Thinking of Starting Your Own Business?
Are you looking for a low cost start-up business you can run from home. Just to get some perspective, it may be low cost but it’s not No COST. You will need to invest some money and also have determination and a lot of blood sweat and tears, BUT persistence will pay off.
The world is changing and many established, good businesses, in recognised industries have faced massive financial challenges and setbacks having to down-size and shed staff just to survive. With many sectors being completely devastated. But its not all doom and gloom. Out of adversity will come opportunity.
When looking at business opportunities you need to think about what you want your business to look like.
1. How much time and effort do you want to put into it?
2. Do I want to invest in buying or renting premises?
3. How will it fit the “new normal life”?
4. Do you want the business just to support you initially and be scalable?
5. How will it operate if COVID continues to be a threat?
6. Do you have the skills to operate your own business?
These are just some of the questions you should answer before spending 1p of your money. You should also think about what knowledge / life experiences / hobbies you have.
Red Frog Archery was born out of a hobby. After taking up archery as an escape from work, not only did I enjoy the sport but realised that there was only one supplier of equipment in Scotland and they were on the verge of retiring. Yes, there were several large established archery retailers in England but that is a long way to travel just to get advice and physically see the product. Since starting in 2012 I went through a few stages to reach where I am now with a display area, storeroom and packing area and a 10m training range, turning over £300K per annum from a micro business which employs just 2 people.
In the last two years I recognised another, more lucrative market of “archery tag” and quickly established international contacts with suppliers of equipment to build a total package for organisations and companies to offer this fast-paced exciting sport.
Fundamentally archery tag is not a complicated business, most good ideas are the simple ones. Just to clarify. Archery Tag is the name of a franchise business, which has become the generic term for this activity like “Hoover” for a vacuum cleaner. So, when discussing “archery tag” I ‘m not referring to this established franchise business. So, I will call it Archery Rampage.
So why would you consider setting up your own business from scratch as opposed to a franchise?
Franchise businesses must show they are profitable with an established trading history and have a proven business plan and on-going support for franchisees. This works well for companies like McDonalds, Burger King etc, where a huge investment by you will buy a franchise and almost guarantee a profitable business. But on the flip side there is no room for any deviation from the company structure, you are fundamentally working for them and having to buy all your supplies, buildings, marketing, etc from them as well as pay an annual percentage of your profits to the main company. if this drops too low for them you can lose your franchise as well as any other number of reasons. So are you really your own boss?
On the flip side you can start your own business from scratch using your own experience and contacts and not having to invest so much money initially taking things at your own pace and comfort level, this can be a slow burn.
Archery Rampage sits somewhere in the middle. We have developed a package which allows you to hold Archery Rampage events. We don’t expect you to pay franchise fees or a percentage of profits, just buy the equipment and any replacements or spares you require from us. However, we can provide additional support for you with the many questions you will have, in relation to safety, how to run the games, ideas about setting up local league, etc. We have done all the research so you don’t have to.
Archery Rampage can combine several different aspects to cater to different markets.
· Corporate - Companies are looking for different ways to team build, which caters to large groups. Archery Rampage can be played by groups of 6 -60 with a 20 person kit using a round robin structure to create a league for 3-10 teams. The benefits for team building are many and varied. They can include strategic thinking, man management and goal achievement
· Events - As a stand-alone. Set up a local league where participants compose their own teams and play at frequent times across the year to earn "ranking". This increases revenue per head and in many respects will be self-perpetuating if run correctly.
· Adventure Centers - If you run a multi events outdoor or indoor center, add Archery Rampage to your list of activities, its ideal to cater to larger groups, increasing footfall and revenue and encouraging previous customers to return to your venue
· Children's Entertainment - If you already have a business hiring out bouncy castles, etc you can extend your business reach to youths and adults. Consider adding a Hover Ball range for younger children or as and additional complement to Archery Rampage
· Indoor Activity Centers - Trampoline Centers, Laser Quest, Paint Ball outlets could benefit from adding Battle Archery to their venue and in many cases appealing to new markets especially among the 25-40 age group who are less likely to participate in the former activities.
· Event Hire - Birthday parties hen & stag do's, youth groups local seasonal fares or even weddings present opportunities to hire out Battle Archery equipment
To answer the initial questions I set
1. How much time and effort do you want to put into it? You could start this part time or go full time straight away
2. Do I want to invest in buying or renting premises? This is not something you would have to consider initially. Archery Rampage can be mobile and played indoors or out depending on circumstances, just rent venues as required
3. How will it fit the “new normal life”? Set venues to comply with current restrictions, by not being tied to your own premises, any restrictions can be overcome.
4. Do you want the business just to support you initially and be scalable? Start small with a minimum investment in a 16-player kit and build from there
5. How will it operate if COVID continues to be a threat? Flexibility in numbers and venues will minimise business interruption
6. Do you have the skills to operate your own business? Only you can answer this question BUT I am here to help in any way that I can.
Visit our website www.archeryrampage.com for much more information