Fun Facts for a Fun Industry
We know you know – bowling is a blast! Check out some interesting bowling history (some of it decidedly less fun than others) and facts!
Did you know…
- …that in the early 1900s, bowling balls were made of wood? And later, a heavy rubber.
- …that the American Bowling Club was a gentlemen’s club (not the way we think of them today) and ladies weren’t allowed until 1917? It was in 1917 that women got their own governing body, the Women’s National Bowling Association. Thank goodness that has changed!
- …that the first indoor lane was constructed in New York City in 1840?
- …that bowling was first televised in 1950?
- …that Japan is home to the largest bowling alley in the world? The Inazawa Grand Bowling Centre has 116 lanes!
- …that the popularity of ten-pin bowling stems from laws against nine-pin bowling from the 1800s? The government saw bowling as a part of a culture of crime and gambling, and nine-pin bowling was banned. By adding one more pin, players got around this rule and the modern game of ten-pin bowling was born!
Trends in the Bowling Center Industry – 2021
Things are looking up for the bowling center industry after a challenging year. Here’s what we know:
- Sales are forecast to grow at a 13.26% compounded annual rate from 2020 to 2025, greater than the growth of the overall economy.
- Bowlero Corporation, the world's largest owner and operator of bowling entertainment centers, is expected to make an initial public offering during Q3 2021 at a $2.6 billion valuation via a special purpose acquisition company (SPAC). A SPAC is a company with no commercial operations that is formed strictly to raise capital through an initial public offering (IPO) for the purpose of acquiring an existing company. Analysts say that the SPAC deal is intended to enable more bowling center acquisitions, as there are still thousands of independent facilities in operation.
- Bowling is becoming more popular among high school students, and participation is on the rise. The number of high schools that sponsored bowling as a sport increased 20% for boys and 20% for girls between 2010 and 2018, according to the National Federation of State High School Associations (NFHS), making bowling the second fastest growing sport behind lacrosse.
- To further engage adults and redefine the image of bowling, some firms have adopted a boutique bowling model. Boutique bowling centers target adults and feature a nightclub-like atmosphere and upscale food and bar service.Centers often have sophisticated sound systems and lighting and contemporary furnishings and fixtures. An evening of boutique bowling may include live entertainment or a DJ. Unlike traditional centers, boutique bowling centers may have dress codes, bouncers, and VIP lounges. Alcohol sales are often significant contributors to revenue. Some FECs and traditional centers have a separate area dedicated to boutique bowling.
- Average wages for nonsupervisory employees at bowling centers were $13.67 per hour in August, a 27.4% increase compared to a year ago.
Questions to Ask Yourself
As you continue to grow your business, here are some questions you should ask yourself. Contact your IncredibleBank Relationship Officer for help!
- How often do you upgrade or purchase new automated equipment such as pinspotters, scoring systems, ball returns, and/or lane machines and how do you pay for these costs?
- What technology investments are you planning to integrate customer transactions across multiple departments, control games, schedule lanes and manage administrative tasks and financial reporting and improve operational efficiency? From what source do you draw funds to pay your fixed utility and other costs during the summer when league play shuts down?
- What cash flow challenges do you encounter during periods of extreme weather when customers are forced to stay home?
- How do you invest deposits from group events until the money is needed to purchase food and beverages for the event or pay day to day operating expenses?