AR/VR BUSINESS PLAN IN NIGERIA
This sample AR/VR Business Plan in Nigeria can be used for Grant Applications, Bank Loans, Proposal writing, Business Concept Note, Competitions etc. Accounting Firm Business Plan is a lucrative business that needs a lot of strategic Planning to start and a business coach like Dayo Adetiloye to help you start the Implementation.
BUSINESS DESCRIPTION OF AR/VR BUSINESS PLAN IN NIGERIA
BUSINESS: Augumented Reality/Virtual Reality (AR/VR)
Patilad AR/VR Studios is a software development company that develops Augmented and virtual reality technologies for educational institutions, and students.
The studio creates world-class interactive software products for education and training in schools and classrooms and is based in Jos, Nigeria.
Patilad Studios is solving the problem of lack of properly equipped laboratory and library infrastructure across many schools, our products enable students to view the map of the world in 3D, or participate in other hands-on experiences and environments that aren’t physically available.
Patilad Studios deliver physical and psychological experiences through immersive real-life situations in a safe environment, students can practice with physically unavailable equipment e.g., a fully functional chemistry lab or an extinct animal come to life.
AR technology is a combination of digitally augmented data with physical properties, so that users experience real existing environments but with computer-generated imagery, which means that it is a live superimposition of a virtual model, on a real-world extracted video, while VR technology enables experiences to take place in a completely simulated environment and isolated reality.
Global spending on AR/VR is expected to reach $192billion in 2022 at a CAGR of 70% over the next 6 years, and as a business, we are demonstrating our commitment to the development and integration of sustainable educational practices.
- Inadequate Laboratory and Library Infrastructure:
- Many schools face challenges in providing well-equipped laboratories and libraries, limiting students’ hands-on experiences and access to diverse learning resources, hindering their educational development.
- Limited Access to Physical Learning Resources:
- Students often lack access to essential physical resources and equipment, such as functional chemistry labs or immersive experiences with extinct animals, restricting the breadth of their educational experiences.
- Restricted Learning Environments:
- Traditional classrooms limit students to theoretical learning, lacking exposure to real-life situations and practical applications that are essential for a comprehensive understanding of various subjects.
- Development of AR/VR Educational Technologies:
- Patilad AR/VR Studios addresses the infrastructure gap by developing cutting-edge Augmented and Virtual Reality technologies tailored for educational institutions. These technologies provide an immersive learning experience beyond the limitations of physical facilities.
- World-Class Interactive Software Products:
- The studio creates world-class interactive software products that allow students to explore 3D maps and engage in hands-on experiences not feasible in traditional settings, overcoming the limitations of physical infrastructure and expanding the scope of educational possibilities.
- Immersive Real-Life Simulations:
- Patilad Studios delivers physical and psychological experiences through immersive, real-life simulations. This allows students to practice with virtual versions of equipment, such as a fully functional chemistry lab, providing a safe yet authentic environment for learning.
- AR and VR Technologies for Diverse Learning Experiences:
- By harnessing the power of Augmented and Virtual Reality, the company enables students to experience digitally augmented data in real-world environments (AR) and fully simulated environments (VR). This broadens the scope of educational possibilities and ensures a more engaging and effective learning process.
- Commitment to Sustainable Educational Practices:
- Patilad Studios aligns with the global shift towards sustainable educational practices by investing in AR/VR technologies. This commitment ensures continuous innovation, enhancing the quality and accessibility of education while preparing students for a rapidly evolving future.
In summary, Patilad AR/VR Studios identifies and addresses challenges in traditional education settings by leveraging advanced technologies to create immersive, interactive, and sustainable educational solutions.
BENEFITS FOR AR/VR BUSINESS PLAN IN NIGERIA
- Access to educative virtual environments and equipment
- Interactive and immersive content
- Engaging and efficient
- Reduce costs of physical equipment
- Boost training retention
PRODUCTS AND SERVICES FOR AR/VR BUSINESS PLAN IN NIGERIA
KEYS TO SUCCESS FOR AR/VR BUSINESS PLAN IN NIGERIA
- Develop new immersive, interactive and educative software for kids mainstream market.
- Solidify strong strategic partnerships/distributors, exploring innovative new sales channels.
- Partner with the ministry of education to cover a lot of schools
- Develop a campaign to promote our current products and services
- Integrate human resources
- Create additional technologies to diversify the user base
- Promotion and advertising
- Strategic partnerships
USE CASE FOR AR/VR BUSINESS PLAN IN NIGERIA
AR/VR has been used to disrupt processes across a lot of industries today,
- Healthcare- infrared technologies have been used to visualize veins of blood donors during blood donation
- Education- a combination of interaction with AR visual information to books, allowing kids to get exciting experiences studying geography, chemistry, etc.
