Concept Overview
GAMES WORKSHOP DATA PAGE
Name: Games Workshop Retail, Inc
Contact: Real Estate Department
Corporate Address: 6211 E. Holmes Road, Memphis, TN 38141
Corporate Phone Number: 901.541.7500
Website: www.games-workshop.com
Business Description: Games Workshop is the world's leading manufacturer, distributor, and retailer of toy soldiers, model kits, and table top strategy games. Our company's stores are known as Hobby Centers and they not only sell the company's products, but also provide an environment where players, collectors, and enthusiasts gather to play our games, learn painting and modeling skills, and receive guidance from our knowledgeable and enthusiastic staff.
Tabletop Strategy Games: For the uninitiated, the concept of tabletop strategy games can be a little confusing. It is best to think of it like playing a game with the green army men (that you've now painted to look like real soldiers) of your childhood on a nice model train table (with little buildings, hills, and trees) instead of in the sand box. This concept by no means covers all of the nuances of the Games Workshop hobby, but it's a good frame of reference from which to start.
Company History: Games Workshop began as a small chain of general games shops in London, England. In 1981, Games Workshop helped found Citadel Miniatures Limited, a manufacturer of metal miniatures. In short order, Games Workshop developed a set of table-top strategy rules for use with toy soldiers. This set of rules, called Warhammer, enabled players to recreate epic scale battles in miniature scale. In 1994, the company went public on the London Stock Exchange and a direct sales operation was developed in the United States. Alongside the distribution network focused on selling wholesale to third party retailers, Games Workshop launched a small chain of company-owned retail shops dedicated exclusively to its own products. Over the next 10 years, Games Workshop underwent a slow and steady expansion. Today, the chain totals 86 shops throughout North America and is part of a world-wide network of over 375 shops in premier locations. Now, Games Workshop is in the midst of a robust expansion of its US retail store chain.
Growth Plans: Games Workshop intends to open 100 corporately owned retail shops in the next 5 years, mainly concentrated in major metropolitan areas of the United States and Canada.
Competition: There is no other retailer that competes directly with Games Workshop. However, as a distributor, we are mindful of not encroaching upon our third party retailers
When entering a new market, Games Workshop places its own retail shops in locations to service the needs of new customers or beginning hobbyists and established customers or veteran hobbyists. We work in partnership with our better third-party retailers in the area (who benefit greatly from the customer creation at our Hobby Centers) and open our own shops in well trafficked and highly visible strip malls and shopping centers of the metro area.
One function of these Hobby Centers is product exposure and customer building. These Hobby Centers focus on servicing new customers or beginning hobbyists. The staff excels in introducing people to our products though a series of activities known as Intro Games and Painting Demos. In only 10 minutes, a Games Workshop staff member guides a customer through playing our game and participating in our hobby. Putting the product in the customer's hands and allowing him or her to experience the game is our strongest sales tool. Our staffers also provide painting lessons, giving the beginning hobbyist a chance to paint a model and learn tips and pointers from experienced hobbyists. These activities, combined with weekly events run by our staff, create an exciting environment for our customers, generate strong sales, and spread great word-of-mouth exposure.
Another function of the Hobby Centers is to service the needs of established customers or veteran hobbyists. Long term sales are directly proportional to the amount of activity and events in our shops. These shops have ample room for such activity and events. In addition to carrying our deep product line, these Hobby Centers typically have space for 3 to 6 gaming tables where customers can come and play our games in a clean, professional, and supervised environment. Our Hobby Centers are destination locations of Games Workshop enthusiasts.
BATTLE BUNKERS
The final linchpin of Games Workshop's retail strategy in a given metropolitan area is the opening of a Battle Bunker. The Battle Bunker is a large activity environment coupled with a retail shop. These centers are typically 3,000 - 5,000 square feet and have ample room for games and large-scale organized events. Our Battle Bunkers are marquee destinations and are often creatively decorated to resemble a medieval village, castle courtyard, or the interior of a spaceship. To date, Games Workshop only has a handful of these style shops.
The final linchpin of Games Workshop's retail strategy in a given metropolitan area is the opening of a Battle Bunker. The Battle Bunker is a large activity environment coupled with a retail shop. These centers are typically 3,000 - 5,000 square feet and have ample room for games and large-scale organized events. Our Battle Bunkers are marquee destinations and are often creatively decorated to resemble a medieval village, castle courtyard, or the interior of a spaceship. To date, Games Workshop only has a handful of these style shops.
WHY SHOULD GAMES WORKSHOP BE IN MY SHOPPING CENTER?
Impression: Games Workshop Hobby Centers provide unique and memorable shopping experiences.
Demographics: Games Workshop targets a highly desirable demographic; educated, affluent, and well-behaved 14- to 24-year-old males and their families.
Visually Appealing: Bright, vibrant, and unique corporate store design.
Corporate: All of our Hobby Centers are corporately owned, staffed, and trained.
Hours of Business: Our ability to tailor our hours of operation to our target customers is an essential component of the Games Workshop Retail Strategy. Hours can vary, but are typically from 1 p.m. - 9 p.m. Wednesday - Friday, 10 a.m. - 9 p.m. on Saturday, and 12 p.m. - 6 p.m. on Sunday, and closed on Monday and Tuesday, generally totaling 35 hours a week.
Customer Service: Games Workshop Hobby Centers set a high standard for customer service and satisfaction and cultivate repeat business.
Devoted Customers: Games Workshop customers are a loyal and devoted base who make repeat long-term visits to the location, excellent for restaurant and fast food co-tenants.
