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The Play Industry: The Next Frontier
The industry is at a point of change, some of the older models are struggling to compete with the new breed of operators who have lifted the quality of the product and service on offer.
There is a huge education process required to develop customers understanding of the value offered by this new product.
Without this understanding the industry will find it a challenge to drive the pricing levels to a point where they give a worthwhile return on investment.
This has coincided with the creation of the Play Providers Association (PPA), which allows operators who take high standards of operation and service consistency seriously, to differentiate themselves from other operators and drive the industry forward.
The play industry mirrors what the health club industry experienced a decade ago, and moreover what Chuck E’ Cheese in the USA experienced: very rapid growth followed by bankruptcy, then a re launch to a model that worked and that they faithfully stuck to. What’s happening now is a sort of “rightsizing” where operators are seeking to hone their target market and to create the ideal footprint for their operations for expansion and future consolidation.
What the successful centers are finding is that a basic requirement for sustainability is first and foremost down to the quality of location. Although play centers cannot afford high rents, they are no longer being seen as space fillers in retail property schemes but recent new models have proven to add attraction, footfall and dwell time completing a scheme's offering, landlords should be considering this when setting rental prices.
This must be backed up by management with solid experience in either play or leisure, sophisticated CRM systems, well trained staff with a customer focused mindset and good financial management systems. Add in a high quality broad product, clean and safe facilities, a quality food & beverage offer and you are almost there.
The market for this product is clearly there, so watch this space!!
Iain Westwater
Managing Director Gambado Ltd.
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