You will receive all the information you need to consider before starting your axe throwing business in this article.
We will start with the steps to start an axe throwing business, followed by some critical points that you will want to consider. Finally, you’ll get the resource section offering information and resources that can help you in the start-up phase and when your business is up and running.
Table of Contents
1. Research the Axe Throwing Industry
a.) An Inside Look at An Axe Throwing Business
b.) Expand Your Knowledge of the Axe Throwing Industry
c.) Choosing a Location for Your Axe Throwing Business
d.) What Type of Axe Throwing Business Will You Start?
2. Choose a Name for Your Axe Throwing Business
3. Legalizing Your Business
a.) Decide on a Legal Structure
b.) Get a Tax Id
c.) Local Permits and Regulations
4. Create Your Corporate ID
5. Estimating Your Start-up Cost
6. Axe Throwing Equipment
7. Writing an Axe Throwing Business Plan
8. Banking Setup
9. Get the Funding for Your Axe Throwing Business
10. Software Setup
11. Get Your Axe Throwing Business Insured
12. Axe Throwing Business Office Setup
13. Create an External Support Team
14. Hiring Employees
Followed by:
- What To Consider Before Starting Your Axe Throwing Business
- Axe Throwing Business Considerations
- Axe Throwing Business Resources
Let’s get started.
Steps to Starting An Axe Throwing Business
Follow the steps below to start an axe throwing business
1. Research the Industry
a.) An Inside Look at An Axe Throwing Business
The more you research a business, the better decisions you can make and the better your ability to plan. Of course, it takes time to conduct research, but it’s well worth it for a better overall result.
a.) An Inside Look at An Axe Throwing Business
We will look at four ways to get inside information about an axe throwing business.
Method One: Businesses for Sale
Locate businesses for sale and make an appointment with those business owners to discuss the opportunity.
When speaking with the business owner, tell them that you’re planning to start your own axe throwing business. However, before you start, you want to look into purchasing a business that’s already established.
Next, to prepare for your meeting, create a list of questions about an ax-throwing business.
When you meet with the owner, you want to ask questions about their experience before getting into the hard-hitting questions about their business. You want to get a conversation going, so it will lead to the owner opening up to you while you’ll get to know them a bit better.
Your questions may include something like the following:
- What attracted you to an axe throwing business?
- How long have you been in the axe throwing business?
- What do you like most about the business?
- What are the most pressing problems related to your business?
- If you had to do it all over again, what would you do differently?
- Why do you want to sell your business?
As you can see, the above questions will help you break the ice.
Your next line of questions will be from your list. You may want to ask questions like the following examples:
- How much revenue did your business generate last year?
- How much of that revenue is profit?
- What is most profitable about axe throwing?
- How much debt is owning on the business?
- How much do you spend on marketing?
- Tell me about the type of customers you deal with.
- What makes your business unique?
- What are the busiest hours?
- How many employees do you need?
- What improvements can you suggest for your business?
- What advice can you give me about this business?
- Etc.
Make sure that you write down the answers to all the questions you ask because it’s easy to forget.
It’s worth noting, that you may find a business that makes sense, and you may consider purchasing it. However, before you do, make sure you finish all the exercises in this section to get as much information as possible before moving forward.
Method Two: Franchise Opportunities:
You’re going to do the same thing you did for businesses for sale. Only this time, your focus is on franchise opportunities. Make an appointment and meet with the company representatives to discuss the opportunity. Here you’ll also ask any questions you want related to the industry.
You may even find a franchise opportunity that makes sense.
Method Three: Published Interviews
You’re going to search for published interviews related to axe throwing business owner interviews. People willing to share their experiences is something you want to take advantage of.
Experience and knowledge take years to acquire, and the knowledge is there. All you have to do is find the information and use it.
The link below will bring up the latest search results related to interviews with axe throwing business owners. Search results always refer to the latest information, so it’s worth checking every now and then because new articles are published periodically. Search Results Related to Interviews From Axe Throwing Business Owners.
