Thank you for using the FEC Network. If you have any questions please feel free to call on us.

Now that you are working on your business plan, start building some point rewards towards future amusement product and service purchases. If you haven't yet - make sure you come by and register with the Fun Center Directory and start earning points by participating in our forums, surveys, web polls and treasure hunts.

Points Reward Program

The forums are a great place to further your research, interact with other developers and operators and get your amusement equipment, design and construction questions addressed by industry professionals.

Family Fun Center Forums

Members Library : Startup Academy

The Startup Academy Members Library has a wealth of great content for both new, inexperienced developers, and those developers that are well into completing their business plans, or currently seeking a location and/or funding partners.

The content is available exclusively to our monthly subscribers and is updated every week. There are no restrictions once you become a subscriber - you can access the content at any time, from any computer.

We also offer a weekly webcast where you can ask and have your questions answered by industry professionals and existing fun center operators. If you enroll in our Developers Package, then in addition to all of the business planning support you also have access to our fun center mentors.

Requirements: In order to listen to the podcasts and view the video webcasts you will need flash installed, it's safe, easy and free here.

Video Webcast: November 18th

On This Episode of the Video Webcast:

In this 15 minute interview, we had a chance to sit and speak with Jennifer Eide regarding her family entertainment centers and the role of management software in her daily operations and facility / member marketing.

Fun Center Podcast : Episode 14

This Week on Startup Academy:

We speak with Troy Svaboda of the Playground in Louisville, Kentucky. Part one of a 4 part interview:

** PLEASE NOTE:  Since this recording - the business has been closed for personal reasons beyond our control **

Fun Center Podcat : Episode 05

This Week on Startup Academy:

We speak with an academy member about her current project plan and answer her questions regarding facility size, structure, activity mix and a whole lot more. Episode One of three:

Are you an entrepreneur?

Take a moment to review this document and find out if you've got what it takes to move from dream to reality.

Is Entrepreneurship For You?
There is no way to eliminate all the risks associated with starting a small business. However, you can improve your chances of success with good planning and preparation. A good starting place is to evaluate your strengths and weaknesses as the owner and manager of a small business. Carefully consider each of the following questions.

Are you a self-­starter?
It will be up to you - not someone else telling you ­ to develop projects, organize your time and follow through on details.

How well do you get along with different personalities?
Business owners need to develop working relationships with a variety of people including customers, vendors, staff, bankers and professionals such as lawyers, accountants or consultants. Can you deal with a demanding client, an unreliable vendor or cranky staff person in the best interest of your business?

Read more...

Finding your Focus

How do you picture your center? What will you do different? What will be the focus? If you have not done so, write out the focus of your center. Will it be for a certain age group only, or appeal to a broad range? Will parties be the main draw or open play? Will you have a jump area or several? Laser tag and arcade games? An indoor play structure maybe? What about go-karts and other big ticket items? Will you serve food? Will you have redemption games and a merchandise counter? How do you picture the party area? What days/hours will you be open? Who will your center appeal to?

Differentiate or Die

The key to any business is finding the niche for your region, your project. Some services sell better than others in different regions and within different target age groups. What does this mean? Well if your center is in a largely populated area, open play may make more money than parties. You will need to adapt your services once you open, if you discover customers needs not being met.

Put all your thoughts in writing. Put thought into what you have learned about your region and how families in your region behave. All of this provides the focus that will help you write a strong business plan.

When I was running the laser tag center the information below made up the focus of the center and how we thought about our services. We added services, removed services, tweaked hours, and were always asking our customers for feedback on what appeals to them.

In the laser tag business, we made the most profit on these services (in order)

1. Private parties. A totally private laser tag arena & cake room for parties. We offered exclusive group usage and rates that also appealed to corporate companies looking to blow off some steam or host an off-site meeting. Always charge a deposit. This provides daily cash flow & prevents no shows.

Read more...

Writing your executive summary for funding

A good executive summary is hard to write. It should present your entire business plan in miniature.

There's no one right way to go about writing a plan. One of the most effective approaches I've discovered is to begin by writing an executive summary.

Certainly the most significant part of any business plan is its executive summary. So vital is a good executive summary to a business plan that I'm tempted to wax eloquent about its literary merit.

What is an executive summary? Probably the best way to begin defining it is to explain what it isn't.

The executive summary is not an abstract of the business plan.

The executive summary is not an introduction to the business plan.

The executive summary is not a preface.

The executive summary is not a random collection of highlights.

Rather, the executive summary is the business plan in miniature. The executive summary should stand alone, almost as a kind of business plan within the business plan. It should be logical, clear, interesting -- and exciting. A reader should be able to read through it in four or five minutes and understand what makes your business tick. After reading your executive summary, a reader should be prompted to say, "So that's what those people are up to."

Read more...