Business Wire

CA-SANDBOX-VR

Share
Sandbox VR Leans Into Franchise; 60% Deal Growth and Plans for 280 New Franchise Locations to Come

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.

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240903348064/en/

About Business Wire

Business Wire
Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco

http://businesswire.com
DK

Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Vertex Announces US FDA Approval of ALYFTREK™,a Once-Daily Next-in-Class CFTR Modulator for the Treatment of Cystic Fibrosis20.12.2024 21:46:00 CET | Press release

- ALYFTREK™ is approved for patients 6 years and older with at least one responsive mutation, including 31 additional mutations not responsive to other CFTR modulator therapies - - In head-to-head clinical trials, ALYFTREK was non-inferior on ppFEV1 and further decreased sweat chloride compared to TRIKAFTA® - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced that the U.S. Food and Drug Administration (FDA) has approved ALYFTREK (vanzacaftor/tezacaftor/deutivacaftor), a once-daily next-in-class triple combination cystic fibrosis transmembrane conductance regulator (CFTR) modulator for the treatment of cystic fibrosis (CF) in people 6 years and older who have at least one F508del mutation or another mutation in the CFTR gene that is responsive to ALYFTREK. See below for Important Safety Information, including a Boxed Warning. “ALYFTREK is our fifth CFTR modulator to secure FDA approval and represents another significant milestone in our journey to serially innovate and t

Vertex Announces U.S. FDA Approval for TRIKAFTA (elexacaftor/tezacaftor/ivacaftor and ivacaftor) to Include Additional Non-F508del TRIKAFTA-Responsive Variants20.12.2024 21:35:00 CET | Press release

- Approximately 300 more people with cystic fibrosis in the U.S. are now eligible for a medicine that treats the underlying cause of their disease for the first time - Vertex Pharmaceuticals Incorporated (Nasdaq: VRTX) today announced the U.S. Food and Drug Administration (FDA) has approved the expanded use of TRIKAFTA® (elexacaftor/tezacaftor/ivacaftor and ivacaftor) for the treatment of people with cystic fibrosis (CF) ages 2 and older who have at least one F508del mutation in the cystic fibrosis transmembrane conductance regulator (CFTR) gene or a mutation that is responsive to TRIKAFTA based on clinical and/or in vitro data. In addition, safety information on liver injury and liver failure has been updated from warnings and precautions to a boxed warning. With this approval, 94 additional non-F508delCFTR mutations have been added to the TRIKAFTA label, and approximately 300 additional people with CF in the U.S. are now eligible for a medicine to treat the underlying cause of their

HSBC Continental Europe Enters Into a Memorandum of Understanding Regarding Potential Sale of HSBC Assurances Vie (France) to Matmut Société d’Assurance Mutuelle20.12.2024 20:32:00 CET | Press release

Regulatory News: HSBC Continental Europe has signed a Memorandum of Understanding (‘MOU‘) regarding the potential sale of its French life insurance business, HSBC Assurances Vie (France), to Matmut Société d’Assurance Mutuelle (‘Matmut’) (the “Potential Transaction”). HSBC Assurances Vie (France) provides a wide range of life insurance solutions and services, with over 20 billion euros of outstanding assets, net income1 of 77 million euros and a Solvency II ratio of 287% in 2023. As part of the Potential Transaction, HSBC Continental Europe and Matmut would enter into a long-term arrangement for HSBC Global Asset Management (France) to continue to partner with HSBC Assurances Vie (France). HSBC Assurances Vie (France) will continue its existing distribution arrangements. The Potential Transaction would provide customers and employees of HSBC Insurance Life (France) with the opportunity to join one of the leading French mutual insurance groups, which is in full development, and forms pa

Andersen Global udvider sin ekspertise med tilføjelsen af Valora20.12.2024 17:07:00 CET | Pressemeddelelse

Andersen Global fortsætter sin udvidelse af servicetilbud gennem en samarbejdsaftale med Valora, der er en uafhængig virksomhed med speciale i levering af skræddersyede løsninger til både private og institutionelle kunder globalt. Valora har kontorer i Miami og Raleigh og desuden global tilstedeværelse i Den Dominikanske Republik, Storbritannien og Caymanøerne. Valora blev grundlagt i 2011 af partneren Luis de Leon og tilbyder et stort udvalg af tjenester, blandt andet værdiansættelse, performance, regnskab og administration, global enhedsstyring, fondsvirksomhed og andre skræddersyede løsninger. "Et samarbejde med Andersen passer godt til både vores kunder og vores team," siger Luis. "Synergierne mellem for vores servicetilbud vil sætte os i stand til at levere omfattende og integrerede løsninger med stadigt stigende global rækkevidde." Global Chairman og CEO for Andersen Mark L. Vorsatz udtaler: "Valoras team og virksomhedskultur er, sammen med deres fokus på det praktiske, et godt m

SBC Medical Group Co., Ltd. Sells Two Subsidiaries20.12.2024 13:00:00 CET | Press release

On December 17, 2024, SBC Medical Group Holdings Incorporated (“SBC Medical”, or the “Company”), announced that its subsidiary, SBC Medical Group Co., Ltd. (hereinafter referred to as "SBCMG"), has decided to sell all shares of its subsidiaries, SBC Kijimadaira Resort Co., Ltd. (hereinafter referred to as "Kijimadaira") and Skynet Academy Co., Ltd. (hereinafter referred to as "SNA"), as outlined below. The decision to sell these subsidiaries was made to concentrate SBCMG's management resources on its core medical services business, in line with its strategy of prioritizing and focusing on key business areas. The subsidiaries being sold operate in the following industries: Kijimadaira: Ski resort operations SNA: Flight training operations The shares will be sold to a company wholly owned by Yoshiyuki Aikawa, the CEO of the Company. Since this transaction constitutes a related party transaction, it was deliberated and approved by the Company’s Board of Directors and Audit Committee. To e

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
World GlobeA line styled icon from Orion Icon Library.HiddenA line styled icon from Orion Icon Library.Eye