Raj Gupta tells 1851 Franchise the story behind Funtastik Labs, what sets it apart and where the brand is headed next.
1851 Franchise: Tell us about the history and founding of Funtastik Labs.
I had a career in technology and my wife, Roli, had a background in fashion and marketing, but she had stopped working to spend her time focusing on the kids. The idea for Funtastik Labs came when our kids were growing up. We loved seeing them explore and get creative making slime, building, experimenting and painting, even if it meant making a mess. We would encourage it as much as possible. As Roli wanted to resume her career, she had the idea of creating a space that would encourage exploration, creativity and ingenuity where parents could take their kids to have fun. That’s how the idea for Funtastik Labs originated. Over time, I worked with her to shape the idea, and in 2017, we registered the business. By 2019, we had opened our doors to the public.
1851: How does Funtastik address a gap in the market?
Gupta: For the age group we wanted to target, we saw that STEAM type activities were mostly confined to daycare and elementary schools. There really wasn’t any hands-on STEAM entertainment before Funtastik Labs. In preschools and schools, the focus is on theory, progress, attendance, tests and homework. We wanted to focus on letting kids experience science, arts and engineering on their own terms. That’s why our mission is to inspire a love for STEAM by offering kids an entertainment place that offers hands-on experiences.
1851: What are your plans for the future?
Gupta: We see immense potential in our business model and believe it can be replicated successfully in diverse markets. For 2024, we plan to expand our footprint by identifying and partnering with dedicated franchisees who share our passion and commitment to the brand.
We're really customer focused, and that’s no different when it comes to franchising. This means that we’ll be very focused on our franchisees and supporting them in being successful and bringing Funtastik Labs to their communities.
1851: Why should someone consider a Funtastik Labs franchise opportunity?
Gupta: Here are three reasons why Funtastik Labs is a great franchise opportunity:
Reason 1: Our strong financial metrics and consistent positive customer feedback demonstrate that Funtastik Labs is a great investment opportunity. This is inherent in our model, which provides us with a distinct market advantage in helping new customers easily discover the brand, make repeat purchases and share the experience with others.
Reason 2: Our technology and innovative content really resonate with our target market, improve our customer experience and make our training and staffing very efficient and easy for a franchisee.
Reason 3: We’re positioned at the intersection of the $100 billion children's STEM education and the $11-plus billion kids' entertainment sectors. Both markets are growing quickly which means there’s a lot of potential for what we offer. By franchising with us, you are aligning yourself with an industry on the cusp of significant expansion.
1851: Is there anything else you want potential candidates to know about the Funtastik Labs franchise opportunity?
Gupta: You don't need a background in science, technology, engineering, arts or math to succeed. What's vital is your willingness to learn. Our program is designed to be intuitive and straightforward. With comprehensive training and ongoing support, we believe that you'll be well-equipped to run your Funtastik Labs center with confidence.
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The estimated total investment necessary to begin the operation of a Funtastik Labs is between $257,250 to $352,250.