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
Brookwater Golf & Country Club (1) Hero 13th hole

TROON: Golf Course Maintenance Cost...Optimizing In a New World

A PERSPECTIVE FROM TROON INTERNATIONAL’S DAVID LUNARDELLI Everyone’s...

parkwood village

JOB: General Manager of Golf - Parkwood Village (QLD)

The role An exciting opportunity is now available...

GMANZ conferance 2021

GMANZ/NZGCSA Summit and Fine Turf Seminar - Early Bird registrations now

Combined GMANZ/NZGCSA Summit and Fine Turf Seminar 13th...

Glenelg Golf Club appoints Van Der Veen Project & Construction Supervisor

Glenelg Golf Club appoints Van Der Veen

One of South Australia’s leading golf clubs, Glenelg Golf Club, has recently appointed experienced Course Designer and Project Manager Ryan Van Der...

Empower Golf announces dynamic partnership with FutureGolf

Empower golf

Empower Golf Australia has recently announced a dynamic partnership with FutureGolf, who provides Australia’s most value packed and flexible membership. Empower Golf...

Spike in golf memberships across NSW

Golf Club Membership Rising in NSW

COVID-19 may have derailed sporting activities for much of the community during 2020, but for golf, participation is booming across the State....

Newcastle Golf Club votes YES to new golf course masterplan

Newcastle golf club

At the Club’s Extraordinary General Meeting (EGM), held virtually on Wednesday 11th November 2020 in excess of 80% of the voting members...

European Tour and PGA Tour in New Partnership – John Clark to Retire

The European Tour and PGA Tour has unveiled a ‘strategic alliance’ that will see golf’s two major Tours explore...

CMAA’s 2021 World Conference and Club Business Expo to be held virtually

Marrickville golf course

The Club Management Association of America (CMAA) has announced the reinvention of its 2021 World Conference and Club Business...

Interview with Ba na Hills Golf Course General Manager Tim Haddon

Ba Na Hills Golf Club

Managed by IMG and designed by former World number 1, Luke Donald in association with IMG, the stunning Ba...

Pacific Coast Designed 9-hole development opened in Shimoga, Karnataka

Kimmane-Golf-Resort

Kimmane Golf Resort, a nine-hole development, designed by Pacific Coast Design in Shivamoga, North West Karnataka, is the newest...

Social Golf Australia’s Matthew Pitt talks about dealing with grief on the Woke Blokes podcast

Woke Bloke podcast with Matt

Recently, Managing Director of Social Golf Australia (SGA) was a guest on the Woke Blokes podcast to talk about...

Don't leave it too late, Have your golf club insurance reviewed before Christmas

time to check golf insurance before Christmas

Is your insurance coverage due soon? The insurance market has been under considerable stress in recent times as a...