- Advertising- Ikea made an app to help customers visualize furniture in their homes before purchase, to avoid any disappointment
GOALS FOR AR/VR BUSINESS PLAN IN NIGERIA
- Our ultimate goal is to partner with the Ministry of education to encompass all schools in need of educational equipment to adopt AR/VR solutions as they are more affordable and an AR/VR lab is multi-functional.
- Quality -This is our greatest strength.
- Customer Satisfaction- We must remain profitable to sustain the company in this rapidly
- Growth- market share growth
- Corporate governance
- People- The people who work for PATILAD Studios are the best in their fields, and we not only utilize their specific industry skills, and we want to keep them for optimal performance.
CORE VALUES FOR AR/VR BUSINESS PLAN IN NIGERIA
Our core values are transparency and integrity, the technology industry is dependent on trust to achieve brand loyalty.
VISION FOR AR/VR BUSINESS PLAN IN NIGERIA
To provide and foster advancement in interactive education.
MISSION FOR AR/VR BUSINESS PLAN IN NIGERIA
We know that there are inadequacies in the education industry that makes learning inefficient and we are building solutions to cover these gaps and make learning more effective.
SWOT ANALYSIS FOR AR/VR BUSINESS PLAN IN NIGERIA
- STRENGTHS- Getting competent talent on our team has always been a major focus for us, at Stack we have a strong and competent technical and Marketing team with deep sector knowledge in the development and deployment of AR/VR technology and business.
- WEAKNESS- as a new start-up and player in the industry our only weakness is the immediate ability to compete for market share with the already existing big players.
- OPPORTUNITIES- AR/VR is a disruptive technology and a lot of institutions are adopting it to improve major aspects of their business process, hence there is an exciting huge market opportunity to be catered for.
- THREATS- Most of the threats we anticipate as an AR/VR technology provider include government policy and regulation, and economic crises that reduce the purchasing power of our customers
BUSINESS MODEL FOR AR/VR BUSINESS PLAN IN NIGERIA
Subscription – our users can enjoy all features of our products for a premium charge.
KEY PLAYERS FOR AR/VR BUSINESS PLAN IN NIGERIA
The biggest players and stakeholders in the AR market are big companies like Google, Apple, Facebook for owning the main devices for this kind of application, accessible through android, and IOS devices.
MANAGEMENT TEAM FOR AR/VR BUSINESS PLAN IN NIGERIA
Daniel Balmun- A full-stack software engineer, with over 10 years of demonstrated working experience in technology industries and fast-growth start-up markets, as he serial founder, with domain expertise in enterprise application development, who has succeeded at other technology companies, he will serve as the product design and engineering lead on the erstwhile team.
Dayo Adetiloye- (B. Agric, MBA, PMP) has over 15 years of experience in business management, business start-up dynamics, financial management of the business, and overall business growth and development, he is an alumnus of the enterprise development center (EDC) of the Lagos business school (LBS) pan African university PAU) he is our business development strategist and a strategic partner
Lilian Mfon- Lilian is the head of our marketing team, most of our marketing strategies are online-based and she is the best personnel for the job she has a well-established digital marketer with proficiency in content management social media marketing, search engine optimization, and marketing.
WE BROUGHT TO THE BUSINESS
- Practical start-up sector expertise
- Deep technology knowledge
- Professional business acumen
MANAGEMENT EXPERIENCE FOR AR/VR BUSINESS PLAN IN NIGERIA
The Patilad Studios founding team is highly experienced and qualified, the key members of the management team, bring important business acumen and expertise to the table as follows;
- Software development
- Sales and marketing
- Human resource management
CUSTOMER SEGMENTS FOR AR/VR BUSINESS PLAN IN NIGERIA
Our target demographic covers a large spectrum of customers including
- Educational and training institutions
- We plan to expand into the healthcare industry in 2 years
COMPETITOR ANALYSIS FOR AR/VR BUSINESS PLAN IN NIGERIA
People will use our service over our competition because we consider many major intensive factors such as;
- Competitive pricing – we offer a one-time purchase option, in addition to our subscription model.
- Freemium- we offer a free functionality on our applications that provides simple tools for students and educators to create environments and classrooms to visualize or demonstrate an idea, and then they have to pay to access other features.
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