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To kickstart your business plan writing process, here is a sample axe-throwing business plan to use as inspiration. You might use it to outline your plan, get an idea for financial projections, or create your marketing plan.
So, let’s head straight to Timber Targets business plan.
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- Fill in the blanks – Outline
- Financial Tables
1. Executive Summary
An executive summary is the first section of the business plan intended to provide an overview of the whole business plan. Here is an example of the executive summary:
Business Overview
Timber Targets is to become Denver’s premier axe-throwing destination. Our business offers a thrilling and safe experience of axe-throwing. We aim to cater to individuals, groups, corporate professionals, and everyone who is seeking an unforgettable adventure.
Market Opportunity
Denver’s adventurous spirit provides an ideal market for Timber Targets. We target a broad audience, including corporate offices and groups celebrating special occasions.
In Denver, the popularity of axe-throwing is increasing, so Timber Targets is capturing and fitting in the market perfectly.
Marketing Strategy
We are going to use a multi-channel marketing approach, including social media, local SEO, target advertising, and more. We will also promote customer feedback on various platforms to establish a strong online presence and attract a steady flow of visitors.
Financial Projections
We estimate initial startup costs at $350,000, with revenue projections showing steady growth over the first three years. We expect to break even within 12 months. To get things rolling, we’re seeking $400,000 in funding to cover startup expenses, marketing, and working capital for our first year.
| Financial summary | |
|---|---|
| Startup Costs | $400,000 |
| Lease and renovation | $200,000 |
| Equipment and purchases | $30,000 |
| Marketing and advertising | $20,000 |
| Staffing and training | $50,000 |
| Working capital | $100,000 |
| Break-even expected in 12 months | |
| Funding request | $400,000 |
Timber Targets is more than just an axe-throwing business; it’s an experience that brings people together and promotes a sense of accomplishment.
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2. Business Description
The business overview section of an axe-throwing business plan provides a summary of your business, including its legal structure. Below is a business overview of Timber Targets:
Unlocking the World of Axe-Throwing
Timber Targets is more than just an axe-throwing facility; it is more about an experience that combines adventure with entertainment along with building connections.
Business structure
Timber Targets operates as a Limited Liability Company (LLC), ensuring both legal protection and flexibility in business operations.
Business Concept
At Timber Targets, we’ve redefined the traditional notion of axe throwing. Our facility offers a range of axe-throwing experiences that are suitable for individuals of all ages, backgrounds, and skill levels.
Whether you are new or experienced, Timber Targets is a perfect place for everyone.
Key features
Safety
Safety is our topmost priority, so all our facilities are designed with safety in mind. We have well-maintained & constructed throwing lanes, other equipment, and trained coaches who ensure every guest is enjoying the axe-throwing facility.
Expert Guidance
Our team of experienced coaches makes sure that axe-throwing is accessible and enjoyable for everyone. Coaches will help everyone to sharpen their skills and enjoy at the same time.
Inclusive atmosphere
Timber Targets is a place for every adult. Our inviting atmosphere encourages participants to open up and connect with others.
Vision
Timber Targets envisions becoming a meeting and entertainment spot for everyone looking for entertainment and connections. We aim to create a community of axe-throwing enthusiasts who value this adventure.
3. Market Analysis
The market analysis section of a business plan is crucial for understanding the industry, target market, and competition. Here is an example:
Market Size and Growth
Denver, Colorado, has witnessed notable growth in the recreational and entertainment industry over the last decade. The axe-throwing industry has gained popularity amongst residents and tourists recently.
The demand for unique and engaging social activities has contributed to the growth of this niche market.
As of 2022, there were approximately 5 axe-throwing venues in the Denver metropolitan area. However, the market remains underserved, with a substantial potential for growth.
The city’s thriving population, which includes a mix of young professionals, college students, and adventure enthusiasts, presents a promising customer base for Timber Targets.
Demographics
- Age Distribution: Denver has a diverse age demographic, with a significant portion of its population falling into the 18-35 age group, which is a prime target audience for axe-throwing.
- Tourist Attraction: Denver is a popular tourist destination, drawing visitors from across the country and internationally. Timber Targets can tap into this market by offering a memorable experience to them.
- Corporate Events: The presence of numerous corporate offices in Denver presents an opportunity for us to cater to team-building events and private parties.
