Sandbox VR, the operator of a chain of location-based virtual reality experiences, plans for a big expansion with franchisees.
The company said it saw 60% growth in franchise deals in the second with plans to open 280 new franchise locations in the next four years.
This announcement comes on the heels of opening Sandbox VR’s 50th store on August 15. Located on the Gold Coast, the new location is the first Sandbox VR in Australia, expanding its global presence to four continents and nine countries.
Since opening its first store in Hong Kong in 2017, Sandbox VR has rapidly grown its global footprint with thriving corporate-owned locations and a robust franchising program. Today, its global locations see over 100k players monthly.
Join us for GamesBeat Next!
GamesBeat Next is connecting the next generation of video game leaders. And you can join us, coming up October 28th and 29th in San Francisco! Take advantage of our buy one, get one free pass offer. Sale ends this Friday, August 16th. Join us by registering here.
In 2023, the company topped 1.2 million tickets sold and has seen a 33% year-over-year increase in 2024 ticket sales. Sandbox VR’s corporate locations—37 in total—hit a revenue milestone with an average store topping $1.9 million annually.
Sandbox VR’s franchise program launched in 2019 for international markets and opened up for U.S. territories in April of this year. In those four months, 33% of available Sandbox VR U.S. franchise territories have been claimed by new and existing franchise partners.
Franchising has been instrumental in making Sandbox VR the fastest growing location-based VR startup
globally, and this U.S. momentum signals continued rapid growth, the company said. Limited opportunities for prime locations and territory exclusivity are still available in the U.S.
“When I started building Sandbox VR, I set out to build the future of entertainment. I never would have succeeded without the right team of people helping me build the world’s most immersive experiences using bleeding edge virtual reality technology.” said Steve Zhao, CEO of Sandbox VR, in a statement. “As we set our sights on expanding globally, we know it’s critical to work with the right partners.”
Zhao added, “We are thrilled to announce the 50th Sandbox VR location in collaboration with our franchise partners, Bao Phung and Keith Le, and look forward to working with passionate franchise partners from around the globe to open hundreds more in the next four years.”
Sandbox VR’s United Kingdom and Ireland franchise partner, VR Entertainment Group, is proof of the strength of the Sandbox VR franchise program, the company said. Since launching its first store in London in July 2022—and its second in Birmingham a year later— it has surpassed $10 million in revenue.
“We considered a different location-based virtual reality company when it came to exploring our franchise opportunities but ultimately determined that we wanted to partner with Sandbox VR, the leader in the category,” said Bao Phung, owner of Sandbox VR Gold Coast, in a statement. “Partnering with Sandbox VR was the most advantageous and strategic decision for our business, allowing us to introduce Australia to immersive games you can’t play anywhere else on the world’s most immersive full-body VR platform. The Gold Coast, which attracts 13 million visitors annually, is the natural choice for our first location. We look forward to introducing locals and visitors alike to a whole new reality.”
In London alone, VR Entertainment Group has seen a 16.8% increase in guests year-to-date and projects their 2024 revenue to top $5 million.
“I believe our success is due to the strength of our partnership with Sandbox VR,” said Andy Scanlon, CEO of VR Entertainment Group, in a statement. “Their world class VR, brand, and wider corporate team, with our local expertise and determination to build Sandbox VR into the leading immersive entertainment brand in the UK & Ireland, has led to a nexus delivering truly amazing experiences for our guests.”
Sandbox VR is creating the future of entertainment by building the world’s most immersive which captures the movements of a player’s entire body, combines with high-quality haptics to provide players with unprecedented realism and complete immersion that’s not possible with home VR or other location-based VR platforms. Guests’ own bodies act as their game controllers; all they have to do is step into the virtual world and participate in the action unfolding all around them.
All Sandbox VR experiences—eight in total—are developed by in-house gaming studios in Hong Kong and Vancouver, led by game industry veterans and are specifically designed for groups to play as social experiences. Teams of up to six freely roam and explore virtual worlds together, while relying on each other to succeed.
Source link
