One of the easiest ways to make money in Nigeria is to start a business. It is preferable to start an online business but let us face the fact not everyone is meant to start their business online. Some of us are meant to start a physical business that has a physical address.
This business can be a buy and selling business or it can be a service rendering business. In this article, I will be sharing with you how you can start a video game center or a video game business in Nigeria. I will be sharing how much it cost to start a game center in a country like Nigeria, the business plan, whether the business is profitable, and more.
Nigeria is an underdeveloped country and due to this about 80% of its citizens cannot afford luxury items. Many of them cannot even afford a three square meals daily. And despite all these many children and young adults who cannot afford computer games still want to have a feel of it and the amazing things it offers.
Thus the high demand for gaming centers in Nigeria. If you start a video game business in Nigeria you can be able to provide these video games for people to play at a price.
Is Video Game Business Profitable?
The video game business is a profitable business in Nigeria. It is profitable because Nigerians like playing all sorts of games and they can pay money to play these games. It is also profitable because like I said earlier many cannot afford to buy these video games in their homes.
So due to this, they will have to come to the video gaming center to play games. The third reason why it is a lucrative business is that it is highly addictive. Video games or any kind of game can be very addictive and when it is addictive your profits margin will increase because customers will pay more – spending more time in your gaming center.
How to Start a Video Game Center in Nigeria
Here are the steps to start a video game center in Nigeria.
1. Write a Business Plan
If you really want to start a successful video game business in Nigeria and you are thinking of investing hugely into the business you need a video game business plan. A video game business plan will guide you on everything you need to know about running a video game business in Nigeria.
It will inform you on the capital needed to start the business whether on a small scale or large scale and how you can make profits from the business despite the fact you are new to it. Today, there are many business consultants that can write a business plan for you.
You may even find any of these people online but if you cannot locate any you can write the business plan yourself with any business plan templates you find online.
2. Get your Starting Capital
After getting someone to write your business plan or writing it yourself the next step will be to get the capital needed to start your video game center. Capital is very important in any business. You need capital to bring your game center into reality.
The capital needed to start a profitable video game center depends on many things. It depends on inflation – the current prices of goods and services in the country. It depends on how big you want your video game center to be and it depends on the location you want for the business.
With a minimum of #1.5 million, you can start a small-scale video game business center in Nigeria. This capital will take care of all your expenses at least for the two months of the business and one year rent.
3. Get the Equipment Needed
You need equipment to run a profitable video game center in a country like Nigeria. These equipment ranges from the most important to the less important. These are
1. Video games (different types)
2. Plasma TVs
4. Fans (Standing or Ceiling fans)
6. Light bulbs
7. Seats (chairs or benches)
For the games, you can buy PS 4, PS 5, Xbox, and any other new computer games Nigerians will like.
4. Rent a Shop for Gaming Center
If you want to start the video game center in your house it is important to rent a shop and there are a few pointers to note when you are renting a shop for this business. The first thing you need to take note of is that the cost of your shop rent should not be expensive.
Your shop rent should not be more than 30% of your initial capital. The second thing you should watch out for is the location of the shop you want to rent. You cannot rent a shop for your gaming center in an isolated place or area. You need to rent a shop in a highly-populated area.
This will help your business to make profits easily because it will make customers locate your game center fast and visit you. The third thing you need to do is to make sure your shop is spacious enough. Remember it is a video of the game center.
5. Install Games and Equipment
After renting your shop the next step will be to install your shelves, TV, and video games. To do this you will need the services of an electrician. The electrician will help you run wires for your light bulbs and for your TVs and games. You will also need curtains or window blinds to make the gaming center dark and cool.
Some blue lights or colored bulbs will go a long way to make the place conducive. Ceiling fans and standing or wall fans will be good. It will make your customers stay for a long while.
6. Start your Video Game Business
Immediately you get your set up right you can then start your video game business. Invite family and friends to come to have fun and give them discounts. Open necessary accounts so that you can monitor your income and expenses. In the account books, you can have a place to record the number of gamers that played and how much they played. You can measure how they played by minutes or by game sessions.
7. Advertise the Video Game Center
Advertising your video game business is very important. It is necessary for people in that area to know that there is a video game center around them. You can posters or handbills to run these adverts. Run the adverts for 6 months to 1 year before you stop. Read our guide on how to advertise your business on Twitter in Nigeria.
Starting a video game center in Nigeria is very lucrative. It is a business that never dies due to its high demands. It is a business that will yield high profits day in and day out.