BitLife players can now start a new business from scratch or purchase an existing business if they have enough money.
Will you try to make all the right choices in an attempt to become a model citizen or attempt to break all the rules in this exciting mobile game, BitLife?
Since it is a simulation game, you have control over everything your character does, including their relationships, careers, how much they study in school, and the car that they drive.
The game received a 2022 update, which added various new jobs to it. If you purchase the job pack, you can take control of or start up your own business.
Before running a business in BitLife, you need to understand business terms. The balance sheet of your business indicates the company’s finances, and payroll is the amount of money you pay your employees.
Available capital is the money that you can spend to build your business and a fiscal report outlines how well your company did that year. It is crucial that you understand these terms, as confusing them can result in an unsuccessful business.
BitLife: Business update
To start out as a businessman in BitLife, you need a lot of capital. Even if you just want to start a simple food truck, you will require a lot of money. The easiest way to start a business is to use a legacy character who has inherited a huge fortune.
Alternatively, you can use a character who had a professional athletics, music, or acting career as they tend to make the most money in the game.
If you have a lot of capital, you need to decide whether you want to start a new company, or you can acquire an established company. A startup company is the cheaper option, but the chances of the business failing are higher.
After starting a new business, you need to keep an eye on the Demand bar. If the bar is green and at least 80 percent full, your chances of revenue are increased. But if the bar is orange or red, you may not have enough customers.
You should also keep an eye on the competition bar, which will pop up when you need to make a purchase. If the bar is orange or red, it means that you are losing customers due to the number of competitors you have.
However, a green bar indicates that there are not many firms in the industry. You should therefore look for a business with the best combination of high demand and low competition.
Acquiring a business
The principles of demand and competition apply when you are taking over an existing business.
Although purchasing an existing business is more expensive than starting one from scratch, the advantage here is that you could end up inheriting a very successful business.
However, it is also possible that you will purchase a company that has seen better days. Unfortunately, you cannot view the details of a business before purchasing it, so it is impossible to know the state of the business beforehand.
Running a successful business
In order to ensure that your business is a success in BitLife, you need to focus on a market with high demand and low competition.
Although competition is not a large factor, it can influence your sales, especially if you are not investing a lot of money into marketing.
After creating a business, you need to create a product line and for this you need to do market research. Once you know which product to sell, you can start making revenue.
However, revenue is not the only thing that determines a business’ success. You need to interact and engage with your employees to increase your workers’ competency and morale.
General tips for running a business
Since it is a life-simulation game, natural disasters can occur. However, you should not panic if you lose inventory due to a natural disaster. Although natural disasters can negatively influence your business, they do not necessarily result in bankruptcy.
You have to pay attention to your workers. Recognizing workers is a free way to increase morale and improve overall business performance. That being said, increasing salaries and doing team-based activities will result in larger boosts.
When you have profitable years, we recommend that you open more stores to sell more products.
Furthermore, you have to look for affordable, higher-quality supplies to decrease fixed costs. Even if the difference is a few cents, it can make a massive difference.