How to Start a Board Game Company Business

How to start a board game company business plan template

Are you interested in starting your own Board Game Company Business?

Introduction
Starting a board game company can be a fun and rewarding experience. However, there are a few things you need to know before getting started. In this blog post, we will cover the following topics:
1. Why start a board game company?
2. What are the key components of a board game company?
3. How to get started with your board game company. We hope that this post will give you the information you need to get started with your own board game company. So, let's get started!
Business Plan
If you're looking to start a board game company, the first step is to create a business plan. This will lay out your company's goals, strategies, and how you plan on making money. There are a few key components to any good business plan:
1. Executive Summary
2. Company Description
3. Products and Services
4. Market Analysis
5. Sales and Marketing Strategy
6. Financial Plan
7. Appendix
Target Market
When it comes to starting a board game company, it's important to first identify your target market. Who will you be selling your games to? How will you reach them? What are their needs and wants? Once you've answered these questions, you can begin to create a marketing strategy that will reach your target market and help you achieve your business goals.
Business Model
There are a few key things you need to do to start a board game company business.
First, you need to create a great game. This may seem obvious, but it's important to remember that your game needs to be fun and engaging.
Secondly, you need to find a way to get your game into the hands of potential customers. There are a few ways to do this, but one of the most effective is through social media and online marketing.
Finally, you need to make sure you have a good business model in place. This means having a plan for how you will generate revenue and make a profit. If you can do all of these things, then you will be well on your way to starting a successful board game company business..
Competitive Landscape
The board game industry is a competitive one, with many well-established companies. To start a board game company, you'll need to be able to stand out from the competition. One way to do this is to focus on a niche market. There are many niche markets within the board game industry, such as family games, strategy games, party games, etc. Find a niche that you're passionate about and that you think you can excel in. Another way to stand out from the competition is to offer something unique that no other company is offering. This could be a new twist on an existing game mechanic, or an entirely new type of game. Whatever it is, make sure it's something that will appeal to your target market. Finally, make sure you have a solid business plan in place. Board game companies require significant investment, so you'll need to have a plan for how you're going to generate revenue and make a profit. Do your research and put together a detailed plan before you start your company.
Costs & Pricing Strategy
There are a few things to consider when it comes to the costs of starting a board game company business. The first is the cost of manufacturing the games themselves. This can vary depending on the size and complexity of the game, but it is important to factor in this cost when pricing your games. The second is the cost of marketing and promotion. This includes everything from advertising to attending trade shows. Again, the cost will vary depending on the size and scope of your marketing efforts, but it is important to factor this in when pricing your games. Finally, you need to consider the cost of shipping and handling. This includes the cost of packaging and shipping materials, as well as the cost of shipping the games to your customers. Shipping and handling costs can add up quickly, so it is important to factor this in when pricing your games.
Forming a Legal Entity
If you want to start a Board Game Company business, you will need to form a legal entity. This will protect you from personal liability and help you raise money for your business. You can choose to form a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of entity has its own pros and cons, so you will need to choose the one that is right for your business. If you are the only owner of your business, a sole proprietorship may be the best option. This type of business is easy to set up and you will not have to deal with much paperwork. However, sole proprietorships offer no personal liability protection, which means that you could be held responsible for debts incurred by your business. Partnerships are similar to sole proprietorships in that they are easy to set up and offer no personal liability protection. If you decide to form a partnership, you will need to choose a business partner who you can trust and who has complementary skills. It is important to have a written partnership agreement that outlines each partner's roles and responsibilities. A limited liability company (LLC) offers personal liability protection and is a good option for a small group of founders.
Opening a Business Bank Account
When you’re ready to start your Board Game Company business, one of the first steps is to open a business bank account. This will help you keep your personal and business finances separate and will make it easier to track your expenses and income. To open a business bank account, you’ll need to have the following information and documents: -Your business name and address
-Your Social Security number or Employer Identification Number (EIN)
-A list of the owners, officers, and directors of the company
-Articles of incorporation or a business license
-A voided check or deposit slip from the account you’ll be using for your business
Once you have all of the required information and documents, you can visit your local bank or credit union to open a business checking account.
Setting up Business Accounting
If you're starting a Board Game Company business, one of the first things you need to do is set up your business accounting. This will ensure that you're keeping track of your finances and that you're complying with any financial regulations that apply to your business. Here's a quick guide to setting up your business accounting:
1. Choose an accounting software. There are many different accounting software packages available, so do some research to find one that will suit your needs.
2. Set up your chart of accounts. This is a list of all the categories of income and expenditure that you will track in your accounting system.
3. Set up your bank account. You will need a business bank account to manage your finances effectively.
4. Keep track of your income and expenditure. Make sure you keep accurate records of all money coming in and going out of your business.
5. Prepare and file your tax return. Once a year, you will need to file a tax return for your business. Make sure you keep on top of this so that you don't miss the deadline
Setting up Business Insurance
As a business owner, it is important to protect your company with the proper insurance. When setting up a Board Game Company business, you will need to consider the following types of insurance:
-Product liability insurance: This will protect you in the event that a product you designed and printed causes injury or damage.
-Professional liability insurance: This will protect you in the event that a client suffers damages as a result of your work.
-Business property insurance: This will protect your equipment and premises in the event of damage or theft.
-Business interruption insurance: This will protect you in the event that your business has to stop operations due to a covered event.
-Employee dishonesty insurance: This will protect you in the event that an employee steals from your business.
Speak with an insurance agent to determine which policies are right for your business
Setting up a Business Website
If you want to start a Board Game Company business, one of the first things you need to do is set up a website. This will be your online home base, where potential customers can learn more about your business and what you have to offer. There are a few key things you need to include on your website:
-An About page: This is where you can tell your story and give potential customers a sense of who you are and what you stand for.
-A portfolio: Showcase your best version on your website so that potential clients can see your work.
-A contact page: Make it easy for people to get in touch with you by including your email address and/or social media links.
-Pricing information: Let visitors know how much you charge for your services.
By having a well-designed website, you’ll be able to attract more customers and grow your Board Game Company business
Obtaining the Necessary Permits
You will need to secure several permits before you can open your board game company. The first permit you will need is a business license. You can obtain a business license by contacting your local Chamber of Commerce. The Chamber of Commerce will be able to provide you with the necessary paperwork and fees. The next permit you will need is a seller's permit. A seller's permit allows you to sell your board games to the public. You can obtain a seller's permit by contacting your state's Department of Revenue. The Department of Revenue will be able to provide you with the necessary paperwork and fees. The last permit you will need is a manufacturing license. A manufacturing license allows you to manufacture your board games. You can obtain a manufacturing license by contacting your state's Department of Environmental Protection. The Department of Environmental Protection will be able to provide you with the necessary paperwork and fees.
Setting up a Business Number or Appointment Setter
When you’re ready to start your Board Game Company business, one of the first things you need to do is set up a business phone number or an appointment setter. You can use a service like Google Voice to set up a business phone number for your Board Game Company business. Google Voice will give you a free business phone number that you can use to make and receive calls. Once you have a business phone number, you can start taking calls from potential customers. When you get a call, be sure to take down the customer’s name, contact information, and what they need. Once you have this information, you can give the customer a call back to discuss the project in more detail and give them a quote.
Conclusion
In conclusion, starting a board game company is a great way to tap into the growing market for board games. There are a few key things to keep in mind when starting your business: make sure you have a great product, build a strong team, and market your games effectively. With these tips in mind, you'll be well on your way to success in the board game industry!

