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    8 Replies Latest reply on Jan 1, 2010 9:10 PM by yehia1

    Would like to start business, where do i begin?

    jranguel Newbie
      I am interested in starting an Online Gaming location near my home. I'm very familiar with most online games and all different gaming systems, from pc's, xbox, playstation and wii's. The only issue is that i've never started a small business and i would like to know where i need to start. I've located a spot that i think would be perfect. It's near the schools, lots of kids in neighborhood and the closest one to me is about 20 mins away. Now a days, kids from 8 to 16 are playing games with or against other players via internet. I would just like to start somthing that i'm interested in and would love doing every day. I'm familiar and know my way around pc's, i know what games are popular and i'm always seeing what's available to making one's gaming experience, the best possible. If anyone out there, has any advice please let me know. Thanks.
        • Re: Would like to start business, where do i begin?
          LUCKIEST Guide
          Would like to start business, where do i begin?? Welcome

          Begin at the beginning. Start by telling us a little about Yourself, Your background and
          why you are interested in starting an Online Gaming Business.
          there are pro's and con's about starting a business near your house.

          If this was me and I wanted to start such a business, I would begin by doing TWO things.

          One, I would develop a Business and Marketing Plan.
          Two, I would contact SCORE. SCORE is FREE both in person and online.

          Good luck and keep us posted, LUCKIEST
          • Re: Would like to start business, where do i begin?
            Lighthouse24 Ranger

            I would start with cost projections (there are worksheets for those on the SBA website and other sites, as well). Identify (item by item) how much money it will take to capitalize (start-up) the business, how much it will take to operate it each month (lease, maintenance, utilities, wages, taxes, everything), and how much it will cost to advertise. Whatever amounts you come up with, add 30 percent to them.

            Then do revenue projections -- calculate how much money you'll make in sales each day for the first two years based on the equipment that you'll have and the customers that you'll get. Whatever amount you come up with, subtract 30 percent from it. If your figures show that you have enough money to get started, and would have more coming in than going out each month, then you can move forward into finalizing a detailed business plan. If not, then you'll know what variables you have to adjust or obstacles you have to overcome to make the concept viable.

            Yes, the 30 percent is a big margin of error, but it's about right if you're ballparking all the estimates yourself and have limited business experience. (It's also about the real cost of what you'll pay each month if your estimates are wrong and you need to cover losses). If you can get planning help or input from someone who has owned and operated that type of business, then you can reduce that margin of error accordingly.

            Hope that helps. Best wishes.
              • Re: Would like to start business, where do i begin?
                jranguel Newbie
                Thank you. That actually is very helpful. I'll get started this weekend. There may be an issue with one thing. Getting info from another business owner with the same concept. Most of the time, small business owners do not want to share their input, especially when it will be very similar to theirs. But i will take that into consideration and try to speak with them. Again, thank you for your advice.
                  • Re: Would like to start business, where do i begin?
                    Lighthouse24 Ranger
                    Although I can't offer specifics, I'm sure the industry has numerous trade associations and publications -- you might investigate those as a possible source of information. Other businesses in the area that would not compete with yours, but that currently draw or serve a similar customer base might also offer insight (for example, an X-shop for skaters, BMX bikers, etc. in the same neighborhood might have pretty good info about the traffic/sales patterns you'd see from your target market). It's good to talk to all the neighboring businesses around any location you have tentatively picked out -- because they will generally benefit if a good new business comes in, and will therefore be willing to share knowledge to help you get started successfully (unless they don't want you there -- in which case, it's good to know THAT before you get started, too).
                • Re: Would like to start business, where do i begin?
                  intechspecial Ranger

                  First and Foremost, Welcome to the Community.

                  You need to begin here:

                  Ask yourself: Can I really make this happen?

                  How much will you need to start your business up?

                  Calculate the costs for the buildings rental, equipment needed, internet hookup, etc.

                  How much will you need to keep the business going? What is it going to cost someone to be a part of this? Why would they pay you to play a game when they can do this at home?

                  Have you thought about security? Somebody does not like your idea and plants a virus on your computer, or something else that is inappropriate. How will you monitor activities?

                  Are you going to use Personal Computers? Will a server manage these computers? If not, who is responsble for the game systems(xbox, ps2, etc)?

                  Think about the worse case scenario first and this might give you a better perspective.

                  Example: You are financed to start your business. You get a loan for 7,500 and purchase games and game systems for the building. In the middle of the night someone breaks in and steals every penny of equipment you have. You landlord has insurance that covers the damage from the break in, but you are repsonsible for your own equipment.

                  Now you owe 7,500 and have no systems to make back the money.

                  Best to think things through from finish to start, and focus on the risks factors before just the results of a business dream. Ignoring the risk factors will not make them go away, in fact ignoring them will insure that you are not prepared when they do hit.

                  If owning a business was as simple as dreaming it and then it happened I would be rich by now. Did I mention that I am not rich?

                  Welcome to the community, I hope that your business dream becomes a reality.
                  • Re: Would like to start business, where do i begin?
                    Blulucid Newbie
                    For the past few months I have been developing a business plan for this type of online gaming concept. I'm curious where you were planning on opening your location?

                    I'm also interested in what your experience is with the gaming community as a whole-- in what ways have you been involved in the evolution of the gaming community?
                      • Re: Would like to start business, where do i begin?
                        jranguel Newbie

                        Actually a few months ago i noticed a place that was opened pretty late and had pc in neon lights. So i decided to check it out and i saw an entire room filled w/ pc's, gaming systems, flat screens and a very comfortable environment. I just could not believe that there was an actual place like it. I have been playing online games seriously for about 2 1/2 years now and growing up, if i knew there was a place near i was growing up i'm possitive i would've been going there. The place i'm thinking about is near the high school "Dolbie High" near beltway. That's not to say it's the only place i've decided. I've also have been going around other areas of houston and have been imaging how a game shop would do here and so on. There is a spot online that helps w/ advertising and a community of other online gaming shops, here it is if you'd like to check it out. www.igames.org
                      • Re: Would like to start business, where do i begin?
                        yehia1 Newbie

                        well it seems like the whole world has computer cafes were you can sit down play on the pc then pay via hour why dnt you setup a place more torwed the teens a place you can sit down and play one another as well as have xbox compitions and what not frist year will be slow inless their nothing to do in town but its hard if your in a lower end income cuz times like this that more or less is a fancy luxury some cnt affored