How do I go about starting a chess related business?
Hey so I want to start a chess website similar to chess24.com
1.) Do I need to build an app?
2.) What is a cost-effective way to advertise? All I know is YouTube, FaceBook and Google. What about Flyers though...
3.) How much capital do I need to start?
4.) Do you think giving some of my revenue to charities is a good way of advertising?
If you could help me I will make sure to give you a free membership at my site (if I manage).
This idea's problems
Very good question. Good thing you are asking aloud. Just go to the market and do a year worth of reconnaissance work. All your questions would be answered. For example go to IOS APP store and type "chess", and see what is arleady there.
You are over thinking.
Who is your audience.
What to you give them that no one else can give them
what do they give you and how much they appreciate you.
This is a case called thinking in a vacuum or thinking in a fog. to succeed, you need to go to a market, and your customer needs to go the market. And you exchange benefits - you give them the experience and they give you money. The hardest part of business is 2.
If you don't write the APP, would you ask (1)Miff Zuckerberg; (2) A programmer in China or (3) or a Programmer in Vietnam to write it for you?
How do you sell the APP is even harder than making the APP, 5-9 times harder. You need skills to build the APP, but you need money to sell the APP.
Hope this helps you. https://www.youtube.com/watch?v=95ukYMfCnHA&t=51s
Some suggestions on improving it
It is a good idea, there is SURELY going to be business. First, learn to code. Second, investigate the market.
When you find a target audience group, you figure out what they might value, and you write/build something for them. If they like it, they MIGHT pay you and you go from there. You need a business design to get them to pay, because you can not afford to give for free. But whether they pay or not IS THIS DECISION, not your. So you need to provide them with stuff they VALUE.