Location-Based VR is growing rapidly as consumers are going outside of the home for more immersive VR experiences. If you are considering adding a VR experience for your patrons, be sure to read below to get an understanding of what to review and think about. We have included some of the most common questions.
WILL VR HELP MY BUSINESS GROW & IMPROVE MY CUSTOMER EXPERIENCE?
This is where we like to start when speaking with anyone interested in a VR setup. Virtual Reality is a fun, exciting, and immersive experience for people of all ages. It can help bring in new customers and, more importantly, keep your existing customers coming back (especially if you have a multitude of game options available). It will help drive traffic and your return rate, especially if you have other attractions within your space. Traditional VR Arcades can work – (trust us, we created the first VR Arcade within the US and know what it takes) but having other attractions and revenue streams within the location are typically the best practice. Virtual Reality adds to the customer experience and creates a social gathering. Our most successful clients expand and amplify their customers’ experiences with options like food, drinks, and other game-play opportunities.
HOW DO I SETUP A VIRTUAL REALITY ATTRACTION?
This is intimidating for many to think about, but it doesn’t have to be. Choose the right partner to install a turnkey solution. The hardware is simple and the better product you purchase, the better the experience. The software is the most complex and key aspect of your VR setup. Ensure that you have software that functions well, streams the VR content quickly and seamlessly, and that your gaming options keep your patrons coming back. Private Label VR not only offers the best hardware on the market, but we also have developed our own in-house software and offer a gaming library containing over 200 titles to choose from.
WHAT ARE THE COSTS?
It depends on your preferred build. We offer everything from a small, 2 booth setup all the way to a 24-booth setup. Our competitors have a 4-booth cross system that prices out to over $100k with additional fees exceeding $10k per year. Our costs are roughly 60% of our competitors. We can afford this as we have built our own custom software and gaming library and pass that on to our partners. Be sure when researching any Location-Based Virtual Reality company that you understand the full fee structure on the install and the service, support, and game licensing fees so you can truly get the most value.
WHAT TYPE OF EXPERIENCE SHOULD I PROVIDE?
This depends on your market. At Private Label VR, we like to start with your vision and your customer base in order to provide the best solution from both an experience and financial standpoint. The key factors are your demographics (age, gender), what other attractions you have within your space, and if you want something more theatrical or ROI driven.
HOW DO I ENSURE SUCCESS FOR MY VR INVESTMENT?
Do the homework up front on your options and the following considerations:
- SPACE: A VR attraction takes up roughly 100 square feet per booth. Four-booth options are typically the most popular given the multiplayer element, which requires 400 square feet.
- MARKETING & PRESENTATION: Ensure that you have ways to re-market to people that play your VR system and build an attraction that has a theatrical appeal. People going outside of the home for VR want something that is jaw-dropping - spend the time ensuring you have a design that appeals and is attractive.
- GAMES: Both quality and quantity. Having the latest, most exciting game is vital . . . .until the next most exciting game is released. Many people spend the time and money to build a large VR attraction and then are stuck waiting for game developers to provide more content.
- PRICING: Your customers’ perceived value must exceed the price of the experience. In general, charging $1/minute to patrons has been the “sweet spot” we have found to keep the customers happy and to financially benefit our partners. Build promotional offers that tie in with your other offerings. Creating a loyalty/membership program will help drive your return rate as well.
Good luck in your endeavors! If you have any questions, don't hesitate to reach out to us at firstname.lastname@example.org. We offer industry leading expertise, the most extensive software, over 200 games (with more coming weekly), and the best value in the market.