U
rban Air Adventure Park is expanding rapidly, with 14 new parks opened this year and five more expected by the end of the year. The company aims to have 200 locations open by 2024. This growth comes despite a challenging commercial real estate market that forced Urban Air to rethink its development strategy.

    Ryan Slemons, chief development officer for Unleashed Brands, which owns Urban Air, credits the new strategy with helping the company build momentum in a tough market. "We're being more scrappy with how we're sourcing real estate," he said. New parks are opening in several states, including Illinois, Indiana, Michigan, and Texas.

    Urban Air is looking for existing buildings between 25,000 and 50,000 square feet to convert into its adventure parks. However, the competition for these spaces has increased due to a limited supply of big box space available in malls and outdoor shopping centers. To adapt, Urban Air is being more flexible with its design and layout, including taking over spaces with lower ceilings.

    The company operates in 38 states, Canada, and Europe, generating $582 million in sales last year. Urban Air offers a range of activities beyond trampolines, including indoor skydiving, go-karts, climbing walls, and laser tag. With an investment range of $3.6 million to over $5.6 million, Urban Air is one of the more expensive franchises to buy.

    Slemons notes that finding qualified franchisees is not as challenging as securing prime locations for new parks. "The differentiator for us is we offer a strong proposition value to landlords because they know we can drive a lot of families and foot traffic to their locations," he said, which has given the company leverage in winning real estate bids.