Gaming arcades have been around for decades. But new technology has changed the type of activities that are available at these local businesses. In New Jersey, oasisVXR offers a unique spin on arcades — using virtual reality. Read about this interesting business concept in this week’s Small Business Spotlight. ??
What the Business Does
Offers fun virtual reality experiences.
Co-founder Todd Schobel told Small Business Trends, “Want to drive a 800 hp mazerati on the daytona raceway? Want to jump into a shark cage and have a 4000lb great white try to eat you? …You can at oasisVRX Virtual reality entertainment center, located inside Bell Works in Holmdel [New Jersey].”
Business Niche
Offering a large, all-inclusive experience.
Schobel says, “We have over 15 stations to play in and 4 state of the art motion seats. Families come from Brooklyn to Philadelphia to have fun.”
How the Business Got Started
To bring extra fun to their neighbors.
Schobel adds, “My partner Scott Burns and myself wanted to bring the magic of virtual reality to families across the state.”
Biggest Win
Bringing in lots of early customers.
Schobel explains, “We topped 1,000 customers after 90 days of opening. We market our business very well and we picked an amazing location. As your customers grow, so does your customer repeat rate.”
Biggest Risk
Lots of early spending.
Schobel says, “[We made a] large capital expenditure to bring the best of the best technology that quickly ate up our capital runway. [The] end result [was running] out of operating capital before the business was solvent.”
How They’d Spend an Extra $100,000
Market to potential partners.
Schobel says they’d like to bring in extra partners to open new locations in the future.
Favorite Quote
“Inspiration drives vision. Fuel it with passion and anything is possible…” -Todd Schobel.
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Image: oasisVXR
This article, “Spotlight: oasisVXR Puts an Interesting New Spin on Gaming Arcades” was first published on Small Business Trends
