

  • Newsletter: Share updates about new game modes, league information, special offers, and highlights from recent events or competitions.
  • Segmentation: Customize emails for different groups such as corporate clients, birthday party groups, and casual visitors to increase relevance and engagement.

Local Partnerships and Sponsorships:

  • Community Events: Partner with local festivals and fairs to set up temporary axe throwing stations or promote your business.
  • Collaboration with Local Businesses: Work with nearby entertainment venues, restaurants, and bars for cross-promotion and package deals.

Content Marketing:

  • Educational Content: Create blog posts and videos about safe axe throwing practices, techniques, and the fun aspects of the sport.
  • Behind-the-Scenes Insights: Share stories and photos from your facility, focusing on the fun and vibrant atmosphere.

Influencer and Group Collaborations:

  • Partnerships with Local Influencers: Collaborate with local influencers or groups for special sessions, leveraging their audience for broader reach.
  • Content Collaboration: Co-create content that highlights the excitement and uniqueness of axe throwing.

Offline Advertising:

  • Local Media and Print: Spread the word via local media such as lifestyle magazines, bulletin boards, and radio stations. Make sure the advertisements convey the joy and thrill of axe throwing.
  • Flyers in Community Centers and Gyms: Place flyers and business cards in local gyms, community centers, and popular hangouts.

Referral Program:

  • Incentivize Referrals: Offer discounts or free throws for customers who refer friends, tapping into the power of word-of-mouth.

Organizational Overview

Founder

eAO9bCs0YTdvc NBTxdeLLE1HwPACrSgH HZAog JLQN

Chris Johnson is an influential person in the world of leisure sports, especially the burgeoning activity of axe throwing, and a dynamic entrepreneur in general. His interest in adventure sports and his ambition to develop novel forms of leisure led him into this niche industry. Chris is uniquely qualified to spearhead this endeavor because to his extensive experience in business and sports administration as well as his strong sense of community involvement.

Chris is an expert at making people want to participate because of his background in community sports event planning and his knowledge of what makes an activity fun without putting them in danger. He is a master at both the nuts and bolts of operating an axe throwing facility and creating a welcoming environment for all kinds of people to come and throw their weights.

With an entrepreneurial passion and a dedication to provide one-of-a-kind leisure experiences, Chris embarked on an axe throwing arena endeavor. His facility is intended to serve as a community hub where individuals can relax, engage in friendly competition, and form meaningful connections, not only as a location to hurl axes. Chris is a firm believer in fostering an atmosphere where the sport and its community may thrive.

Prioritizing client happiness, safety, and high-quality experiences is at the heart of his company. The arena assures that all participants have a safe and happy experience with its top-notch facilities, well-maintained equipment, and trained personnel. Chris’s establishment quickly gained a reputation for excellence in the local leisure and sports sector due to his dedication to upholding high standards.

In addition to his work in the day-to-day operations, Chris Johnson is an active member of the community at large. Axe throwing leagues and competitions are among his many activities; he also participates in community events and works with companies to organize group activities. Participating in community events not only helps him learn more about the industry, but it also strengthens his resolve to improve the recreational opportunities in the area.

The axe throwing company is poised to carve itself a special place in the leisure sports market under Chris Johnson’s direction. He has an entrepreneurial spirit, a love for alternative sports, and a commitment to creating a welcoming environment where people can relax and have fun.

Positions and Responsibilities

Business Owner / General Manager: Everything at the axe throwing center is under your watchful eye as owner and general manager. Managing resources, creating a budget, and staying in line with safety laws are all part of this process. Key company choices, operational standards, and public and professional forum representation are all under your purview.

Axe Throwing Coaches / Instructors: The job of these experts is to show people how to throw an axe correctly, make sure they observe all safety rules, and give them advice on how to become better. In addition to helping to organize leagues or competitive tournaments, they oversee sessions to provide a safe atmosphere.

Event Coordinator: The facility’s event coordinator is in charge of planning and executing all aspects of the facility’s event schedule. Corporate gatherings, private celebrations, and league play all fall under this category. They work together with customers to figure out what they need, handle reservations, and make sure everything goes off without a hitch during events.

Safety Officer: Customers and employees alike rely on this position to keep them safe. The duties of the Safety Officer include conducting frequent danger inspections, enforcing safety regulations, providing visitors with safety briefings, and handling any emergency circumstances that may occur.

Customer Service Representatives / Front Desk Staff: Bookings, client questions, and check-ins are all under their supervision at the front desk. They make sure visitors feel at home, answer questions about the services, and process payments.

