Are you looking to start a virtual reality-based business but not sure what to create?
VR opens to business owners new possibilities for showcasing products and services to their customers. The VR industry is growing quickly and experts estimate it will reach a CAGR of 19.0 % over the next few years.
If you are looking for a lucrative business, you should consider virtual reality business ideas.
The good news is that there are so many VR business ideas you can start and profit from the multi-billion dollar industry.
If you're looking to start your own virtual reality based business, there are several low-capital options you can choose from.
Below is a list of the most profitable virtual reality business ideas you can start in 2023!
Here they are:
1. Start a vr content creation business
Virtual reality content creation has grown continually, and experts expect the market will register a CAGR of 76.5% in few years.
The VR content creation market is driven by augmenting demand for VR content in different sectors to offer exquisite customer experience marketing strategies across diverse industries. VR content creation involves the development of sketches, pre-production activities, shooting, and post-production. Businesses use VR content to improve the overall consumer experience. Therefore, they hire content creators to help them meet the demand for VR content.
VR content creators use a VR authoring tool to combine visual elements like 3D objects with programmed scripts that tell the VR headset and controllers what to do when users interact in the virtual environment.
The VR content creation market will continue gaining traction as the adoption of immersive and 360 degrees videos increase in the retail sector.
Bex Band started going on adventures in her mid-twenties and realized there was a gap. Not many women were taking up these adventure trips, and she would be the only girl in the group on multiple occasions. She saw an opportunity in this, and the idea of Love Her Wild was born.
- Bex decided that through her women's adventure community, she would help women explore their inner selves and make them feel connected to nature.
- Bex runs a non-profit community of women adventurers based in the UK that offers opportunities, funding, and guidance.
- Love Her Wild has been the wing beneath the wings for thousands of women experiencing their first-time mountain hikes or going on their first overseas expeditions!
- Currently, LHW has a friendly community of more than 30,000 collective members.
Read the full story on undomesticatedmag.com →
2. Start a vr cafe
A virtual reality café is an establishment that offers customers a pay-as-you-go VR experience. Your customers visit one of your brick & mortar locations and pay by the hour to experience an all-you-can-eat buffet of virtual reality experiences. You can provide a cost-effective way to immerse in different backgrounds, including VR games, videos, and educational content.
As VR becomes more mainstream, consumers are ready to explore what the technology has for them. Therefore, starting a VR café can be a highly lucrative business.
3. Start a vr-based sports streaming service
Sporting is one of the domains where VR technology is put to use effectively and aggressively. VR technology enables users to amplify the sporting experience in nearly every field, including consuming content.
A Sports VR streaming service replicates the experience of being courtside at a game where a team is playing, so the user can view favorite sporting events in VR. The service provides a myriad of content, including live streaming sporting events such as the US Open, golden state warriors’ games, and other sports.
With a sports VR streaming service, no more paying for parking and expensive concessions! All the users need are VR headsets and can enjoy their favorite sports through the VR streaming service. Starting a VR streaming service is fun and a lucrative business opportunity.
I’m Zack Johnson, and I run ggCircuit,which provides premium software, services, and support for esports arenas around the world.
UC Irvine Esports Arena - One of our first university customers in 2016
4. Start a VR based marketing agency
Are you enthusiastic about applying new and emerging technologies to improve business processes? If yes, you can turn your passion into a profitable venture by investing in VR-based marketing.
Virtual reality marketing involves brands promoting themselves and their products using virtual and augmented reality technology. VR-based marketing allows brands to craft experiences, engage consumers, and encourage conversion in exciting ways.
Given the potential VR-marketing offers businesses, its demand has multiplied over the past years. Thus, starting a VR-based marketing agency can be a fun and profitable venture.
My name is Joshua Hurley, and I am the owner of 930TECH, a company that provides businesses with digital marketing and technology solutions. My company and I reside in Knoxville, TN. I have lived and worked in East Tennessee all of my life.
5. Start a VR data visualization business
VR data visualization service allows users to experience aggregated data in a virtual environment. Typically, data visualization enables the user to see analytics presented visually so the user may understand what data is communicating.
VR data visualization is in demand across different industries. The service allows engineers, designers, and other professionals to work with real-time data and virtually walk into their data so they can study it from every perspective.
If you love working with VR and are passionate about data analysis, you can consider starting a VR data visualization business. With the high demand for VR visualization services, you can turn your passion into a lucrative business opportunity.
My name is Chelsea Rhoads and I am the CEO/Co-Founder of pup-eeze, the smartest device on four legs. pup-eeze is a wellness tracker for dogs that tracks activity, monitors location and automates our dog’s lives by connecting them with hundreds of smart home devices giving ourselves and our dogs the ability to monitor, maintain and change the environment of the home if we’re concerned about separation anxiety or well-being.
