The aim of this paper is to present a business plan for "Ken and Keith Video Games Centre". The business will introduce Ad finger VR, a VR console product that makes ALS patient and elderly who can't move their body can enjoy playing games by just move the fingers and wrists when playing game. The new equipment that the new business will introduce also consist of two major things, namely VR glasses and something that must be worn to connect the players' fingers and wrists, such as the VR gloves. This business is likely to succeed in the new market because the product that it intends to offer is of high quality and promotes clients' safety. Because of the extensive growth in VR content market brought about by the progress and extensive circulation of computer hardware technology as well as virtual reality (VR) head-mounted display (HMD) devices. To full establish its operations, the owners of this new business will use the profits they acquired from the past businesses and even acquire bank loans. The international virtual reality content creation market is expected to increase to $227.9 billion in 2030, portraying a 2020-2030 CAGR of 70.5%. This means that the new business will be successful as it will benefit from the profits.
Table of Contents
Executive Summary
Introduction
Company Background
Business Idea
Business Model
Unique Selling Proposition
Feasibility Analysis
1. Product/service feasibility
2. Industry
3. Financial
Market Analysis
Financial
Conclusions
Research Objectives and Core Themes
The primary objective of this business plan is to outline the establishment of "Ken and Keith Video Games Centre" in Orchard Road, Singapore, which introduces the innovative "Ad finger VR" console designed to provide an accessible gaming experience for elderly individuals and patients with Amyotrophic Lateral Sclerosis (ALS).
- The integration of inclusive VR technology to remove physical barriers in gaming.
- Market viability and consumer demand analysis within the Singaporean gaming landscape.
- Strategic business modeling using the Barringer/Ireland Framework.
- Financial planning, including capital requirements and funding strategies through past business profits and bank loans.
Excerpt from the Book
Introduction
Currently, there is an extensive growth in VR content market as a result of the progress and extensive circulation of computer hardware technology as well as virtual reality (VR) head-mounted display (HMD) devices. The business plan involves creation of a new business enterprise in Orchard Road, Singapore based on Ad finger VR product; this is considered as a VR console product that allows ALS patient together with elderly individuals who are unable to move their body to enjoy playing games by just moving their fingers and wrists when they play the game. Notably, this new product contains two significant gears such as the VR glasses as well as other gears that players can wear on their bodies to connect their fingers and wrists such as the VR glove. Among the goals of the business based on its new product mentioned above include, to design new console design, innovative control button as well as provide new gaming experience for persons, particularly, for Amyotrophic lateral sclerosis (ALS) patients. This is a good venture because a good number of people in Orchard Road, Singapore have never had the chance to try VR products hence this venture will give them the best opportunity to play hence giving them a new gaming experience.
Summary of Chapters
Executive Summary: Provides an overview of the business venture, the Ad finger VR product, and the market potential driven by growth in VR technology.
Introduction: Sets the stage by explaining the motivation behind the new gaming enterprise and the specific target demographic of ALS patients and the elderly.
Company Background: Details the previous experience of the founders, Ken and Keith Max, in the video game industry since 1995.
Business Idea: Elaborates on the design of the new console and the goal of providing an inclusive world of technology for those who have never played games before.
Business Model: Applies the Barringer/Ireland model to categorize the business structure into core strategies, resources, financials, and operations.
Unique Selling Proposition: Highlights the competitive advantage of the wireless Ad finger VR system and its focus on an underserved market niche.
Feasibility Analysis: Examines the safety, industry trends, and financial requirements necessary to ensure the business is viable.
Market Analysis: Analyzes the demographics in Orchard Road, Singapore, and the global upward trajectory of the VR content market.
Financial: Estimates profit margins and details the reliance on personal savings and bank financing for the initial $7 million launch.
Conclusions: Summarizes the business's readiness to execute the plan based on founder experience and market demand.
Keywords
Virtual Reality, VR, Ad finger VR, ALS, Gaming Industry, Singapore, Business Plan, Entrepreneurship, Inclusive Technology, Console Design, Market Analysis, Feasibility Study, Startup, Innovation, Healthcare
Frequently Asked Questions
What is the core focus of this business proposal?
The proposal focuses on launching a specialized video game center in Singapore that utilizes the "Ad finger VR" system to make gaming accessible to people with physical limitations, specifically those with ALS and the elderly.
What are the primary thematic areas covered?
The document covers business modeling, feasibility analysis, market demand, financial structuring, and technical innovation within the VR gaming sector.
What is the central research or business goal?
The primary goal is to successfully establish a new business enterprise that leverages current VR advancements to provide a safe, high-quality, and inclusive gaming experience.
Which methodology is utilized for the business model?
The plan utilizes the Barringer/Ireland Business Model framework to organize core strategies, key assets, resources, and operational details.
What specific aspects are addressed in the main chapters?
The main chapters detail the company's historical background, the unique technological features of the Ad finger VR, comprehensive market research on the Singaporean population, and a financial breakdown of the project.
What characterizes the keywords identified?
The keywords highlight the intersection of advanced virtual reality technology, healthcare accessibility, and fundamental business development principles.
How is the "Ad finger VR" technology unique?
It is unique because it requires only finger and wrist movement and is built on a wireless platform, allowing it to be used without being tethered to a fixed PC, making it portable and safe for users with mobility issues.
What is the financial strategy of the organization?
The organization plans to fund the $7 million startup cost using $4 million from previous business profits and securing the remainder via long-term bank loans, with a projected profit of $600,000 in the first year.
- Citar trabajo
- Nicholas Odwar (Autor), 2024, Business Plan for "Ken and Keith Video Games Centre". Launching Ad Finger VR for ALS Patients and the Elderly, Múnich, GRIN Verlag, https://www.grin.com/document/1491830