Location
Timber Targets is located in a high-traffic area of Denver to maximize the accessibility for residents and tourists. Our facility has ample parking space and complies with local zoning and safety regulations.
Target Market
Timber Targets will focus on three primary customer segments within Denver:
- Young Adults and Millennials (Aged 18-35): This group comprises the core target market for axe-throwing.
- Tourists and Travelers: We will attract tourists of all ages, from families to solo travelers and couples, who are interested in experiencing something unique during their visit to Denver.
- Corporate and Group Events: Local businesses, event planners, and organizations looking for team-building and group entertainment opportunities will be a key target.
Competition
While there are other axe-throwing venues in Denver, Timber Targets can differentiate itself by providing exceptional customer service, unique events, and proper safety measures.
Regulatory Environment
Axe-throwing businesses are subject to various safety measures and licensing requirements. It also includes ensuring participants comply with all safety protocols and providing proper training.
Timber Targets will comply with all the regulations and licensing requirements before commencing to ensure a safe place for its clients.
Denver, Colorado, offers a promising market for the Timber Targets Axe-Throwing business. With its diverse demographic profile, growing population, and tourism industry, there is substantial potential for growth in this niche entertainment sector.
4. Services
The service section of your axe-throwing business plan should provide a comprehensive overview of the offerings your business provides. Below is an example:
Timber Targets is dedicated to providing an unforgettable axe-throwing experience to our customers in Denver. Our services are designed to cater to various customer segments, including young adults, tourists, and corporate groups, ensuring a safe environment for all.
Axe-throwing sessions
Open sessions
Customers can drop in during our regular hours and enjoy open-axe-throwing sessions. Our expert coaches will guide participants of all skill levels.
Private sessions
For groups looking for an exclusive experience, we offer private axe-throwing sessions. It is perfect for birthdays, corporate team-building events, or bachelor parties. These sessions can be customized to meet certain preferences.
League play
Timber Targets hosts competitive axe-throwing leagues for those who are experts at this sport. We host certain seasonal leagues and also holiday leagues for entertainment.
Food and beverage services
Our facility includes a snack bar where customers can purchase a variety of snacks and non-alcoholic beverages. We also offer catering options for private events and parties, making it convenient for guests to enjoy refreshments during the sport.
Safety & Training
Safety is our top priority, so every customer is provided with safety gear including helmets and wrist guards. Our certified coaches conduct safety briefings and provide one-on-one training to ensure that everyone understands proper throwing techniques and rules.
Membership Programs
We offer membership programs for enthusiasts who want to enjoy regular access to our facilities, discounted rates, and exclusive perks. Memberships can be customized to suit individual preferences.
At Timber Targets, we are dedicated to delivering a safe, entertaining, and thrilling axe-throwing experience for all our customers. Our wide range of services ensures that whether you’re a seasoned axe-thrower or trying it for the first time—you are welcome here.
5. Marketing Strategies
A solid marketing strategy is important to advertise the services and this section should include everything about how will you attract and retain customers. Below is an example of the marketing and sales strategies section of an axe-throwing business plan.
Timber Targets focus on building brand awareness, and driving customer acquisition & retention. Here are the key marketing strategies we will use:
Digital presence
We will create a user-friendly website that displays our services, pricing, and special events. It will also offer an online booking system so that customers can book directly.
Apart from the website, we will be active on all popular social media platforms to engage with our customers, share event updates, and convey offers or discounts when any.
SEO
We will work on local Search Engine Optimization (SEO) to ensure our website ranks high on SERPs when potential customers search for axe-throwing in Denver.
Pay-per-click advertising (PPC)
Running targeted PPC campaigns on platforms like Google Ads will help us reach a wider audience quickly. We will manage ad spending to maximize ROI while attracting potential customers.
Content marketing
We will create valuable and engaging content, such as blog posts, videos, and tutorials, related to axe-throwing. This content will not only showcase our expertise but also help with SEO and social media engagement.
Online reviews and reputation management
Encourage satisfied customers to leave positive reviews, which we will post on all social media platforms. We will actively respond to reviews, both positive and negative, to display our commitment to customer satisfaction.
