In this article, l will be enlightening you about how roller skating rinks profitable, business investment as well and also considered a great way of passing time.
Let’s take a look at it.
Interestingly, roller skating rinks had been an integral part of childhood in the late ’70s, ’80s, and even ’90s. Then you would look forward to and anticipate an exciting feeling towards the weekend as you would socially participate in roller rinks and spend some time with friends and family.
Contemporarily, roller skating rinks have not recaptured the hearts and minds of children, teenagers, and even adults as in those good days. Although today, roller skating rinks can offer a safer and more exciting environment for all passionate about it.
However, so many entrepreneurs who love skating are now on the verge of recapturing the heart of society as they bring back roller skating rinks since they are profitable indoor games. Perchance, investors would establish more roller skating rinks for profit-making. But how could roller skating rinks be, in any case?
Notwithstanding, this informative article will bring to lamplight the following contents;
What type of business is a skating rink, is a roller skating rink a good investment, are roller skating rinks profitable, how much does a roller skating rink floor cost, what cost of opening a roller skating rink, and more?
Let’s get started without much ado!
What Type Of Business Is A Skating Rink?
A skating rink business is usually a family and youth-oriented business. However, the skating rink is invariably a less sport-oriented business geared toward recreational skaters and not a competitive sports game.
So far, the roller skating rink business so much attracted many people (customers) who may have never tried skating when it is properly equipped and organized.
Is A Roller Skating Rink A Good Investment?
Yes, of course! If it is appropriately managed with the right strategies and policies to enhance the business’s profitability.
In addition, making a roller skating rink, a good investment, requires you to earn at least $1,170 daily.
Though to achieve this, some policies and strategies listed below are crucial for making money;
- Entry fees are the most significant source of income for your business. In as much, admission fees must be made compulsory.
- Renting of skate – This should be mandatory for both beginners and professional skaters not to bring their skates to your rink. Then you would offer skate rental for $8 to $10, which is an additional profit for your business.
- Birthday parties – you could also offer birthday services to people willing to sport and celebrate their special days in a rink.
- Video games – the addition of arcade games will bring about many dollars if you have enough space, to mention a few.
Pros And Cons Of Running A Roller Skating Rink Business?
As a roller skating rink owner or manager, you should understand your business’s pros and cons to satisfy your customer’s needs. Perchance below are the pros and cons of the roller skating rink business:
- Easy to learn about the business
If you intend to start this business, there is a ton of information accessible to you online.
Online platforms like Facebook, YouTube videos, and many more could clear answers to doubts or questions, and you are good to go with your business.
- Never a dull moment
The roller skating rink business allows you to meet and interact with interesting people from different spheres of life.
Indeed, it is never a dull moment, however!
- Daily physical activity
This business’s degree of involvement and movement is more significant than in other lines of work.
Although, most days you could spend your time running, walking for your business as you perform many tasks. So far, this can be positive since it improves your energy levels and enhances your overall health.
- Amazing discounts and perks
As you purchase products and services from the industry, you will also enjoy perks and discounts from such products/services.
- Location is everything.
Choosing a high-traffic area for a roller skating rink business is crucial to arouse and spark curiosity and get customers into your door. Hence, location majorly serves as a marketing tool.
- Crowded space.
Without mixing words, competition is high in the business of roller skating rinks. So, you have to acquire an outstanding amount of time to study, analyze and understand where the demand is situated.
- The motivation of employees?
To have a compact and content team of employees in a roller skating rink business, you should be able to motivate, offer great incentives, and create an excellent atmosphere to enable them to deliver effectively and efficiently.
Self-employment taxes can be very high. Hence, it is necessary to study what you intend to pay in taxes yearly before venturing into the roller skating rink business.
- Overhead expenses
Overhead expenses are also problematic as they come with selling some physical products. Hence, to succeed, you would have to set strategies for your budgets to solve the problems of overhead costs.
Are Roller Skating Rinks Profitable?