Why write a business plan?

A business plan is a critical tool for businesses and startups for a number of reasons:
  • Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
  • Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
  • Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
  • Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
  • Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
  • Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
  • Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
  • Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
  • Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
  • Business plans allow you to position your brand by understanding your company’s role in the marketplace.
  • Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
  • Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.

Business Plan Content

 

Many people struggle with drafting a business plan and it is necessary to ensure all important sections are present in a business plan:
  1. Executive Summary
  2. Company Overview
  3. Industry Analysis
  4. Consumer Analysis
  5. Competitor Analysis & Advantages
  6. Marketing Strategies & Plan
  7. Plan of Action
  8. Management Team

The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.

The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.

Instructions for the Business Plan Template

To complete your perfect Board Game Company business plan, fill out the form below and download our Board Game Company business plan template. The template is a word document that can be edited to include information about your Board Game Company business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.

Ongoing Business Planning

 

With the growth of your business, your initial goals and plan is bound to change. To ensure the continued growth and success of your business, it is necessary to periodically update your business plan. Your business plan will convert to a business growth plan with versions that are updated every quarter/year. Avvale Consulting recommends that you update your business plan every few months and practice this as a process. Your business is also more likely to grow if you access your performance regularly against your business plans and reassess targets for business growth plans.

 

Want a Bespoke Business Plan for your Board Game Company Business?

Our Expertise

 

Avvale Consulting has extensive experience working with companies in many sectors including the Board Game Company industry. You can avail a free 30-minute business consultation to ask any questions you have about starting your Board Game Company business. We would also be happy to create a bespoke Board Game Company business plan for your Board Game Company business including a 5-year financial forecast to ensure the success of your Board Game Company business and raise capital from investors to start your Board Game Company business. This will include high-value consulting hours with our consultants and multiple value-added products such as investor lists and Angel Investor introductions.

 

About Us

 

Avvale Consulting is a leading startup business consulting firm based in London, United Kingdom. Our consultants have years of experience working with startups and have worked with over 300 startups from all around the world. Our team has thousands of business plans, pitch decks and other investment documents for startups leading to over $100 Million raised from various sources. Our business plan templates are the combination of years of startup fundraising and operational experience and can be easily completed by a business owner regardless of their business stage or expertise. So, whether you are a budding entrepreneur or a veteran businessman, download our business plan template and get started on your business growth journey today.