How will the Location Based Entertainment industry look like in a post-pandemic world? Nobody has that figured out, especially that every country or region experiences the situation differently. So Stefan from Inowize VR, and Grant from Zone Laser Tag, sat down to talk about how the NZ entertainment market dealt with, and has rebounded from the COVID pandemic.
The reason New Zealand was in the focus, is not only because Grant runs several of his own entertainment centres in NZ, giving him hands on experience from there adaption strategies. It's also because New Zealand's swift government response has allowed New Zealand to be the first Covid free country, so hopefully can be an indication of what's to come for the rest of the world as we get the pandemic under control.
Watch the interview above, or read it below.
What would be your advice for the FEC Operators in the corners of the world?
If you don’t have integrated online/Booking/POS software get some. Particularly one that allows for both giftcards, and recurring bookings that are both In my mind essential to grow your site. We use Roller POS at my own locations. This is very cheap to add and makes a real difference in terms of future profitability, as they work they also build a big customer database up to market too which has helped us a lot.
Then, if you don’t have a Laser Tag, add it, as it’s a great supporting attraction to others, Zone and I think some others would too offer strong leasing offers if you can’t spend the capital now .
Or if there is not a good game store right next to you, I would suggest add those two. Retail game store has quickly became an essential part of our business, with nearly 45% of gross revenue coming from it, sure it doesn’t have the same profit margin as there is a cost of sale per good, but still makes us a lot more than not having it!
But most of all, Just don't give up. What you, and we all do for our community is important. I think more than ever people have been shown the value of having a place you can gather with your family and friends and just relax. So keep your site open, sure it may not be the best right now, but when it’s over your community will thank you from there hearts, and wallets.