Business Idea

Start A Virtual Magic Show Business

About

Starting a virtual magic show business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell virtual magic show, or selling virtual magic show 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 a virtual magic show business ➜

Key stats

market size
$5.6B
revenue (monthly)
$12.5K
starting costs
$37.3K
gross margin
40%
avg product price
$1500
time to build
6 months
growth
Word of mouth
business model
Advertising
time investment
Side project

About

Starting a virtual magic show business requires a great deal of effort, dedication, and most importantly passion.

If you're interested in how to sell virtual magic show, or selling virtual magic show 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 a virtual magic show business ➜

Key stats

market size
$5.6B
revenue (monthly)
$12.5K
starting costs
$37.3K
gross margin
40%
avg product price
$1500

 

time to build
6 months
growth
Word of mouth
business model
Advertising
time investment
Side project

Startup Costs

Min Startup Costs Max Startup Costs
Office Space Expenses $750 $7,000
Employee & Freelancer Expenses $151 $352
Equipment & Supply Expenses $566 $6,200
Website Costs $303 $7,215
Business Formation Fees $5,600 $20,400
Retail Business Expenses $1,250 $11,650
Software Expenses $162 $3,094
Advertising & Marketing Costs $75 $5,786
Other Expenses $0 $800
Specific Industry Expenses $0 $100
Total Startup Costs $8,857 $62,597

Successful Businesses

Business URL Rank
vFAIRS vfairs.com #15,284
Event Management Company ges.com #334,212
Magical Castle magiccastle.com #797,433
BaKoRe Magic bakoremagic.com #820,118
Bay Area kids party entertainment, Virtual kids puppet & magic show happybrightkids.com #936,335
PregoExpo thepregoexpo.com #967,779
Microsoft Theater microsofttheater.com #978,030
Display Week 2020 displayweek.org #1,035,157
Magic for Extraordinary Events finchmagician.com #1,364,662
Fun Corporate Magic funcorporatemagic.com #1,424,939
Ah Real Magic LLC ahrealmagic.com #1,553,039

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!
Meaningful business connections You never know who you will meet as a virtual magic show 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.
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 a virtual magic show 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.
Longer Sales Process A virtual magic show 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.
Low margins The gross margins for your virtual magic show business are typically around 40%, which can make it more challenging to incur new expenses and maintain profitability.
Difficult to build trust with your customer With starting a virtual magic show business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.
Impatient customers You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.
Difficult to scale With a virtual magic show business, it can be challenging to find ways to scale. Check out [this article](https://www.inc.com/jeff-bussgang/scaling-a-business-is-hard.html) that discusses scaling your business and the challenges that come with it.

Marketing Ideas

  • 1

    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.

  • 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

    Social Media Advertising

    Social media advertising is the use of social media platforms to connect with your audience with the objective to build your brand, increase sales, and drive website traffic.

    According to Oberlo, approximately 48% of the global population use social media, and the number is ever-growing.

    Therefore, social media allows brands access to cost-effective advertising by enabling them to interact with a large audience.

    Learn more about social media advertising ➜