Customer loyalty program
Implementing a loyalty program with rewards for repeat customers can encourage frequent visits and referrals. Here we will offer discounts, free sessions, or invitations to any exclusive events.
Seasonal and special promotions
We will create different promotions and events tied to holidays or festivals will attract a wider audience and keep the experience fresh for returning customers.
By combining these marketing strategies, Timber Targets aims to build a strong online and offline presence, engage our target audience, and establish ourselves as the premier axe-throwing destination in Denver, Colorado.
6. Operations plan
The operations plan outlines the key aspects of running an axe-throwing business effectively. Here is the operations plan for Timber Targets axe-throwing business plan:
Facilities
Our axe-throwing facility has multiple lanes with sturdy and safety-tested targets. We will equip each lane with safety barriers, including nets, to prevent axes from causing any harm.
Equipment
We will invest in high-quality throwing axes and safety gear, including helmets and wrist guards.
We will conduct regular maintenance and inspection of all equipment to ensure safety and functionality. Our facility also has a designated area for storing axes and equipment securely.
Staffing
Timber Targets will employ certified axe-throwing coaches to provide safety briefings, training, and guidance to all our customers.
Apart from coaches, we will hire front-of-the-house staff to manage customer check-ins, bookings, and inquiries.
Safety measures
Timber Targets is going to stick to strict safety protocols, including mandatory safety briefings to all participants.
Our coaches will monitor whether each customer is following all the safety rules or not, ensuring they throw the axes with a proper technique.
Emergency response procedures will be in place, including first-aid kits and staff training in CPR and basic first aid.
Customer service
For us, exceptional customer service is the top priority in enhancing our customers’ experience. Our staff will be trained to assist with bookings, guide new customers, and address any problem instantly.
We will ask for customer feedback actively to understand our services and act on that.
Operating hours
Timber Targets will have flexible operating hours to accommodate various customer preferences and group bookings.
We will be open every day in the evening & night and all day during weekends.
Reservation system
We will implement an online reservation system to smooth the booking process and help customers secure their preferred time slots.
Besides, we will also accept bookings from walk-in customers based on lane availability.
Inventory
We will maintain an inventory of axes, safety equipment, and other supplies to meet customer demand.
Regular inventory checks will ensure that we always have sufficient equipment on hand.
Compliance
Timber Targets will comply with all local, state, and federal regulations, including safety, health, and licensing requirements.
By following this comprehensive operations plan, Timber Targets aims to provide a safe, enjoyable, and memorable axe-throwing experience for our customers in Denver.
7. Financial plan
The financial plan outlines the financial projections, funding requirements, and revenue strategies needed to ensure the successful operation and growth of any business. Below is an example of an axe-throwing financial plan section:
Financial assumptions
- The revenue and expense projections are based on market research, industry trends, and anticipated customer demand.
- We assume a steady increase in customer traffic as awareness of our business grows.
- Loan interest rates and terms have been factored into the financial projections.
- We have considered potential economic fluctuations and have a contingency plan in place.
Startup Costs
- Facility Setup: $200,000 – It covers leasing and renovating the facility. It also includes purchasing safety barriers, nets, and lane equipment.
- Equipment: $30,000 – These funds will be used to purchase throwing axes. safety gear, and maintenance tools.
- Marketing and Promotion: $20,000 – It covers initial marketing campaigns, website development, and promotional materials.
- Staffing and Training: $50,000 – These funds will be used for employee salaries, initial training, and hiring costs.
- Operating Capital: $100,000 – To cover initial operating expenses, such as rent, utilities, and insurance, until the business becomes profitable.
