The family entertainment industry has experienced a significant surge in popularity with a notable increase in locations across the globe. In today’s digital age where children are typically absorbed in their smartphones, parents are actively seeking activities that not only capture their children’s’ interest but also keeps them physically active, social, and engaged. Family entertainment centers have emerged as a solution to this challenge, seamlessly integrating trampolines, gaming, and more to provide a dynamic environment for kids to have fun all while keeping them moving.
The industry’s undeniable growth is exemplified by Altitude Trampoline Park, which, since its inception in 2012, has achieved remarkable success, boasting nearly 100 locations worldwide while expanding its footprint into new markets throughout the world. Throughout 2023 alone, Altitude was able to establish a presence within target markets including Arizona, Georgia, Argentina, Pennsylvania, Florida, and more. As the family entertainment industry continues to flourish, prospective franchisees may want to consider the opportunity to add this sector to their portfolio.
Family Entertainment Experiences Growing Demand
The increasing popularity of family entertainment centers reflects the changing preferences of consumers seeking active and inclusive experiences. The global family entertainment centers market, valued at $30.9 billion in 2022, is projected to reach $88.7 billion by 2032 with a compound annual growth rate (CAGR) of 11.5%. In a generation where children are increasingly immersed in the digital world, family entertainment centers play a crucial role in keeping them social and active, all while maintaining their engagement.
Family entertainment centers offer a diverse range of activities that keep kids entertained and allows them to play in-person alongside other kids. Parents benefit from a supervised and secure environment, ensuring their children’s safety. Moreover, family entertainment centers serve as ideal venues for private parties and events, providing an exciting space for birthdays and other celebrations.
Altitude offers comprehensive birthday party and special events packages. These packages include two hours of unlimited jump time and access to all attractions, such as trampolines, playgrounds, basketball, dodgeball, interactive games, and more. Many families are gravitating towards venues like Altitude to host various children’s events, as this type of venue encourages children to get out of the house and play with their friends while being in a safe and supervised environment to prevent any hazard.
Closing Out a Monumental 2023
Altitude’s remarkable journey in 2023 is a testament to the thriving success of the family entertainment industry. Throughout the year, Altitude achieved significant milestones, securing 25 franchise agreements. The brand is actively expanding its global reach, solidifying its position as a leader in the family entertainment industry in the U.S. and beyond. Altitude’s consistent growth and success makes it an attractive investment opportunity for prospective franchisees, with numerous operators having seized the opportunity to join the Altitude family in 2023.
The year consisted of notable development for Altitude and this momentum seamlessly transitioned into 2024, setting the stage for another monumental year. In 2024, Altitude anticipates nearing closer to its target of 100 units, with a series of grand openings in the pipeline. Currently, Altitude has eight units leased and under construction with plans for 12 units to open throughout the year. Plus, Altitude is eager to sign even more franchise agreements this year and welcome more owners to the Altitude family.
Part of what makes Altitude so successful is the popularity of its membership program that adds an affordable dimension to jumping and provides a steady revenue stream for franchise owners. The $10 Endless Jumps Membership program allows children unlimited access to Altitude’s attractions for a fixed monthly price, encouraging families to engage in year-round fun together.
Altitude remains dedicated to providing a fun and safe environment for families, evident in its growing customer base and the positive guest experience it consistently delivers. As Altitude extends its presence worldwide, the brand remains steadfast in its commitment to becoming a premier destination for family-friendly entertainment. Since launching over a decade ago, Altitude is appreciative to have had tremendous growth with the demand for family entertainment centers continuing to skyrocket.
The Future of Family Entertainment
In the years ahead, the family entertainment industry will continue to flourish, driven by the ongoing need for supervised activity spaces for kids. While the demand remains strong, the challenge lies in diverting kids away from home technology. To meet this challenge, family entertainment spaces must integrate technology and gamification to create engaging spaces that keep kids coming back.
This industry is undergoing a significant transformation fueled by the latest technological trends. The integration of gamification in entertainment parks is crucial. It ensures that kids stay socially engaged and physically active without losing their interest. Recognizing this, entertainment parks globally are incorporating gamification to stay relevant in today’s market.
More and more family entertainment centers will open in the years to come, increasing its accessibility. Altitude in particular has become a go-to destination for family-friendly fun and is dedicated to expanding its footprint even further to make its attractions accessible to all families. Affordability will also be key to survive in the years to come, with many families choosing Altitude for its affordable membership options.
Now is the time for prospective franchise owners to invest in the family entertainment industry. It’s a booming sector with the ability to achieve a strong return on investment. Supervised activity spaces are continuing to rise in popularity with technology and gamification enhancements making it even more appealing to customers. Altitude’s impressive growth and success showcases the profitability of the industry as the brand continues to make a presence across the globe. 2024 is expected to be another exciting year for the brand with several units preparing for launch. Altitude is actively seeking qualified candidates to contribute to its continued growth with expansion targeted growth in Kansas City, Minneapolis, Las Vegas, Denver, and others. Now is an ideal time for individuals to join Altitude in shaping the future of family-friendly entertainment.