For more on this method, see An Inside Look Into The Business You’re Considering.
Method Four: Asking for Advice
Contact axe throwing business owners out of your area. Tell them you’re considering starting your own business in a distant area and if they would be open to giving you advice about starting and running an axe throwing business. You must ensure that they don’t see you as a threat but as an ally to build a working relationship to share experiences and brainstorm ideas.
Many people will not be interested because they view you as a threat, or they’re busy or simply not interested. However, it could turn into a long-term professional relationship or a friendship for those who agree to speak with you.
b.) Expand Your Knowledge of the Axe Throwing Industry
The more you know about axe throwing, the better off you’ll be starting a business in this industry. There are many resources to increase your knowledge about the industry. You just have to find it and use it. The following are some ideas for becoming more informed about the acts throwing industry.
- Sign up for newsletters related to the industry.
- Subscribe to blogs for updated information.
- Subscribe to YouTube channels related to axe throwing.
- Read online articles.
- Subscribe to industry publications.
- Etc.
The link below offers the latest search results related to the industry. So take some time to go through the content and expand your knowledge starting today.
Click Here for the Latest Publications Related to an Axe Throwing Business.
c.) Choosing a Business Location
Your location is an important factor that affects your success. If you locate your business in an inappropriate area, your chances of success have just plummeted. For example, if you locate in an area with no demand for axe throwing, it makes no sense to open your business in that area.
On the other hand, if you open in an area with many axe throwing businesses, the competition may be too steep to get people to come to your axe throwing business.
The ideal situation is to locate your acts throwing business in an area with demand, but the market isn’t saturated.
For more, see Choosing the Best Location for Your Business.
d.) What Type of Axe Throwing Business Will You Start?
Have you considered what type of axe throwing business you will start?
For example:
- Will your business be an outside business or an inside type of setup?
- Will you have a restaurant setting for your acts throwing business where people can enjoy the day with axe throwing activities and enjoy the food you serve?
- Will you be setting up your business as an arena and having tournaments?
When you understand the type of business you’re planning to set up, you’ll be more focused on what you need to set up and the type of customers you’ll be attracting. As a result, you’ll also be more effective at planning your start-up.
2. Choose a Business Name
Choosing a memorable and catchy name for your acts throwing business is essential. However, there are online resources that can help get the creativity flowing. These include websites that offer lists of name ideas for certain businesses and other sites that offer a name generator.
Once you have a list of names, I suggest putting it aside for a few days, and when you come back to it, you look at the list from a fresh perspective. First, choose the top five names to see if they are available for registration, and you’ll want a matching domain name for your website.
When you decide on a name, it’s also a good idea to say it out loud, use it in different sentences and see how it looks in print before making your final decision.
For Axe Throwing Business Name Ideas, See Google’s Latest Search Results.
3. Legalizing Your Business
Naturally, for any business you start, you must make sure it’s legal and have all the correct permits, from City Hall to a state or provincial level. So let’s look at the three sections below.
a.) Decide on a Legal Structure
There are a few structures you can choose from to set up your business.
The most popular and easiest to set up as a sole proprietorship. This means you and the business are the same entity.
For example, if you start a part-time business, the income from your business and your job are considered as one. Therefore, your total income is the money from your business and your job.
As a sole proprietor, you are the only one that can own the business. If you have a partner, you’ll have to register a different type of structure, such as a limited liability company (LLC), a partnership, a corporation, or something similar.
It’s worth noting that a sole proprietorship has the least amount of protection for your personal assets. For example, if you are served with a lawsuit or your business goes bankrupt, your personal assets are at risk.
A limited liability company is safer to establish a business because the business is a separate entity; therefore, if the company goes bankrupt or has a lawsuit against a company, your personal assets are protected.
When it comes to business registration and set up my personal preference is to get the advice of a professional such as a lawyer, an accountant, or a company specializing in company setups and registration.
For more, See How To Register Your Business Using These Resources.
b.) Get a Tax Id
You may or may not need a tax ID. It depends on whether or not you have employees and your business structure.
