Investing in business
If you are planning to start a business post 2020 then you must also consider Covid-19. The pandemic has drastically changed the way people purchase and consume services and products. Words and phrases like socially distanced, masks required, check in app and vaccination status are common place these days. So this has increased and decreased the popularity of various business investment ideas. Whatever business you decide to invest in, an online presence is a must.
Business Investment Ideas – What about mini-golf?
Mini golf courses are outside but usually sheltered from the weather. This makes it safer for people to engage in activities and easier to socially distance themselves from one another. Generally, masks are not required to be worn in outside areas. As most mini-golf venues have one entrance only (usually through an arcade or shop), this makes the check-in process easier to manage.
Success in your business
To achieve success in your business you should:
- Conduct a feasibility study
- Understand your chosen niche
- Draw up a business plan in detail
- Name your business and register the name, also get an ABN for your business
- Apply for licenses and permits that may be required
- Start a bank account for the business
- Raise the needed capital
- Select the location and organise to lease or build
- Find suppliers and merchandise
- Hire employees
- Continuously learn about your chosen niche and sport
- Start a website blog
- Join and participate in sport events
- Establish networks with influential people
- Promote and market your business, both in person and online
Why invest in a Mini Golf business?Businesses to do with golf are popular. In the United States, the mini golf business is valued at more than $1 billion per annum.Regardless of gender, age, or culture mini golf is a social activity that everyone can participate in. It is a global success story. Mini golf provides family entertainment and it can be a very profitable all-weather business. To make your mini golf business a huge success you need the right location, awesome landscaping, and a great theme.
Capital will be needed to purchase the land to construct your mini golf business. A decent mini golf course can be built on as little as 3/4 acre of land. Mini-golf businesses have good profitability and offer fast recuperation of start-up costs. The mini golf type of business generally shows immediate and strong investment returns due to popularity, profitability, and additional streams of income.
Your mini golf business should be profitable if you have a good solid business plan and include the addition of other features to attract more customers. Consider the addition of:
- food and beverages
- professional instruction for golf swing
- a virtual golf drive range
- game arcade
- online presence to book games and buy merchandise and gift vouchers
- Souvenirs and merchandise for sale
- A glow-in-the-dark mini golf course to allow for nighttime games
Contact Mini Golf Creations, we would love to discuss the possibility of you having your own mini golf business.