Here, we’ve provided you with an escape room business plan template to work with.
If you’re fascinated with puzzle-oriented businesses, you might find opening an escape room business interesting. While an escape room business is quite interesting and a viable idea, more work is needed than you think.
This mostly applies to entertainment startup ideas.
The importance of a well-written business plan can never be overstated. To achieve that, you’ll need to follow a detailed and systematic process as outlined here.
Also, be ready to put in the work as a hurried job will only result in a shabby plan
ESCAPE ROOM BUSINESS PLAN SAMPLE
Your journey should begin with identifying all the main sections of your escape room business plan. Each of these points contains further details that touch on various aspects of your operation.
Such sections include the executive summary, as well as the company description.
Others are the products & services section, market analysis, strategy & implementation, organization & management team, as well as the financial plan & projections sections.
To have a better grasp of what they entail, we’ll need to take a look at each of them as follows.
i. Executive Summary
Here, the name alone speaks volumes. The executive summary is a brief introduction of your business plan that describes the business.
Part of its description includes the provision of basic information about vital areas such as the target market, problem solved as well as financial highlights.
Other sections crucial to a well-written executive summary include the business name and location, products & services offered, mission & vision statements as well as the purpose of your plan.
These go a long way to help you adequately introduce your business while summarizing the plan.
Business Name & Location
A comprehensive way to introduce your escape room business will be to begin by stating its name. With this done, you’ll also need to provide information on where it will be located.
This is central to business growth and development.
When strategically located, your escape room business performs excellently in terms of sales. This is a crucial inclusion that mustn’t be left out.
Products & Services
Is your escape room business solely service-based or are there related products on sale?
Whatever the case may be, it’s important to have your services clearly stated. Remember this should be brief enough to ensure you don’t lengthen the executive summary section.
Mission & Vision Statements
The mission and vision statements seek to give clarity to where your escape room business is headed. By merely reading such short statements, an investor can know if your business idea has a real shot at growth or not.
The mission statement should be able to succinctly describe the importance of your goals as well as the underlying philosophies. With the vision statement, you’re seeking to identify the ultimate goal of your escape room business.
Simply put, it gives purpose to your escape room business idea.
Specific Purpose of your Plan
There are several reasons for writing a business plan. However, the specific purpose of your escape room business plan should be stated.
In most cases, the business plan may either be written to help secure investments or for setting growth strategies in place. Both of these or just one could be the reason why the plan is written.
ii. Company Description
True to its name, the company or business description section seeks to give a broader understanding of your entire operations. This should include details about the legal structure adopted as well as a brief history of your operations as a business.
Clearly state the nature of your business operations in addition to customer needs to be met. Here, key players and the roles played will need to be added. Such key players include your customers and suppliers.
Have a summary of business growth added to the company description section.
You’ll need to provide financial and market highlights relating to the growth of your escape room business Be careful not to leave out details about your short and long-term goals.
iii. Products & Services
Under the products & services section is a much detailed description of what’s on offer. Of what benefit is an escape room business to the client? The need to recreate is one of the major benefits.
Include such and other client benefits. Also, state the market role of your products.
There’ll be other competitors offering similar services. How do your services measure up and what are the clear advantages it has over those? Are you researching on improving your service offerings and delivery?
Include such information as well.
iv. Market Analysis
This is where you demonstrate your knowledge about the escape room business sector. The only way to do a good job here is by carrying out detailed research.
Areas to be included here are a sketch of the target customer segment, industry outlook, and description as well as the historical, current, and projected marketing information.
There needs to be an assessment of the strengths and weaknesses of your competitors. The reason is simple, to identify areas of competitive advantages.
v. Strategy & Implementation
There needs to be a well-thought-out marketing and implementation strategy in place. Such information helps with business promotion and working out crucial details relating to pricing, costs, promotions, and distribution.
What are your typical operational hours?
vi. Organization & Management Team
The organizational structure of your escape room business is under focus here. Details on all the key players are provided beginning with an organizational chart.
A description of key employees and departments headed by them is important.
The owner(s) of the escape room business also need to be identified. Here, their names, percentage ownership, and level of involvement matter. Have a profile of your management team included.
vii. Financial Plan & Projections
This is where the financial details regarding your escape room business are supplied. Without the help of a financial expert, your chances of doing a good job here are limited.
The main areas focused on include the historical financial data, realistic prospective financial information as well as a brief analysis of your financial data.
When completed, you have a sound and implementable escape room business plan. Your business idea has a high chance of succeeding than one without a plan or with a badly written business plan.