Browsing Golf Industry NewsVIEW ALL

FunLab hits milestone of $100m in revenue

POSTED ON December 2, 2018 @ 11:27 am

The doors of Holey Moley, Australia’s first cocktail bar and mini-golf course opened in 2016 in Melbourne, and since then another 12 stores have opened across the country. The bars are the work of entertainment giant Funlab, the parent company of bowling business Strike Bowling and trampolining business Sky Zone.

Schreiber, FunLab’s chief executive officer, founded Strike in 2002 and scaled the business to over 15 locations across the country before venturing into the trampolining market in 2012. A few years later, Schreiber decided to establish Strike under the umbrella of FunLab, with the goal of evolving the company to have a number of entertainment brands both locally and abroad.

FunLab has just recently celebrated the milestone of hitting $100 million in revenue, coupled with a forecasted 45% growth in its EBITDA for the coming financial year. Speaking to SmartCompany, Schreiber doesn’t shy away from the company’s dogged focus on the millennial market.

“We’ve found what’s resonating with the millennial market is reinventing fun pastimes and making them a great social experience. That thread runs through all our concepts, focusing on that social interaction between 18- to 35-year-olds,” he says.

Along with Holey Moley, FunLab has also opened two new brands with a millennial bent: Archie Brothers Cirque Electriq, an all-in-one indoor boozy amusement park, and B. Lucky & Sons, an arcade and games bar in Melbourne.

With over 35 FunLab venues in Australia, the business is now looking further afield, setting up bars in both New Zealand and Singapore. The business is forecasting $130 million in revenue next year, with Schreiber saying experiences are looking like the future of entertainment retail.

Source: smartcompany

Comments are closed.


CLICK HERE TO Sign Up for the GIC Newsletter for all the latest Industry News.

Grow the Game Central Golf Recruitment Central Golf Marketing Central

Strathfield Golf Club returns as inner Sydney’s premier go...

By Mathilda Andersson Sitting in the lawyer’s office...

Yangtze Dunes re-opens after renovation by Aussie firm OCCM...

Yangtze Dunes, the newly renovated 18 here at...

Shortland Waters GG sold to retirement village developer for...

Shortland Waters Golf Club members say they feel “dudded”...

Innovation in focus at NZ Golf Managers Conference...

Last month Golf Managers New Zealand (GMANZ) 8th Biennial Conference took place in the world’s adventure capital Queenstown, NZ, and gathered golf...

Ian Baker-Finch’s Open triumph leaves lasting legacy for ch...

Ian Baker-Finch, who enjoyed a memorable triumph at The Open in 1991, is to donate $50,000 to charities in Australia and the...

Longyard golf course development plans blocked by council...

TAMWORTH Regional Council has stopped a $6.25 million over-50s village from being built around the Longyard golf course. Councillors voted unanimously to...

SEEK: Inclusive Golf Coach – Empower Golf...

Part Time Position : Inclusive Golf Coach Empower Golf is Australia’s premier multi disability inclusive golf organisation, with it’s office located in...

Troon founder to step down as CEO, remain as Chairman...

Dana Garmany, the founder of Troon, the world’s leading golf course management company, announced yesterday that he will be...

Royal Melbourne voted 6th most exclusive Golf & Country Club...

One of Australia’s oldest golf clubs, Royal Melbourne, have received the ultimate recognition when making the list (#6) of...

Cam Ranh Scores Major Win at Asian Golf Awards...

One of Vietnam’s newest golf courses, KN Golf Links – Cam Ranh, made a stellar debut at the 2018...

China Raid Nets 29,000 Pieces of Counterfeit Golf Equipment...

The US Golf Manufacturers Anti-Counterfeiting Working Group (The Golf Group) has announced the largest single seizure in the past...

GIC Summer E-Magazine OUT NOW!

This Summer issue will recap the year behind us and take you around the region and give insight to...

Tiger Woods and Discovery’s GOLFTV Announce Exclusive Partnersh...

In a major development as part of the strategic partnership between Discovery, Inc. and the PGA TOUR, GOLFTV has...