Reality OverrideSales PitchReality Override provides an arcade-like recreational venue for the students of Davis to relax, socialize, and have fun. We provide a location in which people are able to experience the modern technologies of virtual and augmented reality. We work to offer endless possibilities through modern technologies to create a healthy and happy community.
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Executive Summary
Description of Business
We want to create an experience that the students of Davis can enjoy that is adapted to the coming future of technology through virtual and augmented reality. Students of Davis need a unique, recreational experience that is adapted to the coming future of technology through virtual and augmented reality.
We provide an experience that allows customers to enjoy themselves through various uses of virtual and augmented reality. We will provide sessions for virtual reality escape rooms, rental virtual reality sets, games, and movies, and snacks and drinks from vending machines, all within a setting in which customers can socialize and interact with virtual reality.
Reality Override will be run from a physical location in downtown Davis that will be used to provide the experience for customers, run the operation, and store necessary supplies. Specifically, we will be located at 610 3rd St. Davis, CA 95616 in the heart of downtown Davis.
Our target audiences are the students of Davis, from middle school to college, as well as all ages who are interested in modern technology.
Customers will be morally incentivized to take advantage of our service because virtual reality rentals help conserve the environment as people will not all buy their own virtual reality headsets, and it will allow people to try this experience without purchasing a manufactured item that they may then discard shortly after. There will be a social incentive caused by customers’ desires to be up-to-date with modern technologies and entertainment services, including virtual and augmented reality, which is becoming more popular amongst the younger generations. Because rentals allow people to try an experience without purchasing an item they might not use again, we also offer a strong economic incentive. Depending on how often customers use virtual reality, Reality Override could be a cheaper alternative, rather than purchasing their own equipment and software.
We provide an experience that allows customers to enjoy themselves through various uses of virtual and augmented reality. We will provide sessions for virtual reality escape rooms, rental virtual reality sets, games, and movies, and snacks and drinks from vending machines, all within a setting in which customers can socialize and interact with virtual reality.
Reality Override will be run from a physical location in downtown Davis that will be used to provide the experience for customers, run the operation, and store necessary supplies. Specifically, we will be located at 610 3rd St. Davis, CA 95616 in the heart of downtown Davis.
Our target audiences are the students of Davis, from middle school to college, as well as all ages who are interested in modern technology.
Customers will be morally incentivized to take advantage of our service because virtual reality rentals help conserve the environment as people will not all buy their own virtual reality headsets, and it will allow people to try this experience without purchasing a manufactured item that they may then discard shortly after. There will be a social incentive caused by customers’ desires to be up-to-date with modern technologies and entertainment services, including virtual and augmented reality, which is becoming more popular amongst the younger generations. Because rentals allow people to try an experience without purchasing an item they might not use again, we also offer a strong economic incentive. Depending on how often customers use virtual reality, Reality Override could be a cheaper alternative, rather than purchasing their own equipment and software.
Mission
Our mission is to create an experience for students to enjoy unique recreational activities that are not offered in the average facility or game.
Our vision is to provide an arcade-like venue in which students can experience various recreational activities, including escape rooms, games, and movies, that are adapted to modern technology through virtual and augmented reality.
We value endless possibilities and growth, a healthy and happy community, and modern technologies.
Our vision is to provide an arcade-like venue in which students can experience various recreational activities, including escape rooms, games, and movies, that are adapted to modern technology through virtual and augmented reality.
We value endless possibilities and growth, a healthy and happy community, and modern technologies.
Vision
Our vision is to provide an arcade-like venue in which students can experience various recreational activities, including escape rooms, games, and movies, that are adapted to modern technology through virtual and augmented reality.
Values
We value endless possibilities and growth, a healthy and happy community, and modern technologies.
Community ConnectionReality Override will reach out to Davis schools and the local University of California, Davis to offer students free access to our virtual reality technology in schools to enhance educational experiences and opportunities. We will also partner with the schools’ computer science courses to provide students with the opportunity to learn about virtual and augmented reality, as well as a chance to develop and program an escape room or game to be used in Reality Override. Additionally, we will reach out to the City of Davis to provide demonstrations of Reality Override at city events.
