Business ideas
8 min read

How to Start a Profitable Axe Throwing Business [11 Steps]

Learn how to start a profitable axe throwing business with our 11+ step guide. From finding the perfect location to marketing strategies, we've got you covered! #AxeThrowingBusiness #ProfitableBusiness #Entrepreneurship

By Nick Cotter
Updated Feb 05, 2024

image of a axe throwing business
This page may feature products from our affiliate partners, which could influence the products we discuss due to potential compensation. Despite this, our evaluations are impartial, based solely on our independent analysis. The content here is intended for informational purposes and should not be seen as legal advice. For professional guidance, consulting with a legal expert is recommended.
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1. Perform market analysis.

Starting an axe throwing business requires a comprehensive understanding of the current market to ensure your venture meets consumer demand and stands out among competitors. A thorough market analysis will guide strategic decisions and help to tailor your business to the preferences of your target audience. Here's how to get started:

  • Research the industry trends: Look for growth patterns, industry projections, and consumer preferences within the axe throwing and broader entertainment sectors.
  • Analyze competitors: Identify other axe throwing venues and entertainment businesses in the area; evaluate their offerings, pricing, customer reviews, and market positioning.
  • Understand your target audience: Define demographic details like age, gender, income, and interests of potential customers who are likely to visit an axe throwing facility.
  • Assess location options: Evaluate potential locations based on accessibility, visibility, local traffic patterns, and proximity to complementary businesses such as bars or restaurants.
  • Identify potential partnerships: Look for local businesses or brands that could be strategic partners, enhancing your marketing reach and offering cross-promotion opportunities.
  • Examine regulatory requirements: Research local laws and regulations that could affect the operation of an axe throwing business, including safety standards and zoning laws.
image of a axe throwing business

Are axe throwing businesses profitable?

Yes, axe throwing businesses can be profitable. According to an article from Forbes, “The average revenue for an axe-throwing business ranges from $12,000 to $300,000 annually depending on the size and location of the business.”

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2. Draft a axe throwing business plan.

Creating a well-structured business plan is crucial for the success of your axe-throwing venture. It will serve as a roadmap outlining your business objectives, strategies for achieving them, as well as the financial and operational details. Here are key points to consider when drafting your plan:

  • Executive Summary: Provide a concise overview of your business concept, the target market, and your unique selling propositions.
  • Market Analysis: Research the local market, identify your target audience, and analyze competitors to understand the demand for axe-throwing in your area.
  • Operational Plan: Describe the day-to-day operations, including location, facilities, equipment needs, and staffing requirements.
  • Marketing and Sales Strategy: Outline how you will attract and retain customers through branding, promotions, pricing strategy, and sales tactics.
  • Financial Plan: Include projections for startup costs, ongoing expenses, revenue streams, and break-even analysis. Consider multiple financial scenarios for risk assessment.
  • Risk Management: Identify potential risks and the strategies you will implement to mitigate them.
  • Appendices: Attach any additional documentation, such as resumes of the management team, detailed market research data, or supplier agreements.

How does a axe throwing business make money?

Axe throwing business make money from the customers that come in to throw axes at the target. Most of the income comes from hourly fees for axe throwing events. Companies often offer packages for larger groups such as corporate events, birthday parties, and bachelor/bachelorette parties. The target audience for a 11 Steps To Starting a Successful Spice Business could be restaurant owners who want to introduce their own proprietary blend of spices or individuals looking to start their own spice business.

