![How to plan and track the budget of your VR escape room [template]](http://onlineyougrow.com/cdn/shop/articles/cov-budget-1_9f48d023-e740-40ef-b62d-454e47230def.png?v=1715856501&width=1100)
If you don’t plan and track your virtual reality escape room budget properly, you're setting yourself up for failure.
When we developed our strategy pack for VR escape room owners, we saw a lot of business owners struggling with finances and planning.
They were disorganized, had no grasp of cash flow, and were drowning in financial troubles despite having substantial bookings.
Don’t let this be you—stand out and succeed.
We’ve created a small, free tool to help you get started: our Budget Tracker and Planner. Let’s turn your VR escape room's finances around and set you on the path to success!
Get the budget tracker tailored for escape rooms
Most VR escape room owners don't know how to plan and track their budget. This spreadsheet will help you.
Example of a full budget for escape rooms
Here is an example of a (very) detailed budget for a virtual reality escape room, to give you some inspiration
1. Rent and Utilities
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Rent | Lease for VR escape room space | $4,000 | $48,000 |
| Electricity | Power consumption for VR equipment and lighting | $600 | $7,200 |
| Water | Water usage for restrooms and staff | $100 | $1,200 |
| Internet & Phone | High-speed internet service and business phone | $200 | $2,400 |
| Waste Removal | Garbage and recycling services | $100 | $1,200 |
| Insurance | Property and liability insurance | $400 | $4,800 |
2. Salaries & Wages
| Position | Number of Employees | Monthly Cost per Employee | Total Monthly Cost | Annual Cost |
|---|---|---|---|---|
| Game Master | 2 | $3,000 | $6,000 | $72,000 |
| Technician | 1 | $3,500 | $3,500 | $42,000 |
| Customer Service | 2 | $2,500 | $5,000 | $60,000 |
| Manager | 1 | $4,000 | $4,000 | $48,000 |
3. VR Equipment & Maintenance
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| VR Headsets | High-quality VR headsets | $1,000 | $12,000 |
| Computers | High-performance computers for VR | $800 | $9,600 |
| Software Licenses | Licenses for VR escape room software | $500 | $6,000 |
| Maintenance | Regular maintenance of VR equipment | $300 | $3,600 |
| Cleaning Supplies | Sanitizers and cleaning supplies for VR gear | $100 | $1,200 |
4. Marketing & Advertising
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Online Advertising | Google Ads, Facebook Ads, etc. | $400 | $4,800 |
| Social Media Management | Managing social media accounts | $600 | $7,200 |
| Print Advertising | Flyers, posters, newspaper ads | $150 | $1,800 |
| Website Maintenance | Hosting, domain, updates | $100 | $1,200 |
| Email Marketing | Email campaigns and newsletters | $200 | $2,400 |
| Promotional Events | Special events and promotions | $300 | $3,600 |
5. Miscellaneous Expenses
| Item | Description | Monthly Cost | Annual Cost |
|---|---|---|---|
| Office Supplies | Stationery, pens, printer ink, etc. | $100 | $1,200 |
| Uniforms | Staff uniforms | $150 | $1,800 |
| Licenses & Permits | Business licenses and permits | $100 | $1,200 |
| Contingency Fund | Emergency repairs and unexpected costs | $500 | $6,000 |
| Staff Training | Training programs and materials | $200 | $2,400 |
Some escape rooms make 5x more profit than you!
We have studied the strategies of the best escape rooms in the world. Replicate them now!
What are the biggest expenses for a virtual reality escape room?
Be careful with these pitfalls. Here are five major costs every virtual reality escape room owner needs to consider, along with some tips on how to handle them wisely.
- VR Equipment and SoftwareThese can consume a significant portion of your budget. You're dealing with high-tech gear and software licenses that can fluctuate in price based on advancements and demand. To keep these costs in check, focus on purchasing reliable, durable equipment, negotiate better deals with suppliers, and regularly update your software to avoid obsolescence. Finally, it's easy to overspend by buying the latest gadgets that don’t add enough value to the experience.
- Your StaffYour team is your backbone, but paying for their wages, benefits, and training can be expensive. This cost is always high because you need a certain number of employees to provide excellent customer service and keep things running smoothly. You can optimize labor costs by scheduling efficiently, cross-training staff, and monitoring productivity. However, be careful not to underpay or overwork your staff, as this can lead to high turnover and poor service.
- Rent and Utilities of Your FacilityPrime locations come with high rent, but they can attract more customers. Utilities like electricity, internet, and water are essential but add up quickly. To optimize these costs, negotiate favorable lease terms and invest in energy-efficient appliances and lighting. Overspending often happens when you choose a location that's too big or too fancy for your needs.
- MarketingYou need to get the word out about your VR escape room, but advertising can be pricey, whether it's online ads, social media campaigns, or traditional media. Optimize this expense by focusing on cost-effective methods like the ones we give in our pack. Overspending can happen if you invest in flashy campaigns without a clear return on investment.
- Room Setup and Maintenance CostsThis includes everything from VR headsets to room decor and interactive elements. These are expensive because quality equipment and regular maintenance are crucial for smooth operations and customer satisfaction. Optimize by investing in durable, energy-efficient equipment and maintaining it regularly to avoid costly breakdowns. You can overspend by going for the latest high-tech gadgets you don’t really need.
How to spend less with your VR escape room?
