Learn how to open a game center business — Gaming parlour business plan Gear up your motivation for your new business Starting your new business has always been exciting, daunting and definitely an interesting venture. If you are thinking to start your business, you may think of starting your own video game parlour as it is a good venture to begin with without the added hassles of stress and strain. They may even come to your outlet to upgrade their old gaming box in exchange of a small fee. But gaming is a popular partime among people all across the world and India is not an exception here.
The only way to get your foot in the door with potential investors is to have a good gaming concept and a well-written business plan.
Unfortunately, as many "digital entrepreneurs" are finding out, writing a business plan for a new media venture is not easy and writing a business plan for a gaming project is as much art as it is science. Why is it so hard for an independent gaming project to get financed?
I think there are a couple factors that make it tough to convince investors that independently produced games are worth investing in: Smaller players have either had to play ball with the bigger boys or fold up shop.
Very few projects ever make it to the shelf - The industry has consolidated to a point where a few large companies control distribution. Most successful games have to find a distribution deal with some major even if they are produced independently.
While the process of getting financial backing is tough, it can be done. A sound, well-written business plan that deals head-on and convincingly with these two aforementioned issues is the key.
All investors, regardless of the industry, look for projects that will give their investment back, plus a premium. Creating a business plan that tells the story of your gaming project accurately, while at the same time relating its money making potential, requires finesse with both words and numbers.
You must nail down the specifics of every aspect of the project in order to prove that it is executable. In other words, if you are going to ask someone to fund your project, you have to do your homework. The following are some tips and tricks that I have learned the hard way while pitching gaming projects to various types of investors.
Hit The Books Finding benchmark data that works for entertainment and new media projects is tough to do. Background data is valuable because it creates the foundation upon which all your financial and strategic assumptions are based.
Professional business plan writers know that reference in the plan to a secondary report, study, survey or business case study can do a lot to satisfy a skeptical investor.
Competitive analysis magazines like Game Developer, do a thorough job of tracking consumer, technological and industry trends. Even the most unusual trade magazines like Supermarket News, Texas Monthly, Forbes track sales figures and growth rates for the video game industry - everything you need to fill your business plan with cold, hard facts.
You are adding tremendous credibility to your plan by including this secondary data but be sure to include quote citation in a footnote in your plan.
Nail The Executive Summary The Executive Summary is the one section guaranteed to be read by everyone who looks at your business plan. How do you know what to put here? Then all you do is create a summary paragraph headlined by each section title.
The Executive Summary should reiterate the most crucial points from each section, even if it sounds like a repeat. The final paragraph of your Executive Summary should be the Funds Sought paragraph.
There you should clearly state how much money you need and what the return on investment will be.Discover the latest video game release dates at Best Buy. Find all the latest news & events on our gaming calendar.
Online Gaming business plan sample prepared by Newton Group Marketing's professional business plan writing services. Website: attheheels.com These distances will be determined by measuring from a proposed or existing Licensed Video Gaming Location to a preexisting facility, riverboat, school or place of worship by drawing a straight line between the closest part of any building used for the proposed or existing Licensed Video Gaming Location and the closest part of any building used for the facility, riverboat, school or place of.
I would like to know more information on the subject “Starting A Game Center/Lounge – A Profitable Business Plan For Video Games Lover” Reply Chandrasekhar November 2, .
Goldman Sachs predicts competitive video gaming will become a billion dollar opportunity in the next few years and media giants are starting to take notice.
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