Marketing and Social Media Manager: In charge of promoting the company via several marketing platforms. In order to bring in new consumers and hold on to the ones they already have, they oversee the company’s social media accounts, promotional materials, and website.

Facilities and Maintenance Manager: Axe throwing lanes, equipment (including axes), and the general facility are all part of this role’s purview. They keep the facility clean and in good repair, check that all equipment is in working order, and fix any problems that arise quickly.

Finance and Administrative Officer: Manages the company’s money matters, including budgeting, accounting, and planning. Financial reporting and insights are provided to aid in decision-making, and they also manage payroll, invoices, and billing.

Bar and Food Service Staff (if applicable): These employees are responsible for overseeing the running of any food or drink service areas inside the building. They have to keep track of supplies, serve customers, and make sure everything is in order in terms of health and alcohol laws.

Organogram

f2CgBqR0fFEaFcKtZtAYncY5a013 cC8SimvbFwGIiblve1kVE AiFaLUVtEqQDIwi0DWbYNk2AYSAyti7 SOindPHjxVZw 8zZQS

Operational Overview

  • Axe Throwing Sessions:Axe throwing is a common activity at your facility, and you may book it for individuals, groups, or even team-building exercises. From complete novices to seasoned pros, these lessons are tailored to suit everyone’s throwing abilities. Expert guides can show you the ropes and make sure you don’t hurt yourself.
  • League Play and Tournaments:Your establishment organizes leagues and competitions for axe throwers who are more competitive. If you’re seeking a competitive edge and a chance to meet new people, these events are for you.
  • Private Event Hosting:Birthdays, business gatherings, bachelor/bachelorette parties, and team-building exercises are just some of the private events that this venue can accommodate. Exclusive use of the lanes, catering, and individual coaching sessions are all part of the customizable packages.
  • Walk-In Sessions:Axe throwing may be experienced by individuals or small groups via walk-in sessions, which do not need previous scheduling. For those seeking an impromptu outing or who are unfamiliar with the sport, this provides a degree of adaptability.
  • Group Workshops and Training:If you or someone you know is interested in learning how to throw an axe better, your company offers classes and seminars on the subject. Instructors with years of expertise lead these classes, where students learn game strategy, safety measures, and proper technique.
  • Themed Nights and Special Events:Your company hosts themed evenings and other special events to maintain a lively and interesting atmosphere. Ax throwing sessions may be spiced up with themed evenings, holiday celebrations, and other one-of-a-kind activities.
  • Corporate Packages:Companies seeking to provide a one-of-a-kind team-building opportunity may choose from a variety of customizable corporate packages. Team challenges, leadership exercises, and food selections are all part of the customizable packages.
  • Food and Beverage Services:Your establishment may provide food and drink services, according to local rules and restrictions. Improving your customers’ experience is possible with a variety of options, including snacks, beverages, and a full-service bar.
  • Merchandise and Souvenirs:As an additional revenue stream, your company might provide branded apparel and mementos like axes, t-shirts, and caps. Guests may bring a little bit of the experience back with them.
  • Safety and Instructional Briefings:A thorough safety and instructional briefing is conducted by your personnel prior to each throwing session. Everyone can have fun and be safe since everyone is taught the right methods and safety procedures.

Industry Analysis

The global axe throwing industry is a relatively new and emerging market, with a projected CAGR of 15.2% from 2022 to 2027. The industry is driven by the growing popularity of axe throwing as a recreational activity, the increasing number of axe throwing venues, and the growing awareness of the health and fitness benefits of axe throwing.

CuQ7UnfCjLJKqNdGcawBd tuh NGZOIsoIHAXtIq3uuG6i8Q1L0YSAikWhr nfe76KINbMYOAFWfkeqs2V8KF826V4D lwYhGc

Source: CFI

An increasingly popular leisure and entertainment activity, axe throwing is on the rise around the globe, but especially in the Americas and Europe. One factor fueling this expansion is the rising desire for non-traditional forms of entertainment, such as one-of-a-kind experiences. Axe throwing is going from being a popular pastime to a popular social activity, team-building exercise, and competitive sport in North America, where the fad has grown significantly.

The market is filled with both mom-and-pop shops and national chains, and each one provides a different experience that goes beyond axe tossing. Services such as food and drink, league play, themed evenings, and private event hosting appeal to a diverse range of people seeking an exciting and unique outing.

