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8:T29f4,{"id":"cG9zdDo3NTUz","title":"Online Gaming Gear Retail Financial Model Example","content":"<p>Our Online Gaming Gear Retail Financial Model Structure covers all the essential aspects you need to consider when starting or scaling a Online Gaming Gear Retail business. By following this structure, you can better understand your revenue streams, costs, and assets, helping you optimize profitability and strategically plan for growth.</p>\n<p>Financial planning is a crucial step for anyone planning to start or expand an Online Gaming Gear Retail business. Crafting a comprehensive financial model will help outline potential revenues, direct costs, necessary employees, expenses, and assets that will support the growth and sustainability of the business. This article will discuss key elements of a financial model, which could also uncover new and profitable revenue opportunities for your business. The Online Gaming Gear Retail financial model structure must be adaptable because markets shift rapidly. Although challenges arise, this planning enables strategic foresight.</p>\n<h2>The Online Gaming Gear Retail financial model structure</h2>\n<h3>Revenues</h3>\n<p>The typical revenue streams for an Online Gaming Gear Retail business encompass various categories:</p>\n<ul>\n<li>Hardware Sales: Revenue is derived from sales of gaming consoles, CPUs, and other hardware components. Estimate units sold multiplied by average price per unit.</li>\n<li>Peripheral Sales: This stream includes keyboards, mice, and headsets. Calculate by estimating the number of units sold and average unit price.</li>\n<li>Accessory Sales: Items such as mouse pads, controller skins, and keyboard covers should be tallied by number sold and price.</li>\n<li>Digital Products: Sale of digital products like software licenses. Calculate via download units times license cost.</li>\n<li>Subscription Fees: Revenue from loyalty or membership programs, calculated by the number of subscribers and fee per period.</li>\n<li>Gift Cards: Income from gift cards which becomes revenue when redeemed, calculated by total value of gift cards sold.</li>\n<li>Sponsorships or Partnerships: Revenue from partnerships, often calculated based on agreed terms per contract.</li>\n</ul>\n<p>However, each of these streams can vary significantly because of market trends and consumer preferences. Although they provide a solid foundation for revenue, it is crucial to continually assess and adapt strategies to maximize earnings.</p>\n<h3>Cost of goods sold</h3>\n<p>The cost of goods sold (COGS) includes direct costs such as purchasing inventory from suppliers, shipping, and handling costs related to those revenue streams. Each product line will have its specific COGS, often calculated as a percentage of the revenue from that product or a fixed price per unit. However, this can vary significantly because of differences in supplier contracts and market demand. Although the methodology is straightforward, the actual figures can be deceptive.</p>\n<h3>Employees</h3>\n<p>Typical roles in an Online Gaming Gear Retail business include:</p>\n<ul>\n<li>Store Manager: Oversees daily operations, staff, and inventory management.</li>\n<li>Sales Associate: Assists customers, processes sales, and manages product displays.</li>\n<li>Marketing Manager: Develops marketing strategies to increase brand awareness and sales.</li>\n<li>Inventory Specialist: Manages stock levels, orders products, and handles receipts.</li>\n<li>Customer Service Representative: Handles customer inquiries and support requests.</li>\n</ul>\n<p>Although these roles differ, they all contribute to the overall success of the business and its operations.</p>\n<h3>Operating expenses</h3>\n<p>Operating expenses for an Online Gaming Gear Retail business encompass several key areas:</p>\n<ul>\n<li>Rent: Monthly fee for physical warehouse or storage space.</li>\n<li>Utilities: Electricity, internet, water, and other basic utilities.</li>\n<li>Marketing and Advertising: Expenses related to online and offline promotions.</li>\n<li>Software and Subscriptions: Costs for retail software, CRMs, and various tools.</li>\n<li>Shipping and Handling: Costs associated with delivering products to customers.</li>\n<li>Maintenance and Repairs: Expenses for maintaining equipment and store facilities.</li>\n<li>Insurance: Premiums for business and inventory insurance policies.</li>\n<li>Office Supplies: Purchases of necessary supplies for operations.</li>\n<li>Staff Training: Programs to enhance skills and knowledge of employees.</li>\n<li>Taxes and Licenses: Compliance-related costs, including business licenses.</li>\n</ul>\n<h3>Assets</h3>\n<p>The primary assets needed include:</p>\n<ul>\n<li>Inventory: Stock of gaming gear ready for sale.</li>\n<li>Display and Storage Equipment: Racks and shelving for displaying goods.</li>\n<li>Point of Sale (POS) Systems: Hardware and software for processing sales.</li>\n<li>Computers and IT Equipment: Necessary for administrative and sales tasks.</li>\n</ul>\n<p>Although these elements are crucial, maintaining them can be challenging. This creates a need for regular updates and checks to ensure efficiency, but it often goes overlooked.