Axe Throwing Business Startup Cost: Analysis & Facts 2023
Axe throwing is becoming a popular activity worldwide, especially in the USA. This fact has caught the attention of many business enthusiasts seeing the potential market demand. People from all age groups participate in axe-throwing activities to spend their free time, offering entrepreneurs a big market.
Before starting a business, you must know the basics, like startup cost, market compatibility, and startup plan. So, what is the approximate axe throwing business startup cost? Many factors need to cater, like venue, equipment, labor, side offers, and marketing promotion costs.
In this article, I will help you know the estimated startup cost required for different aspects of axe-throwing business and the profit margin it can generate.
How to Open an Axe-Throwing Bar?
Axe throwing business has a potential market in the USA; why is axe throwing popular because it gains attention from all kinds of people. It makes it a good business idea. Before diving into this idea further, understanding the startup cost of launching an axe-throwing business is crucial. Let’s, check your multi-dimensional aspects of axe throwing business and their startup cost.
1. Location Cost
The right location according to the business needs is essential to attract people. In the axe-throwing business industry, a catchy site is a must. Look for a place with high foot traffic, a vibrant environment, and a suitable entertainment scene.
Leasing or purchasing a venue like this in the city or with a suitable neighborhood range from $3,000 to $15,000 per month. If you are looking for a place in main cities like Los Angeles, California, or New York, your budget must be double this.
2. Equipment Cost
It would help if you spent on high-quality equipment to gain customer attention, which is why axe-throwing bars cost so much. The available kit includes axes, targets, axe lanes, and safety gear. If your venue is strictly for adults or has separate age group booths, you will need fences and signage.
Depending on the size of your facility and the number of axe lanes/booths according to axe throwing distance, the initial investment for equipment can range from $10,000 to $25,000. Once your business grows, you can add more equipment and axe lanes depending on the customer turnout.
3. License and Permit Cost
Starting an axe-throwing business in the USA requires complying with various legal requirements and obtaining the necessary permits and licenses. It can include general business licenses, zoning permits, insurance regarding different liabilities, and health and safety regulations.
The license cost varies in different states; the approximate cost can range between $1,000 to $5,000. General permits are the cost; those licenses will also be required if you sell liquor or food in your axe-throwing establishment.
4. Engaging Atmosphere Cost
These days’ interior design plays an essential role in attracting customers for any business. Even in offices, interior design is the top priority. So, to attract customers to have an unforgettable experience, you will need to spend a decent amount on the venue’s interior design.
This includes relevant themes, lighting, costume add-up, and comfortable seating arrangement. You can opt for a wooden outlay or a classic logger theme. The cost of interior designing can range from $5,000 to $15,000, depending on the level of customization and aesthetics.
5. Marketing Cost
Whenever you open a business, you need to make it reachable to the public; that’s where marketing comes in. It would help to put aside some sum for promotional campaigns for the axe-throwing business.
Rather than traditional marketing like banners, opt for digital marketing through social media campaigns, search engine optimization, and social media sites. Preserve $5,000 to $10,000 for excellent and effective marketing and media campaigns. Look out for local social media influencers to bring attention to your axe-throwing business.
6. Staffing Cost
Running a place alone is not an option; obviously, you will need trained staff that can operate smoothly with excellent customer service. If you are well-acknowledged with axe throwing basics, estimating the staff’s training cost is also reasonable. Although the budget depends on the staff number, you will need around $3,000 to $7,000 monthly for a startup.
Is Axe Throwing Business Profitable?
Thinking about how big is the axe throwing industry? Axe throwing is a profitable and colossal industry considering its increasing demand as a fun activity. People are approaching it more. Besides axe throwing activity, you can start with different things like liquor, food, photo booths, etc. It will add up to the profit of your axe-throwing establishment.
You can also increase the profit by spending wisely on staff. Train them according to the demands of your establishment. Provide facilities like health care etc., to retain them on the job. Otherwise, you will have to spend time training them repeatedly, which will reduce the profit.
Conclusion
An axe-throwing business startup is a different and exciting idea, and now you know the axe-throwing business startup cost. Startup cost depends on location, venue size, interior design, staff, and accessories. According to the rough range and expert ideas, you will need within the $30,000 to $70,000 range. Do thorough market research, develop a comprehensive business plan and consider all the variable options to cut costs.
So, are you axe-cited for your axe-throwing business startup?