Location Advertising: Games Workshop publishes a monthly hobby magazine which highlights the locations of its Hobby Centers; this list of locations is also available on its web site. It is not uncommon for enthusiasts to plan a day trip to a Hobby Center or make a visit part of a vacation from another part of the country.
Global Locations: Games Workshop owns and operates 375+ Hobby Centers in the United States, Canada, the United Kingdom, Spain, France, Italy, Germany, Hong Kong, and Australia. Games Workshop is the world's leading manufacturer, distributor, and retailer of toy soldiers and tabletop strategy games.
Public Company: Games Workshop Group PLC is publicly traded on the London Stock Exchange. (Ticker LSE: GAW)
Financially Stable: Current U.S. revenues are in excess of $48 million per year.
Hobby Centers - Site Criteria
SITE CRITERIA
Demographic Criteria: At least 500,000 total population within 10 miles with 33,000+ 14- to 24-year-old males. Median household income is at least $50,000.
Size: Target shop size of 600-1,200 square feet for a strip-mall or shopping-center depending on price per square foot. Preferably, shops will have a minimum frontage of 14 feet.
Signage: Must permit Games Workshop sign package.
Exposure: In close proximity to popular complementary tenants. Non-anchored freestanding buildings are acceptable if they have one or more desirable co-tenants. Typically strip mall and shopping center locations should be at major intersections or along major highways or main roads.
Complementary Tenants: In locations, we look for Activity Generators such as movie theatres, coffee shops, and restaurants, as well as big box retailers such as Wal-Mart, Target, and K-Mart. Targeted big box retailers such as Toys 'R' Us, Best Buy, CompUSA, Barnes & Noble, and Borders are very desirable. Trendy chains or unique experience restaurants, as well as youth-oriented junior tenants such as Aeropostale, Gadzooks, Hot Topic, Michael's Arts and Crafts Stores, Journey's, Old Navy, and Pacific Sunwear. We also note co-tenants such as electronics, video games, and music shops like Babbage's, EBX, GameStop, FYE, and Sam Goody are also acceptable.
Parking: There must be adequate parking for customers to spend 2 to 4 hours at the shop.
Rear Access: Back door service with easy access for delivery is desirable.
LANDLORD'S WORK EXHIBIT GAMES WORKSHOP RETAIL, INC.
Landlord's Work. The Landlord shall provide, at no cost to Games Workshop Retail, Inc., the following (collectively "Landlord's Work") to the Premises and the building per Tenant's plans and/or specifications and all applicable code requirements. All Landlord's work shall be complete prior to space being turned-over to Tenant.
HVAC: Landlord will provide a complete HVAC system: Rooftop or split HVAC systems. Landlord will provide a rooftop or split heating and cooling system. Minimum capacity of the system will be one (1) ton per 400 sq ft of space. System to be warranted for a minimum of one (1) year.
Electrical: Landlord will provide and install complete electrical service system to the Tenant space. Service to be 200 amp, 120/460 V, 3-phase 4 wire, including but not limited to the following:
CT block, meter base, and meter located per Tenant's plans and specifications.
200 amp panel with breakers at location designated by Tenant.
Main feeders from service point to panel. Main breaker and main disconnect to be dedicated for Tenant's use only.
Restrooms: Landlord will provide one (1) fully functional handicapped accessible (if required) rest room that meets all applicable codes:
Handicapped approved toilet, lavatory, faucet, grab bars, and door hardware.
All finishes, including, but not limited to wall tile, paper towel dispensers, toilet paper holders, mirrors, and soap dispensers.
Exhaust system.
Ceiling light fixtures.
Fire Protection: Landlord will provide and install complete sprinkler system for tenant space (if required by code for tenant's use) including the following:
Distribution piping and heads based upon a open space layout and in accordance with local, state, and national fire codes. Tenant will be responsible for final drops and modifications based upon Tenant's plans.
Landlord will be responsible for all flow switches, tamper valves, and other control and monitoring devices.
Walls:
All perimeter walls to be sheetrocked and finished to deck.
Finished, taped, and sanded smooth.
Sheetrocked for applicable fire and building codes for intended use.
Storefronts: Landlord shall provide a glass door entry or a roll-up door.
Floors: Landlord will provide clean and level concrete slab or Tenant may elect to use existing carpet
or tile floor.
Ceilings and Lights: Tenant will use existing ceiling or, in case of brand new build-out, Tenant may provide ceiling or request landlord to furnish. Tenant may also request that Landlord provide lay-in light fixtures at 60 ft intervals.
Demolition: Tenant will value engineer premises and reuse any existing material which are deemed suitable for Tenant's plans.
Handicapped Accessibility: All means of ingress and egress shall meet local and national handicapped codes including all ADA requirements.
* Whenever possible, Tenant would like to consult with landlord about the construction of the vanilla box build-out and suggest modifications that best suit tenant's use (e.g., smaller stock room, public access restroom).
So as you can see, there are some very specific requirements as to where a GW shop is put. For those of you who wonder why there is no GW shop near you, now you know why.
What I find interesting (and most of us already know) is the description of the demographic who play table top games: educated, affluent, and well-behaved 14- to 24-year-old males and their families. So if you're a dumb, poor, tantrum throwing 30 year old (know any of these?), you probably won't have a good time.
If you want to look over the whole thing, GW has a downloadable PDF booklet you can get here: http://www.games-workshop.com/MEDIA_CustomProductCatalog/m1230058_realestatebooklet.pdf
Look through it and see what you think?
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