Opportunity:
The people that have the need for my service
will be anyone that is looking for a good place to be entertained. They may also be looking for something more
immersive than their usual spots.
Currently this need is satisfied by various other means; going to the
movies, going to other escape room locations, and other various entertainment
establishments.
I believe that this opportunity is a big one
because it is a bit different than the other options out there. You get to be a part of the action and
excitement. It combines three different
entertainment experiences and ties them all together or you can enjoy them
separately.
It is hard to determine how long this
opportunity will be there, but I can absolutely see it still being around as
long as I am looking toward the future.
There is a place for VR in my idea and even augmented reality. These technologies need to mature a bit more,
but it is on the horizon.
Innovation:
In my opinion, innovations can be large or
small. I consider mine to be small since
I am tying a few ideas that currently exist separately together as a cohesive
experience. I believe that innovations
like this have a higher chance of success since they are smaller and easier to
keep simple and execute.
My innovation is to bring the world of Zombie
apocalypse to life. It combines laser
tag, escape rooms and a restaurant with beer and wine available together in one
location. This will be great for groups
of friends, team building for corporations or even groups of kids from college
looking to have some fun after exams.
Venture Concept:
I don't believe that my services will pull
people away from other forms of entertainment permanently. People are not going to stop going to the
movies or other escape rooms necessarily; but they will repeatedly come back to
my offering for the experience I will create.
The moment you enter the facility you will be fully immersed in the
illusion. So deeply, my goal will be
some people to start doubting their true existence outside the world I create
for them.
I don't really see packaging to be a problem
but other normal business hurdles like employee turnover, suppliers for the
restaurant and other tools that I will need for the business. I plan to at least start with a pretty flat
structure. I will not need many
mid-level managers. I anticipate one to
manage the laser tag/escape room side and one to manage the restaurant. These are two very different businesses I am
combining and require different mindsets.
At some point I would require a controller
and see myself outsourcing HR and IT needs to help keep costs on the lower
side. I would rather pay employees
better and create a better environment for them. They in turn will ensure that our customers
have the best experience possible.
Three minor elements:
I plan to create an exceptional work
environment and my people will be my advantage.
There are many case studies that support this idea and I have seen it in
action. To me this would be a large part
of my “secret sauce”. It is very hard to
replicate this because most companies are less concerned with their
employees. This trend is changing a bit,
but it is not quite there, and most business leaders still have not figure this
out.
After getting this venture up and running the
next step would be to start looking at how technology can improve the
experience for people. Like I said earlier,
I see a place for virtual reality or augmented reality in this industry. This is how we can truly create a new
experience. I can see the entire
experience being delivered via virtual reality.
That would make most of my costs be infrastructure and development. Most of those items can be wrapped up in operational
costs with cloud infrastructure preventing me from having to have a large
capital outlay to accomplish it.
I would set a goal of actually making money
from this venture after the second to third year in business. So, by year five I would have it running
smoothly and have a steady 20%-25% net profit margin. This would allow me to continue building this
or branch out to other concepts of this idea to reach other customers and their
interests.