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Industry OutlookThe current economic status of virtual reality has been growing across the United States. The growing popularity of the market has it predicted to generate $9.3million of revenue by 2025. This is a new market in the Davis community because there has yet to be a virtual reality escape room. The difficulty will be getting new players because it is a new company that needs to gain the trust of the public.
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Customer ProfileOur customer would be out of Local Demographics of high school and college students, people interested in technology and/or video games, and people who want a social experience. Some consumer Trends that come out of our business are VR/Video games are popular, Escape rooms are popular, and Cool hangout spots for our demographic. We are focusing on the Davis California population of 68,986 and out of that the total UCD population plus the high school population of 37,650. We will also narrow down our customer base with the thought that 70% of students play video games times 37,650 students which equals about 26,355 students that would be our Total Available Market to sell to in Davis. We also took a survey of our community to understand what customer base we would get and these are the results below.
Pricing Strategy and PositionWe require a fair amount of space (large location) in order to give people the space to experience. We also would need to VR safely without breaking the bank. Possibly requires hiring professional software developers to develop and program VR escape rooms and a team to design the rooms - software developers are very expensive. Must take advantage of emerging VR technology before it becomes too popular and commonplace (as people won’t want to rent VR if they already own it). Must keep up-to-date with the latest VR technology, games, and movies. Regulation licensing - entertainment licensing, industry regulations surrounding renting games, etc. We would need developer approval for games and movie producer approval.
Our current position is that our product is unique so people could use VR without having to buy the expensive gear, and have a safe space to use VR. We want people to view our company as a place to come experience VR and a place to come interact with similar people with their interests. We also want to cater to not only people who are interested in video games, but try to appeal to all sorts of niches. One of our competitors Zion Virtual Reality is our biggest competitor because they offer the same experience with the VR headsets. To make sure we are different from our competitors is to make sure that our product offers more to it with the programs we will focus on, such as escape room programs and adding augmented reality. |
CompetitionOne of our Direct competitors is Zion Virtual Reality: VR arcade in Sacramento, CA. This place has the same idea as us in their business. They target a wider market than us, more family-oriented. This business has only a minimum of 1 hour of playtime. They also do not offer movies or all games. It is $25 Each Per Hour for two or more stations and $30 for one station on weekdays. On weekends it is $25 for three or more stations and $27.50 for two or less stations. Another Direct competitor is Minervium Escape Games: escape room in Davis, CA. They are also in Davis focused on some of the items we provide for our customers. This company does not offer virtual reality or other video games/entertainment services, so we have a different customer base. They only offer a single escape room at one time, rotates escape room type (limited in variety). Targets a wider market than us, but fairly similar which could lead to more customers than us. Lastly we have another direct competitor called UC Davis Games Area: gaming-related area for college students on UC Davis campus (includes bowling, PC games). This place allows people to play video games with each other, but does not offer VR or many games. One thing they offer is also a bowling alley that we will not provide. It also targets the same market as us with a focus on college students.
Some of our indirect competitors are Oculus and other VR companies: sell VR headsets Not for rental which targets a similar audience, and buying VR is expensive. We offer a cheaper alternative for an experience. One other indirect competitor is Steam and other VR game sellers: sell VR games, They are not for rental, they do target a similar audience, and buying individual games is expensive; we offer a cheaper alternative with a variety of games for an experience. |
Promotion and Marketing
We plan on advertising through flyers in person, and banner ads on popular websites like YouTube. We also plan on offering a free demonstration during the picnic day festivities to get the word out and build a rapport with the Davis community.
On our grand opening night, we will be offering 25% off time in Virtual Reality. After our opening, and if business warrants it, we may offer 30 minute free trials for those who sign up to our point rewards system. To incentivize patrons to bring their friends, patrons can gain 30 minutes free for signing a friend up. The rewards system will give rewards, like merchandise, time, and possibly exclusive games and movies to customers who frequent our establishment. This will likely keep many of our customers coming back for more to see what we have in store week after week.
On our grand opening night, we will be offering 25% off time in Virtual Reality. After our opening, and if business warrants it, we may offer 30 minute free trials for those who sign up to our point rewards system. To incentivize patrons to bring their friends, patrons can gain 30 minutes free for signing a friend up. The rewards system will give rewards, like merchandise, time, and possibly exclusive games and movies to customers who frequent our establishment. This will likely keep many of our customers coming back for more to see what we have in store week after week.