3. Develop a axe throwing brand.

Creating a brand for your axe throwing business is crucial as it will set the tone for your customer's experience and differentiate you from competitors. A strong brand will communicate your business's personality, values, and promises to your audience. Here are some key steps to help you develop a distinctive axe throwing brand:

  • Identify Your Unique Selling Proposition (USP): Determine what makes your axe throwing experience unique. Is it your location, themed events, or exceptional customer service?
  • Define Your Brand Personality: Choose a personality for your brand that resonates with your target audience, whether it's adventurous, edgy, fun, or family-friendly.
  • Choose Your Brand Name: Select a name that is memorable, easy to pronounce, and reflects the essence of your brand.
  • Design a Memorable Logo and Visuals: Create a logo and accompanying visuals that are eye-catching and represent your brand's personality.
  • Develop a Brand Voice: Craft a brand voice for all communications that is consistent and aligns with your brand personality.
  • Build a Brand Story: Narrate your brand's story to create an emotional connection with your customers. Share the inspiration behind starting your axe throwing business and your vision.
>> MORE:

How to come up with a name for your axe throwing business?

Brainstorming is key when coming up with a catchy name for an axe throwing business. Consider the types of activities your business will offer, as well as things that evoke a sense of adventure and excitement. Incorporate wordplay and humor if desired, and make sure to double-check any potential names are available to register as a domain name and trademark. Once you have narrowed down the options, ask friends, family and potential customers for feedback on their favorite names. With some creative brainstorming and feedback, it will be easy to come up with a fun and memorable name for your axe throwing business!

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4. Formalize your business registration.

Before you can officially open the doors to your axe-throwing haven, you'll need to navigate the business registration process. This step is crucial as it legitimizes your enterprise, ensuring that all operations are above board and legally recognized. Here's a guide to help you through this phase:

  • Choose a Business Structure: Decide if your axe throwing business will be a sole proprietorship, partnership, LLC, or corporation. Each has different implications for liability and taxes.
  • Register Your Business Name: Select a unique name and check its availability. Once cleared, register it with your state's business filing agency.
  • Obtain an EIN: Apply for an Employer Identification Number (EIN) from the IRS for tax purposes, especially if you plan to hire employees.
  • Register for State Taxes: Depending on your location, you may need to register for state taxes, which could include sales tax and unemployment insurance tax.
  • Secure Permits and Licenses: Research and obtain the necessary local permits and licenses. This may include a general business license, a health and safety permit, or a special amusement license.
  • Comply with Additional Regulations: If serving food or alcohol, additional permits will be required. Always check with your local city and county government for specific regulations.

Resources to help get you started:

Explore key resources aimed at assisting axe throwing entrepreneurs with market trends, operational tips, and strategies for business expansion:

5. Acquire necessary licenses and permits for axe throwing.

To ensure your axe throwing business operates legally, it's crucial to acquire the necessary licenses and permits. Each location might have different requirements, so it's important to conduct thorough research and comply with local, state, and federal regulations. Here's a list of steps to help you in this process:

  • Research Local Zoning Laws: Check with your city or county zoning office to ensure your business can operate in the desired location.
  • Obtain a Business License: Apply for a general business license with your city or county clerk's office.
  • Secure a Health and Safety Permit: If you serve food or beverages, you'll need a health department permit, which requires passing a health inspection.
  • Alcohol License: If you plan to serve alcohol, apply for a liquor license through the appropriate state agency.
  • Entertainment License: Some jurisdictions may require an additional permit for entertainment or recreational facilities.
  • Building Permits: If you're constructing or renovating a space, you'll need the right building permits from your local building department.
  • Liability Insurance: While not a permit, liability insurance is essential to protect your business and customers in case of accidents.
  • Consult with Legal Counsel: To ensure all your bases are covered, it's wise to consult with a lawyer who specializes in business law.

What licenses and permits are needed to run a axe throwing business?

The exact licenses and permits you need to run an axe throwing business will depend on the area you are operating in. Generally, you will need to get a business license, apply for any necessary zoning or use permits, and obtain a seller’s permit or resale license. Depending on the jurisdiction, you may also need to obtain other specific licenses related to health and safety regulations, such as food handling licenses if you will be serving food and beverage on-site.

