The virtual reality business is still trying to grow into its enormous potential.
Five years ago, for example, Facebook and Oculus debuted the first DK1 VR dev kits. The $600 DK1 provided only optional outside-in position tracking, and the hardware kept users tethered to computers while limiting their range of motion.
The constraints of the technology, however, have not limited virtual reality’s upward trajectory. The intrigue surrounding virtual reality enables platforms like Oculus to release newer, more affordable models with more customer-friendly features: untethered mobile options, inside-out tracking, and more content than before.
While the market continues to search for an app or game that will help home-based virtual reality become a sought-out commodity, location-based virtual reality has gained traction as an option that is both social and affordable. As location-based virtual reality continues to provide good virtual reality experiences, it presents an opportunity for potential franchisees in search of business ventures with untapped growth possibilities.
How to Spark Growth in the Virtual Reality Industry
Location-based virtual reality affords intrepid entrepreneurs the chance to provide a unique and distinguishable entertainment option — but it’s not possible to build a virtual reality franchise without first understanding how to capitalize on the industry’s growth. Here are two ways to maximize VR’s potential to your ultimate benefit:
1. Experiment with the latest ideas. A virtual reality arcade franchise owner needs to live steadily ahead of the curve. You’ll have to monitor the latest tactics and implement them whenever you can — even if no one has invented them yet.
For example, many companies experiment with haptics and motion capture to give participants a more meaningful sense of immersion in the game world. Varifocal displays (i.e., the ability to have depth perception within a virtual world) and interfacing reality also have become more critical to VR companies. As more companies experiment with new offerings, those technologies should become more affordable.
To truly benefit, however, you must integrate the latest software and hardware into one system. When you do that, you’ll be able to create one of the best consumer virtual reality experiences — and customers will flock to your franchise.
2. Capitalize on social. Now that companies are giving consumers a virtual body — not just a floating head — users are able to feel connected to virtual worlds. Not only do they have a new “physical” presence within the game, but they also can see their friends in that same world.
Virtual reality franchises that thrive in the future will use virtual reality’s growing emphasis on socialization to their advantage.
Within a location-based virtual reality environment, users are able to share the same experience. Instead of the home-based virtual reality systems most people recognize, location-based VR replaces the solitary journey into a virtual world with a team experience. The more you’re able to expand upon that shared experience, the more people will bring their friends and build word-of- mouth awareness for your facility.
For a long time, it was hard to determine how nontechnical business leaders could break into the VR industry. But the ongoing evolution of the virtual reality business is creating more opportunities for growth. A commitment to innovation and socialization will not only help build the foundation for your virtual reality franchise, but it will also help you successfully maintain it.
Ready to start your own franchise? Learn how to own the future of entertainment here.