However, the pandemic was a major setback for these businesses. COVID-19 aside, the less obvious problem they faced in returning their businesses to the good old days was that family fun and entertainment had become an incredibly competitive, global business where big companies dominate.
The little local guy gets shut out of new technology and trends; they simply don’t have the resources to “do a McDonalds” and sign-up big brands like Disney and major sporting clubs or stars to promote their venues.
How could they level the playing field?
Grub Lab is their food services solution which has recently formed a partnership with Simplot to allow families to access the latest in Augmented Reality entertainment.
It brings the fun venues and creates an experience for kids that is on par with the latest trends in popular entertainment. And these kids have high expectations; they have access to it everywhere else in their lives so why not at the local pub? Grub Lab’s ambition is to provide entertainment for families that is a first-class technology experience at no additional cost to them.
Currently Grub Lab has established itself in 1200 venues and is on course to have 5000 venues before the end of the year. Village Co is also on track for its next capital raise which is setting its sights on expansion into the US.
Mick Carr – CEO, Village Co.
Like many start-ups Mick and his team have put it all on the line to build their vision. Not only are they passionate about the future, but they’re also leading experts in innovation in the domain of AR.
However, the team recognises that to bring their idea to life at speed requires guidance from people outside their business. GHO Ventures, in partnership with PKF, was set up to wrap the required skills for business success around these entrepreneurs to help ensure a faster path to market and profit.
GHO is a shareholder in Village Co having worked with Mick and his team under a combination of fee for service and services for equity arrangements for the past three years. Grub Lab’s valuation has doubled in 2 years with GHO Ventures’ support and will be going for a series A raise in the coming year to enable international growth.
GHO acknowledges and pays respect to the past, present and future Traditional Custodians and Elders of this nation and the continuation of cultural, spiritual and educational practices of Aboriginal and Torres Strait Islander peoples.