How to create a million dollar VR/virtual tour business?
Welcome back, everyone! My name is Zach Calhoon and I am the co-founder of CloudPano.com, the world’s best virtual tour software.
Today, we are going to be discussing a topic that I am sure many of you are interested in: How to create a million dollar virtual tour business. Is this even possible? The short answer is yes, it is possible. There are already virtual tour companies out there that are providing this service to large institutions and are crossing the one million dollar mark. However, it will take a lot of work and careful planning to get to this point.
One thing to keep in mind is that it is not feasible to create a million dollar virtual tour business within the real estate industry. The margins are too low and it would be difficult to generate the volume needed to bring in 80,000 dollars or more per month in revenue. While it is possible, it would require a large team and strong partnerships within the industry.
A better path to take may be to target large institutions that are already willing to pay a significant amount of money for virtual tours. Universities and colleges, for example, have a lot of funding and are willing to pay 15-25,000 dollars for virtual tours. They also already understand the value of virtual tours and are educated in the market.
If you are a freelancer or a small team, it may be difficult to secure these large deals on your own. In this case, it is important to present yourself as a professional million dollar business. This means having a well-designed website, strong case studies and client testimonials, and the ability to provide a high level of service.
It is also important to diversify your income streams. While it is great to secure large deals with institutions, it is also a good idea to offer virtual tours to small businesses or individuals on a smaller scale. This will help to steady your income and provide a backup plan in case one of your larger deals falls through.
In conclusion, it is possible to create a million dollar virtual tour business, but it will take a lot of hard work and careful planning. By targeting large institutions and diversifying your income streams, you can set yourself up for success. Don’t forget to present yourself as a professional and reliable business in order to secure those large deals.