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Copy of GAME TRUCK
Transcript of Copy of GAME TRUCK
patented (many others either dropped the entire business or sold it to Novis)
since beginning franchise has exploded
4 yrs, 64 franchise units
named by entrepreneur.com as "one of the fastest growing franchises in the industry (moved up 167 spots in 1 year)
Mobile Gaming Theater
Games Played Most Often
History and Development
founded in 2008
"unnamed pizza arcade"
World's first video game truck
created in Tempe, AZ
All multi-player games
What is a game truck?
Fun on Wheels!! It's a party truck for everyone.
Best-Selling Video Game Super
Genres by Units Sold (2010)
U.S. Computer and Video Game
Dollar Sales Growth ($Billions)
58% of Americans play video games
Consumers spent $20.77 billion on video games, hardware, and accessories
Number of Growing Franchise Units
Startup Costs, Ongoing Fees and Financing
Senior VP of Franchising
Joined the Senior Management Team on January 1 2010
Mike heads up the GameTruck Franchise Licensing Department and direct the Development and Recruitment functions
Due to GameTruck rapid growth and expansion Mike was first hired as a consultant
Mike’s franchising experience dates back to the late 80’s. Owning and operating 2 franchised pizza parlors for 6 years, to serving as Vice President for a national franchise chain—Postal Annex Plus for 8 years
Most recently, Mike served as President and co-founded Z Gurus, INC, a franchise consultancy firm in San Diego
The average age of the most frequent game purchaser is 35 years old
Main market is children
secondary market Parents
young adult gamers
FEATURES & BENEFITS
Offers network gaming
Variety of games and systems
Parties for all ages
Offers Cold Stone Creamery & Blimpie coupons
6 46" T.V.s (inside and out)
16 player stations
different, "weird" for a coporate missions
Respect the game
Respect the video game lifestlye
The average game player is 30 years old and has
been playing games for 13 years
45% of all game players are women
51% of U.S. households own a
dedicated game console
36% of gamers play games on their smartphone, and 25% play games on their wireless device.
40-50 parties per month
Each party provides gross revenues averaging $310.00 (assuming you are charging $325 for parties Friday-Sunday, and $249 Monday thru Thursday)
This amounts to $12,400-$15,500 gross revenue per month
Total Investment: $119,500 - $310,500
Franchise Fee: $9,500
Ongoing Royalty Fee: 7%
Net Worth: $150,000
Liquid Cash Available: $60,000
CEO and Founder
Received Degrees in Electrical and Computer Engineering from Arizona State University
Spent several years working abroad to gain insight and exposure to the global economy
Received credit on the development of 13 video games with sales in excess of 20 million units sold and revenues of $500 million dollars
half a decade working in Motorola’s research labs helping develop graphics and display technologies
joined Rainbow Studios where he ascended to the position of VP of Development
Chief Operating Officer
Oversees the daily operations, business development and franchising
Bachelors in Sociology from the University of California at San Diego
MBA in Health Organization Management from Texas Tech University
Before joining GameTruck, David served as Vice President of Client Services for Ignite Technologies from 2000-2007
He was also CEO and Founder of Medical Internet Solutions, INC. A company that hosted applications to manage graduate medical education requirements
Worked for both Arthur Andersen Business Consulting and Accenture in their systems integration business unit
Also co-founded Navigate Consulting, INC, a company that developed and took to market two successful product, Dripcatcher and Garage Magnets
Strong Research background in market and product feasibility
WHAT DO YOU THINK OF GAME TRUCKS BASIC CONCEPT?
The basic concept is ingenious. The gaming industry has exploded in the past few decades creating a comfortable niche for the gaming truck to exploit. With the added convenience of mobility, Scott Novis has revolutionized the way parents and gamers throw parties. In addition, Parents have tried to find solutions for years to have a party minus the mess. The Game truck solves this problem for around the same amount you would have spent on decorations and activities to occupy the kids
Would you characterize Game Truck's potential market nationwide market small, medium or large? Would the concept work in the town where your college or university is located? Explain your answer.
The potential market for Game Truck would be medium because it is dependent upon the people who play video games. Based on statistics from the Entertainment Software Association, of the 300 million people in the U.S., 58% of Americans play video games (http://www.theesa.com/facts/gameplayer.asp).
The service has potential to be successful in my city because according to areaconnect.com, at least 57% of the Tampa population are families with children. Another 16% is made up of of college students. This area covers a large portion of the company's target market.
Discussion Question #3
What qualities do you think Game Truck looks for in prospective franchisees?
If you were a prospective franchisee, what questions would you ask the company as part of your due diligence process?
We think that Game Truck looks for potential owners that are enthusiastic, outgoing, and knowledgeable about the gaming industry and trends
We also think that Game Truck would want to place new franchises in locations that have large condensed populations
Discussion Question #4
What are all costs involved?
What unexpected events have you encountered over the life of the company?
Have you held parties for adults?
How often do you have to update games and game systems?
How much gas does it take per hour to run the game truck?
What size generator is necessary to run the entire truck?
How do you change games?
How are the games networked together?
Is the game truck only intranet or does it have access to the internet as well?
What do you offer in addition to game playing only?
What support do you offer for your franchisers
Is it for a limited time?
Address each of the rhetorical questions posed at the end of the case. Ask two challenges that are not mentioned in the case. Comment on how problematic each of the challenges are and whether you think the company will be able to successfully meet its challenges.
Is there a market for its mobile game studios beyond the staple kid’s party market?
As mentioned previously, the Game Truck is a parent’s dream. It is a self-controlled party for up to eight hours for up to 16 kids at a time. BUT
Game Truck can also target college students living in dorms.
As mention in the case study they can target corporations looking to have corporate parties.
Gaming companies can use the Game Truck services to unveil a new game at a gaming convention
Is Game Truck’s business model scalable utilizing the franchise concept?
Yes. The gaming industry is and has been a lucrative industry for years, so we believe that it is scalable because of the potential lifestyle entrepreneur looking to invest.
Command and Control
We see this as an issue because how would Game Truck regulate the franchisees from crossing into neighboring territory.
Guaranteed of the Quality of Services
We feel that because each Game Truck is operated independently, it would be hard of guarantee the services rendered from all the franchisees