Lane7

Lane7 remains on track to open six sites by the end of its current financial year on 31 October 2024.

The experiential concept, which operates 13 venues across the UK, will also make its international debut within that time frame, with one site in Berlin and two in Dublin.

Lane7’s offer comprises bowling and a range of other activities, including ping pong, darts, pool, and an F&B offer tailored to each location.

The business reported £22.3m turnover for the year ended 31 October 2023, up from £20.4m the year before.

In its latest accounts filed to Companies House, Lane7 further reported £7.5m EBITDA accounting for 38% of turnover, slightly up from 37% the prior year. Profit before tax stood at £5.1m, compared to £5.9m the prior year.

The financial year was about “consolidation and building the foundations for the next phase of growth,” including the development of the opening strategy, expansion of the executive team, strengthening of the senior management team, and improving commercial operations to drive organic growth.

During the reporting period, Lane7 opened new venues in Durham and Bath, with a further two launched just before and after year end at Birmingham Bull Ring and London Victoria.

The directors continue to have an “optimistic” view for the future based on a healthy pipeline for opening new sites across the UK and Western Europe.

Speaking to MCA in December 2023, MD Gavin Hughes said the brand is targeting the 50-site mark in the UK. While the idea is to expand to well populated cities, high footfall locations are less of a concern, given it is heavily pre-booked.

“The aim is to wrap up those 50 [sites] quite quickly, but it’s very much about finding the right sites,” Hughes told MCA. “Then Europe is a relatively untapped market. It doesn’t have the same level of exposure to competitive socialising.

“We have so many experiences under one roof, our repeat customer is higher than others. We certainly aim to expand as the market will allow us to.”