Get a watermark-free, fully customizable competition study in our business plan for an esports bar establishment
As the esports bar scene continues to grow, understanding the competitive environment is crucial for your establishment's success.
In this post, we'll guide you through a detailed competition analysis specifically designed for esports bars. We'll cover how to pinpoint your main competitors, both direct and indirect, and how to assess their strengths and weaknesses. This knowledge will empower you to carve out a unique space for your esports bar in an increasingly popular industry.
If you're looking for a ready-made competition study that's fully customizable, be sure to check out our business plan template crafted for an esports bar venture.
What is exactly a "competition study"? Should you make one for your esports bar establishment?
A competitor study in the context of an esports bar involves a detailed examination of other businesses that share your niche market.
This includes direct competitors, such as other esports bars and gaming lounges in your vicinity, as well as indirect competitors like traditional sports bars, internet cafes, or even home entertainment setups that might keep potential customers from visiting your establishment.
The goal is to dissect their business models, strengths, weaknesses, customer engagement strategies, and overall performance to pinpoint opportunities and threats for your own esports bar.
Why do esports bar owners conduct competitor studies? Simply put, knowledge equates to a strategic advantage.
Grasping the competitive environment enables you to sharpen your unique selling points.
For example, if you find that most esports bars in your area lack a diverse game selection or have limited seating, these could be areas where your bar excels. Or, if you notice that your competitors have not fully embraced streaming events or community tournaments, these could be services that set your business apart.
The advantages of performing a comprehensive competitor analysis, similar to what you would find in our business plan template tailored for an esports bar, are numerous. It steers you clear of common missteps made by others and helps you to identify unexploited niches. It can spark innovation in your gaming offerings, event planning, marketing strategies, and overall customer experience.
Additionally, understanding who you're up against can inform your pricing and promotional strategies, ensuring your esports bar is competitively positioned in the market. It also keeps you nimble, allowing you to adapt to changes in the competitive landscape promptly and effectively.
Should you conduct a competitor study if you're launching a new esports bar project? Absolutely.
Jumping into the esports bar scene without a grasp of the competition is akin to navigating without a map. A competitor study sheds light on the terrain, aiding you in overcoming obstacles and capitalizing on chances for success. It's a crucial element of your business planning, setting the stage for a tactical approach that not only considers market entry but also long-term prosperity.
Is a competitor study beneficial for you? Undoubtedly, especially if you're committed to making savvy decisions that will distinguish your esports bar. Whether it's carving out your niche, pricing your services right, or choosing the most impactful marketing tactics, a competitor study equips you with the insights to proceed with assurance.
It's not merely about tracking what others are doing; it's about figuring out how you can do it better or differently to attract and retain a loyal customer base.
How to conduct a competition study for your esports bar establishment?
To conduct a competition study for your esports bar, start by gathering information on local competitors by looking into their gaming facilities, event offerings, pricing, customer reviews, and marketing strategies.
Then, compare these aspects with your esports bar to pinpoint your unique selling points and areas where you could enhance your customer experience.
We also offer a concise competition study template that you can customize with your own data in our business plan for an esports bar.
To streamline the process for you, here's a 10-step action plan to craft a relevant competition study for your esports bar.
| Step | Action | Details |
|---|---|---|
| 1 | Identify your competitors | List local esports bars and gaming lounges within your target market. |
| 2 | Analyze their gaming facilities | Compare their gaming setups, technology, and game selections to yours. |
| 3 | Evaluate their event offerings | Look at the types of events they host, such as tournaments or viewing parties. |
| 4 | Assess their customer service | Read customer reviews and testimonials to understand their service quality. |
| 5 | Study their visual branding | Analyze their logo, interior design, and overall theme to see how it appeals to gamers. |
| 6 | Check their online presence | Review their website, search engine ranking, and social media engagement. |
| 7 | Understand their pricing strategy | Identify how they price their services, including gaming time and membership fees. |
| 8 | Monitor their customer engagement | Observe how they interact with customers on social media and gaming platforms. |
| 9 | Identify their strengths and weaknesses | Based on your analysis, determine areas where they excel or could improve. |
| 10 | Leverage findings to improve your business | Use the insights gained to enhance your gaming experience, events, and customer service. |
What should be included in a competition study for an esports bar establishment?
