How to Start an Esports Company & Make it a Success

Esports are not just games, they are a global phenomenon that has grown over time. In fact, the current market size of the esports industry in India is 250 crores which is expected to grow at a CAGR of 46% in the next four years.

 

So, if you are looking for how to start an Esports Company, follow the steps below.

 

7 Steps to Start an Esports Company

 

1. Choose a Game Category
2. Find a Niche to Launch your Esports Company
3. Build a Sustainable Business Model with Realistic Expectations
4. Register your Business
5. Decide on Branding Strategy
6. Hire Staff
7. Consider how you will Monetize your Business

 

Step 1 - Choose a Game Category

 

There are many different categories to choose from when starting an esports company. 

 

For example,

• Fighting 
• Racing 
• Sports
• Digital Cards
• Real-time Strategy
• Shooting Games
• Multiplayer Online Battle Arena (League of Legends, PUBG, Dota 2)

 

It can be a hard decision because there are many different aspects to consider. But, it is important to be familiar with the industry before choosing a category.

 

The things that need to be considered when choosing a category for an esports company are:

 

• Experience of the founders and their understanding of how esports works. 
• How much money will be needed to start up and maintain the business?
• What kind of resources will need to be allocated for each category?

 

This decision will have a major impact on the success of the company in the future. So it is important to think about it carefully and make the right choice.

 

Step 2 - Find a Niche to Launch your Esports Company

 

To find a niche for an esports company, you need to look at the market and think about what is lacking. 

 

What are the needs? What is going to be popular in the future?

 

You should not focus on what people want now but on what they will want in the future. 

 

For example, many companies started as gaming companies, but have switched to esports because of its growth.

 

Thus, you must offer something new or different from other companies in your category.

 

Here are some tips to find a niche for starting an esports company:

 

• Discover the most popular games and trends.
• Find out what the most popular game publishers are and what they publish.
• Find out which games are the most popular in different regions of the world (e.g., North America, South America, Europe, and Asia).
• Look at your interests and skill set and see if there is a way to make a game that suits your interests or skill set.

 

For selecting a niche, you need to understand the demographics and psychographics of the people who play the games of your category. 

 

It includes things like their age, gender, and income level.

 

Step 3 - Build a Sustainable Business Model

 

The esports industry has grown to a point where the global audience for esports is larger than the NFL, NBA, and MLB combined.

 

However, there are some challenges that you will have to overcome if you want your business model to be sustainable in the long term.

 

Thus, take the following factors into account while making a business model:

 

• What is your company's mission statement?
• Who are your competitors?
• How can you differentiate yourself from other companies in the same market?
• What are the goals of your company?
• What is the projected growth of esports in the next five years?

 

Here are some ways to build a sustainable business model for starting an esports company:

 

1. By following the traditional path of starting with sponsorships and then moving on to partnerships with other companies in the industry. 
2. By developing games or acquiring existing games and then monetizing them with in-game purchases, in-app purchases, or advertising revenue. 
3. By hosting tournaments and charging entry fees.
4. Creating merchandise such as branded clothing or collectable figurines of popular characters from their games.

 

Step 4 - Register your Business

 

The next step is legally safeguarding your business idea by registering it with the government.

 

The registration process is simple and can be easily done online.

 

For this purpose, we at StartEazy are here for you with a team of experts.

 

We will help you to apply for company registration online and comply with all the legal requirements for starting an esports company.

 

Documents Required for Registration

 

• Rent Agreement/NOC of the Business Premises
• Utility Bill
• Passport-size Photo of Directors (Digital Copy)
• Aadhaar Card 
• PAN Card 
• Signatures of Directors

 

Registering your esports company will not only provide you with legal protection but also help you avoid any legal issues that might come up when you are running your company.

 

Step 5 - Decide on Branding Strategy

 

The branding strategy is an important part to start an Esports Company and it will help you to make decisions on how to present your esports company.

 

Accordingly, it needs to be done in a way that is not only culturally appropriate but also meets the demands of the Indian market.

 

The three most important factors to determine are: - the name, logo and colors of the company.

 

• The name of the company must be catchy, memorable and easy to pronounce in English as well as other languages.
• The logo must not be too complicated or detailed. It should be simple enough so that it can be printed on any size or shape of merchandise and still retain its original look.
• The colors chosen for the logo should also have a universal appeal so that they can represent the brand regardless of where it is being viewed from.

 

Step 6 - Hire Staff

 

You skilled professionals who are well-versed in the various aspects of the gaming industry to start an Esports Company.

 

These professionals include game developers, game designers, coaches and managers, social media managers and content creators.

 

Here are some tips on how you can find the best people for your company:

 

• Ask around and ask friends, family, and colleagues who they know that would be a good fit for your company.
• Look at online job boards or post ads on social media sites like Facebook, Instagram, or Twitter. - Post ads on niche websites or forums related to what you do in your company.
• Use services like LinkedIn, Indeed, Monster, and CareerBuilder to search for talent.

 

Step 7 - Consider how you will Monetize your Business

 

There are many ways to monetize an Esports business.

 

One way is through sponsorship deals with companies that want to reach a younger audience. 

 

Another way is through merchandise and apparel sales by selling things like jerseys and hats with the team logo on them. 

 

You can also earn through ticket sales for live events and online streaming services where viewers can pay for subscriptions or pay for individual matches.