Technologies like virtual reality were once thought to be useful only for gaming, but they are going to be entering the realm of consumers and small businesses very soon. Here are a few ideas for starting a virtual reality business now. Urban planning is a technical process that involves the development of land as well as revitalizing certain existing parts of a city by using goal settings, forecasting techniques, data collection and analysis, design, strategic thinking as well as public consultation. Private Label VR provides customized VR solutions for business owners. Huge retailers are already introducing a virtual reality payment system where virtual reality shoppers can pay for items. Virtual Reality (VR) and augmented reality (AR) technology will have a massive impact on how companies do business. Many people will like to know what it feels like to be in space, so targeting this set of consumers mean that you will be catering to a particular niche. Even though design has different connotations in different fields, the use of VR offers any  entrepreneur the chance of carving out a niche of the market for themselves and generating profit. Also, there are travel agencies that act as sales agents for foreign travel companies and so using VR can help an entrepreneur running a travel agency to entice customers to buy trips to countries by showing them 3D clips of the countries. How Virtual Reality Affects the Small Business Market. What’s the Reality of Virtual Reality for Small Business, How Virtual Reality Can Grow Your Business, How to Start a Business with no Money Checklist. Pornography is the portrayal of a sexual subject matter in order to elicit sexual arousal. As a mark… Mixed reality headsets rely on several components, such as cameras, to achieve the creation of augmented and virtual reality environments. The feature, currently used by a few brands, is on the cusp of becoming a … This has led to a lot of simulation videos, online concert experiences and virtual home and city tours. The power of what VR can accomplish is making museums to embrace VR and so in order to be able to stand out, you can ensure that you create a unique content and technology for your own VR museum. Solomon O’chucks is a Researcher, Prolific Writer and a UNICEF trained & certified Facilitator and Counselor, A Graduate of Morris Cerullor School of Ministry and He Holds a Degree in Personal Development & Science of Success from IIGL Asheville, NC, USA. However, social experiments have evolved as even lay people are using it to provoke certain responses from others. Augmented reality development opens up various business possibilities for marketing domain, and if used creatively, can generate more loyalty and commitment for the brands and their products. Chris Marentis on February 15, 2016 at 9:56 am Therefore, the virtual reality headset and accompanying hardware are for those that can afford luxurious items. it is important that you choose a course that attractive as well as informative. But aside from that, you may be wondering if there are other practical VR business uses. There’s a huge debate raging in the tech industry about virtual reality  vs augmented reality and which will be viable for small businesses to take advantage of. Also, aside from featuring products in your marketing campaigns, you can feature stories that will make the audience have more empathy towards VR. Even though the sports industry has been slow in adopting VR especially the field segment, VR has started to venture into certain segments of sports example, major league baseballs are offering their fans and the audience live VR streaming services. Indoor navigations can be used with Wi-Fi, beacons, ultra-wideband and is used by those who want to navigate complex buildings such as train stations, airports, hospitals, trade shows, offices and retail industries. If you are looking for a quick way to get involved in any industry, investment is one of the quickest though most risky method of entry. VR is spreading to different sectors and so companies that are looking to venture into it are looking to be advised on the tons of opportunities that exist therein as well as who would teach them about VR. Even though data visualization apps have made people better understand the significance of data, using VR will take it a step higher as people will get a more immersive experience when studying data. Virtual Reality - most successful small business ideas. With Virtual Reality solution, businesses can and are crafting user experience to life simulations in a risk-free and cost-effective way. Virtual officers have started coming into existence so that anyone from any part of the world can pay to use the office from anywhere. Investing in VR equipment is not only guaranteed to bring in more customers but will also ensure that you are able to generate more revenue. Virtual reality startup, VRB, was purchased by Samsung for $5.5 million. This is different from having to develop one’s game from scratch and so you might need to partner with a developer who has made the codes. There are more virtual reality theaters in existence looking to attract the attention of customers all over the world. Augmented reality is a view of a physical, real-world environment whose elements are augmented by computer-generated sensory input such as sound, video, graphics or GPS data. Our commercial VR systems helps businesses not only attract new customers, but with a 50% return rate - VR increases customer retention Explore the limitlessness of Virtual Reality and find out how virtual reality can change the way that you do business. However, with the use of VR, students will be able to see scientific discoveries either from the perspective of the scientist that made the discovery or from the lab itself. Virtual Reality Photo via ShutterstockComment ▼, Your email address will not be published. As a marketer, you’d be wise to consider the best ways to leverage virtual reality for small business.eval(ez_write_tag([[580,400],'smallbiztrends_com-medrectangle-3','ezslot_4',149,'0','0'])); How about attending the opera or a live football game by viewing the event from the absolute best seat in the house? And so benefiting from the ignorance of these companies or individuals by helping them is very lucrative especially if you are offering your services to many companies. Tech expert Val Quinn gives small Business owners tips on using Virtual Reality in their small business. 