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Golf Driving Ranges & Family Fun Centers in the US Industry Market Research Report from IBISWorld has Been Updated
  • USA - English


News provided by

IBISWorld

Aug 18, 2013, 04:00 ET

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Los Angeles, California (PRWEB) August 18, 2013 -- During the five years to 2013, the Golf Driving Ranges and Family Fun Centers industry is expected to grow at an average annual rate of 0.1% to $8.7 billion, though revenue declined 1.6% in 2013. The industry, which includes recreational and amusement services, like golf driving ranges and go-cart racetracks among other recreational operations, "experienced lower revenue growth during the recession but implemented cost-cutting strategies to maintain profit margins," according to IBISWorld industry analyst Sarah Turk.

The industry saw slight growth despite declining demand during the recession.

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An increase in gas prices, coupled with a decrease in disposable income, caused consumers to spend their disposable income locally. Overall, the recession caused per capita disposable income to decline at an annualized rate of 0.1% during the five years to 2013. Additionally, a stagnant growth rate of 0.0% in time spent on leisure and sports caused Golf Driving Ranges and Family Fun Centers industry demand to remain stable. However, positive factors did boost demand for the industry in spite of the recession. For example, "consumer confidence grew at an annualized rate of 6.0% in the five years to 2013, which reveals that consumers had a positive economic outlook, inciting them to spend rather than save their disposable income," says Turk. However, an increase in consumer spending will intensify competition from other industries.

Although the recession hindered many enterprises from entering the industry and firms from developing additional establishments, firms mitigated recession losses by cutting costs. Overall, 2008's 5.3% reduction in the workforce and a 1.6% drop in wages in 2009 allowed firms within the industry to retain high profit margins of 5.4% in 2008 and 4.2% in 2009, respectively. Despite per capita disposable income declining during the five years to 2013, growth in the number of adults aged 20 to 64 offset the negative impact. Market players such as CEC Entertainment Inc. used effective marketing strategies such as increasing coupon discounts to appeal to budget-savvy consumers.

The Golf Driving Ranges and Family Fun Center industry has a low level of concentration. The industry is highly fragmented and consists mainly of small businesses, with major players Dave & Buster’s and CEC Entertainment Inc. dominating. Most industry enterprises are independently owned and operate only one facility. The plethora of activities and services the industry encompasses also contributes to the high degree of fragmentation. Market concentration is expected to remain highly fragmented over the five years to 2018.

As the economy recovers, the industry will face heightened competition. To combat the decline in leisure activity, the industry has increased its appeal by investing in facility infrastructures, updating gaming systems with the latest technologies, and offering menus that cater to the health conscious and gluten-free consumer. Over the five years to 2018, revenue is forecast to increase.

For more information, visit IBISWorld’s Golf Driving Ranges & Family Fun Centers in the US industry report page.

Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189

IBISWorld industry Report Key Topics

This industry provides recreational and amusement services through a variety of establishments, including golf driving ranges, miniature golf centers, go-cart racetracks, batting cages, family fun centers, recreational sports leagues and a wide assortment of outdoor recreational activities. The industry excludes arcades, themed amusement parks, gambling facilities, golf courses, country clubs, skiing facilities, marinas, fitness and recreational sports centers and bowling alleys.

Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios

About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

Gavin Smith, IBISWorld, 310 866 5042, [email protected]

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