Zone 3 Laser Games will fire its last shot on Sunday, with the business closing down for good.
The popular birthday party venue has seen many a skirmish through its eight years of operation.
Owner Brett Johnstone said the business had been on a month-by-month lease for the last few years, and new tenants had been found to move into the venue.
"It paid for itself in the first couple of years so it was good and the location wasn't a problem," he said.
"A population of 100,000 people in Launceston give or take is marginal for maintaining a business like this long term."
Mr Johnstone added that recent requirements for schools in terms of safety and parental permission increased paperwork, resulting in lesser patronage from school excursions.
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He said laser tag has been grouped with the likes of abseiling in terms of parental permission slips and paperwork required for children to participate.
"We had groups that came in for years cancel so that hasn't helped," he said.
Mr Johnstone said he was relieved to be relinquishing the business but also happy from all the fond memories the business has brought him.
"I've made some of my closest friends through Zone 3, I've been to the weddings of a lot of my ex-staff," he said.
"I first worked in the Hobart store in 1993 so I've been involved in laser tag since then so it's a big part of my life.
"We've sent teams away to national, I've got four national titles in different events."