Go Xperia Details Plan to Buy, Then Franchise Experience Brands
Minneapolis-based Pedal Pub is the first "pillar" in Go Xperia's plan to buy and franchise brands in the experience entertainment industry.
Proprietors Capital Holdings, the owner of Pedal Pub since 2017, has formed a new umbrella company called Go Xperia and embarked on a strategy to buy and franchise "experience entertainment" brands in four categories, said Go Xperia CEO Bob Ruhland at the Franchise Investment Conference today in Dallas.
Minneapolis-based Pedal Pub, those multi-passenger human-powered vehicles with a party atmosphere, "literally created the Pedal Pub industry," Ruhland said, and will serve as a model as Go Xperia develops its additional three "pillars" or industry segments: escape rooms, ax-throwing businesses and "emerging" concepts that will become categories in the future.
For the escape room segment, Go Xperia has inked a joint venture to bring the UK-based Escape Hunt to North America; Escape Hunt is already in the other six continents. For the ax-throwing segment, Go Xperia is in the letter of intent stage of identifying companies to buy.
"Our goal is to have four different brands that will be franchising within the next 12 months," Ruhland said. Go Xperia also plans a category called affiliates, which will "aggregate all the great experiences in the country" on one digital platform.
Ruhland, a former executive with Buffalo Wild Wings who plans to bring food and beverage components to brands they acquire, said the plan is on trend with millennials. "In 2014 was the beginning of a seismic shift that we've all experienced, and it's the growth of the experience economy," he said. "Seventy-eight percent of millennials prefer experiences over goods, so it's a huge opportunity."
The idea for Go Xperia is, all the categories are "under one roof. Think of it as a one-stop shop for experiences," he said.
The Franchise Investment Conference runs through Wednesday noon and features speakers from some 50 franchise brands presenting their investment cases.