Are you planning on opening a gaming business in the Philippines? The gaming industry is one of the largest in the world. You could earn big money from this business, but just like other businesses, you have to invest your time and money to make it work.
How do you start a gaming business in the Philippines?
Step 1. Determine what type of business you will open. There are lots of business ideas for gamers to choose from, depending on your skills, capabilities, and financial capacity.
Step 2. Once you’ve made your decision, think of a good business name. Register your business with the DTI (Department of Trade and Industry), BIR (Bureau of Internal Review), and your locality to get the necessary permits.
You might also be required to get a gaming license.
Step 3. It’s also a good idea to open a separate bank account for your business, even if it is a sole proprietorship.
Step 4. Study your market. How are you going to reach your clients and make them stay? How can you make them come back and avail of your services or buy more products in the future? If possible, carry out an in-depth marketing analysis.
Step 5. Invest in equipment and hone your skills.
Depending on what type of gaming business you’re planning to open, you might need around Php100,000 for gaming equipment, paid game downloads, and other stuff. You could need much more than that if you have to factor in cameras, good lighting, more computers and equipment, etc.
Note that your ISP (internet service provider) should be reliable. Get the fastest internet speed possible.
Step 6. Open a separate social media account for your gaming business. If possible, you should also build a website. If you’re going to do vlogging or streaming, start applying for monetization.
Step 7. Find a payment system provider to help process your orders.
Step 8. Plan your marketing strategy and get your equipment ready.
Step 9. Open your business.