• Research the board game industry and existing companies – Identify trends, analyzed competitors, and explore potential business opportunities.
• Write a business plan – Create an executive summary, detail the market & competitors, develop your product/service offering, create financial forecasts and develop an operating plan.
• Secure financing – Consider traditional loan options (banks, SBA) or venture capital investors.
• Create branding – Develop a unique logo and overall look & feel for your company.
• Attain business licenses & permits – Determine what licenses/permits are required to start & operate a board game business in your area.
• Source & hire employees – Recruit, screen and select qualified candidates to join your team.
• Develop product/service offering – Research what’s on the market, create prototypes and test them (focus groups).
• Market your business – Create an online presence, design promotional materials, attend conventions & events.
• Manage your finances – Create a budget and track expenses using accounting software.
• Durability test your product/services – Test out the final prototype to ensure durability of board game components and confirm overall satisfaction with the product/service offering.
• Set up customer service – Create customer support process and policies, assign roles/responsibilities and develop communication channels (phone, email, website).
• Purchase insurance – Obtain liability protection to cover property damage and potential legal costs.
• Establish an inventory management system – Track orders & shipments, manage stock levels and monitor overall financial performance of the business.
• Finalize distribution – Identify potential distributors and create contracts.
• Track performance metrics – Monitor and review financials, customer feedback and marketing efforts to identify areas for improvement.