BOXED IN
Pre-trading investor brief · FY26

A moveable escape room business
built to scale across the UK.

Boxed In Escape Rooms turns a 20-foot shipping container into a premium, relocatable escape room — rotated between UK cities for public sessions and booked out for private events. One container. A container-level gross margin of 65%. A 5-year path from one unit to a fleet of 18.

Total Investment
£58.2k
Build + salary contingency (inc. VAT +10%)
Year 1 Turnover
£195.5k
Single container, ex-VAT
Year 1 Net Profit
£93.7k
Post tax & VAT (48% margin)
Payback Period
5.5 mo
Full investment recovered
The concept

Escape rooms, on wheels.

A 20-foot insulated ISO shipping container is converted into a self-contained escape room with three internal zones — plant room, starting room, final room — entered via two high-security doors. Sessions run 20 minutes, 1–6 players, priced from £30.

Unlike fixed-site operators, the container moves. Weekdays in one city, weekends at a festival, next month at a wedding. Every rotation is a new room for the local audience — the "milk round" model that collapses the biggest cost in the industry: permanent leased space.

📦

No leased property

Operating from pitch agreements and private venues removes the single largest cost line for traditional escape rooms. Monthly opex of £5,656 versus six-figure fixed-site burn.

🔄

Always a new room

Rotating containers between towns means customers get a new experience without the operator rebuilding the room. Same unit, new city = fresh demand every month.

Off-grid capable

Solar + battery + generator fallback. Can trade at locations with no mains supply — festivals, private estates, corporate outdoor events — where competitors can't reach.

Unit economics

One container. One year. The numbers.

Every figure below is derived from a single-container base case: 36 sessions per day capacity, seasonal occupancy curve (33% in quiet months, 79% at peak), weighted-average session price of £44.66 across 1–6 player groups. A deliberately conservative forecast — excluding premium holiday pricing, private event blocks, and corporate hire uplift.

Annual Turnover (ex-VAT)
£195,470
VAT registered (£90k threshold)
Gross Profit
£127,593
65.3% gross margin
EBITDA
£127,593
65.3% — industry median is 28%
Net Profit (post-tax)
£93,719
After Corp Tax & net VAT
Return on Investment
161%
Year 1 net profit ÷ total investment
Sessions / Day Capacity
36
12hr trading · 20min sessions
Avg Session Revenue
£44.66
Weighted across group sizes
Monthly Operating Cost
£5,656
Breakeven at 4.5 sessions/day

Monthly P&L projection — Year 1

GBP · EX-VAT

February = planned annual shutdown (maintenance, container refurbishment, new room build-in). Opex still runs.

Breakeven. Just 127 sessions per month cover operating costs. Year-1 projected volume is 4,377 sessions — 97× the opex breakeven point. Full investment recovered in month 6 of trading.
Revenue engine

Where the £195k comes from.

Two levers drive revenue: group-size mix (what size of party books a session) and occupancy (what fraction of available slots sell). Both are modelled conservatively. The pricing model below caps solo players at the £30 minimum booking and scales linearly to £84 for a full party of 6.

Group Size Mix % Session Price
1 Player2%£30
2 Players40%£30
3 Players18%£42
4 Players30%£56
5 Players5%£70
6 Players5%£84
Weighted Avg100%£44.66
Occupancy Tier Sessions/Day Occupancy
Low (Quiet Weekday)1233%
Medium (Busy Weekday)2054%
High (Weekend / Peak)2879%
Capacity Ceiling36100%
Use of funds

Where the £58k goes.

Build cost for a single container, detailed from a line-item cost sheet with named suppliers. Base build of £25,592 ex-VAT. Adding VAT, delivery, a 10% contingency and one year of salary runway brings total funding required to £58,189.

Build cost composition

EX-VAT
CategoryCostShare
Game Design & Props£10,13739.6%
Plant & Power (Solar, AC, Gen)£8,02731.4%
Container & Fit-Out£6,67826.1%
Web Application£7502.9%
Build Ex-VAT£25,592100%
VAT (20%) & Delivery£5,636
Contingency (10%)£3,222
Yr 1 Salary Runway£23,740
Total Loan Required£58,189

Loan modelled at 4.5% APR over 1 year · Interest charge £2,619 · Break-even month 6 of trading.

Growth plan

From one container to a fleet of 18.

Every container after the first is financed from operating cash — no further equity or debt required. Year 2 adds 4 units; years 3–4 add 4 each; year 5 adds 5. Marketing spend scales down as a % of revenue as the brand matures, from 30% in year 1 to 10% in year 5.