We’ve had great success speaking with and testing the wellness tracker among those who love their dogs and love technology. We thought, “we bring our dogs on every other journey with us, why not include them in the technology journey as well?” With the overwhelming support from the technology community we were able to strategically partner with an emerging leader in the IoT enterprise solution field; Fathym.
6. Become a vr ui/ux designer
With the recent push for metaverse, designers and developers are now intrigued by the world of virtual reality. The UI/UX process of designing for VR is similar to designing for mobile, desktop, or other platforms.
The goal of a UI/UX designer for VR is to simplify complex tasks, improve the usability of a product, and make the VR user’s experience more delightful. UI and UX design are important in AR, where users must interact with virtual objects in the real world.
There is a huge opportunity for UX and UI designers to apply their skills to designing user interfaces for VR. Therefore, starting a UI/UX design for VR can be a profitable venture.
Hey, y’all! My name is Anebi Agbo. I am the Founder and Chief Strategist of Eikon Labs - a web design consultancy. We work with brands that make the world rejoice and seek to only take on meaningful projects.
The idea for Eikon Labs was birthed during my altMBA in 2019. I was working in corporate America at the time and began to have the itch to pursue entrepreneurship. altMBA was a perfect catalyst to help get started.
7. Start a vr app development business
The VR world is growing fast, and analysts predict that the industry will earn over $2.4 billion annually in the next few years.
Starting a VR app development business can be a profitable venture with high growth prospects. From web to mobile, VR Apps are quickly making their way into the mainstream and will soon become a reality! These apps use the power of VR to allow users to experience what V has to offer, including but not limited to gaming, healthcare, and education, among others. You will find VR apps on Mac/PC, Android, iPhone, and Xbox 360.
VR apps are driving revenue and will be a critical industry for mobile apps. If you are passionate about VR and you have some coding experience, consider turning your passion and skills into a profitable business of developing VR apps.
Hello, I am Federico Schianchi and I started Dreamonkey in 2016 with four partners.
Our non-stop improvement and our strategic choices allowed us to grow from the first year $90K of revenue to today $300K of revenue, with the constant growth of 50% per year.
8. Start a VR escape room
Google searches for Escape Room VR has been growing globally. That means that awareness and demand for virtual reality escape rooms are increasing. Therefore, VR escape rooms have the potential for massive growth over the next few years.
To start a VR escape room business, create a business plan. A good business plan should help you track market trends and outline an operational strategy. Select the VR escape room you want to open and select the best location. Finally, select the VR escape room games and consider licensing requirements.
9. Start a 3D animation using vr business
VR will change the game in so many industries. But the potential for it to affect animation is huge. VR allows animators to flourish and become involved in the ever-changing landscape of animators.
3D animation with VR allows animators to bring pose characters in a way that fits the story and create vibrant and life-like surroundings. Applying VR technology in creating and designing 3D animation will improve the interactivity of 3D animation and promote the animation industry to a higher level.
A 3D animation with VR business involves the creation of computer-generated experiences for animation clients.
Hello, my name is Marco, founder of MazingXR (alongside my two co-founders). I’m 27 years old, born and raised in Austria – no kangaroos – it is a small country in the center of Europe. You might know Arnold Schwarzenegger, he is Austrian.
10. Develop a vr payment system
VR is growing rapidly, and its influence has been felt in different sectors, especially in eCommerce. eCommerce businesses have the opportunity to engage potential customers by presenting their target customers with a highly immersive virtual reality shopping environment.
With VR's adoption in shopping, there is a huge demand for VR payment solutions. VR payment systems allow shoppers to pay for goods and services through VR devices.
Therefore, if you are passionate about VR and looking for an entrepreneurship opportunity in that line, consider developing VR payment solutions. Providing businesses the ability to integrate the payment process into their customer experience can be a profitable opportunity.
11. Start a virtual reality gym
A VR gym combines virtual reality and gaming to achieve unique and customized workouts for each individual. Using VR headsets, the VR gym goers see remote trainers in real-time and have them walking through workouts without physical presence. VR gyms make a great option for shy people who do not want to spend hours and thousands of dollars on cross trainers, treadmills, and stationary bikes.
Besides providing users a powerful way to exercise, VR gyms can also be a highly social way of getting exercise.
Global fitness reports show that VR-based gyms are rising, with the annual demand increasing by 42%. Besides, VR fitness technology is becoming more accessible thanks to the reduced equipment cost. According to experts, VR exercise gaming is still a largely untapped market with enormous potential. Therefore, starting a VR-based gym can be fun and rewarding.
12. Start a vr consulting business
With its innovative experiences, virtual reality has entered the wider business sphere, and businesses are keenly embracing its opportunities. As businesses prepare to embrace VR technology, the demand for VR consultants has increased.
The VR consulting experts conceptualize, produce and implement immersive and interactive VR technology and services in line with the business objectives.
Their focus is on giving the businesses they support a competitive advantage and to help them in imprinting the benefits of VR on the business’s ROI. If you understand VR technology and are enthusiastic about applying the technology in business, consider becoming a VR consultant.
