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Favourable growth in the number of individuals aged 17 and younger, which accounts for the largest share of industry revenue, coupled with more families allocating their limited leisure time toward family activities, will spur industry revenue growth. For these reasons, industry research firm IBISWorld has added a report on the Golf Driving Ranges and Family Fun Centres industry to its growing industry report collection.
New York, NY (PRWEB) August 17, 2014
The Golf Driving Ranges and Family Fun Centres industry has grappled with high fixed operational costs, coupled with volatility in consumer attendance rates, which has hampered industry revenue growth over the past five years. According to IBISWorld Industry Analyst Sarah Turk, with leisure time declining over the five years to 2014, industry operators have struggled to attract time-strapped consumers due to mounting competition from other leisure activities, such as movie theatres and bowling alleys. Nevertheless, golf driving ranges have benefited from consumers having less leisure time, which can be attributed to golf driving ranges enabling individuals to practice their golf swing with less time required, compared with playing nine to 18 holes on the golf course. To mitigate competition from other leisure activities, such as at home video games, many family fun centres have moved away from video games to redemption oriented gaming, which dispense tickets that patrons can use to purchase merchandise.
While this trend has caused the industry to incur substantial costs related to updating old gaming technologies, the industry still has been poised favourably for growth over the next five years. Nevertheless, as many Canadian municipalities have allocated urban land toward industrial and office spaces, rather than for retail spaces and industry establishments, many operators have contended with limited space for their establishments. Furthermore, this trend has slightly constrained operators' ability to locate in proximity to large retailers, such as shopping malls, which typically drives customer traffic to industry establishments. Due to this trend, industry revenue is expected to over the five years to 2014, Profit is also expected to contract in 2014. This is largely due to many golf diving ranges and family fun centres offering more promotions, such as coupons and discounted pricing for off-season admission tickets, which have cut into industry profitability, says Turk.
In the five years to 2019, industry revenue is forecast to grow. Favourable growth in the number of individuals aged 17 and younger, which accounts for the largest share of industry revenue, coupled with more families allocating their limited leisure time toward family activities, will spur industry revenue growth.
For more information, visit IBISWorlds Golf Driving Ranges and Family Fun Centres in Canada industry report page.
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IBISWorld industry Report Key Topics
The Golf Driving Ranges and Family Fun Centres industry provides recreational and amusement services through a variety of establishments, including golf driving ranges, miniature golf centres, go-kart racetracks, batting cages, family fun centres, recreational sports leagues and a wide assortment of outdoor recreational activities. The industry excludes arcades, themed amusement parks, gambling facilities, golf courses, country clubs, skiing facilities, marinas, fitness and recreational sports centres and bowling alleys.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nations most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US and Canadian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.
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