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Funtastik Labs Prepares for 2024 with Double-Digit Revenue Growth, Refreshed Prototype

As the children's entertainment franchise celebrates its fifth anniversary and prepares to open a second location, it continues to see growing demand and revenue.

By Morgan Wood1851 Franchise Contributor
SPONSOREDUpdated 10:10AM 03/04/24

Celebrating its five-year anniversary, Funtastik Labs, the children’s entertainment franchise that provides kids with a safe, welcoming environment to explore STEAM concepts, is looking back on five years of big moments and preparing for the next five. The concept, which was initially inspired by parents’ desire to provide their children with an engaging exploration space, quickly became a community favorite. Now, as it rounds out its fifth year, Funtastik Labs continues to support growing demand at its flagship location as it prepares to open a second center in Sugar Land, Texas with an updated prototype and begins expansion through franchising in major markets nationwide.

“This is a big year where we’ve laid the groundwork to take Funtastik Labs beyond the Katy, Texas location,” explained Raj Gupta, managing director of Funtastik Labs. “In addition to launching our franchise offering this year, we’ve signed a lease for and are working towards building out a new Funtastik Labs in Sugar Land.”

Gupta recognized that, over the years, the team has experienced a few major milestones. Through TV appearances, the launch of its slime bar with hundreds of toppings and the formulation of ATOM, the digital system that supports children in navigating activities and experiments at Funtastik Labs, the concept has continued to grow, offering a truly unique experience for kids in the Katy area.

Moreover, for a business like Funtastik Labs — a novel idea, built from the ground up — reaching the five-year mark is impressive. A large percentage of small businesses fail to take off, and others find themselves making constant, drastic changes to try to keep the concept alive. Funtastik Labs, on the other hand, has delivered magic since its conception, making small adjustments to better serve the community without losing the heart of the business itself.

“We recognize that this has not been the simplest of processes for us. We were starting something completely new, not another ice cream shop or some other concept that already exists,” said Gupta. “We chose to break the mold by not opening just an art center, science lab or coding studio. We wanted to focus on providing a whole child experience that bridged the gap between all three and create something that was more than the sum of its parts. Having done so, we celebrate that we’re still around, growing and able to focus on the future of the brand.”

Over the years, Gupta said the Katy location has exceeded the expectations with its financial performance, too. This year, revenue has continued to grow by strong double-digit percentages, demonstrating ongoing demand from the brand’s loyal consumer base — another bright spot for the future of Funtastik Labs.

Funtastik Labs Is Only Getting Better as It Expands

Looking forward to 2024, Funtastik Labs is working to open its second location in Sugar Land, Texas. With a redesigned and improved interior, the new center will have better accessibility and visibility to the general public while delivering an immersive experience for the children inside. 

“We spent a lot of time on the interior design… taking everything that we’ve learned over the last five years and trying to incorporate it while, at the same time, making sure that it again turns into this fun, engaging space that the kids really want to come to. At the same time we’ve tried to retain the best aspects of our initial design,” said Gupta.

As an upgrade to an already high-performing concept, Gupta said he looks forward to seeing the revenue trends that the new model brings and is confident that it will serve as a prime example of the type of business a dedicated franchisee could build.

Funtastik Labs Prepares to Grow through Franchising in 2024

With plans to award multiple franchises in 2024, Funtastik Labs is dedicated to continuing its growth in partnership with truly passionate local entrepreneurs. New franchisees will open locations in line with the refreshed prototype, bringing a one-of-a-kind STEAM experience to children in their community.

“Next year, we will have two centers up and running, we’ll be looking to grant a few franchises and we may consider opening another corporate-owned location,” said Gupta. “We’re excited about what we’ve accomplished over the past five years, and now, we’re looking forward to taking what we’ve built and making that available to a lot more people in a lot more places.”

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