I read about Gevork Sargsyan in Forbes and was amazed by his journey with KidZania. Seeing how he brought the idea to Russia and made it a success inspired me to think bigger. It’s proof that determination can open doors anywhere!
Gevork Sargsyan, a former Russian official, was featured in Forbes for bringing KidZania, a unique children’s city of professions, to Russia. His journey highlights innovation and global partnerships. He now focuses on expanding KidZania in the U.S. markets.
we’ll explore Gevork Sargsyan’s inspiring journey from Russia to the U.S. with KidZania. Learn how he brought this unique children’s park to life and earned a spot in Forbes. Stay tuned for his challenges, successes, and future plans!
Who is Gevork Sargsyan? – Key Facts You Need to Know”!
Gevork Sargsyan is a Russian entrepreneur known for his work in business and education. He became famous for bringing KidZania, a global children’s entertainment brand, to Russia. KidZania is a place where kids can role-play different careers in a mini-city.
Sargsyan helped expand the brand to other countries, including the United States. Before becoming an entrepreneur, he worked in the Russian government. Today, he is recognized for
his successful business ventures and global influence.
What is KidZania? – ? Explore the Ultimate Fun Learning Experience”!
KidZania is an interactive fun place in which children learn through role play about different careers. It resembles a mini city and kids can be doctors, firefighters, and chefs, among other professions. They can try out real jobs in a completely safe and educational environment.
KidZania has been specifically designed for kids to learn about work while having fun. It is a way kids can develop skills, increase confidence, and be more independent. There are so many KidZania locations in various countries around the world.
What challenges did Sargsyan face during the US launch?
During the US launch of KidZania, Gevork Sargsyan faced several challenges. The first challenge that was encountered was the KidZania concept adaptation to the American audience, as there were cultural dissimilarities that required changes in the experience to suit local families.
Another challenge was finding the right partners and investors, as the nature of the project was large so it needed huge financial resources.
Moreover, considering the existing fierce rivalry in the US’s entertainment industry, where most brands had captured loyal clientele, posed challenges managing the business.
Marketing KidZania in a crowded market and making the brand stand out wasanother hurdle, but Sargsyan’s strategic approach helped overcome these challenges.
Gevork Sargsyan’s Early Career in Russia – A Journey of Success”!
A Promising Start in Public Service
- Gevork Sargsyan started working at the Department of the Ministry of Taxes and Levies of the Russian Federation and rose to the rank of Deputy Head of Control for the work with the largest taxpayers.
- This post implied ensuring adherence and optimization of the workload of the tax processes in respect of major corporations of the country.
- Even with such a steady job, he felt the need for more creative indulgence and freedom.
Transition to Entrepreneurship
- The entrepreneurial flames in Gevork’s heart were fanned when he became one of the co-founding members of Innova Systems, which specialized in tweaking well-known foreign games for the Russian audience.
- In 2013, the company was experiencing rapid growth, with revenues exceeding the $50 million mark, thus earning its stripes in the gaming market.
- Yet, the oversaturation of the market and few possibilities for growth compelled Gevork to look elsewhere.
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Discovering KidZania – The Turning Point!
The Inspiration
- A chance YouTube video about KidZania, a children’s role-playing city, sparked Gevork’s interest.
- The innovative concept blended education and entertainment, providing a unique business opportunity.
Securing the Franchise for Russia
- Gevork competed against major players like Alshaya Retail to acquire the KidZania franchise for Russia.
- His efforts included producing a professional pitch video that showcased his vision for adapting the concept to Russian culture.
The Launch of KidZania in Russia – A New Adventure for Kids”!
Challenges and Adaptations
- Introducing KidZania to Russia required addressing cultural nuances and regulatory hurdles.
- Sargsyan secured partnerships with local schools and businesses, ensuring the park aligned with Russian education standards.
Success in Moscow
- The first KidZania in Russia opened in Moscow with over $25 million in investments.
- It quickly became a top destination for families, attracting thousands of visitors weekly.
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Expanding KidZania to the United States – A New Era for Kids”!
The Vision for US Expansion
- Inspired by the success of KidZania in London, Sargsyan set his sights on the US market.
- Convincing founder Javier Lopez Ancona was challenging, but Gevork’s track record and strategic vision won him the US license.
Building Strategic Partnerships
- Key alliances with figures like Deborah Harmon and Keith Rubinstein played a vital role.
- Partnerships with major property developers helped secure prime locations in cities like Dallas and Chicago.
Dallas: A Landmark Launch
- The first US KidZania opened in Dallas, representing a $15 million investment.
- Partnerships with brands like BIC Group and Planet Fitness enhanced the park’s offerings.
Challenges and Lessons Learned – Growth Through Struggles!
Navigating Regulatory Hurdles
- The US market posed unique challenges, including strict financial and operational standards.
- Gevork’s ability to adapt and negotiate was crucial to overcoming these obstacles.
Lessons for Aspiring Entrepreneurs
- Importance of networking: Strategic partnerships can open doors to new opportunities.
- Cultural adaptability: Tailoring business models to local markets is essential for success.
- Vision and persistence: Staying focused on long-term goals ensures sustained growth.
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Future Plans for KidZania Under Sargsyan
Expansion to New Markets
- Beyond the US, plans include expanding to Canada and France, further solidifying KidZania’s global presence.
Innovating the Experience
- Leveraging technology to create more immersive and interactive role-playing activities.
- Collaborating with educational institutions to offer accredited learning programs within KidZania parks.
FAQs
1. How did Gevork Sargsyan contribute to KidZania’s success?
Gevork Sargsyan played a key role in expanding KidZania internationally, focusing on localizing the concept to suit new markets.
2. Is KidZania only for children?
While primarily aimed at children, KidZania also provides a family-friendly experience, with activities that engage parents and guardians alongside the kids.
3. How did Sargsyan grow KidZania internationally?
Sargsyan helped KidZania expand by forming strategic partnerships, securing financial support, and customizing the concept to appeal to diverse markets, resulting in successful openings in various countries.
4. What distinguishes KidZania from typical amusement parks?
Whereas in the majority of the theme parks the focus is on pure entertainment, KidZania is about learning through different activities. It enables children to learn and practice real professions and lessons about life in a stimulating way which is both fun and educational at the same time.
Conclusion
Gevrok Sargsyan went from being a Russian government worker to a thriving business person in the United States with KidZania, and it is truly an inspiring story of hard work and dreaming big. His ability to adjust, create crucial networks, and conquer lots of hurdles has been also essential in the realization of this innovative concept.
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