If you use the advice of a professional, they will advise you on whether or not you will need a tax ID at this point in your business or not.
For more see Here’s How To Get A Business Tax Id
c.)Local Permits and Regulations
Check with your local municipality or City Hall to determine what type of permits you may need. Also, check with the zoning regulations for an ax-throwing business. You’ll also want to check what types of permits and certifications may be required related to safety.
Visit the Licensing and Permits Page for More Information.
4. Create Your Corporate ID
A corporate ID is the design and branding of your business. A corporate ID includes your logo, business sign, business cards, bank checks, letterhead, envelopes, etc.
A corporate ID can be expensive, but it’s worth the investment. In the early stages, if you don’t want to spend a lot of your start-up budget on your corporate ID, you can get away with your logo, sign, business sign, and business cards and complete the rest of the components when your company is up and running.
It’s important to have a professional create your corporate ID because it leaves an impression on your customers, and obviously, you want to leave a good one.
For More See:
How To Design A Business Logo – Make it Good It Might Last Years.
How to Design Business Cards That People Will Pay Attention To
Business Signs – Have a Look at These Ideas.
A Complete Introduction to Corporate Identity Packages
5. Estimating Your Start-up Cost
You won’t find anything accurate online regarding your total start-up cost because you must know the type of axe throwing business you’re setting up to create an accurate estimate. So naturally, if you’re serving food and starting a restaurant will differ from an outdoor setup on a piece of land you own.
When you are clear about the type of setup, you can start to get pricing. Be as accurate as possible. If your estimate is too high, you could have trouble getting funding. On the other hand, if your estimate is too low, you may run out of money before you can open your doors to the public.
Start listing all the issues you’ll need for your start-up. Once you start getting pricing, other issues will appear, and you can add them to your estimate.
For more see Estimating Start-up Costs: Are You Missing Anything?
6. Equipment
Take some time to consider the setup of your axe throwing cages. Then, you can design your own or look for anything on the market that might be a better option.
When it comes to axe throwing, you want to put safety first. The last thing you need is someone getting hurt. It will be on your conscience, not to mention it’s bad for business.
Another good way to get a good idea is to go to an axe throwing business and spend some time throwing axes for fun while learning about the setups.
The Latest Google Search Results Related Axe Throwing Business equipment.
7. Writing a Business Plan
You will need a business plan for your acts throwing business. A business plan is beneficial for two reasons:
Reason Number One:
A business plan helps you see the big picture and forces you to think about how you will set up your business, what to focus on, and how you will attract customers, etc.
Your business plan is your map for success. It can help keep you on track when your business is up and running. It’s a document you should review periodically and make changes to the document or your business as necessary.
Reason Number Two:
If you’re considering financing or attracting investors for your axe throwing business, you will need a business plan for either the bank or your investors to review. The bank will not process your loan application if you don’t have a professional business plan.
Options For Creating A Business Plan:
Writing a business plan takes time and effort. However, there are a few options you can look into. You can use a template and fill in the blanks. You can use a software package that will guide you step-by-step through each section. Or you can hire a professional to write your business plan for you.
It’s worth noting whatever method you choose to create your business plan, you are the one that has to provide the information. And you should see that as a good thing because it forces you to think about what you’re doing and how you’ll do it.
For more, see How To Write A Business Plan.
8. Banking Setup
Choosing a bank
You will need to choose a bank that you’ll be dealing with. When choosing a bank, you want one in your location to make daily deposits for those customers that pay you cash. And if you think about it, it’s not so much the bank as it is your relationship with your banker.
A banker can be a great asset to your business. They can help you with advice. Help you set up your finances for success. And they can help you when you need a loan.
Developing a good relationship with your banker can be beneficial whenever you’re in a financial crunch. A banker who understands your business and knows how you operate can be very helpful when you quickly need a short-term loan.
For more, see our page on How To Choose A Business Bank.
Acquiring a Merchant Account
You will need a merchant account to process payments from customers who use debit or credit cards.
