How To Start An Escape Room Business – Owning your own business can be challenging, but entrepreneurs can get much-needed support by joining an approved company to open a franchise. It includes a variety of perks, from start-up support to employee training and marketing.
The escape room business is in an amazing phase right now for new ventures, and PanIQ Room is one of the most established and popular franchises, and they’re still going strong. Even if you’ve franchised or owned your own business before, it’s natural to ask questions. Some of the most common issues are process related. What would such a program look like if I decided to franchise with PanIQ Room?
How To Start An Escape Room Business
This first step in the process really sets the tone for everything that follows. The franchisee (i.e. you) and the franchisor (i.e. PanIQ) introduce themselves and start talking about their motivations and what they do as entrepreneurs. The two parties began to discuss the basic conditions of cooperation, which is the mutual commitment to the success of the entire project. PanIQ can also begin fundraising by identifying a venue size, room theme and proposed budget to help define project scope.
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This is the most important part of this step, as you need to complete financing before you can be considered for Step 2. This can be in the form of personal money, outside investors or loans, but you should have a clear picture of how everything will work before you commit. PanIQ has partnered with financial advisor FranFund to help franchisees obtain low-interest loans for small businesses. Meanwhile, PanIQ helped finalize the overall business plan and complete the loan application.
Sometimes the PanIQ room already has the location and site memorized and you’re good to go. Sometimes you have a perfect website before the ink is dry on your loan application. But if you need to find spaces out of thin air, PanIQ can help. We’ve been in the entertainment industry for a long time and have some helpful tips to help you on your hunt.
You should hire a local real estate agent to help you find a place, but you should get to know them to see how suitable they are. Based on the scope and vision of your project, PanIQ will create a floor plan to determine if it is the ideal space for a rescue room. Additionally, we help negotiate lease agreements with tenants. We are very aware of potential negotiating points so we can really maximize your options when it comes to leasing. Landlords, on the other hand, like to work with franchise brands, and with a successful brand like PanIQ Room, you can get a better deal in the long run.
Once you’ve locked in your home and signed your lease, you’ll need to get a quote and choose a liability insurance company for your business. Then go to step 3.
Escape Room Business Names
A castle is only as strong as its foundations, and the same goes for an escape room. This is where you spend a lot of time, so it’s cheaper and often better to build. It’s a creative process, so you have to put in a lot of effort before sacrificing quality. The more unique your idea for an escape room, the more successful you will be, so take the time to come up with a great plan here.
Once you’ve signed your lease, PanIQ Room will begin putting together your construction manual, which includes everything you need to know about your project so your general contractor can easily price your project. You’ll get detailed documentation on the actual room layout, camera placement, what the hall will look like, what kind of flooring will be installed, and more. It will take 4-6 weeks to complete this manual.
From there, your local architect is responsible for finalizing the floor plan. Local regulations may vary slightly, so it’s important to have a local expert help with the details. Also, if they know the terrain well enough, they can expedite some of the permitting processes so construction can begin quickly. They will submit your plans to local authorities and help you obtain these licences.
Also note that this is also the puzzle and prop building phase. PanIQ has its own facilities to create these elements and contracts with other world leaders in escape room design guided this part of the project. The sooner we start construction, the sooner we can deliver and meet project deadlines. Of course, this depends on the individual project, but products can be shipped to your door by air or sea.
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PanIQ’s Construction Guidelines are the general contractor’s materials and construction guidelines. Building an escape room is relatively straightforward and usually involves framing, paneling, electrical, plumbing, and mechanical work. The point of this step is to create the skeleton so that we can later flesh out the details according to the theme of the room. Speaking of which, it’s also started shipping puzzle elements from Europe so they arrive in time…
Things get really interesting when we start decorating spaces and turning ordinary rooms into something spectacular. You could hire a local contractor to do this, but you’ll be glad to know that PanIQ Room has an experienced team that can come and do it for you. Regardless of who created and installed all the elements of the puzzle/theme, our project management team oversees the entire process and ensures that all playrooms are installed correctly to provide a positive and memorable experience for guests.
At this stage, we will also begin to make final changes in other areas such as purchasing lobby furniture, tidying up boardrooms and equipping other common areas according to your business plan. Decorate the space and make it look stunning.
PanIQ Room organizes pre-opening training for you and your employees at your facility. It contains everything needed for successful discovery. We showcase various PanIQ game creations and special tools such as kiosks, media walls, backend systems, and more. We guide you with all operating procedures/protocols as well as maintenance recommendations and schedules. We provide tips on handling customer service related issues, answering the most frequently asked questions from our visitors, and using social media and other marketing tools. We can even help your company find professional, highly qualified personnel if needed.
Escape Room Business Plan Template & Forecasting Tool
Once you’ve done this, you can offer your clients an incredible team-building, fun, and puzzle-solving experience. But that doesn’t mean you’re completely alone. We will continue to stay in touch, offering advice where necessary and providing support where necessary. We also provide marketing materials during your time with PanIQ and promote your business through the best internet channels. While this might seem like a pretty simple venture, starting a brand new escape room business can be profitable. This is a daunting task even for seasoned entrepreneurs.
First, you should know that, like most businesses, there are many steps to take, and many obstacles along the way that can slow down your efforts. Unfortunately, like opening your first retail store, there is no magic bullet that will help you do this. Also, new escape room concepts are different from those on the market, so you need to have a specific strategy to follow to start a successful escape room business.
However, we’ve closely watched thousands of escape rooms open and develop into lucrative and thriving businesses, so we’ve learned a little bit about how your adventures will begin. Listed below are top tips for escape room owners.
As the great Dwight D. Eisenhower said, plans are worthless, but planning is! Yes, you know your current priorities
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