Total Startup Costs: $400,000
Funding Requirements
To cover our startup costs and initial operating expenses, we will secure funding through a combination of sources:
- Owner’s Investment: $100,000
- Bank Loan: $200,000
- Investor or Partners Capital: $100,000
Total Funding Required: $400,000
Financial statements
Projected profit-and-loss statement
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Revenues: | |||
| Axe-Throwing Sessions | $250,000 | $400,000 | $600,000 |
| Private Events | $30,000 | $60,000 | $90,000 |
| Merchandise Sales | $5,000 | $8,000 | $12,000 |
| Food and Beverage Sales | $15,000 | $30,000 | $45,000 |
| League Play | $10,000 | $20,000 | $30,000 |
| Other Revenues | $5,000 | $10,000 | $15,000 |
| Total Revenues | $315,000 | $528,000 | $792,000 |
| Cost of Goods Sold (COGS): | |||
| Cost of Axe-Throwing Sessions | $50,000 | $80,000 | $120,000 |
| Cost of Private Events | $18,000 | $36,000 | $54,000 |
| Cost of Merchandise Sales | $2,500 | $4,000 | $6,000 |
| Cost of Food and Beverage Sales | $7,500 | $15,000 | $22,500 |
| Cost of League Play | $5,000 | $10,000 | $15,000 |
| Cost of Other Revenues | $2,500 | $5,000 | $7,500 |
| Total COGS | $85,500 | $150,000 | $225,000 |
| Gross Profit: | $229,500 | $378,000 | $567,000 |
| Operating Expenses: | |||
| Rent | $60,000 | $72,000 | $90,000 |
| Payroll | $60,000 | $90,000 | $120,000 |
| Marketing and Promotion | $20,000 | $30,000 | $40,000 |
| Utilities | $6,000 | $7,200 | $9,000 |
| Insurance | $4,000 | $4,800 | $6,000 |
| Equipment Maintenance | $2,000 | $2,400 | $3,000 |
| Other Operating Expenses | $4,000 | $6,000 | $8,000 |
| Total Operating Expenses | $156,000 | $212,400 | $276,000 |
| Interest Expense: | -$10,000 | -$15,000 | -$20,000 |
| Income Tax Expense: | $0 | -$15,392 | -$34,676 |
| Total Variable Expenses | $0 | $135,208 | $255,324 |
Projected Balance Sheet
| Year 1 | Year 2 | Year 3 | |
|---|---|---|---|
| Assets | |||
| Current Assets | |||
| – Cash and Cash Equivalents | $63,500 | $135,208 | $255,324 |
| – Accounts Receivable | $10,000 | $15,000 | $22,500 |
| – Inventory | $3,000 | $4,500 | $6,750 |
| Total Current Assets | $76,500 | $154,708 | $284,574 |
| Fixed Assets | |||
| – Property and Equipment | $200,000 | $240,000 | $300,000 |
| Total Assets | $276,500 | $394,708 | $584,574 |
| Liabilities | |||
| Current Liabilities | |||
| – Accounts Payable | $10,000 | $16,000 | $24,000 |
| – Short-term Loans | $50,000 | $25,000 | $0 |
| Total Current Liabilities | $60,000 | $41,000 | $24,000 |
| Long-term Liabilities | |||
| – Bank Loan | $100,000 | $100,000 | $100,000 |
| Total Liabilities & equity | $276,500 | $394,708 | $584,574 |
Projected Cash Flow Statement
| Description | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Net Cash Flow from Operations | |||
| Net Profit Before Tax | $0 | $135,208 | $255,324 |
| Adjustments for: | |||
| Depreciation | $10,000 | $12,000 | $15,000 |
| Changes in Working Capital |
|||
| Increase in Accounts Receivable | -$10,000 | -$5,000 | -$7,500 |
| Increase in Inventory | -$1,000 | -$1,500 | -$2,250 |
| Increase in Accounts Payable | $10,000 | $8,000 | $12,000 |
| Interest Paid | -$10,000 | -$15,000 | -$20,000 |
| Income Tax Paid | $0 | -$15,392 | -$34,676 |
| Net Cash Flow from Operations | $9,000 | $118,316 | $218,398 |
| Cash Flow from Investing: | |||
| Purchase of Property & Equipment | -$200,000 | -$40,000 | -$60,000 |
| Net Cash Flow from Investing | -$200,000 | -$40,000 | -$60,000 |
| Cash Flow from Financing: | |||
| Owner’s Investment | $100,000 | ||
| Short-term Loan Proceeds | $50,000 | $25,000 | $0 |
| Bank Loan Proceeds | $100,000 | ||
| Net Cash Flow from Financing | $250,000 | $25,000 | $0 |
| Net Change in Cash | $59,000 | $103,316 | $158,398 |
| Cash at Beginning of Year (Cumulative) | $0 | $59,000 | $162,316 |
| Cash at End of Year (Cumulative) | $59,000 | $162,316 | $320,714 |
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