Business Idea

Start A Video Player Software Business

About

Starting a video player software business requires a great deal of effort, dedication, and most importantly passion.

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

Key stats

market size
$6.14B
starting costs
$30.2K
gross margin
75%
avg product price
$15
time to build
300 months
growth
SEO
business model
Advertising
time investment
Full time

About

Starting a video player software business requires a great deal of effort, dedication, and most importantly passion.

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

Key stats

market size
$6.14B
starting costs
$30.2K
gross margin
75%
avg product price
$15

 

time to build
300 months
growth
SEO
business model
Advertising
time investment
Full time

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $0 $7,000
Employee & Freelancer Expenses $151 $352
Website Costs $223 $7,215
Business Formation Fees $5,600 $20,400
App Creation Costs $1,000 $20,000
Software Expenses $162 $3,094
Advertising & Marketing Costs $0 $2,250
Total Startup Costs $7,136 $60,311

Successful Businesses

Business URL Rank
NCH Software nchsoftware.com #3,367
JW Player jwplayer.com #7,218
Real real.com #37,484
Cincopa cincopa.com #38,800
MX Player mxplayerdownload.co #170,640
Inmatrix.com inmatrix.com #418,651
Macgo macblurayplayer.com #577,096
Flash Video Downloader flashvideodownloader.org #704,796
Blaze Media Pro blazemp.com #984,138
Ziotag ziotag.com #1,213,870
Wimpy Player wimpyplayer.com #1,517,662

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.
Ability to start your business from home It's not necessary to have a physical storefront or office space to get your business started. You can do everything from the comfort of your own home, at least in the beginning!
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.
Traffic to your website A video player software business gives people a reason to visit your website and to keep coming back to you!
Meaningful business connections You never know who you will meet as a video player software 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.
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.
Longer Sales Process A video player software business can be a big time and money investment for your customer, so it's important you plan and predict a longer conversion funnel and stay in communication with potential customers.
High employee turnover In the video player software 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 video player software 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.
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.
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.

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

    Direct Sales

    Direct sales strategy implies a direct contact between a seller and a consumer without the involvement of any third party. Direct selling is popular in sectors where sellers communicate with their clientele personally. The sales technique occurs at non-store locations which include at home, work, or online.

    For direct selling to succeed, hire a few (or many) salespeople to support the sales conversion process. It's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

  • 3

    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.