How To Start A Esports Business?

So you want to start a Esports business? Well you’ve come to the right place. This blog post will show you how to start a Esports business the right way.

Introduction

In today’s rapidly developing world, the sports industry is one of the most promising and perspective sectors. According to Statista, the global sports market was worth around 673 billion U.S. dollars in 2019 and is expected to grow to 814 billion by 2023.

With the ever-growing popularity of video games and the rise of technological advancements, a new type of sport has emerged – esports. Esports is a form of competitive video gaming that is spectated by millions of people all around the world. The global esports market was valued at 906 million U.S. dollars in 2018 and is expected to grow up to 1.65 billion by 2023.

The gaming industry shows no signs of stopping its rapid growth anytime soon and with that said, starting an esports business could be a very lucrative opportunity for entrepreneurs who are looking to tap into this rapidly growing industry. In this article, we will provide you with a step-by-step guide on how to start an esports business.

The global esports market

Along with the tremendous growth of esports popularity came a rise in investment and thus the development of the esports industry. The global esports market was valued at US$325 million in 2016 and is expected to grow to US$493 million by 2020, according to researchers Newzoo. This excludes hardware sales, which would bring the total figure to US$696 million. And it’s not just investment firms jumping on board the esports bandwagon – brands are too. Global brands including Coca-Cola, T-Mobile, Audi, and Jack in the Box have all associated themselves with esports in some way.

How to start an esports business

The esports industry is booming, and it shows no signs of slowing down. With more and more people tuning in to watch professional gamers compete, there’s a big opportunity for businesses to get involved in the esports space.

But what does it take to start an esports business? In this article, we’ll explore the answer to that question and give you some tips on how to get started.

Here are some things to keep in mind when starting an esports business:

1. Find Your Niche

The first step is to find your niche within the esports industry. There are a variety of businesses you can start, so it’s important to choose one that aligns with your interests and skillset. Do you want to be a tournament organizer? A live streamer? Or maybe you have a great idea for an esports betting website.

2. Understand The Industry Landscape
Once you’ve decided on your niche, it’s important to spend some time understanding the industry landscape. This means getting familiar with the different games, eSports organizations, players, and personalities involved in the scene. It will also involve keeping up with current events and trends so you can identify opportunities for your business.

3. Create A Business Plan

After you’ve done your research and have a better understanding of the eSports industry, it’s time to start putting together a business plan. This document should outline your business goals and strategies for how you plan on achieving them. Your business plan will be essential when it comes time to seek funding or partnerships down the road.

4. Get The Right Team Together

no successful business can operate without a great team behind it. When starting an eSports business, it’s important to surround yourself with people who share your vision and who have the skills and experience necessary to help you achieve your goals. This might mean hiring employees, partnering with other companies, or working with freelancers or contractors.

5 Get Funding

One of the biggest challenges facing any startup is getting funding. If you don’t have enough personal capital to fund your eSports business yourself, you’ll need to look into other options like venture capital, crowdfunding, or partnerships/sponsorships

The most popular esports games

These are the most popular esports games that people are playing and watching right now.

1. League of Legends: League of Legends is a five-versus-five game where two teams try to take down each other’s base. It’s one of the most popular games in the world, and its pro scene is booming with multiple tournaments happening throughout the year with a massive global following.

2. Counter-Strike: Global Offensive: Counter-Strike is a first-person shooter game where two teams go up against each other in competitive play. It’s been around for over 15 years and has one of the biggest followings in esports with multiple tournaments happening each year.

3. Dota 2: Dota 2 is another five-versus-five game where two teams try to take down each other’s base by controlling characters with unique abilities. It’s one of the hardest games to get into, but once you do, it’s incredibly rewarding and has some of the biggest prize pools in all of esports.

4. Overwatch: Overwatch is a colorful team-based shooter where two teams of six face off against each other in fast-paced matches. It’s one of the newest games on this list, but it’s quickly become one of the most popular thanks to its accessible gameplay and vibrant community.

5. Call of Duty: WWII: Call of Duty is one of the biggest first-person shooter franchises in gaming, and WWII was its most recent entry. The game pits two teams against each other in intense military battles, and its competitive scene has been growing steadily over the past few years.

The benefits of starting an esports business

There are many benefits to starting an esports business. For one, it can be a great way to get involved in the gaming industry and connect with other gamers. In addition, it can be a very profitable business venture.

Some of the other benefits of starting an esports business include:

-The ability to reach a global audience: Gamers are everywhere, and they are always looking for new content. By starting an esports business, you will be able to reach a huge audience of gamers all over the world.

-The potential to make a lot of money: Esports is a billion-dollar industry, and there is a lot of money to be made in this business. If you can tap into this market, you could make a lot of money from your esports business.

-The chance to create something new: If you are creative and have some good ideas, you could create something truly unique in the esports industry. This could help you stand out from the competition and attract more customers.

The challenges of starting an esports business

There are many challenges associated with starting an esports business. One of the biggest challenges is the amount of investment required to get started. Esports is a very capital intensive industry with high hardware and software costs, as well as player salaries. Another challenge is the lack of regulation and standardization in the industry. This can make it difficult to obtain funding and partnerships, as well as create operational difficulties. Finally, the industry is still in its infancy and rapidly changing, which can make it difficult to plan for the future.

Conclusion

Now that you know how to start a eSports business, it’s time to get started! Remember to do your research, build a strong team of experts, and always be prepared to adapt as the industry changes. With these tips, you’ll be on your way to success in no time.