The video game industry is one of the few sectors that’s growing despite the pandemic. It’s reaching peak sales, and hundreds of entrepreneurs are flocking into this industry to get a piece of the billion-dollar pie. But the question is, what kind of business should you start in this ever-growing market?
The video game industry is a billion-dollar market that has multiple sub-sectors. These sub-sectors work in a rich ecosystem that still relies on the simple principle of supply and demand. However, unlike other industries, video games aren’t a real necessity, and just like the entertainment industry, trends can change overnight.
Experts in the industry believe that working in key sectors is important if you want your business to survive in the long run. Furthermore, they argue that it doesn’t matter what genre of video game you’re working in. What matters is if it’s a key sector or not. With that in mind, here are some of the best businesses you can start in the video game industry right now.
About half of gamers play on personal computers. That’s a huge market in itself when you think about it, and that market is about to grow, considering the lack of supply from consoles right now.
There are two ways you can start a business in this sub-sector. Either you start a retail computer shop or create a website that helps people build their dream PCs. The former isn’t looking too hot right now, while the latter is quickly becoming the go-to platform for many gamers worldwide.
PC building, in general, is a good business to get into, considering today’s gaming ecosystem. Eventually, you can start becoming one of the best websites that build custom PCs. It’s an easy path there, considering that demand for custom PCs is high, and you technically only need a well-optimized PC and a good supplier. All of which are available in today’s business ecosystem because demands are high.
The point we’re making here is to becoming a dominant brand through marketing and supplying the needs of consumers. So since the need is there right now, you should only be investing a lot more into marketing.
Software development is at the core of video game production. Without decent enough software, your video game will fail to start. This is why billions of dollars are being poured by video game companies into software development. One good example is the Unreal Engine.
Unreal Engine is one of the most coveted video game software out there. The developer behind this robust software is Epic Games, and they have made billions of dollars out of it. There is a lot of space in this sub-sector since expertise is always welcome. However, it can be one of the more challenging and more expensive sub-sectors in the industry.
To succeed in this sub-sector, you must essentially create software and a video game that can exhibit the strengths of your software. This requires years of development time and millions of dollars in funding. However, if you’re creative enough, there is a good chance your development studio becomes viral in no time: huge risk but even higher rewards.
Indie Game Development Studio
Lastly, we should talk about indie developers. Indie video game is taking a huge chunk of the revenue made by the industry because of how accessible it is for consumers. The price to start this kind of business is much cheaper as well, and if you’re the kind of person who’s really into gaming and you’re creative enough, you can start an indie video gaming studio from scratch.
You don’t need to invest too much into software or even know everything about programming. There are many indie video games out there that have been made from third-party video game engines that only require you to make scenes and characters out of it. Instead, we suggest you make your name in the modding scene and work your way up once you get investors.
Another way you can start your studio is by making a video game by yourself. A singular developer makes Billion-dollar games such as Minecraft and Undertale. Yes, you’ve read that right. One person has made those video games through their passion and dedication. However, armed with today’s technology, you can easily create games with you or a small team of developers.
So here are some of the best businesses you can start right now in the video game industry. There is an example for each budget tier. Suppose you have little to no budget to start an indie game development studio. If you have a moderate budget, then PC building is for you. But if you have investors willing to spend millions, starting a software development company is the best choice.