In order to improve the client experience, the sector is also moving towards integrating technology elements and sophisticated safety aspects, such online booking platforms and computerized scoring systems. The emergence of social media marketing has also been good for the axe-throwing industry, as venues promote and connect with audiences on sites like Instagram and Facebook, taking use of the unique and visually appealing aspects of the sport.

Other key trends and stats:

  • Growth of Competitive and Community Aspect
  • Economic Contribution and Employment
  • Emerging Trend in Experiential Entertainment
  • Affordability and Accessibility: Attracts a wide range of customers due to its affordability.
  • Community and Competitive Play: Growing popularity in competitive leagues and community
8MIUD6ptZQpup0uRgqgBSJMHEHCY2WAiYmZXga34vOQgnJLlgTnXnmqSYzu2m7ZB8Z0vFRiYoKZP4pNdYo b7fzI47FpqEPWfY3GTTuPORa

Source: Hubspot

Industry Problems 

  • Safety and Liability: Ensuring the utmost safety for clients during axe throwing sessions is critical, and managing liability and insurance can be complex.
  • Cost and Pricing Strategy: Balancing affordability for customers with the need to cover operational costs, including equipment maintenance and insurance premiums.
  • Equipment Quality and Maintenance: Regularly maintaining and replacing axes and other equipment to ensure safety and a high-quality experience.
  • Skill Levels and Training: Catering to participants of all skill levels, from beginners to experienced throwers, and providing effective training and guidance.
  • Venue Atmosphere and Comfort: Creating an inviting and comfortable environment that enhances the overall experience and encourages repeat visits.
  • Booking and Scheduling Efficiency: Managing bookings efficiently to maximize capacity without overcrowding, and accommodating walk-ins while minimizing wait times.
  • Event Hosting and Group Packages: Offering appealing packages for groups and events, such as corporate team-building, parties, and leagues.
  • Staff Training and Customer Service: Providing excellent customer service through well-trained, friendly, and knowledgeable staff.

Industry Opportunities

  • Safety and Liability: Strict safety measures must be put in place. Having extensive liability insurance and conducting risk assessments on a regular basis are two components of this.
  • Cost and Pricing Strategy: Calculating how much to charge for things like insurance, equipment repairs, and salaries in a way that appeals to a wide range of consumers.
  • Equipment Quality and Maintenance: Assuring the safety and performance of axes and associated equipment by ensuring they are of good quality and regularly serviced. It is critical to do regular inspections and replacements.
  • Skill Levels and Training: Offering structured training sessions for various skill levels, ensuring that beginners feel comfortable and advanced throwers are challenged.
  • Venue Atmosphere and Comfort: Improving the customer service experience by making the space more inviting and interesting. Things like comfortable chairs, enough lighting, and maybe even themed furnishings fall within this category.
  • Booking and Scheduling Efficiency: Implementing an efficient booking system to handle peak times and walk-ins, ensuring a seamless customer experience without long wait times.
  • Event Hosting and Group Packages: Providing tailored packages for different groups and occasions like corporate events, birthdays, or leagues to attract a wider audience.
  • Staff Training and Customer Service: Investing in regular staff training to ensure high-quality customer service, knowledge about safety protocols, and effective management of the venue.

Target Market Segmentation

Demographic Segmentation:

  • Age Groups: Cater to different age groups by offering a range of experiences, from family-friendly sessions for younger participants to more competitive environments for adults.
  • Income Levels: Provide varied pricing options, from affordable walk-in rates to premium group packages, to attract a diverse clientele across different income brackets.
  • Cultural Diversity: Embrace Miami’s multicultural mix by hosting themed nights or events celebrating different cultures and communities.

Psychographic Segmentation:

  • Leisure Activity Seekers: Target individuals looking for unique recreational activities, offering a fun and casual axe throwing experience.
  • Competitive and Sport Enthusiasts: Appeal to those interested in the competitive aspect of axe throwing, organizing leagues and tournaments.

Behavioral Segmentation:

  • Group Events and Parties: Offer tailored packages for groups such as corporate team-building events, birthday parties, bachelor/bachelorette parties, etc.
  • Regular Patrons: Develop loyalty programs or special offers for repeat customers to build a regular clientele.
  • First-Time Participants: Provide introductory sessions and guidance for newcomers to make their first experience enjoyable and safe.

Geographical Segmentation:

  • Local Residents: Focus on locals with targeted marketing and community engagement, positioning your venue as a go-to local entertainment spot.
  • Tourists and Visitors: Attract tourists by promoting your axe throwing business as a must-try Miami experience, possibly collaborating with local tourism businesses.