13. Start a virtual reality headsets rental business
Virtual reality is here to stay, and it will continue growing in the future. The widespread interest in VR has created a business opportunity as consumers get curious to experience the fantastic technology. However, virtual reality headsets are pretty pricey now, and for many people, VR headset is more of a luxury than everyday device, hence prefer renting.
If you are interested in starting A VR-based business, you could start offering VR headset rental. Your target customers can be those who want to try the new technology but are still not sure they want to invest money in buying their own VR headsets.
14. Start a vr community
A virtual reality community focuses on natively supporting immersive virtual reality technologies. The business makes money by offering premium subscription services and selling merchandise through its online store.
As businesses embrace VR technology, virtual communities have become a go-to resource for professionals seeking assistance and researching various opportunities within the field. Therefore, starting a VR community focusing on a particular industry can be profitable initiative.
15. Start a vr libraries business
A VR library supports VR and AR content access through VR headsets and workstations through authoring software. The virtual library provides learners and users a platform where they connect, share, and engage with users and librarians in an immersive environment through voice and text messages.
A VR library also offers a forum for librarians and users to discuss topics of interest using image-centric technology.
With the increasing interest in virtual reality, increasing technology penetration, and investments in technology, starting a VR library can be a rewarding business opportunity.
16. Start a vr-based museums
Virtual reality technology can transport users to places they might not be able to travel to in real life.
In museums, VR creates museum tours and interactive exhibits and brings scenes to life without requiring users to travel distances to experience museums.
Are you looking for a VR-based business idea? VR museum tours are steadily becoming more common, so starting your own could be a lucrative opportunity.
17. Start a vr based fitness & exercise business
A VR-based fitness business uses cutting-edge, immersive VR technology to create a whole new workout environment for health-conscious users globally. The consumers wear a VR headset that plunks them into the middle of a virtual environment where the trainer engages the trainee.
Statistics show that the adoption of VR-based fitness is on the rise. Thus, if you are in the fitness industry, you may consider starting a VR fitness business. You can upgrade the existing gym into a VR fitness center or start from scratch.
18. Start a VR-based healthcare app
Healthcare professionals are already using virtual reality and other emerging technologies in patient care, medical training, and other areas. According to experts, the application of VR-based healthcare Apps will reach $9.7 Billion in a few years.
The increase is attributed to the increased need for novel diagnostic tools and the rise in neurological illnesses and disease awareness. Therefore, building a VR simulator for the healthcare industry can be profitable. If you are starting a VR-based healthcare business, offer users a web application, android, and iOS apps.
19. Start a vr based classrooms
Virtual reality offers the opportunity to step into places, roles, and experiences previously impossible or inaccessible to most people. Through VR, teachers have everything they need to improve students’ engagement and introduce VR into the classroom.
Therefore, students can apply the technology to experience different careers first-hand and even share their world with others through creating their own VR content. Bringing lessons to life with VR technology is increasingly popular.
If you are passionate about VR and interested in developing solutions to aid learning, you can consider starting a VR classroom application.
20. Start a vr equipment business
VR is an emerging technology expected to have high demand. One needs VR headsets, 360 degrees cameras, and a smartphone or computer with boxed headsets to use VR.
As businesses and consumers embrace VR technology, the demand for VR equipment will continue to increase. Therefore, starting a VR equipment business can be a profitable venture. You can sell brand-new and used VR equipment or opt to rent the equipment.
21. Start an urban planning using vr business
22. Start a vr hardware repairs business
23. Start a vr property sales & leasing business
24. Start a virtual reality professor business
25. Start a vr addiction treatment centers business
26. Start an arena-based vr business
How to start a VR business?
Starting a VR business can be a daunting task, but there are a few things you can do to increase your chances of success.
First, you need to have a strong understanding of the VR market and what consumers are looking for.
Second, it's important to create a solid business plan and track milestones so you can measure your progress.
Finally, make sure to secure enough funding to get your business off the ground. With the right preparation and execution, starting a VR business can be a great way to tap into this growing market.
What businesses use virtual reality?
Businesses in a wide range of industries are beginning to explore the potential of virtual reality (VR). By creating a simulated environment, VR allows businesses to offer an immersive experience that can be used for training, product demonstrations, and much more.
For example, Walmart has started using VR to train new employees, and Volvo is using VR to give customers a realistic preview of their new cars.
In addition, VR is also being used in the healthcare industry for applications such as pain management and physical therapy.
As VR technology continues to evolve, it is likely that even more businesses will find ways to incorporate it into their operations.
How profitable is virtual reality?
The global virtual reality market is currently profitable and is expected to continue being so in the next few years. The market size is estimated to be at USD 28.42 billion by 2022, which indicates a steady growth rate for the market. This rapidly growing industry is expected to bring in sizeable profits for companies involved in it, making it a lucrative investment option.
Hey! 👋 I'm Pat Walls, the founder of Starter Story.
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