How Virtual Reality Saves Startup Costs

As a business owner, thinking about ways to save money is crucial. Saving money can bring many benefits, whether you're a startup or an established business. The budget can reward your staff, improve your equipment and market your business. Your future financial stability will be evident. VR is a new way to save money for your company.

Virtual Reality technology is constantly improving, and you are soon able to save money. Although it may seem costly upfront, the long-term investment will provide a great return on your investment and transform your business model.

These are the top ways virtual reality can help your business save money.

1. Business travel discounts

Business travel can be costly. From flights and accommodations to meals and bills, the costs may quickly add up. VR eliminates the need for all of this. Instead of flying to another country to attend a meeting or conference, simply put on a headset. You can reap the same benefits and personal experiences that face-to-face meetings provide, without any of the drawbacks. You save even more money by attending through VR because you don't have as much downtime away from the office.

2. It enables easier decision making

Virtual reality allows you to plan and execute your business plan more efficiently, which can help reduce your company's costs. Virtual prototyping will enable you to identify problems with new products or buildings before spending much money on development. Virtual prototyping allows you to see the product in action and make changes such as color and material. No matter where you are located, you can quickly get opinions from others.

3. You save on training costs

Training employees can be costly. You will need to rent space and possibly take time off your day to train them. VR allows people to put their heads on and be instantly placed in a real-life situation. Training multiple employees simultaneously is possible. There are no venue restrictions, and employees can schedule the training around their work day. They will not need to take as much time off work, and they won't have to claim for travel and food expenses.

4. Facilitates communication with clients

You spend more money if your business takes longer. You can reduce the time it takes for a product/service to launch or be approved by the regulator, and you will start making more money and cutting down on costs. Virtual reality allows you to work seamlessly with clients and collaborate in real time. You don't have to wait for emails to be answered, explain complicated concepts over the phone, or deal with the impersonality of a zoom call. It's easy to show your designs and take clients on walk-throughs. You can also give your clients updated visual aids. You don't have to arrange a time and travel time to meet clients.

5. Spaces Saved

Showrooms and shop spaces can be costly if your business sells large quantities of products. This not only means that you will have to pay higher rent but also require you to buy more products to fill the space and hire more people. You also need to pay more bills like heating and electricity. Virtual reality allows you to display your products in a virtual shop or showroom. This will enable you to save on all costs and is more attractive to potential buyers.

Virtual reality can transform many industries, such as interior design and architecture. Therefore, it is a tool every designer should have. Virtual reality allows clients to be immersed in the design process, which can help to increase engagement, speed up design processes, and reduce unnecessary meetings. However, many professionals are still hesitant to invest in VR because they believe it is too expensive and cannot be justified by the high startup costs.

While virtual reality can be time-consuming and costly to use, it is possible to save both time and money by using VR. The technology can help designers communicate with clients more effectively and as an iteration tool.

How can VR help? Today we will be discussing 3 key VR benefits that will allow you to work smarter and get the most from your time and resources. Let's dive in.

1. Solutions

Floor plans, 2D renderings, and physical models are just a few standard visual tools industry professionals use to convey your vision. These visualization tools should be included in any pitch or presentation to help clients understand your direction and sell your design idea. Each visualization method plays a vital role in helping to illuminate certain aspects of your design. However, each can only show much, especially finding and solving design problems.

Virtual reality allows us to experience space from the inside. This technology is different from traditional visualization methods. Before VR, sightlines and other obscurities could not be seen until the area was constructed. These minor oversights will add pressure to the budget and project deadline. This can lead to more time being spent back and forth, delays in construction, and even overspending.

Virtual reality allows you to see spaces from all angles and creates the illusion of a building. VR will likely cost less than you expect, mainly if you use mobile VR tools like Yulio. You can not only access a variety of enhancement tools for clients, but you also can virtually tour your design and inspect any potential problems. Virtual reality lets you see what you get and increases your chances of identifying problems before they are built. These issues can be predicted before they are created.

2. Travel to fewer face-to-face meetings

Travel less face-to-face meetings are a great way to work with clients. However, it is sometimes not practical. Sometimes, it is impossible to meet face-to-face with clients because their offices may be far away. Anyone working with high-touch clients knows that traveling to meet them can be more than an inconvenience.

While virtual reality cannot replace human interaction, we can reduce the number of unnecessary touchpoints. You can send the link to your client's project via online VR tools for additional feedback, comments, and revisions. This will save you time and money, as your clients can easily access the link from their homes or office to make informed design decisions. Virtual reality is accessible and adaptable regardless of location, so your clients can bring your designs to them wherever they may be.

Yulio users have reduced their client visits by around 50%. The best thing about virtual reality is that it communicates your vision so clearly that clients can continue to keep up to date, including as a part of the design process.

3. Reduce the time it takes to collaborate

Non-VR users often believe that virtual reality is too restrictive because one person can only use it. Current VR headset technology is limited in its ability to support only one person at a given time. However, the experience doesn't need to be.

We knew that a lack of client engagement would be a significant barrier to those who want to use VR in a business setting. Having the right tools and channels is crucial, especially for commercial designers who need designer-client solid relationships. Collaborate allows you to meet with clients and collaborate with them in the context of your VR projects.

Collaboration within a VR project has many benefits. You can exchange ideas and get real-time feedback from your clients on your design. You can do this in a way that your clients will instantly be able to understand your design. Traditional visualizations such as floor plans can be challenging for those without a background in design. Some of our users shared that they had found clients who struggled to understand the spatial relationships between different parts of their plans before using VR. Virtual reality makes it much easier to make design decisions. Previously, it took hours, if not days, to decide on certain elements. VR cuts down the time to do this to seconds. You can let them see and feel your design more than you need to talk.

VR – An ROI Driver

Yulio calls VR an ROI driver. This is because clients will be able to experience your design and reduce the time it takes to complete it. In addition, it gives clients more confidence and helps prevent late-stage changes. All this is possible by eliminating ambiguity in your conversations and communicating clearly and efficiently. As a result, your team will be able to use their time more effectively, plan, and take advantage of the power of VR to see the future.

Sources: 

https://rubygarage.org/blog/virtual-reality-in-real-estate

https://www.techadvisory.org/2021/05/ways-virtual-reality-saves-businesses-time-and-money-2/