Technological Segmentation:

  • Tech-Savvy Customers: Implement and promote online booking, digital scoring systems, and social media sharing opportunities for tech-savvy clients.
  • Traditional Experience Seekers: Maintain traditional aspects of axe throwing for clients who prefer a straightforward, technology-free experience.

Market Size

1KU wdKtuUtkG8xaUyDJJNoSOjtqczvu0wEvKdyUiCSMwhCfehch6HdwO5eW7y 6m1Cs9PaQxx
  • Total Addressable Market (TAM) for Axe Throwing Business:

Everyone in your target area or nation who may be interested in axe throwing as a sport or team-building exercise is part of your target market for your axe-throwing company. The demographic profile of the region, including age, cultural interests, and economic levels, as well as leisure and entertainment trends and the rising popularity of alternative recreational activities, might impact this expansive market.

  • Serviceable Addressable Market (SAM) for Axe Throwing Business:

Starting with the TAM, your SAM zeroes down on the people and organizations you have a good chance of really contacting via your company. Your facility’s location, the kinds of axe throwing activities and events you provide (such as walk-in sessions, group reservations, and corporate events), and the marketing channels you use are all potential factors in determining your SAM. If you own a company in a city that hosts social and corporate team-building activities, for instance, your SAM would target such events within a reasonable driving distance.

  • Serviceable Obtainable Market (SOM) for Axe Throwing Business:

The SOM represents the portion of your SAM that is within your reach in light of your present company strengths, resources, and the level of competition. Think about things like the facility’s aesthetics and quality, the product’s originality, the service’s level of quality, pricing strategy, and the company’s local market positioning. Your SOM may, for instance, include a certain proportion of your city’s corporate team-building clients or a subset of young folks seeking for novel social events.

Industry Forces

Market Demand and Entertainment Trends: As a form of alternative and recreational entertainment, axe throwing is seeing a surge in popularity. Axe throwing’s allure as a social, team-building, or competitive activity, as well as the growing trend of experiential entertainment, are some of the factors that impact market demand.

Competition: Axe throwing arenas, amusement parks, and leisure activity companies in the area are some of our competitors. One way to set yourself apart from the competition is to provide themed experiences that no one else does. Other ways include giving league and tournament options, different event packages, and outstanding customer service.

Technological Advancements: You may improve customer experience and expedite operations by using technology like online booking systems, digital scorekeeping, and social media interaction tools.

Regulatory Environment: It is essential to follow all necessary safety standards and insurance policies in the area. This involves keeping strict safety standards and following all regulations for running an axe throwing site.

Economic Factors: Discretionary expenditure on entertainment and recreation may be affected by economic situations. Adapting pricing tactics and providing a range of packages may help cater to customers with varied budgets and keep their attention across economic cycles.

Supplier Dynamics: For tools like axes, targets, and protective gear, it’s crucial to establish reliable partnerships with vendors. Your operating expenditures and service offerings are susceptible to fluctuations in supplier pricing and equipment availability.

Customer Preferences and Expectations: It is crucial to comprehend client preferences when it comes to entertainment experiences. This involves providing a safe, entertaining, and interactive setting, as well as a range of axe throwing activities to suit varying skill levels.

Social and Community Engagement: You may boost your company’s image by becoming involved in local activities and creating a friendly environment. Another way to get more people to come out is to host charity evenings or unique events.

Workforce Skills and Training: It is critical to hire passionate and educated workers and provide them comprehensive training in safety and operating procedures. The quality of service and the security of operations are both improved by a competent staff.

Financials

Investment & Capital Expenditure

Screenshot 2023 12 28 at 12.52.30 PM

Revenue Summary

Screenshot 2023 12 28 at 12.52.50 PM

Cost of Goods Sold Summary

Screenshot 2023 12 28 at 12.53.01 PM

OpEX Summary

Screenshot 2023 12 28 at 12.53.11 PM

Income Statement

Screenshot 2023 12 28 at 12.53.28 PM

Cash Flow Statement

Screenshot 2023 12 28 at 12.53.57 PM

Balance Sheet

Screenshot 2023 12 28 at 12.54.16 PM

Related Articles on Business Plan:

Acupuncture Business Plan

Wellness Business Plan

Medical Spa Business Plan

Perfume Business Plan

Box Truck Business Plan

Dialysis Center Business Plan

Laundromat Business Plan