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13% of the US population will use virtual reality in 2019 at least once per month. It is anticipated that this figure will continue to grow.
Virtual reality (VR) technology is developing rapidly and it gains traction with experienced and young entrepreneurs and venture capitalists. It has numerous benefits, including attracting a new audience, expanding business opportunities, and increasing business’ functionality.
In the wake of its global popularity, you can start your own business in virtual reality. We will share some startup ideas. Use them to jump into virtual reality.
Rental of virtual reality headsets
There are many users who want to try out this technology before purchasing a virtual reality kit or those who just want to get a new experience. Both groups are your target audience because you can offer the whole VR package (including the headset, controllers, a powerful PC) for rent.
The initial investment is about $3400. The initial investment will quickly pay off because rental prices are pretty competitive. So, for example, renting the HTC Vive headset will cost $35 a day or $175 a week, and renting the Oculus Rift will cost a little cheaper – $30 a day or $150 a week.
Virtual reality games
This is a great idea for game developers and designers. If you have the necessary skills and experience, then the development of virtual reality games has tremendous financial potential. Note that you need a team of dedicated professionals who will join their forces to create a top-notch product. Once you have created a VR game, you can sell it for at least $20.
A YouTube channel
According to statistics, more than 200 million various videos are seen by people on YouTube every day. Thus, this is a great platform to popularize this technology and capitalize on its rapid growth.
You can start a YouTube channel where you can upload different hardware and software reviews, game reviews, game tips. Besides, you can host streams and discuss new VR products with like-minded people. The more diverse, interesting, and valuable your content is, the faster is the channel growth. Once you have earned the trust of the audience, you can become an influencer and collaborate with game developers, manufacturers of headsets, and business owners.
Virtual reality parties
If there is a large VR community in your city, you can organize VR parties. You can play games together, discuss the latest news in the virtual reality industry, or develop links with relevant companies and professionals.
Virtual reality escape rooms
Escape rooms work beautifully in VR, adding elements that would be impossible in real life while maintaining that essential sense of urgency and anxiety!
This is a great idea for your startup as a virtual reality escape room business has low competition, it does not require constant financial investments, and has huge potential. All you need is to buy the necessary equipment, rent a well-ventilated room without a special interior, and find a reliable and professional developer of virtual reality escape rooms.
For example, ARVI, a leading developer of innovative virtual reality escape rooms, offers immersive games of different genres. They don’t cause VR motion sickness and they ensure a perfect balance between graphics, detalization, and gameplay.
A pop-up movie theater
You can monetize an amazing movie experience by offering 360-degree pictures and videos. Just find a suitable premise and buy the necessary equipment.
Applications for estate agents
Walking through any space in the virtual reality world gives a perfect sense of presence. This is the best way to find real estate in any part of the world. As a developer, you can create a special application for realtors that will allow exploring any premise without physical presence.
You can create education courses for different groups with this interactive technology. For instance, people can find themselves on the battlefield, visit Mars, or talk with a famous historical figure.
This is a great opportunity to make a profit by spending less. You shouldn’t rent any space or pay overhead expenses. All you should do is to give a customer an opportunity to explore your virtual reality shop, try on clothes in a virtual fitting room, and then purchase all items.
A virtual social platform
Creating a social platform where you can meet with friends, play interactive games together, communicate, dance, or even go on a date is a startup with great potential.