26. With virtual reality however, mining companies can use that to train employees to work without having to send them underground. I'm excited as a user of the technology but even more excited as an entrepreneur who may be able to profit in this exciting new field. However, due to the fact that there have been concerns about the subjects being abused when social experiments are conducted; the use of VR will ensure that these experiments can still be conducted without having to actually be in contact with real people. If you are looking to run a VR business in the education sector, then there are many opportunities that are available to you. Regulations however slowed down mining operations due to the negative environmental impact that mining activities had on the environment. The real estate business is one that is very exhausting especially for one that is looking to rent or buy because they would have to go round and view so many properties or apartments before deciding on the perfect fit. If you are a gamer and would like to earn money from playing games, you could create a niche for yourself by playing VR games for money. Before we explore the markets soon to be transformed by VR, let us take a brief look at the technology that will power the transformation. Using VR for visualization or modeling will make the work easier for those in this sector with less cost than going for a 3D modeling with printer. The good thing with indoor navigation is that they help the user determine the actual floor level. While there might be a lot of marketing agencies, there are very few that specialize on VR and so this is a great opportunity for you to create a niche and stand out from others. Just ask your kids what the newest and most innovative thing in technology is today and if they are paying attention, it is all about virtual reality. Start a Virtual Reality Arcade, Tips for Adopting Virtual Reality in Your Business. The first in a 4-part small business series, this post looks at five ways small businesses are adopting virtual reality. However, the fact that the hardware is on the high side does not mean that people do not want to experience virtual reality; thereby making virtual reality headset rental a good business to go into. Virtual reality headsets are pretty pricey right now. More retailers have begun to venture into the virtual world in a bid to deal with declining in-store purchases. In fact, virtual reality has been projected to be a $30 billion industry by 2020. Real estate brokers have started using VR in order to sell or rent out real estate to their intended clients. What are the Best Gifts for Hair Salon Opening? Copyright © 2021 Profitable Venture Magazine LLC | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. If you are one who is interested in learning new things and telling it to others, then you can go on different platforms to consume virtual reality content and then blog about your experiences, the different platforms and the apps available to your intended audience. If YES, here are 50 profitable virtual reality business ideas. VR is not limited to gaming and other such uses only known of in the technology sector as it has proven to be quite a useful tool in diagnosing as well as treating certain psychological disorders such as depression, PTSD, phobias, autism and stress-related disorders. Virtual reality is an artificial environment created with computer hardware and software and presented to the user in such a way that it appears and feels like a real environment. Virtual reality is gaining momentum, but what are the applications for small business marketers? However, due to the fact that VR headsets can be pretty expensive, selling cardboard-like headsets like that of Google will ensure that you do not use too much money to start the business. Globally, it has been forecasted that the virtual reality business industry will reach $485 billion by the year 2025, which means that tech entrepreneurs, business entrepreneurs, investors and innovators all have an opportunity to capitalize on the opportunities that the industry provides. 10 Best Virtual Reality Franchise Opportunities for Sale and Their Cost. Even though the UI and UX sector in VR do not have any standards for now, you can still create a niche for yourself in order to stand out. Even though diagnoses have become very fast now, virtual reality has dramatically improved the experience not only making it faster but also more effective as the use of medical haptic gloves can be used to remotely diagnose a patient. Using VR in urban planning will help to put a spin on whatever concept is being designed and also aid to visualize the data as well. Even though building a video game for VR with one’s own code might be daunting, there are several companies that are looking to make it easier for those who want to build their own VR games and also make money from it. With Virtual Reality solution, businesses can and are crafting user experience to life simulations in a risk-free and cost-effective way. An example of this would be a smartphone app where you view a street corner through the camera and additional business information appears on the building. Museums are places where people go to see artifacts and also to have immersive experiences by being transported into another time and place. Nowadays, diagnoses can be done remotely as opposed to earlier processes where a series of steps had to be taken in order to be able to identify the symptoms and from there diagnose the disease before seeking for a solution. The introduction of VR has made some people prefer the virtual world to the real world and so become addicted to the virtual world that they find it difficult to function in the real world. Although the application is different, the idea is the same: using augmented reality to retain existing customers and embrace new ones. Brands have the chance to uniquely interact with consumers and instill a sense of mutual loyalty. You can even include interactive buttons leading to your web pages or making a Facetime call. If you do not have any VR products which you intend to sell, then getting paid to sell the products of others is another lucrative way of generating income for yourself. This approach appeals to consumers who are interested in the backstory and origin of the products they purchase. Tourism Another industry that is set to be revolutionised by the Virtual Reality technology is tourism. Virtual reality is a completely immersive experience where the user feels like they are transported to another world. Once you have created a unique architectural style and have built it up in a virtual world, you can then sell the designs to content creators in the virtual reality industry. 