Tweaking the Innovation

Here's my product service mix for my company idea: Virtual-reality rental lounge business.

Revenue Drivers:

• Items
• Services

Headset Rentals

• Physical Lounge Area - Furnish our building (lounge) with comfortable furniture geared towards relaxation and comfort for those sitting for long periods of time.
• Variety - Offer several different types of VR headset to rent, and charge customers based off of type of headset and duration of session in lounge.
• Selection - Allow customers to use VR headset for several different purposes, such as watching TV, movies, or playing games.

Games and Peripherals

• Sales - Carry and supply retail versions of headsets for customer purchase and sale of peripherals for lower cost than other suppliers, as well as copies of the games used in the VR headset rentals.
• Try-before-you-buy - Allow customers to demo products and allow for selection based off of their personal preferences.
• Incentive - Provide top-of-the-line equipment and areas that can only be used feasibly in the lounge setting.

Food and Refreshments

• Supply and Demand - Customers to the lounge are intended to stay for long periods of time, so providing food and refreshments will create an additional revenue stream.
• Quality - Ensure that products offered are of high quality and encourage customers to become repeat-purchasers in the future.

Starting up this kind of business, a VR lounge, I feel would be a very interesting and unique opportunity to capitalize on in today's market. VR is up-and-coming currently, but I strongly feel that VR will be one of the "next big things" to hit the market, as evidenced by its already-positive response from early adopters and those who have tried the technology, myself included. The possibilities for this kind of business are boundless, and I think it's an interesting concept to think about.