The success of the bowling alley in Union Square has added courage to Tom Shannon to expand Bowlmor nationwide. Now this bowling center chain pocketed $ 60 million in revenue each year.
Tom Shannon is the owner of a series of bowling centers stretching from New York City to Curpertino, California. In the eyes of many people, the bowling industry specializes in serving his father in the bowling league in the province that is dying. But in Shannon’s eyes, if turning a bowling alley into a high-class entertainment space for business parties or fun-loving couples, the chances of making money will be small.
The idea appeared in Shannon’s head in 1994 when he attended a birthday party at Bowling Bowlmore Lanes right next to New York’s Unified Square. Shannon said every time he recalled the operation there, it was like the 1950s business.
As a passionate restructuring student at Virginia University’s Darden business school, Shannon mulled the data and found that he could renew the business, raising prices. He will market to high-end customers who are willing to pay extra for a night of play.
In 1997, Shannon bought the failed bowling court for $ 2 million – a loan from a company specializing in small business SBIC plus a debt note from the seller. He quickly embarked on the reform. The first is to create new features for the game like automatic grading, then selling beer, selling delicious food and receiving credit card payments.
Shannon recounted that their revenue doubled in the first year and nearly doubled in the following year. He remembers that in those busy early days. In the daytime, upgrading and renovating to night will be open to serve customers to make up for the money spent during the day.
The success of the bowling alley in Union Square has added courage to Shannon to expand Bowlmor nationwide. Now this bowling center chain pocketed $ 60 million in revenue each year. Not only buying and upgrading bowling courts in Bethesda, Maryland and Long Island, New York, Shannon also built many new stadiums in Cupertino, Miami and Orange County (California).