Cleveland, OH, October 4, 2016 (Newswire.com) - A new industry has sprout in the family entertainment genre, and it is sending investors and entrepreneurs running to get a piece of this trending new industry with sustained growth projected through 2018.
Escape rooms are now for real and are being noticed by the individual entrepreneur all the way up to Wall Street investors.
Even entire industries are vying to tap into the future multi-billion dollar industry. Enter the Party and Event Entertainment Industry. Everything from bounce house rental companies to event entertainers, and even event planners are now taking advantage of the room escape craze that has hit the U.S."Low investment and high returns make it a 'no-brainer' to be one of the first to offer Escape Rooms to private parties and events."
Although Escape Rooms aren’t new, the recent surge of business openings has created a stir within the industry. Experts say that Escape Rooms are around for the long haul and believe that this is the type of entertainment people of all ages have been craving.
Darmen’s Parties, a local bounce house rental and attraction company in Cleveland, reports that over 30% of their events are now choosing an Escape Room after seeing the menu of party services to choose from. “We were looking for something to make-up for our lost revenue of bounce house during the winter months,” said John Darmen, owner. “The Escape Room did more than make up for the loss. We are now getting people calling who only found out about us because of our Escape Parties.”
“The types of entertainment is shifting,” said Paul McNess, business analyst for Jones, Smith and Henna, a private investment firm who is closely watching the growth of the industry. “Bounce house rental companies and other event entertainers are always looking for something new to offer their clients. Enter room escapes -- Low investment and high returns make it a 'no-brainer' to be one of the first to offer Escape Rooms to private parties and events.”
While the average escape room party only averages between $500 - $700, the average cost of materials to create an escape room will usually only require an investment shy of $1,000. This means that after their second event, they are already operating in the black.
The only variable that is missing is the creativity of putting together an escape room. “Not everyone can do it,” said McNess. “In fact, very few find that they can put together a quality escape room that leaves clients wanting more.”
Where there is a need, there is a company. While few exist, there are companies who design escape rooms for the entrepreneur who either lacks the creativity or just doesn’t have the time since Escape Room themes need to change at least quarterly or risk becoming stale.
Escape events are quickly growing in larger market areas with the smaller markets sure to follow suit.
Source: Party Rental Industries