Here are the 5 most important factors you have to check before taking an escape room VR franchise from a company-
The first thing that you need to have to start your escape room Illinois is a land. It is this area of land wherein your escape room franchise premises will be built.
Inside your premises, you will be having a reception area, a waiting area, a refreshment area for the customers, and the escape rooms.
For this, you need to have carefully designed the architecture of the building. No doubt that the company you are taking the franchise from will be providing the guidelines which will provide the basis of your framework.
Now the independent rules for the area of premises and other conditions might be mentioned in the escape room business plan sample provided by the franchise providing company. So grab one for yourself if you want to start checking on the eligibility criteria.
Knowing about companies that are willing to provide escape room VR franchise
This is probably the first thing that you will have to do in case you are interested to start an escape room VR franchise. There are many companies and you need to know about them in detail. Many factors come into play while obtaining a franchise from a company. The most important factors are-
Area of operation
There are many global and regional franchises that you have to consider. Certain companies provide franchises globally while others have operating partners confined to a geographical location such as a country or a state.
There is non-refundable deposit money that you will have to pay right at the beginning for obtaining the franchise of a company. An escape room Illinois franchise many cost you from a few thousand to a few hundred thousand dollars depending on the company and its reputation in the market.
What types of technology and gear do you have to install or buy?
Now we enter into the investment part. See the escape rooms are all a modern marvel based on highly innovative technology. So it is no doubt that for providing the virtual reality effects in an escape room you will have to buy lots of high-end equipment such as VR headgear, chairs, motion sensory equipment, etc.
What is the estimated cost of such equipment? Also, one major factor to ponder is whether the company will be providing the equipment or do you have to buy them. The more high-end virtual effects of a game the more complex and expensive is back end technology.
Consider the budget and the long term prospects for profit.
What are your commissions?
This is the most interesting part of a business and the ‘business end’ of business, right? The main motto for your business is to earn good revenue in the form of commissions and see your sales volume rise.
Most companies providing escape room franchises will provide you with a certain part of the entire profit per year as commissions. It could be reimbursed monthly, quarterly, and half years as well.
Higher the percentage of sales higher your commissions are.
You should check this out on the escape room business plan sample of the company from which you are interested to take a franchise.
Hiring and training staff
Once your construction work is over and your premises are open to people you need to have staff who will be welcoming people, providing refreshments, and also taking care of the technology behind the escape rooms.
Some companies provide you the option to hire the staff by yourself. In this case, you will have to look after the entire recruitment process starting from providing recruitment advertisements to interviewing people and negotiating on the salary end.
The benefit is that if you can hire workers for cheap then your part of the commission after all the deductibles will rise. So you will end up putting more money in your pocket.
But on the other hand, some companies hire and recruit their staff themselves. In such cases, you don’t have any role to play. This type of franchise model is best for those who don’t want to add up the burden of hiring and training the staff by themselves.