A merchant account processes payments from your customers to your account. A good relationship with your banker will help you with the application process and make sure it’s correct so that you can get approval for your merchant account application.
See How To Open A Merchant Account for more information.
9. Get the Funding for Your Business
By the time you reach this step, you have come a long way. Now it’s time to make copies of your business plan and make appointments with lenders to apply for a business loan.
Before you start, let’s look at how a bank sees a new business. Lenders view new business loans as high risk because many businesses fail in the first couple of years of operation, and lenders go by the statistics. A lender would rather loan money to a business that’s been operating for a few years and has a good track record because it’s a lower-risk loan.
With that in mind, don’t get disappointed if your loan is declined multiple times. Instead, if the loan is declined, inquire about the reasons, and see if you can address them before reapplying or moving on to the next lender.
If all else fails, you can look for a partner, look for investors, or you can apply for an SBA loan where the government offers guarantees to the lender which may result in an approved loan application.
Also, take a look at our post on, Getting a Small Business Loan.
10. Software Setup
You will need software to help run your axe throwing business, especially when offering other activities.
For example, if you’re offering food, you’ll need a POS system designed for restaurants. If you’re offering souvenirs and merchandise, you’ll need an appropriate system for retail, and you want something that will allow you to schedule reservations. You’ll also need an accounting system for your business.
You may find a system online that will do all or most of what you need, or you may need to purchase multiple packages to get the results you’re looking for.
When it comes to choosing software, looking at online reviews is a good practice to give you an idea of what other people are experiencing. Also, many companies offer demos that allow you to test the software before purchasing.
Check Out Google’s Latest Search Results for Software Packages Related to an Axe Throwing Business.
11. Get Your Business Insured
Insurance is a very important part of an axe throwing business. With all the precautions and safety measures you have in place, accidents can still happen, and the last thing you need is someone to get injured at your place of business and not have sufficient insurance. That would be devastating. You’ll need to speak with an experienced broker so that you can get sufficient coverage for your operation.
You should be speaking with an experienced broker during the planning stages of your operation because you may have to make changes that will allow you to get insurance. For example, the setup of the axe throwing area may need to incorporate certain safety precautions.
For more, see our page about business insurance.
12. Office Setup
You will want to spend some time setting up your office. You want it to be functional, comfortable, and equipped with the tools and accessories you need.
The more successful you become in business, the more time you spend managing your business and completing administrative tasks. The more organized your office, the quicker and more effective you’ll be
For more see, Here Are Considerations for the Setup of Your Office.
13. Create an External Support Team
An external support team is very beneficial because it’s a group of people that will help you run your business. They are especially helpful if you’re expanding into multiple locations.
Your external support team is not on your payroll. Instead, you either have a retainer contract or pay by the hour. Your external support team must be a group of people who are a good match for you and the best you can afford. Some of the members that may be included on your support team include the following:
- Lawyer
- Accountant
- Graphic Designer
- Business Strategist
- Business Consultant
- Marketing Consultant
- IT specialist
- Website Designer
- etc.
Treat your team with respect and think of them as part of your business.
For more see, Building a Team of Professional Advisors for Your Business
14. Hiring Employees
Initially, you may consider doing everything yourself.
That’s a good idea. However, if your business grows, you may need to hire employees to properly serve your customers.
When hiring, you want to fill only the necessary positions.
When calculating the cost of hiring, consider the annual rate to gain a better perspective instead of looking at the hourly rate.
For instance, a small staff of just four people can cost upwards of six figures per year.
Hire the right person for each job.
If you hire the wrong person, you lose the money they were paid for training and time because you have to start over.
It’s also worth noting that it’s harder to fire someone than hire them, so take your time. There’s no rush during the hiring process.
For more on hiring, see How and When to Hire a New Employee.
What To Consider Before Starting
Below are a few areas to consider before you start your business. This section makes you think of the overall outcome and the best route to take.
Is Running This Business Right for You?
Many people dream of starting a business for various reasons. Some of those reasons include the following:
- To get away from a job.
- To be in control and be the boss.
