The DVD, game, and video rental industry is an $898.9 m market expected to decline by about 13%. However, there could be potential for growth in other niches like pool tables and arcades as people tend to get out of their homes after the pandemic because they will want fun activities around them again!
So, this is a great opportunity for those looking to start their own business. If you’re looking for a way to get into the gaming industry, arcade games rental for business is a great way to do so.
This is an untapped niche market. There is always a special event, outdoor event, or trade show in each community. Be the first to serve those people by starting your game rental business.
In this blog post, we’ll go over the basics of starting your own arcade game rental company. We’ll cover topics such as how much it costs to start up, what kind of equipment you need, and how to market your new business. So if you’re interested in learning more about this business idea, keep reading!
What are the benefits of starting a game business?
One of the best things about starting a game business is that you can have a lot of fun doing it. If you’re passionate about video games and enjoy playing them, then owning your own game company can be a dream come true.
You’ll get to work with some of the most creative minds in the industry and be a part of something you’re passionate about. Of course, there will also be a lot of hard work involved, but if you love what you’re doing, then it won’t feel like work at all.
Another great benefit of starting an arcade machine hire business is the potential for good investments. If you can create a successful game company, then the sky is the limit in terms of how much money you can make. Of course, there is always the risk that your games may not be successful, but if you’re smart about your investments and choose your projects wisely, then the rewards can be great. In short, if you aim for success:
- You can provide a much-needed service to your community.
- You can make a great income by renting out popular games.
- You can build a large customer base by offering discounts and promotions.
- You can have a lot of fun while running your business!
What you need to start
There are a few things you’ll need to get started.
- You’ll need a place to store and maintain your games. This could be a storefront, a storage unit, or even your garage. See what locations are good places to rent video games.
- You’ll need a selection of popular arcade games. You can either purchase these outright or lease them from a game company.
- Finally, you’ll need to market your business to potential customers.
With a little planning and some basic start-up costs, you can be in business in no time!
How to set up your business
So, how do you get started in this industry? Here are a few tips:
1. Do some research
The first step is to do some research and collect enough information about the game rental business. This includes understanding the market, the competition, what equipment you’ll need, and how to price your services.
2. Licensing,
Before you can start your business, you’ll need to obtain the proper licensing and insurance. You may also need to get some permits, depending on your location.
3. Get insured
Last but not least, make sure you get your business insured. This will protect you financially if something goes wrong with one of your machines or if someone is injured while playing.
4. Find a supplier
Once you know what classic games you want to offer, you’ll need to look for suppliers. You can either purchase the games outright or lease them from a game company.
5. Choose a storage solution
Now that you have your games, you’ll need to decide where to store them. You can use a storefront, a storage unit, or even your garage.
6. Invest in quality equipment
If you want your business to be a success, then you’ll need to invest in high-quality games and machines. This is an important expense, but it’s one that will pay off in the long run. You also might need some furniture, like gaming chairs, to add to your rental packages.
7. Set up a website
In today’s day and age, it’s essential to have a strong online presence. One of the best ways to do this is to set up a web page for your arcade games rental business. This will give you a platform to showcase your services, rates, and contact information.
8. Get a rental software
Next, you’ll need to get a rental software solution. This will help you track your inventory, process payments, and manage your customer information. Good software also calculates the delivery and pickup fee for each order.
9. Market your business
Finally, you’ll need to market your business to your prospects. You can do this by handing out flyers, advertising in local publications, and setting up a booth
How much money do you need to start
The first thing you need to do when starting a rental business is to figure out how much it will cost to get started. This includes the cost of renting space for your business, as well as the cost of buying or leasing gaming equipment. The good news is that there are many ways to save money on these startup costs.
For example, you may be able to find used gaming equipment for sale online or at local garage sales. You can also look into renting space in a commercial building, such as a retail store or office complex.
How to find the right location
There are a few things you should keep in mind when looking for a location.
- Because you are going to rent arcade games, you don’t need high traffic and an expensive location. You need a warehouse to store your inventory with a small office for your administrative daily tasks. You should be able to find a great location that meets your needs without breaking the bank.
- People are going to mostly find you online, and you may even never meet them. They will place their order over the phone, and you just deliver the items to them. So it’s good to have a loading bay to use with a forklift.
- Another important factor to consider when choosing a location is the cost of the rent. You’ll want to rent a location that’s affordable, so you can keep your operating costs low. You should also make sure that the location is zoned for commercial use, so you won’t have any problems with the local government.
What kind of games to have
Next, you need to decide what kind of arcade game machines you want to offer for rent. There is a wide variety of options available, from classic arcade games like Ms. Pac-Man and Donkey Kong to newer games like Dance Dance Revolution and Guitar Hero.
If you can not afford to buy all these games, you can look for sellers that offer “Rent to own game consoles.” That will make it easier to start earning money.
You’ll need to consider the age range of your prospects when making this decision. For example, if you’re targeting families with young children, you’ll want to offer appropriate games for that age group. On the other hand, if you’re targeting teenagers and young adults, you can be more adventurous with your game selection. For example, you could offer games popular in the e-sports world, such as League of Legends or Counter-Strike: Global Offensive which is a great game.
Racing games, Pool tables, Sports Games, and photo booths are some of the most popular games among all age groups. So, you can never go wrong by including them in your list of rental options. But if you want to stand out from the competition, you can also offer other unique games like:
- Air hockey table
- Foosball table
- Pinball machines
- Digital jukebox
- Ping pong
- Giant Jenga
- NFL Blitz
No matter what games you decide to offer, make sure you have a good mix of different genres to appeal to a wide range of audiences.
How to price your games
Once you’ve decided what games you want to offer, you need to set rental rates for each classic game. You’ll want to find a balance between making a profit and having a competitive price table for your rentals. One way to do this is to research the going rates for similar businesses in your area. You can also offer discounts for multiple game rentals or for longer rental periods.
Market you business
Once you’ve decided on the games you want to offer, it’s time to start marketing your new business. The best way to do this is to create a website or blog where you can showcase your games and provide information about your rental rates. When you have your site up and running, it’s time to find your prospects:
- Make sure your website is ranking well in your area by optimizing it for local keywords.
- Submit your site to online directories and Yellow Pages listings.
- Get involved in the local gaming community by sponsoring tournaments or joining gamer meetups. You can also connect with people through social media sites like Twitter, Facebook, and Reddit.
- Establish partnerships with similar businesses to exchange referrals like Party rentals, Event rentals, Carnival game rentals, and other rental companies.
- Promote your business through social media channels such as Facebook and Twitter. Be sure to include photos and videos of your games in action to attract leads.
- Corporate events and trade shows can bring in new leads and help promote your business. So, keep an eye on the next event in your local community.
By following these tips, you’ll be well on your way to marketing your new games rental business. Just remember to focus on providing a great selection of games and competitive rates, and you’ll surely attract more people in no time.
Conclusion
With a little bit of effort, you can easily start your own arcade game rentals. Just be sure to research, set up a budget, and market your business effectively, and you’ll be on your way to success. Thanks for reading!