What can't be any project launched without? Without a business plan, of course. It is a detailed description of the project with all the calculations for several years ahead. Having it in hand, entrepreneurs go to the bank or to the investors to attract finances and start their own businesses. That's why it is so important to have a clear business plan. But how to draw up a business plan for a VR club and be sure not to make mistakes? We have prepared detailed instructions to help you.
Introduce your company
The first section of the business plan is about the company. Here you should present a short description of your product, the company's staff, the importance of each staff member, the form of the business, the place where you intend to open your business, and what products or services you plan to provide and why. Here are three questions and sample answers to them specially prepared for those who want to open their own VR club and need help with writing this section:
The business niche in the virtual reality industry is yet not occupied. Most cities don't have operating areas. Starting an arena doesn't require enormous sums on doing expensive repairs and buying endless lists of equipment. The required investment starts from $6,000 - it is needed to rent the premises, buy equipment, pay salary to two employees, make small repairs and launch advertising. Profit is guaranteed from the first month. You should calculate the rent of the premises, the salaries of an instructor and an administrator, the approximate number of visitors per month, the price of the game session per hour, etc. If you buy a WARSTATION franchise, you'll receive a package of documents where you'll find all the necessary materials for the start with detailed calculations and descriptions. Low competition, high demand, minimal investment, and fast payback - that's why it is a promising business.
2. Why should the customer choose you?
Virtual reality arena is an absolutely new kind of entertainment. Everything that was described and shown in science fiction books and films now has become a reality. In the VR arena, everyone can be a superhero, conquer Mars, see the city of the future, and experience new and exciting emotions. That's why customers would like to come to the arena again and again.
3. What does your company plan to do in the future?
From this perspective, a small virtual reality club can grow into a large entertainment center, for example, with several arenas and banquet halls, laser tag entertainment, trampolines, and its own cafe.
Study and describe competitors
The second section must contain an assessment of the industry and market opportunities. Simply said, you should study the competitors in your city, and find and describe your potential audience. And since there aren't so many virtual arenas in the world, it won't be really difficult. You might even become the first one in your city or region who will launch his own VR club and open doors for a new type of entrainment. But you should not forget about possible competitors and leaders of the market in this field.
To identify your target audience, you can even have a poll, for example, among your friends on social networks. By doing this, you can get a detailed portrait of potential customers including their gender, age, preferences, etc. VR’s target audience is very wide. It's an active and exciting recreational activity that is suitable for both adults and children aged 6 and up.
Write business operations in detail
The third section must describe the routine work of the VR club. Write in much detail about how you plan to create your service and put it into action. The most important part is to describe your actions from the moment when the customer places an order until the moment when he finishes the game in virtual reality. Write about suppliers, equipment, staff, task fulfillment, and customer support. For this, you can imagine the day before the opening of the virtual reality arena.
What equipment will be used? - VR headsets, gamepads, chargers, a powerful laptop, a camera, speakers, and a TV set.
Where do you plan to buy it? - You can buy it in online shops.
Where do you plan to store it? - In a rented room equipped with an alarm system.
How do you plan to get and respond to customer complaints? - On social media by hashtags, or asking customers after the game. You can organize promo actions or give bonus certificates to customers who were displeased with something.
Don't forget to describe a backup plan in this section in case some unexpected situations occur.
Think well about the budget and write it in detail
In this section, you should carefully calculate and write out all financial details. Sources of finances, sales volume, payment schedule, fixed expenses (for example, rent payment) and variable expenses (for example, snacks and soft drinks), analysis of the net profit and profitability. For those who want to become a WARSTATION partner and start their own arena, we have prepared a financial model for cities of different sizes of the population.
Make a plan for achievements
The last section can be devoted to the description of realistic intermediate goals and deadlines for achieving them. You will have a step-by-step plan with deadlines and backup variants. You can correct it after you have already launched the arena and started receiving the profit, noticed the drawbacks, or decided to develop and expand.
A clear business plan will help you more realistically evaluate the start of a new business and assess its risks and benefits. And most importantly, it will help attract investment. You can always trust the professionals, become a WARSTATION partner and get full support at every stage. We can help you become successful in the virtual reality business with minimal risks.
No spam. Only the latest issues and tips, interesting articles and exclusive interviews every week in your inbox.
Get Business Materials for Partners for free!
Test notify header
text notify text