Yet it is also an industry where failure is easy to come across. Gamers can be notoriously fickle, and one bad title can see your startup plunge into obscurity. 

However, they also have the utmost loyalty. Get it right and you will build strong brand awareness and followers for life. Below, we give three tips you must follow when building a gaming startup. 

Know Your Audience

It is easy to categorise your audience simply as 'gamers'. Yet that is a grave mistake. People who play games now cover a huge cross-section of society and there are many misconceptions about who plays. ExpressVPN reported that despite the prejudice that gamers are mostly young guys, it is the older generations who play more. People in their late twenties to forties spend more time each week on gaming than their younger counterparts. In the 46 years and over category, 18% of gamers spend more than 24 hours a week playing, as opposed to 3% of 16 to 25-year-olds. 

Added to this is the number of niche gamers. Take a look on the Playstation or Nintendo Store, and as well as the big budget titles there are games including franchises like Peppa Pig and Paw Patrol. Thus, you should treat your audience in the same way you would if you started any other business. Get their demographics and define them by age, income, and other characteristics. This should inform everything you do, from the game's complexity to your decision to include in-game purchases or not. 

Do Thorough Research

Just as knowing your audience is vital, so is knowing the market you are going into. Are you entering the established Western and Asian markets? Or will you take a risk in emerging areas like Africa and India, where gaming is just starting to flourish?

By researching, you can map out any risks involved and any issues that may impact the business. One particular area is the legalities of your business. Only certain games are allowed on many platforms, so you need to comply with these to be able to reach the biggest audience. 

Get the Right Team

Unless you have unlimited backing, your startup will open with just a few members of staff, who will have to work hard to get your games out. Thus, hiring people based on qualifications and experience alone will not be enough. 

Make sure you hire a person who is passionate about the games you are creating. They must be willing to go the extra mile and love the title just as much as you. They must bring ideas to the table. Most of all, make sure they offer longevity and keep up with the ever-evolving industry. You don't want to be hiring people who jump from company to company, as it takes time and effort to rehire. It is also important you get someone who is on the pulse of industry trends and does not become outdated. Websites like Hitmarker deal specifically with hiring for the gaming industry. 

When it comes to other points, many are the same as other business criteria like making a sound business plan. However, with these in place, you should soon find a great team and get your startup off to a flying start.