Have you ever thought of turning your love of gaming into a business? If ever there’s a right time to get into a gaming-related venture, it would be right now since the video game sector is larger than other entertainment industries combined. According to recent data, the video game industry is expected to reach $256.97 billion by 2025, and experts predict that gaming trends such as digital-only games and indie games will contribute to this sector’s growth.
Most people think that making a new app or starting a gaming studio is the only way to get into the gaming business. However, there are various ways to turn your love of video games into a money-making opportunity– if you’re an avid gamer, here are some fun business ideas to turn your passion into profit.
Gaming Lounge
If you enjoy a loud (and sometimes rowdy) work environment, then opening a gaming lounge may be the right move for you. There’s a huge demand for gaming facilities like this since it gives old and new gamers opportunities to have social interactions. Also, people who love to play on other gaming setups apart from their own tend to visit gaming lounges frequently since playing on a different console or computer enables them to improve their skills. Gaming centers are estimated to make a margin profit of around 43 percent, so why not open a gaming lounge in your area?
When executed correctly, opening a gaming lounge can be a lucrative business. However, the startup cost isn’t cheap. You can expect to spend about $60,000 to $145,000 to cover the cost of remodeling and interior design, video game consoles and gaming accessories, rent and security deposit, and food and beverage inventory, among others. To secure funding, consider getting a bank loan, or ask your other gamer friends if they would like to be co-owners of the business.
You’ll also need to get your paperwork in order since your business must be properly registered in your state. To register a business, you need to state whether it’s a sole proprietorship, a partnership, or an LLC. So for instance, if you’re opening the business in Michigan and you co-own it with a few friends, look up a guide for starting an LLC in Michigan so you can follow the process, step by step.
Escape Room
Those who love escape room video games like “The Room” or “Portal” may want to consider starting an actual escape room business. This type of business is in-demand since it’s a go-to for team building and family activities. It’s also great for gamers who want to take a breather from their consoles and have an interactive and immersive gaming experience. The startup cost to build one escape room can range from $7,000 to $20,000, but if you’re looking to have multiple rooms, you can expect to spend between $88,000 to more than $200,000. This will cover the cost of escape room design and construction, gaming systems and tech, staff and labor costs, and building permits.
Competition is fierce in this type of venture, so to stand out from the other escape rooms in your area, create fun and original puzzles, and add an element of surprise to certain rooms. For instance, having zombies or a creepy clown lurking in certain areas will surely make your escape room unforgettable. Check that the games don’t break immersion, and don’t use darkness to cover up a poorly designed room. It’s better to spend a bit more on room concepts and designs if it means that people will keep coming back for more playtime.
Game Bus
You probably know about party buses, but have you heard about game buses? This unique business concept offers a mobile gaming experience to a wide range of customers. Basically, this business consists of a gaming bus, van, or truck that’s equipped with gaming consoles, interactive games, and next-level decor and lighting. Since your business is on wheels, you can drive it anywhere and make the most of it by marketing the game bus as an activity for weddings, stag parties, bridal showers, children’s birthday parties, corporate events, team building, and so much more.
The cost of starting a game bus business varies based on several factors. If you’re thinking of becoming a franchisee, there are some companies that offer a game bus or truck franchise like Game Truck and Extreme Game Truck. Being a franchisee takes most of the guesswork out of starting this kind of business, and you’ll get a lot of support from their corporate office. For a franchise, expect to shell out anywhere from $200,000 to $400,000. This covers the cost of the vehicle, franchise fee, and training, among others. Meanwhile, if you’d rather start a new game bus business, it’s likely that you’ll spend a little less, especially if you purchase a second hand vehicle. However, the cost of turning an ordinary bus or truck into a cool gaming hub can be quite expensive, so it might be worth it to get a franchise instead.
Running a game-related business is not only lots of fun, but it’s also extremely rewarding as you can earn a good profit from it in just a short period of time. Consider these ideas to start a new business, and do your research to find out which type of venture is right for you.