Here are practical tips to help you, as a virtual reality escape room owner, optimize your budget and manage expenses more effectively.
| Expense | Tips to Optimize |
|---|---|
| VR Equipment | Partner with VR hardware suppliers for bulk discounts and consider leasing equipment to reduce upfront costs. |
| Software Licensing | Negotiate with software developers for multi-license deals and explore open-source options where possible. |
| Labor Costs | Implement a scheduling software to optimize staff hours and reduce overtime. Cross-train employees to handle multiple roles. |
| Utilities | Install energy-efficient lighting and HVAC systems to reduce electricity costs. |
| Marketing | Run social media contests for your VR escape room and collaborate with local influencers for free exposure. |
| Cleaning Supplies | Train staff on efficient use of cleaning supplies to reduce waste and ensure VR equipment is sanitized properly. |
| Equipment Maintenance | Set up a maintenance log for regular equipment checks and servicing to extend the lifespan of your VR gear. |
| Rent/Mortgage | Negotiate lease terms during renewal or consider moving to a less expensive location with good foot traffic. |
| Insurance | Regularly review insurance policies to ensure they meet current needs and compare rates annually. |
| Decor and Props | Use cost-effective, durable materials for room decor and props. Consider DIY options for unique, custom pieces. |
| POS System | Choose a POS system that offers essential features with low transaction fees and integrates with other systems. |
| Staff Training | Conduct regular in-house training sessions and use free online resources to keep staff updated on the latest VR technologies. |
| Waste Management | Implement a waste tracking system to minimize waste and recycle materials where possible. |
| Technology | Invest in multi-functional VR systems and utilize management software for bookings and customer feedback. |
| Uniforms | Choose durable, easy-to-clean uniforms and offer staff a stipend for maintenance instead of using an external service. |
| Licensing and Permits | Stay up-to-date with local regulations to avoid fines and costly renewals. |
| Transportation | Plan delivery routes for any mobile VR setups to maximize efficiency and reduce fuel costs. |
| Office Supplies | Purchase supplies in bulk and go paperless where possible with digital booking and management systems. |
| Inventory Management | Use inventory management software to track stock levels of VR equipment and props to reduce spoilage and loss. |
| Pest Control | Schedule monthly pest control services and maintain cleanliness standards to prevent infestations. |
| Music and Sound Effects | Use a streaming service for background music and sound effects, and consider hiring local sound designers for custom audio experiences. |
Copy the tactics of the best escape rooms in the world!
There are escape rooms that make way more money than you do. We have studied their tactics. Get them now!
Expenses that are just useless for a virtual reality escape room
Yes, some expenses for your virtual reality escape room are just unnecessary. They don't contribute to enhancing the experience or increasing revenue.
| VR Escape Room Expense | Reason It's Useless |
|---|---|
| Overly Complex VR Headsets | High-end VR headsets with features that aren't utilized in your games can be a waste of money. |
| Premium Game Licenses | Unless you are targeting a niche market, most players are satisfied with mid-range game options. |
| Excessive Game Variety | Offering too many different games can increase maintenance costs and confuse customers. |
| High-End Furniture | Luxury seating and decor in the waiting area are often not appreciated by customers and can be a significant expense. |
| Paper Advertising | Traditional paper ads often have a lower return on investment. Don’t include them in the marketing strategy of your VR escape room. |
| Multiple Uniform Styles | Having various uniform styles for staff increases costs without adding significant value to the customer experience. |
| Excessive Staff | Overstaffing leads to higher labor costs without necessarily improving service quality. |
| Premium Subscription Services | Expensive subscriptions for music or magazines in the waiting area often go unnoticed by customers. |
| Exclusive Game Content | Using rare or exclusive game content can inflate costs and complicate licensing agreements. |
| Costly Furniture | High-end furniture in the game rooms is not always appreciated by customers and can be a significant expense. |
| Custom Printed Merchandise | Personalized merchandise like T-shirts or mugs are a minor detail that most customers overlook, and they can be expensive. |
| Unnecessary Software | Paying for software with features you don’t use is a waste of resources. |
| Premium Water Brands | Most customers are content with filtered tap water, making expensive bottled water unnecessary. |
| Extra VR Equipment | Maintaining more VR headsets and controllers than needed increases operational costs. |
| Excessive Membership Fees | Paying for multiple industry memberships often yields little benefit. |
| Overly Frequent Renovations | Constantly updating decor and layout can be costly and disrupt operations. |
| Expensive Room Decorations | Elaborate decorations in the game rooms are often ignored by customers and add to the cost. |
| High-End Controllers | Luxury VR controllers are prone to damage and expensive to replace, often going unnoticed by customers. |
| Excessive Staff Meetings | Too many meetings can reduce productivity and increase labor costs. |
| Expensive Game Designs | Frequently redesigning game scenarios is costly and often unnecessary. |
| Unused Promotional Materials | Ordering more promotional items than needed leads to waste and unnecessary expense. Get our marketing budget planner template. |
| Paid Directory Listings | Many free listing options are available, making paid listings often redundant. |
| High-End Catering Equipment | Specialized catering equipment for events is often unnecessary and adds to costs without a proportional benefit. |
Stop working with a tight budget for your VR escape room!
Managing a budget for a virtual reality escape room when funds are tight can feel like a nightmare. It's like being trapped in a puzzle where any unexpected expense can throw you off course.
This constant pressure makes it nearly impossible to invest in new experiences or technology, leaving you always scrambling to cover costs. It's a life filled with stress and sleepless nights.
Yes, you can continue down this path, piecing together small savings and barely making ends meet. But there's another part of the equation you might be overlooking. Instead of just trying to cut costs, you can focus on growing your revenue. More income means more flexibility and more resources to enhance your escape room experiences.
And no, you don't necessarily have to spend money to grow. There are plenty of zero-cost initiatives and strategies that can help you increase your revenue by 10%, 20%, or more. We've detailed all of these strategies in our guides, after studying dozens of virtual reality escape rooms just like yours. Get them now!
Make your VR escape room more profitable
We have studied the strategies of the best escape rooms in the world. All their tactics are explained in our pack!