Here is a table listing 10 elements that could be part of a competition study for an esports bar establishment.
| Name of the Element | Description |
|---|---|
| Market Position | The standing of the competition within the local esports scene, including their reputation and brand recognition. |
| Gaming and Entertainment Offerings | The variety and quality of games and entertainment provided, such as PCs, consoles, VR setups, and live streaming capabilities. |
| Pricing Models | How competitors structure their pricing for gaming time, drinks, and food, as well as any membership or hourly pass options. |
| Target Audience | Understanding the specific gamer demographics and psychographics that frequent the competition, including age, gaming preferences, and spending habits. |
| Location and Venue Accessibility | The strategic placement of competitors, ease of access, transportation options, and the availability of parking spaces. |
| Marketing and Brand Presence | The strategies used by competitors to promote their brand, including partnerships with gaming companies, influencers, and use of social media platforms. |
| Customer Feedback and Engagement | Public perception as seen through online reviews, social media engagement, and community involvement in gaming events or tournaments. |
| Service and Experience Quality | The level of customer service, including the knowledge and helpfulness of staff, as well as the overall customer experience. |
| Ambiance and Thematic Design | The atmosphere of the venue, including gaming-themed decor, comfort of gaming stations, and the overall vibe that appeals to esports enthusiasts. |
| Safety and Security Measures | Measures taken to ensure the safety and security of guests and their belongings, particularly in a setting with high-value gaming equipment. |
Examples of competition studies for an esports bar establishment
Below are three different (very concise) examples of competition studies tailored for a High-Tech Esports Bar, a Themed Esports Bar, and a Community-Focused Esports Bar.
If you need something more developed, go check our business plan template for an esports bar.
High-Tech Esports Bar Competition Study
| Competitive Factor | Description |
|---|---|
| Gaming Equipment | State-of-the-art PCs, consoles, VR setups, and high-speed internet. |
| Price Range | Mid to high pricing, justifying the advanced technology and facilities. |
| Location | Strategically placed in tech hubs or urban areas with a young demographic. |
| Customer Service | Staff with technical gaming knowledge and the ability to assist with equipment. |
| Ambiance | Futuristic design with dynamic lighting and ergonomic gaming spaces. |
| Unique Selling Proposition (USP) | Exclusive access to beta games, gaming tournaments, and tech sponsorships. |
Themed Esports Bar Competition Study
| Competitive Factor | Description |
|---|---|
| Thematic Experience | Decor and ambiance reflecting popular games or gaming culture. |
| Price Range | Varied pricing, offering themed merchandise and collectibles. |
| Location | Areas popular with tourists or near gaming conventions for higher visibility. |
| Customer Service | Staff dressed in character and trained to enhance the thematic experience. |
| Ambiance | Immersive environment with themed music, menu items, and events. |
| Unique Selling Proposition (USP) | Regular theme nights, cosplay events, and partnerships with game developers. |
Community-Focused Esports Bar Competition Study
| Competitive Factor | Description |
|---|---|
| Community Engagement | Hosting local gaming leagues, workshops, and social gaming nights. |
| Price Range | Affordable pricing to attract regulars and support the local gaming community. |
| Location | Near colleges, residential areas, or other community gathering spots. |
| Customer Service | Personable staff with a passion for gaming and community building. |
| Ambiance | Comfortable and welcoming space that encourages group interaction and events. |
| Unique Selling Proposition (USP) | Focus on local multiplayer games, community boards, and support for local esports teams. |
You can also read our articles about:
- how to fill a Business Model Canvas for your esports bar establishment
- how to segment the customers of your esports bar establishment
- how to elaborate a marketing strategy for your esports bar establishment
- how to open an esports bar (guide)