- To benefit from the financial status of owning and operating a successful business.
- Owning a business out of a passion for it.
All of the above are legitimate reasons to start a business, and you want to make sure you’re starting a business for the right reasons. However, the one main factor that stands out for me is your passion for the business you are considering.
When you’re passionate about your business, you have the driving force you need to succeed. Although operating a successful business isn’t easy, It takes time and effort, and a lot of motivation.
When you’re passionate about your business, you’ll look for solutions when problems show up. On the other hand, when you’re in business for the wrong reasons and problems show up, you look for an exit strategy instead of a solution. So make sure you’re starting a business for the right reasons.
For more, see Reasons To Start a Business
Do You Have the Skills?
Do you have the skills necessary to own and operate your own business? If not, there’s hope. You can take a small business course or hire a manager.
Another option is to learn as you go and when it comes to big decisions, use your external support team for advice before moving forward.
You can learn the skills you lack. It’s important to focus on the skills you need most at this time and focus on the best way to fill the void.
For more see, Do You Have These Essential Skills Needed To Run a Business?
Is It Better To Start From Scratch or Buy A Business?
We discussed looking at businesses for sale at the beginning of this article. This section will go over a few of the pros and cons of buying an established business versus starting your own.
Pros:
When you purchase an established business, you bypass the start-up phase. All of the guesswork is taken out of the equation. You have something already operating, is legal, and has all the necessary permits.
When you take over the business, you earn revenue from day one.
When you purchase a business, you take over the goodwill, which consists of the customer base, the reputation the business has for marketing, and any assets the business owns.
Cons:
Because of the goodwill, it’s more expensive to purchase a business than it would be to start your own.
When you purchase a business, you purchase the good with the bad. Unfortunately, the business may have a bad reputation. It may have existing lawsuits, many customer complaints, and problems that need addressing.
When you buy a business, it could be set up where you want to make drastic changes. However, you may have a problem because your customers are used to operating a certain way and may not be open to the changes you make. Therefore your changes can hurt your business. So if you’re planning on making drastic changes, it might be better off to start your business from scratch.
Click Here To View an Axe Throwing Business Listed for Sale From Google’s Search Results.
Should You Consider a Franchise?
An axe throwing business is relatively new in popularity; therefore, you may or may not find many franchise opportunities. But it’s worth looking into.
Pros:
When you purchase a franchise, everything is set up for you. Think of it as a business in a box. The look of your business and the operating procedures are already in place. So basically, all you have to do is follow all the plans in place.
There are proven operating and marketing strategies, so all the guesswork is taken out of the equation. You know your business will work because you can go by the success of other locations.
Cons:
Everything is standard across all locations, so that means your operation will also be standard. Therefore making any changes must be approved by corporate.
You have little control over how you operate the business.
Ongoing franchise fees as long as you own the business.
To Browse the Marketplace for Axe Throwing Franchise Opportunities, See the Latest Google Search Results. Also, see, What You Need To Know About Owning a Franchise.
Axe Throwing Business Considerations
Points and insights For an Axe Throwing Business
Axe throwing has been around for centuries, but now axe throwing bars are catching on as a business. It doesn’t seem like a good mix — alcohol and axe throwing. Despite the obvious, a trend is catching on for axe throwing themed bars.
The first axe throwing bar is believed to have opened in Toronto, Canada, back in 2011. In addition to axe throwing themed bars, there are also axe throwing establishments for competitions.
Suppose you’re considering starting a business in this industry. In that case, whether you are considering a bar theme or a training and competition center, you’ll want to have a look at the resources included in this post — but first, here are a few things you want to consider.
-
You’ll want to make sure safety is a priority. With this type of business, your concern is that your customers are safe and protected. Additionally, you’ll want to ensure that your customers can’t harm other people in the establishment.
- Think of this business as similar to a shooting range. You need to take similar steps for safety. The last thing you want is someone getting hurt. On the other hand, you could be providing a great time for people on various occasions, having it come to an end because of an accident.
