There is no doubt about it: the global gaming industry is one of the most breathtaking success stories of our time.
According to a Newzoo report, there are now 2.4 billion gamers worldwide – and by the end of 2018, they’d generated no less than $137.9 billion in game revenues. That means the industry increased by 7.5% in a single year – and the growth shows no sign of stagnation.
For companies active in the gaming space, and particularly in digital gaming ecommerce, this represents a tremendous opportunity. And not only. If you are among those who consider gaming a hobby and want to capitalize on it, why not join the club and start your online gaming-related business?
Three profitable small business ideas
Coach People on How to Play Video Games
There are people who love video games but find it difficult to master the art. If you are a professional gamer, then you can consider opening a center where you can train people who want to learn how to play video games. Gaming coach became very popular recently and if only well managed it may be profitable and satisfactory at the same time.
You can consider starting a video game vlog on YouTube or other social media; a video where various players can see their most favorite games, played or reviewed. If this’s well planned and packaged, you can attract investors and sponsors. Additionally, you can create some contest with prizes which boost up your subscriptions and likes. It is also important to make the prizes attractive if you want the competition to be stiffer. You may also advertise something or sell some attractive ideas or products.
Figuring out a way to get people to engage with your game title launch, or to get your products onto anyone’s radar, is really, really tough. Many companies lack the budget for super-expensive paid marketing drives. Even once you’ve got someone’s attention, you still need to figure out how to usher them through the funnel, from signing up, to installing the game, to (in the case of premium models) making a purchase and becoming a paid user. After all of that, you still have a ton of work to do to maintain their interest, drive engagement and maximize your average revenue per user, in order to make a profit and prove the game was worth making.
Gaming gadgets rentals
Renting out gaming accessories, gadgets, and every other device that is needed for gaming is the best way to keep all the gamers happy. The business runs on the concept of rotation and can be also affordable by anyone who wants to have a good time without burning a hole in the pocket.
At a time when everyone’s complaining that movies are becoming a waste of giant budgets, games have stepped in to take up the creative mantle. People of all ages, genders and nationalities have become completely sold on gaming – some for the challenge element, some for the escapism, some for the thrill of placing yourself firmly into a fascinating world and making that narrative your own.
There’s never been a more exciting time to join the gaming industry with your own business. And last but not least, remember: “A game is an opportunity to focus our energy, with relentless optimism, at something we’re good at (or getting better at) and enjoy. In other words, game play is the direct emotional opposite of depression.” – Jane McGonigal “Reality is Broken: Why Games Make Us Better and How They Can Change the World”