Why This Quant from Nigeria Started a VR Franchise in Zurich

Former Credit Suisse quant Bolade Olu-Adeyanju pivoted from finance to tech entrepreneurship, securing rights for six Sandbox VR franchises in Switzerland and Austria. We interviewed Bolade to ask him about his journey from finance to franchise ownership. Watch the interview, or read these insights.

About Sandbox VR

Sandbox VR is a location-based VR franchise quickly expanding both internationally and across the USA. An immersive social experience through a combination of full-body motion capture and VR technologies, Sandbox VR allows players to step into another world and go anywhere with their friends.

Sandbox VR uses hardware like head-mounted VR headsets, backpack computers, motion capture sensors and haptic vests for players

Sandbox VR is backed by a16z, Alibaba, Craft and celebrities Justin Timberlake, Katy Perry, Orlando Bloom and Will Smith, Michael Ovitz, Honda Keisuke and Kevin Durant.

Sandbox VR has 46+ locations around the world, and launched the USA franchising program in 2024.
Financial Performance of Sandbox VR stores

How to Find & Verify a Concept?

• Follow your passions: “I’m a gamer and a businessman.” As a franchisee, you will need to convince investors and customers, so it’s essential to understand and believe in the product you are selling.
• Secure a prime territory: “I’ll be first in Switzerland and Austria.
• “Keep a eye on social media.” Bolade discovered Sandbox VR on Instagram.
• “Test with prospective consumers.” Bolade tested with a group of friends that didn’t know of his interests in franchising. The friend group unanimously wanted to return to Sandbox VR, and that was “all I wanted to know” for Bolade.
• Compare to competition in the segment: Sandbox VR significantly beats the competition in every segment

How to launch right?

• The franchise sales and launch cycle can be long: it took Bolade almost two years(2021-2023)
• Start the buildout while you are still working at your job
• Move to full time once the store launched

VR industry is expected to reach a market value of $300B by 2024 but it remains an emerging segment for many investors

What does day to day look like?

• Supporting employees and dealing with customers, so a bit of everything. Since Bolade is keeping lean operations, he is taking on a lot of roles.
• Bolade isn’t a boss but a member of the staff to the customers visiting Sandbox VR store.

Support from the Franchisor?

• Weekly meetings with the franchisor to ensure progress. The franchisors gets to see the financial performance of other franchisees and advises Bolade accordingly on how to succeed.
• 24/7 technical support and ultra-quick resolution of tech issues

The futuristic techy inside of a Sandbox VR location

How to raise money for an emerging franchise?

• You will need a strong business plan: financial projections will be the the foundation of conversations with investors
• Personal conviction matters a lot: apart from the financials, the investors will be looking towards you to transfer the belief in the VR segment
• Getting buy-in on an emerging innovative concept is hard: concepts not as proven as a McDonalds will need a lot of convincing.

Bolade at the launch of the Zurich location

Advice?

• Take the first step: start. Don’t expect anyone to invest if you haven’t put in your own capital.

Own Your Own Sandbox VR