Fleet revenue & cumulative cash position

5-YR PROJECTION
Year 1 Year 2 Year 3 Year 4 Year 5
Containers in Fleet1591318
Fleet Revenue (ex-VAT)£195k£977k£1.76m£2.54m£3.52m
Fleet Opex-£68k-£339k-£611k-£882k-£1.22m
Marketing Spend-£59k-£293k-£352k-£508k-£352k
Capex (New Containers)-£34k-£138k-£138k-£138k-£172k
Net Cash Flow (Pre-Tax)£35k£207k£659k£1.01m£1.77m
Cumulative Cash Position£35k£241k£900k£1.91m£3.69m
ROI on Cumulative Capex100%140%290%427%594%
LTV : CAC1.43×1.43×2.15×2.15×4.30×
Assumption integrity. Every container is modelled with identical unit economics. Real-world variance by city, theme and season is certain. Marketing % is adjustable per year. Capex assumes no bulk-build discount — a likely upside if and when it materialises.
Market & comps

A £409m UK market with one public operator.

The UK escape room sector is forecast to grow at 12.4% CAGR from 2023–2032 (Allied Market Research). It is highly fragmented — over 60% of venues are single-location operators. Only one listed pure-play exists: XP Factory plc (LON:XPF), whose Escape Hunt segment delivers >40% site-level EBITDA on £14.2m segment revenue.

Operator Type Sites Revenue Gross Margin EBITDA Margin
XP Factory plc (Group)Public — AIM44£57.8m63%11.4%
Escape Hunt (XPF segment)Segment27£14.2m77%40%
clueQuest LtdPrivate — London1£5.2m75%30%
Clue HQ LtdPrivate — Regional8£2.4m70%25%
Boxed In (Yr 1 forecast) Mobile — Pre-trading 1 £195k 65% 65%

EBITDA margin vs comparable operators

% OF REVENUE
Why the margin gap? Fixed-site operators carry property leases, utilities, rates, front-of-house staff and fit-out depreciation. Boxed In's mobile model removes all of these. The comparable is not a high-street escape room — it's a food truck vs a restaurant.
Tax & compliance

The numbers after HMRC.

Full UK Corporation Tax and VAT modelling on the single-container Year 1 forecast, using HMRC 2024/25 rates. VAT registration is mandatory at £90k threshold — Boxed In will register before trading. Corporation Tax falls into the marginal relief band between £50k–£250k profit.

P&L Line Year 1 £ % of Revenue Notes
Gross Revenue (ex-VAT)£195,470100%Single container, conservative base case
(Less) Operating Costs-£67,877-34.7%Transport, insurance, storage, pitch fees
Gross Profit£127,59365.3%Industry median ~72%
(Less) Depreciation-£2,568-1.3%10% build cost
Operating Profit (EBIT)£125,02564.0%Escape Hunt segment: 22%
(Less) Loan Interest (4.5% APR)-£2,619-1.3%1-year term on build + contingency
Profit Before Tax£122,40662.6%Corporation Tax base
(Less) Corp Tax (marginal relief band)-£28,688-14.7%23.4% effective rate
(Less) Net VAT Payable-£28,912-14.8%Output VAT less reclaimable input
NET PROFIT AFTER ALL UK TAXES£93,71947.9%Retained by company
Director

Who's behind it.

CK
Connor Keeper
Founder & Sole Shareholder

Senior Manufacturing Engineer at Thales Group UK. Prior roles across small businesses (<10 employees) including Quantum Racing Suspension, Acoustics By Design and Paramount Campers — all of which saw year-on-year growth under pragmatic, organic scaling. Engineering background combined with a personal interest in puzzles and escape rooms: the origin of Boxed In.

Boxed In Escape Rooms is registered as a limited company with Connor Keeper holding 100% of shares. Trading address: Storrington, West Sussex. No staff employed in Year 1.

Risk & downside

What happens if it doesn't land.

The investment case is only credible if the downside is spelled out honestly. Below is the backup plan lifted directly from the business plan — including personal loan guarantee.

Loan repayment guarantee

During the planning and build phases, loan repayments are covered personally by Connor Keeper. Post-launch, business operations are expected to cover all loan repayments. If revenue is insufficient, Mr. Keeper will supplement up to 100% of payments due. Loan is secured against a jointly-owned two-bedroom semi-detached dwelling in Storrington.

Limited supplier commitments

Boxed In will not begin trading under property contracts and will make no prior order commitments to suppliers during the build phase, deliberately capping liability exposure. Bulk-order price breaks are only negotiated once container volume is proven in year 2.