Nick Van Winter
The franchise I chose to talk about is Monster Mini Golf. The franchise is designed to help people start up their own with an initial investment of around $200,000 but that includes access to everything that will help your branch to succeed. These are things such as management training, access to all their artists and contractors for course development, staff training, and on-site assistance. The franchise gives many ideas for what to do to build your center and to generate extra revenue. These are things such as gift shops, private function rooms, arcades, and other things besides mini golf that help generate a good amount of extra revenue. I have never made any studies to determine how good my market will be but seeing as all ages can enjoy a good game of mini golf, I feel as though the better research would be to search how many mini golf places are in the area and also find out whether there is more children in the area or elderly couples because children are more likely to want to mini golf. I also would want to build my own building so that I can make it how I want it with everything that I want to include in it. This would include everything such as the private event room and a large arcade, I would also want to include a laser tag area because I feel like if you include a place where parents can take their kids on a Saturday or a Sunday and their kids will not get tired of it and they can spend the day and have fun than they will be willing to spend the money and that’s where you can make the biggest profit. I also know that if you include some things that would entice older kids than they will resort to their childhoods and spend money on little things, all of this would only make the revenue increase. I would need to do extensive research into the population of the area I am looking to build in and seeing how it is trending. I did not get all the information that I was looking for from the article but I could definitely find more at the Monster Golf website.
Hey Nick great blog post it was very thoughtful. I think this franchise would be a great idea just because of the fact that all the resources needed to succeed are at your disposal with your initial investment of $200,000. I also was interested that you would build your building rather than buy an existing one to make it more personally yours. Fun activities like these are also great ways for families to spend money on and would definately bring in a steady stream of revenue and profit like you said. Good job and see u in class.
ReplyDelete