SAN FRANCISCO -
The company topped 1.2M tickets sold in 2023; seeing 33% year-over-year increase in 2024 ticket sales
The first Australian location opened in August, expanding the company’s global presence to four continents, nine countries, and 50 stores
(BUSINESS WIRE) -- Sandbox VR, the world's premier destination for premium location-based virtual reality experiences, is announcing significant growth milestones of its franchise program. The company saw 60% growth in franchise deals in Q2 with plans to open 280 new franchise locations in the next four years. This announcement comes on the heels of opening their 50th store on August 15. Located on the Gold Coast, the new location is the first Sandbox VR in Australia, expanding its global presence to four continents and nine countries.
Since opening its first store in Hong Kong in 2017, Sandbox VR has rapidly grown its global footprint with thriving corporate-owned locations and a robust franchising program. Today, its global locations see over 100k players monthly. In 2023, the company topped 1.2M tickets sold and has seen a 33% year-over-year increase in 2024 ticket sales. Sandbox VR’s corporate locations—37 in total—hit a revenue milestone with an average store topping $1.9M annually.
Sandbox VR's franchise program launched in 2019 for international markets and opened up for US territories in April of this year. In those four months, 33% of available Sandbox VR US franchise territories have been claimed by new and existing franchise partners. Franchising has been instrumental in making Sandbox VR the fastest growing location-based VR startup globally, and this US momentum signals continued rapid growth. Limited opportunities for prime locations and territory exclusivity are still available in the US.
“When I started building Sandbox VR, I set out to build the future of entertainment. I never would have succeeded without the right team of people helping me build the world's most immersive experiences using bleeding edge virtual reality technology,” said Steve Zhao, CEO and founder of Sandbox VR. “As we set our sights on expanding globally, we know it’s critical to work with the right partners. We are thrilled to announce the 50th Sandbox VR location in collaboration with our franchise partners, Bao Phung and Keith Le, and look forward to working with passionate franchise partners from around the globe to open hundreds more in the next four years.”
“We considered a different location-based virtual reality company when it came to exploring our franchise opportunities but ultimately determined that we wanted to partner with Sandbox VR, the leader in the category,” said Bao Phung, Owner of Sandbox VR Gold Coast. “Partnering with Sandbox VR was the most advantageous and strategic decision for our business, allowing us to introduce Australia to immersive games you can’t play anywhere else on the world’s most immersive full-body VR platform. The Gold Coast, which attracts 13 million visitors annually, is the natural choice for our first location. We look forward to introducing locals and visitors alike to a whole new reality.”
Sandbox VR’s UK and Ireland franchise partners, VR Entertainment Group, are proof of the strength of the Sandbox VR franchise program. Since launching their first store in London in July 2022—and their second in Birmingham a year later—they have surpassed the $10M revenue milestone. In London alone, VR Entertainment Group has seen a 16.8% increase in guests year-to-date and projects their 2024 revenue to top $5M.
“I believe our success is due to the strength of our partnership with Sandbox VR,” said Andy Scanlon, co-founder and CEO of VR Entertainment Group. “Their world class VR, brand, and wider corporate team, with our local expertise and determination to build Sandbox VR into the leading immersive entertainment brand in the UK & Ireland, has led to a nexus delivering truly amazing experiences for our guests.”
Sandbox VR is creating the future of entertainment by building the world’s most immersive experiences using proprietary virtual reality technology. Their patented motion-tracking system, which captures the movements of a player’s entire body, combines with high-quality haptics to provide players with unprecedented realism and complete immersion that’s not possible with home VR or other location-based VR platforms. Guests’ own bodies act as their game controllers; all they have to do is step into the virtual world and participate in the action unfolding all around them.
All Sandbox VR experiences—eight in total—are developed by in-house AAA gaming studios in Hong Kong and Vancouver, led by game industry veterans and are specifically designed for groups to play as social experiences. Teams of up to six freely roam and explore virtual worlds together, while relying on each other to succeed.
For more information and to make reservations, please visit sandboxvr.com. To learn more about Sandbox VR franchise opportunities, please visit https://franchise.sandboxvr.com/.
ABOUT SANDBOX VR
Sandbox VR is the world's premier destination for premium, location-based virtual reality games. The company has created the world’s most immersive full-body VR platform and boasts exclusive games, including original and branded experiences, such as Squid Game Virtuals, created in collaboration with Netflix. Now operating in 50 locations and attracting over 100k players monthly, Sandbox VR is rapidly growing its global footprint with thriving corporate-owned locations and a robust franchising program. The company has been recognized as one of Fast Company’s 2024 Most Innovative Companies and is the 129th fastest growing company in America on the 2024 Inc. 5000 list. Sandbox VR is headquartered in San Francisco, California with offices in Hong Kong and Vancouver. The company’s latest round raised over $37 million from investors including Andreessen Horowitz, Alibaba Entrepreneurs Fund, Gobi Partners, and Craft. Individual investors include Justin Timberlake, Katy Perry, Kevin Durant and Will Smith.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903348064/en/
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Contacts
Dacyl Armendariz
Whipsmart Communications
sandboxvr@whipsmartpr.com
512.944.0944
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