Office Space Expenses

$0

$7,000

Employee & Freelancer Expenses

$151

$352

Website Costs

$223

$7,215

Business Formation Fees

$5,600

$20,400

Equipment & Supply Expenses

$66

$700

Retail Business Expenses

$1,250

$10,450

Software Expenses

$162

$3,094

Advertising & Marketing Costs

$75

$5,286

Specific Industry Expenses

$0

$100

Total Startup Costs

$7,527

$54,597

Roar Digital

roardigital.com

58,961

Hitmarker

hitmarker.net

61,460

BLOWOUT CARDS

blowoutcards.com

70,280

iGaming Business

igamingbusiness.com

91,890

CDC Gaming Reports

cdcgamingreports.com

100,017

Casino City: Your Casino Directory

casinocity.com

135,880

Entain plc - largest sports-betting and gaming groups

entaingroup.com

173,124

GTS Distribution

gtsdistribution.com

193,229

Penn National Gaming

pngaming.com

269,723

esa - Entertainment Software Association

theesa.com

347,115

Food, Venue & Hotel Management Company

delawarenorth.com

362,433

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.

Rewarding work

Starting a gaming, sports and entertainment center can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

Scalable

With businesses and processes changing daily, there will always be demand for new features, products and services for your business. Additionally, there are several different business models and pricing tiers you can implement that will allow you to reach all types of customers.

Meaningful business connections

You never know who you will meet as a gaming, sports and entertainment center . 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.

High margins

The gross margins for your gaming, sports and entertainment center are typically around 50%, which is considerably high and allows you to grow your business and manage costs easily.

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.

High employee turnover

In the gaming, sports and entertainment center , 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 gaming, sports and entertainment center , 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.

Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

High overhead expenses

With starting a gaming, sports and entertainment center , 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.

Churn

In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.