How to get into the video game business

In the first part of this article we talked about the enormous opportunity that exists in the business of gamers or video games and how they have evolved in 30 years with unstoppable growth that today represents a multi-million dollar industry.

Today I share with you some concrete ideas of how to get into the video game business with different levels of investment.

Of course, we all want to enter the profitable business of videogames through the big door, which is developing them with a score of great programmers, cutting-edge technology, state-of-the-art software and a well-positioned brand. And it would be great but for that we would need millions of dollars of investment.

The good news is that the business can be exploited from different angles just like other businesses. Remember for example that for get into the car business You don’t have to be the owner of BMW, instead you can be a sensor manufacturer, an electrical systems designer or a tire supplier and still be part of the auto industry.

So if the video game industry currently represents a market of about 30,000 million dollars a year, the question is, what portion of this cake would interest you? How about 1%? Too ambitious? If you do numbers you will see that 0.0001% of this cake represents profits of about US $ 3 Million a year.

If it sounds interesting and attractive to you, here are some ideas:

  1. Sale and distribution of video games for consoles. This is the option that has to do with the distribution of games for consoles known as Play Station, Nintendo and Xbox. To distribute the games you can affiliate with a wholesale supplier from whom you can buy them at a special price leaving you a profit margin. Although the pirate market tremendously affects this line of business, it is still profitable if you focus it on a medium-high customer segment that can afford it and who prefer original games.
  2. Sale and resale of consoles and accessories. Complementary to the previous one, you can also distribute consoles and accessories for video games and you can even consider the resale option. In other words, you can receive used consoles and resell them, thus obtaining a profit margin. Used consoles can be received either on consignment or for a price that leaves you at least 20% to 35% profit. This option is interesting for people who do not have access to the latest technology consoles such as Wii or PS3 and who for a few dollars less can buy a PS2 or Nintentendo Gamecube.
  3. Set up a game room. All young people are addicted to games, but because of its costs, not everyone has access to a modern console at home with a dozen games. So you can install a game room where you can have a variety of consoles and games available to your customers who would pay you per game hour. The investment of course is in acquiring some televisions, consoles and a range of the most popular games to offer as well as the basic infrastructure for the operation of the business such as a small premises, furniture, etc. Internet cafes have taken advantage of this line of business very well to offer additional services to their customers, but your garage at home could also be a good place to consider. Another very attractive additional advantage of this option is offering your clients the possibility of playing online.
  4. Game development. Although the idea of ​​developing large-scale games is a business for millionaires, I tell you that there are many medium-sized companies that are entering the industry with their private contributions. And the good news is that they are succeeding. Entrepreneurial companies that hire small teams of programmers and designers can achieve significant income with a few very interesting products, especially if they can sell it to a good brand. The variety of options to be developed is an advantage since now you can think of products not only for consoles but also for the Internet, for mobile phones and for portable consoles, thus increasing the chances of successfully entering any of these markets. So if you really are a fan of games, you already have an advantage in your favor!
  5. Purchase lots of games at auctions and resell them. If you have visited eBay, you will find that there are fabulous deals on used games in lots of 5, 12 or up to 100 games at extraordinary prices. The advantage in this regard is that the average price of a game bought in batch can range between 10 and 20 dollars and you can easily resell them for 35 to 40 dollars obtaining almost a 100% profit.
  6. Console repair. The very fact that there is a high demand for videogames, means that there is also a demand for technicians who solve problems of failures in consoles and controls, chipping or calibrations. You can specialize in this by taking a course and offering your services either through your own workshop or to wholesale distributors and stores. You can see in this link an example of a technical course for video game console repair or a video game repair guide.
  7. Organizes gamer contests. Young people and game fans have a special attraction for competitions between players of similar level. Competing in strategy games or just playing online are enriching experiences that you can turn into a business. Organizing championships or contests can represent good income if you use any good marketing strategy. You can get sponsors to contribute the prizes and promote the contest locally in your area. Creativity is essential in this type of business.
See also  The 10 Mistakes Every Entrepreneur Should Avoid When Starting

There is definitely still a lot we can expect from this industry for the next few years. The development of new technologies is a determining factor along with the expansion of the Internet. Today is a good time to start and take advantage of the video game boom.

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