Startup costs for an axe throwing business range depending on lots of options. Start by deciding how big you want to build. Successful businesses have 8 targets, and some have 18 targets or more. One just started a 26 axe target facility.
You’ll need axe throwing lanes, targets, a bar, custom lighting, nice woods and finish out. Costs range from $110,000 to $170,000 or more. Rent costs vary greatly by region and location. A lease in Manhattan could cost over $80,000/month. Meanwhile, a storefront lease in Florida or Tennessee could cost under $1,000/month.
You can charge about $30 per person per hour. Additional revenue comes from alcohol and food sales. To start an axe throwing business, get your costing and economic analysis right if you want to generate a profit. Examine place, property, pricing, and promotion.
Crafting a Business Plan
Put together a business plan covering location, activities offered, and staff and equipment needed. Develop a budget covering all necessary costs. Know how to throw an axe and have a good business sense and deep understanding of the gaming and entertainment industries.
Understanding Costs and Space Requirements
An indoor axe throwing business needs at least 1,000 square feet, with rent around $1,500 per month. An outdoor business needs adequate space for targets and lighting, with rent around $500 per month. You’ll also need axes, targets, and safety equipment. Basic costs are normally around $6,500.
Setting Up Your Business
Follow these ten steps:
- Make a business plan.
- Determine expenses.
- Research the industry.
- Expand your knowledge.
- Choose a location.
- Decide what type of business.
- Choose a name.
- Legalize your business.
- Get insurance.
- Hire staff.