Starting an axe throwing business can be a fun and unique way to turn your passion for axe throwing business into a profitable investment. Before you launch your business, there are several important steps you need to follow to ensure axe throwing business is profitable.
In this article, we will guide you through Top 10 important steps you need to follow to start your axe throwing business. Also, we will discuss how to throw an axe for beginners and the total cost to start an axe throwing business.
Axe Throwing Business Overview
Axe throwing businesses have gained popularity in recent years with many entrepreneurs looking to tap into this trend. Starting an axe throwing business requires careful planning, research and understanding of the industry.
Axe throwing business is an entertainment concept where customers pay to throw axes at targets in a controlled environment. Customers are given a brief instruction on how to throw the axes safely before they start.
The business model can be either stationary with a fixed location for customers to visit or mobile, where the business travels to different locations to provide axe throwing services.
The business can generate revenue through booking fees, event rentals, merchandise sales, food and beverage services, depending on the business model.
Start an axe throwing business by following these 10 steps
Starting an axe throwing business can be an exciting & interesting journey for entrepreneurs looking to enter the entertainment industry. To ensure success and profitable axe throwing business, it is important to follow a structure in the below approach. Here are 10 steps to starting an axe throwing business:
Plan your Axe Throwing Business
Before you start your business, you need to create a comprehensive business plan. Your axe throwing business plan should include details about your target market, competitors, marketing strategies, revenue streams and financial projections.
Form your Axe Throwing Business into a Legal Entity
You need to decide on the legal structure of your business, such as a sole proprietorship, partnership, or LLC. You will also need to register your business with your state’s business registration office.
Register your Axe Throwing Business for Taxes
You need to register your business for federal & state taxes, including income tax, sales tax and employment tax.
Open a Business Bank Account & Credit Card
You need to open a separate bank account and credit card for your business to keep your personal finances separate from your business finances.
Set up Accounting for your Axe Throwing Business
You need to set up a system to track your income and expenses. You can use accounting software or hire an accountant to help you manage your finances.
Get the Necessary Permits & Licences for your Axe Throwing Business
You will need to obtain the necessary permits and licences to operate your axe throwing business. This includes business permits, fire permits & health permits.
Get Insurance for Axe Throwing Business
You need to obtain insurance for Axe Throwing business, including general liability insurance, property insurance and worker’s compensation insurance.
Define your Axe Throwing Business Brand
Your brand is what sets you apart from your competitors. You need to define your brand, including your business name, logo and brand messaging.
Create your Axe Throwing Business Website
Your website is your digital shop for your axe throwing business. You need to create a professional website that showcases your business and attracts more customers.
Set up Mobile Axe Throwing Business
You need to set up a professional phone system for your mobile axe throwing business. This can include a dedicated phone line, voicemail and call forwarding to attend to customers.
How Much Does It Cost To Start An Axe Throwing Business?
The axe throwing business startup costs depend on the size and number of lanes. The minimum start-up cost can be as low as $12, while the maximum can be up to $37,876. On average, it costs around $19,815 to start an axe throwing business.
The construction cost of a single lane can range from $8,500 to $9,000, which includes the back wall, dividing walls, target and no-bounce border system. Additional axe throwing business startup costs for internal finish out such as bar area, tables, chairs and refrigerators, will also contribute to the overall start-up cost.
How to Throw an Axe: Advance Tips for Beginners
If you are a beginner to axe throwing, here are some advanced tips for you, how to throw an axe:
- Firstly you have to Grip the axe with both hands and keep your feet shoulder width apart.
- Focus on a specific point on the target and aim for it.
- Use a fluid motion to throw the axe on the target, keeping your arms straight.
- Practice regularly to improve technique and accuracy to hit the target.
- First time Avoid throwing the axe too hard, as it can cause the axe to bounce back towards you.
- Never throw an axe under the influence of drugs or alcohol, it can be dangerous for you.
- Always read and follow the safety rules and guidelines to throw an axe of the axe throwing facility.
Some Faqs
Who is the target market for axe throwing?
Target market for axe throwing business is normally adults aged 21 to 40, including both men and women who are looking for a fun and unique activity to do with friends or colleagues. It also appeals to individuals who enjoy unique and interesting sports and outdoor activities.
Is an axe throwing business profitable?
Yes, axe throwing business profit can be more profitable with online marketing and dedication for the business. The earning potential can vary based on the size of the business, but a small axe throwing business makes up to $100,000 in its first year, with the potential to reach between $500,000 and $1 million per year as it grows.
How much space is needed for axe throwing?
A minimum of 15 ft in length is recommended for a lane to a 12 ft fault line and safe space to throw. For Big Axe throwing, a minimum of 20 ft in length is recommended to a 15ft fault line and safe space to throw.
My Opinion about Axe Throwing Business
Starting an axe throwing business can be a rewarding and profitable venture if you follow these 10 essential steps. By talking to an axe throwing business plan, obtaining the necessary permits, licences and setting up a professional brand and website, you can attract customers and build a successful mobile axe throwing business.