- You’ll want to speak with a lawyer with experience in this type of business so that you have waivers for your customers, and you’ll be able to explain the dangers involved as well as what you are and are not liable for.
- Since this is a type of business you don’t hear about a lot, you’ll have a tough time getting people through the door — especially in small towns and rural areas — during the startup phase.
- One thing you can do once you’re up and running is to invest the majority of your marketing campaign into a competition and offer a decent reward to the winner. Then, get the news out on social media and your local radio and TV stations.
- Your goal here is to introduce your business and get local people involved. You don’t want to focus on making money at this event, but rather on awareness. So, this campaign can cost you, but it could be the most important promotional event for your business.
Resources
You will find a collection of resources in this section of the article that you can use during the start-up phase and after you’ve launched your business. If you want to access the resources at any time, bookmark this page, and you will be able to access the resources when needed.
Trends and Statistics
Trends and statistics are an important part of business research. You can gain tips and insights into your industry. For example, you can identify if your industry is on the rise or declining.
You may also find something missing in your industry, and if you can fill that void, you may have found a competitive edge. So another tip worth mentioning is you may find something that you’re missing in your business and implement that as well.
Click Here for the Latest Google Search Results Related to Trends in the Axe Throwing Industry.
Terminology
Joining an association related to your industry can be very beneficial. You can network with like-minded people. You can also benefit from events the association holds. Another advantage worth mentioning is associations provide information, and at times they may offer vendor discounts.
You may also want to consider joining your local Chamber of Commerce so you can network with local business owners and participate in many events the Chamber of Commerce holds.
Search Results Related to Terminology in the Axe Throwing Industry.
Associations
The terminology used in your industry is something you should be familiar with. Of course, it takes time to learn the terminologies, and it will come with experience. But you can take a shortcut by looking at industry terms and becoming familiar right now with those important to your business.
Click Here To View Associations Related to the Axe Throwing Industry. You May Also Want To Check Out Our Page for Tips and Insights About Joining a Trade Association.
Top Axe Throwing Businesses
Looking at related established businesses can give you ideas for pricing, services offered, and insights into trends.
It’s worth mentioning you could find something that’s missing that you can incorporate into your business and gain a competitive edge. Also, keep in mind, you may also find something that the other businesses are offering that you have missed and incorporate into your company.
Search Google for the Top Axe Throwing Business in Your Area.
Marketing Tips
Without customers, you don’t have a business. And without marketing, it will be difficult to grow your business. Therefore, marketing is a function all businesses must work on to experience growth.
There’s a lot of information out there for marketing your business. You can take general marketing tips and apply them to your business. Or you can find tips specific to your business. Either way, you must review the available information and put those tips to work for your business.
Have a Look at the Latest Articles for Marketing an Axe Throwing Business.
Axe Throwing Tips
As an axe throwing business owner, you must be familiar with axe throwing. You want to provide tips to your customers to have a more enjoyable experience. To provide tips, you must be good at axe throwing. Study techniques available to increase your knowledge to pass it on to your customers.
Have a Look at the search results for tips related to Axe Throwing.
Books
Books are a great way to increase your knowledge and build a reference library.
One of the advantages of non-fictional books is that you don’t have to read them cover to cover to gain the knowledge you’re looking for.
Instead, you can scan the table of contents and jump to the chapter that interest you. So take some time to see the material published that’s available to you right now.
View the Most Recent Google Search Results for Books related to Axe Throwing.
News
The news is another method to stay up-to-date with industry reports covered by the media. Using Google’s News site allows you to type in your keyword and get a large list of the latest and archived news stories related to your keyword.
See Google’s News Search Results Related to the Axe Throwing Industry.
Videos
YouTube is a great source of visual learning. There are many videos out there related to axe throwing. You should take advantage of this information and go through all the videos out there.
Another advantage is getting a sense of what people experience when participating in axe throwing events. As a business owner, you want to make the customer experience as fun as possible. Looking at what others are experiencing may spark ideas that you can use.
See the Most Recent Videos Related to an Axe Throwing Business.