How to Start Your Own Business in BitLife

In BitLife, you can do whatever you want, including starting your own business. There are a number of businesses from several distinct industries you can choose and of course, each sector will require you to do different things. Depending on your preferences, you can start your business in a fast food restaurant to a high-end fashion level.

If you want to start your own business in BitLife, but you don’t know yet how to start. No worries! This post will show you the guide to start your own business in easy ways. Okay, let’s dive into our post to find the guide!

How to Start Your Own Business in BitLife

Starting Your Own Business in BitLife, Here’s How!

BitLife brought Business Update to the game that allows you to have their own business. You can start your own business by selecting one of the industries as they want. To start a business in BitLife, you may need a certain amount of money and make sure you have purchased the Business Job Pack from the in-game store.

After you have obtained the Business Job Pack, you should spend sufficient money on your character. Well, the amount you must have depends on the business you want to start. However, every business will cost hundreds of thousands of dollars, so, you should have at least $1,000,000 for a great startup.

To start your own business, make sure you start a new life and work your way through Business School. If you have enough money to start your own business, you can tap on the ‘Job’ button on the main screen. Then, do the following steps:

  • First, you need to go to the ‘Special Careers’ section and then click on the ‘Business’ tab.
    o to the ‘Special Careers’
  • If you don’t have Boss Mode, you need to purchase the Business Job Pack first.
    purchase the Business Job Pack first
  • After that, you should select ‘Startup’ to start your own business or acquire if you want to purchase an existing one.
    select ‘Startup’ to start your own business
  • In the following page, you need to select your industry and check the demand meter to project its success.
    select your industry
  • You also need to set your initial investment and then tap on ‘Start my business’.
    Set your initial investment and tap on Start my business.
  • Make sure to pick the name for your business and tap on ‘Select Name’.
    Make sure to pick the name for your business

Congratulations! You successfully start your own business in BitLife. Now, you are the CEO and have to start your own business by deciding how much of a salary to pay yourself. For more information, a modest amount is a great idea to start, since you will only have limited capital.

How to Manage Your Own Business?

After starting your own business in BitLife, you should then manage your business as well as possible. You can start by introducing a new product line and it’s a great idea for you to take market research first. It may be a great idea to launch your product if the demand is high and the competition is low.

Then, you should edit your production plan for the new product that covers the fixed cost, retail price, marketing cost and production. Make sure to always take notice of your overall capital and avoid investing too much in a single product launch.

You also need to ensure your fixed and marketing costs do not exceed your price per unit. Your estimated profit will be gained by the price per unit minus the total of the fixed cost plus marketing cost times production. If you have to reduce your fixed costs, you will have to adjust your supplier.

Here’s the formula to determine the estimated profit:

Profit = [Price per unit – (Fixed Cost + Marketing Cost)]*Production

You can then supervise your own business’s performance after it runs for one year. Make sure to repeat the process and launch a few different product lines. It’s important to note, you should treat your employees well by recognizing their efforts and giving them bonuses as the time is right.

To manage your own business, you can go into your ‘Job’ tab and tap on your business and manage it. If necessary, you can hire new employees and keep their morale high by complimenting them and giving them bonuses.

To expand your business, you can set up new locations and launch new product lines. Make sure to keep an eye on your Annual Reports to trace your business’ performance and profitability.

You may need to keep your business cruising and get a valuation and sell the company for a healthy profit when you get your business running like a well-oiled machine. Furthermore, selling your company is such a perfect and promising way to get the extra bucks in BitLife.

How to Keep Your Own Business in BitLife Successful ?

If you want to get good at running your own business in BitLife, you may need to take some tips and tricks that we will show for you below. Of course, you can do the following tips and tricks to get good at running your own business. Here are they:

  • Don’t panic and give up if you lose inventory from natural disasters. Even though it negatively impacts your business, it does not result in an automatic bankruptcy, unless you also have a significant loss.
  • Make sure to recognize your employees to increase their morale and improve overall business performance, making it an important part of worker interaction. Keep in mind, increasing pay and performing team-based activities will give larger boosts, making them highly competent employees.
  • Try to open more stores to sell more products when you start having profitable years.
  • Look for more affordable, higher-quality suppliers to reduce fixed costs. Even if the difference is a few cents, however, it will make a massive difference especially if you produce millions of products annually.

List of Types of Businesses in BitLife

In BitLife, there are some types of business you can choose, here are they:

  • Adult Toys
  • Beauty Supplies
  • Brewery
  • Car Manufacturer
  • Clothing Outlet
  • Coffeehouse
  • Consumer Electronics
  • Dairy Farm
  • Distillery
  • Food Truck
  • Footwear
  • Gift Shop
  • Health Food Store
  • Jewelry
  • Kitchenware
  • Lingerie Boutique
  • Musical Instruments
  • Novelty
  • Pet Supply
  • Pharmaceutical
  • Robotics
  • Semiconductor
  • Sporting Goods

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