Leisure firm Big Fang sees revenues pass £15m
Liverpool crazy golf and leisure venue operator Big Fang Collective reports rise in annual revenues to more than £15m as it continues its UK expansion. Tony McDonough reports
Liverpool leisure operator Big Fang Collective says annual revenues have passed the £15m mark as it continues to roll out its concepts across the UK.
In accounts for the 12 months to December 31, 2023, just posted on Companies House, Big Fang is reporting revenues of £15.5m, up from £12.5m the year before. Pre-tax profits came in at £208,477, much lower than the £1.5m in the previous year.
However, these latest accounts cover a shorter nine-month period from the formation of the Big Fang Holdings Group to the year end. The reported figures were in line with the board’s expectations. Dividends of £204,000 were paid to shareholders.
Employing more than 250 people Big Fang’s venues offer a combination of crazy golf, DJs and signature cocktails inside a cathedral of graffiti. It has expanded its proposition with multiple concepts.
Big Fang opened its first crazy golf concept, Ghetto Golf, in Liverpool in 2016. It now operates in seven cities including Birmingham, Newcastle, Glasgow, Sheffield, Cardiff and Nottingham. Big Fang is also set to open its first venues in London and Bristol.
In 2022 private equity leisure investor IMBIBA ploughed £5.5m into the business. The business has also used a £5.5m cash injection it secured from SME lender ThinCats to fund its expansion.
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At the end of the financial year Big Fang said it had net assets of more than £5m, which it added reflected the “financial investment in our business and our strong trading ability.”
The accounts also said: “The sector in which Big Fang Collective operates is highly competitive and subject to changing consumer trends in the growing competitive socialising market.
“As mitigation against this risk, we invest significantly in the development of our new sites and maintaining our existing venues to create a best in class consumer experience for our guests.”