Business Idea

Start An Arena Based Vr Business

About

Starting an arena-based vr business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell arena based vr, or selling arena based vr online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an arena-based vr business ➜

Key stats

market size
$52B
starting costs
$24.7K
gross margin
30%
avg product price
$1500
time to build
10 months
growth
SEO
time investment
Side project

About

Starting an arena-based vr business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell arena based vr, or selling arena based vr online, you can use this page as a guide for everything you'll need to know.

Want to learn more? You can check out our full guide on how to start an arena-based vr business ➜

Key stats

market size
$52B
starting costs
$24.7K
gross margin
30%
avg product price
$1500

 

time to build
10 months
growth
SEO
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Employee & Freelancer Expenses $0 $5,500
Equipment & Supply Expenses $525 $5,500
Website Costs $232 $6,500
Business Formation Fees $600 $4,700
Retail Business Expenses $1,250 $11,650
Software Expenses $162 $3,094
Advertising & Marketing Costs $75 $5,036
Other Expenses $0 $300
Office Space Expenses $10 $100
Total Startup Costs $2,854 $42,380

Successful Businesses

Business URL Rank
Pokémon Showdown! battle simulator pokemonshowdown.com #5,571
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PSNProfiles • PSN Trophy Tracking, Stats, Guides & Leaderboards psnprofiles.com #17,267
Gameskinny - Video Game News, Cheats, Guides gameskinny.com #17,737
Game-Debate game-debate.com #19,722
Rocket League® rocketleague.com #19,979
HowLongToBeat.com howlongtobeat.com #27,252
SideQuest: Early Access Virtual Reality sidequestvr.com #32,121
KBH Games kbhgames.com #32,510
Oculus oculusvr.com #35,378
Glogster: Multimedia Posters glogster.com #35,427

Pros & Cons

Pros Description
Flexibility You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.
Meaningful business connections You never know who you will meet as a arena-based vr business. This could be the start of an incredible business opportunity!
High customer retention rates Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.
Control of workload With starting an arena-based vr business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.
Gain exposure and experience This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!
Unlimited income potential With starting an arena-based vr business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.
Cons Description
Motivation of employees If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.
Low margins The gross margins for your arena-based vr business are typically around 30%, which can make it more challenging to incur new expenses and maintain profitability.
High employee turnover In the arena-based vr business, employee turnover is often high, which can be quite costly and time consuming for your business. It's important to try and avoid this as much as possible by offering competitive pay, benefits, and a positive work environment.
Taxes As a arena-based vr business, you typically pay self-employment taxes which can be quite high. It's important to understand what you will be paying in taxes each year so you can determine if the work you're taking on is worth it.
High overhead expenses With starting an arena-based vr business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.
You may need to charge sales tax If you are selling your products in various states, you may be required to charge sales tax. Although this may not impact your financials specifically, it can be a headache to create a process and procedure for this. To learn more about sales tax, check out [this article](https://www.thebalancesmb.com/do-i-need-to-collect-sales-taxes-in-my-state-398913)

Marketing Ideas

  • 1

    Affiliate program

    Affiliate marketing is a great way to bring in a new revenue stream, especially when you don't sell products or services.

    Simply put, an affiliate program is an agreement where a business pays another business or influencer ("the affiliate") a commission for sending traffic and/or sales their way.

    The affiliate typically gets a unique link where clicks and conversions can be tracked.

  • 2

    Word of mouth

    Word of mouth is when a consumers reflects their interest in a company’s product or service in their daily dialogues.

    Therefore, word of mouth advertising is essentially a free advertising triggered by the customers experience.

    According to Nielsen, 92% of people trust recommendations from friends and family.

    Therefore, in today’s hyper-connected world, a single recommendation through a word of mouth can have a huge impact to your business.

  • 3

    Advertising on social media

    Social media advertising is one of the leading ways to get the word out when it comes to arena-based vr business.

    There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

    Learn more about advertising on social media ➜