6. Open a business bank account and secure funding as needed.

Starting an axe throwing business requires financial organization and potential funding to get the wheels turning. A dedicated business bank account is essential for managing finances and transactions. Meanwhile, securing funding can fuel your startup costs, such as venue rental, equipment, and marketing. Follow these steps to establish a solid financial foundation:

  • Research local banks and credit unions to find one with favorable terms for small businesses, including low fees and good customer support.
  • Prepare the necessary documents to open a business bank account, typically including your business license, EIN, and articles of incorporation.
  • Consider whether you'll need external funding. If so, create a robust business plan to present to potential investors or lenders.
  • Explore different funding options, such as small business loans, lines of credit, investors, or crowdfunding platforms.
  • Understand the terms and conditions of any funding you secure, including repayment schedules and interest rates, to ensure they align with your business plan.
  • Keep meticulous records of all financial transactions and statements to maintain clarity and prepare for annual taxes and potential audits.

7. Set pricing for axe throwing services.

Setting the right price for your axe throwing services is crucial to attract customers while ensuring your business remains profitable. Consider factors such as operational costs, market rates, and customer value proposition. Below are some guidelines to help you establish a competitive pricing structure:

  • Cost Analysis: Calculate your overhead costs, including venue rental, equipment maintenance, staff wages, and utilities, to determine the minimum price needed to cover expenses.
  • Competitor Pricing: Research the prices of nearby axe throwing businesses to gauge market rates, ensuring your prices are competitive without undervaluing your services.
  • Value-Based Pricing: Consider the unique experiences or amenities your business offers, such as expert coaching or premium equipment, to justify higher price points.
  • Dynamic Pricing: Implement a dynamic pricing model where you adjust rates based on demand, time, or special events to maximize revenue.
  • Packages and Memberships: Offer group rates, membership packages, or loyalty discounts to encourage repeat business and provide customers with cost-saving options.
  • Seasonal Promotions: Utilize seasonal or holiday promotions to attract new customers and keep your pricing strategy flexible and responsive to market changes.

What does it cost to start a axe throwing business?

Initiating a axe throwing business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $20700 for launching such an business. Please note, not all of these costs may be necessary to start up your axe throwing business.

8. Acquire axe throwing equipment and supplies.

Starting an axe-throwing business involves careful selection of the right equipment and supplies to ensure a safe and enjoyable experience for your customers. You want to invest in high-quality axes and materials that meet industry safety standards. Below is a list of necessary items to consider acquiring:

  • Axes: Purchase a variety of axes suited for all skill levels, including lightweight models for beginners and heavier ones for experienced throwers.
  • Targets: Install durable wooden targets, ensuring they are constructed from softwood such as pine or poplar for easy axe penetration.
  • Safety Gear: Provide mandatory safety equipment like non-slip gloves, protective eyewear, and first aid kits.
  • Throwing Lanes: Construct secure throwing lanes with fencing or barriers to protect spectators and participants.
  • Flooring Material: Choose a floor material that can withstand the wear and tear of axes, such as rubber or end-grain wood flooring.
  • Scorecards and Markers: Have scorecards and markers available for keeping track of game scores.
  • Instructional Materials: Create or purchase training guides and safety manuals to assist customers in proper throwing techniques and safety practices.
  • Maintenance Tools: Keep tools on hand for target and equipment maintenance, such as sandpaper, wood filler, and replacement boards.
  • Point of Sale System: Acquire a reliable point of sale system for transactions and to manage bookings, waivers, and customer data.