</p>\n<h3>Funding options</h3>\n<p>Typical funding options may include:</p>\n<ul>\n<li>Self-Funding: Using personal savings to finance start-up costs.</li>\n<li>Bank Loans: Loan agreements made with a financial institution.</li>\n<li>Angel Investors: Investment from an individual or group in exchange for equity.</li>\n<li>Venture Capital: Funds from venture capitalists who seek equity stakes.</li>\n<li>Grants: Non-repayable funds from government or private organizations.</li>\n<li>Crowdfunding: Raising small amounts of money from a large number of people via the internet.</li>\n</ul>\n<h2>Driver-based financial model for Online Gaming Gear Retail</h2>\n<p>A truly professional financial model for an Online Gaming Gear Retail business is grounded in the operating Key Performance Indicators (KPIs) relevant to this industry. Examples of such KPIs include:</p>\n<ul>\n<li>Customer Acquisition Cost: The total cost of acquiring a new customer.</li>\n<li>Average Order Value: The average amount spent each time a customer places an order.</li>\n<li>Conversion Rate: Percentage of visitors who make a purchase.</li>\n<li>Customer Retention Rate: The percentage of repeat customers over time.</li>\n<li>Inventory Turnover Rate: How quickly inventory is sold within a given period.</li>\n<li>Gross Margin Percentage: The percentage of revenue left after COGS is deducted.</li>\n<li>Net Profit Margin: Overall profitability after all expenses are deducted.</li>\n<li>Online Traffic: Number of visitors to your online store.</li>\n<li>Order Fulfillment Time: Average time taken to process and ship an order.</li>\n</ul>\n<p>Driver-based financial planning involves identifying key activities or &#8216;<a href=\"https://www.shipbob.com/blog/ecommerce-kpis/\">drivers</a>&#8216; that have a significant impact on business outcomes. Building financial plans around these activities allows for the establishment of relationships between financial results and the resources needed to achieve those results, such as people, marketing budgets, equipment, and more. Although you may want to know more about driver-based financial planning and why it is the right way to plan, you should see the founder of Modeliks explaining it in the video below.</p>\n<p><iframe loading=\"lazy\" title=\"Unleashing the Secrets: Dominating Driver-Based Financial Planning\" width=\"640\" height=\"360\" src=\"https://www.youtube.com/embed/TRMzfKz9OOw?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen></iframe></p>\n<h2>The financial plan output</h2>\n<p>The objective of the financial forecast outcomes should enable you, along with your management, board, or investors, to:</p>\n<ul>\n<li>Quickly comprehend how your Online Gaming Gear Retail enterprise will perform in the future.</li>\n<li>Gain assurance that the plan is well-considered, realistic, and achievable.</li>\n<li>Discern what investment is required to implement this plan and what the return on the investment will be.</li>\n</ul>\n<p>To accomplish these objectives, here exists a one-page template for effectively presenting your financial plan.</p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"/images/cms/WhatsApp-Image-2024-09-27-at-09.52.52.jpeg\" alt=\"Online Gaming Gear Retail financial plan\" width=\"800\" height=\"520\" /></p>\n<p>Apart from this one-page summary of your plan, you will need the three projected financial statements; however, this is crucial for clarity and success.</p>\n<ul>\n<li>Profit and Loss</li>\n<li>Balance Sheet</li>\n<li>Cash Flow Statement</li>\n</ul>\n<h2>Online Gaming Gear Retail financial model summary</h2>\n<p>A professional Online Gaming Gear Retail financial model will help you think through your business. It identifies the resources you need to achieve your targets, set goals, measure performance, raise funding, and make confident decisions to manage and grow your business. However, this model is crucial because it provides clarity and direction. Although challenges may arise, the insights gained are invaluable for long-term success.</p>\n<p>If you need help with your financial plan, try <a href=\"https://modeliks.com\" target=\"_blank\" rel=\"noopener\">Modeliks</a>, a financial planning solution for SMEs and startups or contact us at <a href=\"mailto:contact@modeliks.com\">contact@modeliks.com</a> and we can help.</p>\n<p>Author:<br />\n<a href=\"https://www.linkedin.com/in/blagojahamamdziev/\">Blagoja Hamamdjiev</a>, Founder and CEO of <a href=\"https://www.modeliks.com/\" target=\"_blank\" rel=\"noopener\">Modeliks</a>, Entrepreneur, and business planning expert.</p>\n<p><em>In the last 20 years, he helped everything from startups to multi-billion-dollar conglomerates plan, manage, fundraise, and grow.</em></p>\n","slug":"online-gaming-gear-retail-financial-model-example","date":"2025-01-17T11:38:56","featuredImage":{"node":{"id":"cG9zdDo4MjY2","sourceUrl":"/images/cms/oleg-ivanov-PADdeEofgt0-unsplash.jpg","altText":"Online Gaming Gear Retail business plan"}},"seo":{"metaDesc":"Discover the Online Gaming Gear Retail financial model to boost profitability. 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