Invariably, the advancement in technology and sport has made roller skating rinks less exciting and widespread compared to the late 20th century.
Perchance has made roller skating rinks challenging for entrepreneurs and investors to make a good profit out of these investments. Although the most challenging factor is the high cost of setting up the rinks, eventually, if you set it up, the maintenance cost would be massive.
In the same vein, a turnout of skaters at the rinks is also an issue that should consider. So, investors should go for ways of making and integrating some exciting activities like skating derbies or even hockey classes to keep the weekends busy.
Without mixing words, to maximize profit in roller rinks, as an investor or entrepreneur, you must be conversant with numbers and create different policies and strategies to increase profitability in this business.
Notwithstanding, below are some tips that will enhance your profit level if you don’t only consider your rink to offer skating but see and place it as a recreational center;
- Sell beverages and food.
- Do you offer exercise classes that could integrate skating?
- Have arcade games for teens and children
- Often host roller derby events
- Sell skates and offer skating classes
- Target sports like hockey teams
- Focus on making your recreational center perfect for a specific demographic/audience.
How Much Does A Roller Skating Rink Floor Cost?
The cost of a roller skating rink floor could range from $750 000 to $1 million depending on the shipping rates, quality of materials used, and installation cost.
Although, seasoned skaters wouldn’t appreciate hard or concrete floor since it has less grip when compared to other materials.
Here are two types of roller skating rink floors;
- Wooden floor and
- Concrete or cement floor.
How Much Is Roller Skating Per Person?
The cost of roller staking per person or individual is between $7 to $11 for 3-4 hours. Although, this cost depends on the individual’s exclusive needs. So far, significant revenues are generated from larger parties as these parties rent the entire rinks at a minimum price of $350.
Similarly, when the rink is between parties, ten customers could pay $150 and an additional fee for each customer. However, you will want to consider your expenses and objectives as you structure your payments.
Cost Of Opening A Roller Skating Rink?
Most investors or entrepreneurs might have difficulty getting capital to start a roller skating rink. Notwithstanding, the cost to start up or open any business of your choice depends on the location. Although if it is real estate, you might end up spending higher.
Perchance you want to purchase an existing skating rink or are willing to build your own. Possibly, you spend about $1 to $4 million on the property and business. This cost excludes renovation, health insurance, and state authority licensing fees, as you could spend more than $30,000 to put the rink in a standard condition.
In order words, the below is an anticipated expense you would need to consider while planning to open a skating rink;
- Brochures – $1,000
- Insurance – $2,000
- Website – $1,500
- Legal – $1,500
- Stationary – $500
- Equipment – $8000
- Rent (if necessary) – $4,000
- Consultants – $2,000
- Renovation – $9,500
It would be necessary and cost-saving if you own a parking lot.
Perhaps the parking lot should be twice the size of the rink as much could be better located in a highly populated environment to enable people to access nearby facilities.
Additionally, it would be preferred if you installed a cement (concrete) floor rather than a wooden one since its cost is cheaper than the wooden one. Similarly, it is easier to do spins and powers on the concrete floor, but it has less grip when skating. In contrast, the wooden floor is costly and holds more grip than the concrete.
Average Skating Rink Cost To Get In?
On average, the cost of a skating rink is about $5. Do have it at heart that the price may differ depending on the location of the roller skating rink.
It is indispensable that starting and managing roller skating rinks can be challenging, unlike a typical business, since there are multiple issues that you would solve before making a decent profit, as could be competitors around.
Indeed, making a profit in this business with various good policies and strategies is on a long-term basis and not within the range of 1-2 years interval.
Hence, it will be wise of you to study the following facts to succeed in the roller skating rinks business.
Properly clean your facilities daily, have a standard and comprehensive set of regulations as you enforce them, spend 8 to 10 hours weekly practicing preventive maintenance, and make the front of your business attractive.
So far, I have informed and educated you on roller skating rinks’ pros and cons and strategies to maximize profit from this business. Do like and share this article with others!