List of software, tools and supplies needed to start a axe throwing business:

  • Axe Throwing Lanes - $1000 - $5000 each
  • Axe Throwing Target Boards - $30 - $50 each
  • Axe Throwing Axes (steel) - $20 - $30 each
  • Protective Netting for Walls and Fencing - $150 - $550 for 16' x 8' panel
  • High-Speed Internet and Wi-Fi Equipment/Accessories – Varies depending on provider
  • Point-of-Sale System – Varies depending on provider
  • Liability Insurance – Varies depending on coverage
  • Security System with Monitoring Service – Varies depending on provider
  • Marketing Materials and Advertising – Varies depending on scope of services
  • Staff Uniforms and Apparel – Varies depending on style and materials
  • >

9. Obtain business insurance for axe throwing, if required.

Starting an axe throwing business involves several critical steps to ensure a safe and legally compliant operation. One of the most important steps is obtaining the right business insurance to protect your company from potential liabilities. Here's a quick guide to help you navigate this process:

  • Research the types of insurance required for an axe throwing business, which may include general liability, property insurance, and workers' compensation.
  • Contact multiple insurance providers to compare quotes and coverage options tailored to the unique risks associated with axe throwing.
  • Consider adding specialized coverage for customer injuries, equipment damage, and business interruption.
  • Work with an insurance broker experienced in entertainment or recreational business policies, as they can offer valuable insights and find policies that suit your specific needs.
  • Ensure that your insurance policy meets all the local and state regulations for operating an axe throwing venue.
  • Review and update your insurance coverage regularly as your business grows or as there are changes in regulations or industry standards.

10. Begin marketing your axe throwing services.

Once your axe throwing business is ready to welcome customers, it's time to create a buzz and draw in an audience eager for an unforgettable experience. A strategic marketing plan can help you reach potential customers and establish your brand in the marketplace. Here are some tactics to kick-start your marketing efforts:

  • Utilize Social Media: Create profiles on platforms like Instagram, Facebook, and Twitter to showcase your facilities, promote events, and engage with your community.
  • Offer Promotions: Attract first-time throwers with discounts, group deals, or introductory offers.
  • Partner with Local Businesses: Collaborate with nearby restaurants, bars, and shops to cross-promote services and attract local patrons.
  • Host Events: Organize league nights, corporate events, and parties to bring in groups and create recurring business.
  • Invest in Online Advertising: Use targeted ads on Google and social media to reach potential customers searching for unique entertainment options.
  • Encourage Reviews and Referrals: Leverage happy customers to spread the word with online reviews and referral discounts.
  • Engage with the Media: Send press releases to local news outlets and invite them to special events for coverage.

What licenses and permits are needed to run a axe throwing business?

  • Axe Throwing Lanes - $1000 - $5000 each
  • Axe Throwing Target Boards - $30 - $50 each
  • Axe Throwing Axes (steel) - $20 - $30 each
  • Protective Netting for Walls and Fencing - $150 - $550 for 16' x 8' panel
  • High-Speed Internet and Wi-Fi Equipment/Accessories – Varies depending on provider
  • Point-of-Sale System – Varies depending on provider
  • Liability Insurance – Varies depending on coverage
  • Security System with Monitoring Service – Varies depending on provider
  • Marketing Materials and Advertising – Varies depending on scope of services
  • Staff Uniforms and Apparel – Varies depending on style and materials
  • >

11. Expand your axe throwing business.

Expanding your axe throwing business is a pivotal step in capitalizing on its popularity and building a larger customer base. Diversification and strategic growth are key to maintaining the momentum of your success. Below are some strategies to consider:

  • Open Additional Locations: Research demographic trends and market demand to identify new areas ripe for your next venue.
  • Franchising Opportunities: Develop a franchising model to allow others to open their own branches under your brand, sharing your business ethos while growing your presence.
  • Corporate Events and Partnerships: Offer tailored packages for team-building events and partner with local businesses to expand your reach.
  • Launch Mobile Axe Throwing Units: Invest in mobile units to attend fairs, festivals, and private events, offering flexibility and wider audience exposure.
  • Enhance Customer Experience: Introduce leagues, themed nights, and advanced booking systems to keep regular customers engaged and attract new ones.
  • Merchandising: Create and sell branded merchandise to turn satisfied customers into brand ambassadors.
  • Marketing and Social Media: Ramp up your digital marketing efforts to build an online presence and engage with a broader audience through social platforms.