50 Lucrative Small Business ideas for IT Professionals, 50 Best IT Business ideas & Opportunities for 2021, 50 Best Drone Business ideas & Opportunities for 2021, escape room is one that allows players to get involved. The most obvious industry that could successfully use VR is entertainment. Speaking of events, as a marketer wouldn’t it be impressive to present your audience with a VR experience sponsored by your brand? Globally, it has been forecasted that the virtual reality business industry will reach $485 billion by the year 2025, which means that tech entrepreneurs, business entrepreneurs, investors and innovators all have an opportunity to capitalize on the opportunities that the industry provides. Even though this type of entrepreneurship is only evolving, a newcomer can start this business with minimal expenses, which promises a … The simplest example of VR is a three dimensional (3D) movie. Here are 12 big time ideas that may become reality (virtual reality anyway) in the not so distant future. Virtual reality is gaining momentum, but what are the applications for small business marketers? A group of successful entrepreneurs make predictions about the future of VR in business and we think these might be the smart VR opportunities that businesses are looking for. A direct mailer, website or TV commercial gets your name and business in front of the masses but what if you could actually provide the consumer with a tangible way to actually experience what you have to offer. If you do not have the money to splurge on huge branded names, you can simply get the Google cardboard glasses which are not only cheaper, but will allow your customers enjoy a bit of functionality with their mobile phones and your app without having to pay so much. You can go further by selling virtual tickets to shows at clubs and even studio sessions. Mining has been a human activity since ancient times and was slow to adapt to changing technology due to the fact that companies were on the lookout for making profit rather than caring about those that worked for them. Augmented reality business card. Augmented reality has been integrated into our lives for as long as smartphones have been around. Most of the VR hardware that are being sold are very expensive and are regarded as luxury items and so owners of VR glasses and the PC might want to repair them when things go wrong instead of having to purchase a new one. Tourism Another industry that is set to be revolutionised by the Virtual Reality technology is tourism. When running a VR based marketing agency, you have the opportunity to create campaigns that will let your audience realize how they can incorporate VR into everything. It will also allow you to break into other sectors thereby making you a VR expert. Due to how expensive most branded VR headsets are, cardboard headsets are becoming very common for those that are just venturing into VR. Therefore any entrepreneur looking to go into this sort of business must carefully conduct a research on the kind of psychological disorders that are likely to be treated so as not to waste resources and time for something that will not generate enough revenue. Sure, you could conduct surveys and questionnaires to determine your audiences’ preferences, but how about designing a storefront and picking the brain of your target market before you even begin the building process? Wednesday, April 10 2019 . Virtual reality is just now starting to emerge as a viable business tool to connect with consumers in entirely new ways. Everything from décor to ambience could be specifically honed in on based on reviews of the virtual reality experience you’ve presented to your test subjects. Virtual Reality and Your Small Business 5 years ago nolavirtual Blog. Digital dressing room: Augmented Reality tool for small and mid-sized businesses. Also, from the production perspective, not only do they offer an experience that is immersive, but one that does not cost much to produce. The prices for virtual reality headsets are a bit on the high side; also, the computer to be used to operate it has to be powerful. Yes, there are a few ways you can start a new business in virtual reality with very little investment. All you have to do is to create a movie theater where people can use VR headsets to enjoy videos that are of 360 degrees. To be able to test drive a vehicle without the hassle and time wasted in a dealership may be all that’s needed to finalize a sale. The best business VR headset 2020: top virtual reality for enterprise use. You can offer various services such as playing VR games, conducting training exercises, 3D book readings, watching 3D movies and so on. However, even though this business idea is one that throws up a lot of confusing questions, it is still an opportunity that any innovative entrepreneur can key into. Virtual reality is an umbrella term for experiences in which reality is simulated, either fully or to a degree. Look around your town or local area for any band that is struggling to feel their venues and use VR to help them out. Virtual reality makes this a possibility and the best part is, anyone, anywhere in the world can experience this view. Virtual Reality(VR) has transformed our life as AR Apps and its benefits have transferred into the wider business sphere. Mixed reality is being used in small business … Virtual reality also adds a realistic component to corporate training exercises and employee education programs. Rent out virtual reality headsets. Becoming a VR researcher will enable you to gather the data that companies will need to understand how to move forward in the digital environment, what should be focused on, industry insights and consumer trends. You can now run an arcade center that will offer your consumers better entertainment than they thought possible. The AR solution experience is something that the user could never have imagined. Design can be referred to as creating a plan that is to be used for the construction of a system or object. Ensure that you have carried out thorough research so you do not end up wasting time and money. Here's how it could work in the business world. Success does not come by accident, but by careful planning. With virtual reality, small businesses around the world can take the opportunity in creating apps that will support this real-time communication while gamers collaborate to play the games in virtual reality mode. For years now YouTube has been a very important platform for those looking to ply their trade and craft to a large audience. Indoor navigation has to deal with navigations within buildings with the use of positioning technologies when one desires automatic positioning. Applying augmented and virtual reality on a smaller scale. And origin of the rooms used for the construction of a sexual subject matter in order make! Counted as an added bonus if you are a few ideas for 2019 games that make players their. 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