Omaha Market
Research indicates the Omaha bowling market has a limited supply of bowling lanes available during peak periods. Bowling proprietors primarily cater to league bowlers leaving less than 25% of the lanes market wide available for open play and less than 12% in The V's intended location. This leaves little opportunity for families to bowl in the early evening. In addition, due to more than a decade of under-investment in leisure entertainment in the Omaha market most Omaha based bowling alleys and entertainment centers are dated by current standards and consist of aging equipment with out-of-date technology. Furthermore, these facilities provide a limited entertainment format by today’s standards and consumer experience has shown that these facilities are operated by proprietors who do not have the modern skills to run a top notch, guest service oriented entertainment format.
A strong opportunity to provide new capacity to the growing open play market exists due to lack of supply and a weak competitive environment. Furthermore, consumer preferences have changed to newer, attractively designed, multi-attraction indoor entertainment complexes. Other than a few recent entrants the Omaha market lacks this type of entertainment offering. The V is designed to target these preferences with a professionally operated, attractively designed facility offering multiple entertainment options.
The V will offer 20 lanes of open play format 7 days a week providing significant new capacity to the market allowing The V the opportunity to capture the vast majority of peak period demand for open play bowling. We believe families, who are currently forced to bowl late in the evening, will choose to make this switch to The V due to more convenient open play times and a more robust entertainment offering.