How to Pick Redemption Prizes

Redemption counters and rooms should have ample products & prizes to win from redemption games. There should be plenty to choose from for everyone: children, teens, and adults. Don’t only focus on children, broaden your audience. We are in the “family entertainment” business, not solely “child entertainment.” We need to make our offerings more inclusive for each and every guest that walks through our doors.

Tips to Remember:

• The arcade should be a blended rate of 20-25% of licensed video game products such as Jurassic Park, Terminator, and the like.
• 75-80% of redemption games or skill games to redeem for prizes.
• The best, and most successful arcades use the blended rate properly, they strive to have more than 100+ games in order to be the top dog in their area.

Redemption prizes should be a combination of unique prizes and branded merchandise from the facility. Why? The strategy is to market the location as well. Keep in mind, that when children and adults take these prizes home, to school, or to work, they are promoting your business. Make the prizes unique and useful.?

Prizes

You should have a range of prizes such as little trinkets for quick redemption but also popular items for your loyal and local guests to work hard to earn.?

For instance, take your local crowds, most likely kids and teens, that come in on certain days each week. They are investing in your games and want that important “payout” much like a gambler at a casino. I am talking about the “jackpot” being the highly coveted items that are hard to obtain but everyone wants. That in itself is a challenge!?

• Bluetooth electronics like speakers, headphones, etc.
• Lava lamps
• Small novelty indoor water fountains
• Electric guitars
• Game consoles
• Gaming accessories
• Backpacks
• Purses
• Designer handbags
• Autographed sports memorabilia
• Popular new items such as “among us”, “marvel”, “dc comic”,or toys and accessories from new hit movies.??
• Archery sets
• Gaming combo sets

Don’t Forget to Appeal to The Adult Guests!

Adults love trinkets too!! You have plenty of stuff at the redemption counter for kids, teens, and young adults. Why not give an incentive for adults, like the parents and grandparents to enjoy?

You should have the same selection for adult guests as you do for the kiddos and teens! They should range from trinkets to valuable items. Ask yourself, what do adults want? Answer:

• To save money
• Items that are practical
• Useful products

New Items to Add to Your Redemption Counter for Adults

What adult doesn’t want a bargain? Most people miss very obvious ways to entice the average adult. Here are some ways an FEC or theme park can get the adult to play while not spending much of your budget in the process.

• Voucher booklets for the bars/restaurants in your park or FEC
• Buy one get one free, certificates for rides and attractions
• How about tickets for the next “event” if you have a stage
• Free day pass or a free buddy pass
• Punch cards for each department?

All-Inclusive Redemption Prizes

The bottom line is to always be inclusive with your redemption prizes. You do not want to forget any of your demographics. Each and every guest has chosen your establishment to spend their hard-earned money. This is a great honor. With as many businesses in our industry that are going under and shutting their doors, you should consider yourself fortunate to have a steady customer base.?Keep them happy, and they won't let you down.

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07-09-22

Tim Murphy is CEO of APX Operating Company, dba Boomers Parks, under the ownership of Cerberus private equity ($55B assets). Boomers Parks owns six family entertainment centers and two water parks with locations in California, Florida, and New Jersey.

As CEO of Boomers Parks since 2020, Tim took these eight parks from bankruptcy to profitability in just a year – in the middle of a global pandemic. When Boomers acquired these parks, they were operating at a $10 million loss. Tim transformed the customer experience and added new revenue streams to generate a 180% increase in revenue in 2021 (and on track to be a 250% increase in 2022).

Tim launched his 35+ year career at Walt Disney World and has since served more than 150 entertainment, restaurant, and food & beverage brands across more than 10,000 locations in C-suite and senior positions.

Additionally, Tim is a Board Director with Coney Park, Happy City and YuKids - Family Entertainment & Amusement Parks, part of The Carlyle Group ($275B assets), a private equity firm that operates 150+ family entertainment centers and amusement parks in Latin America.?

Tim has worked with top-tier entertainment and restaurant brands including Disney, Rebounderz Trampoline Parks, Darden Restaurants (Olive Garden, Bahama Breeze, etc.), Red Lobster, Jimmy John’s, Applebee’s, Sonny’s Bar-B-Q, Denny’s, El Pollo Loco, Hardee’s, Golden Corral, and Firehouse Subs.

Tim has overseen more than 35 purchase transactions involving over 1,200 restaurants, stores, and park locations.? With extensive experience in buying and selling businesses, handling negotiations with buyers and sellers, and creating strategic partnerships to build strong brands, Tim has facilitated deals ranging from $11 million to $350 million+.

Tim is a member of IAAPA, CAPA, FAA, AAMA & WWA. He is a licensed commercial real estate broker in the State of Florida. Tim earned a BS/BA in Accounting from the University of Central Florida and an MBA in Finance from Orlando College.