· The competition is fierce, so the first thing you need to do is to differentiate your business. Select a niche that narrows your focus. For example, instead of a general dating Researching the business plan for your dating business allows you to begin determining its parameters. Decide whether your dating business will feature just online dating, niche · 1. Register a domain name and optionally additional website services you want for your website. The domain name (blogger.com) should be easy to write and remember for Ensure that your speed dating business is listed in online directories as well as yellow pages; Distribute handbills and fliers in several strategic locations so as to create awareness for your ... read more
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About us. Stories of Awesome. Special offers. The dating market in the United States is highly saturated and growth has slowed to the point that is has become non-existent.
It is expected by analysts that only niche areas will continue to do well in the dating industry which is why speed dating services have continued to do well in the industry. As an entrepreneur starting a business, deciding whether to start from scratch or just buy a franchise might look very tough especially if you are new to running a business and have fear that you might be overwhelmed by the whole process.
While each option might have its merits and demerits, it is best to stick with the option that best aligns with your own corporate goals and objectives. If you intend to buy a speed dating franchise, it is very necessary that you study the franchise companies, see what they are offering, what their charges are and if their services will boost your goals and objectives.
Keep in mind that buying a franchise does not mean that your business cannot fail; it just offers you an opportunity to have less start-up challenges. Starting from the scratch is a different ballgame altogether because when you start from the scratch, you must handle several aspects such as finance, management, marketing and all other important areas by yourself. This is why it is usually best to have a comprehensive business plan at hand that will allow you have an outline of your whole business and what you intend to achieve so that should you face challenges during the teething process, you will be able to check with your business plan and see if the action or decision you want to make are in line with your overall corporate goals and objectives.
When starting a business, you should be prepared as an entrepreneur to face threats and challenges that will arise. No one starts a business expecting an easy ride all through and if you are one of such persons that are not prepared for any challenges or threats, then it is best that you do not start the business at all. It is important to note that some challenges and threats cannot be handled and when they occur, the best you can do is wait for them to pass whilst remaining optimistic.
Some of the threats and challenges that you are therefore likely to face during the course of starting your speed dating business are; having to deal with existing speed dating companies, intense competition from alternative dating services, new industry entrant challenges, economic downturn and changing industry trends.
The five legal entities that are available for entrepreneurs looking to start a business in the United States are; sole proprietorship, entrepreneurship, S Corporation, C Corporation and Limited Liability Company LLC. In making the decision as to which legal entity to choose, an entrepreneur will do well to use the following factors as an aid towards making the right decision.
Some of the factors are; liability, ease of ownership and control, taxation structure and flexibility. It is important to note that operating some of the legal entities might vary depending on what state one is operating from, which is why it is necessary to make enquiries regarding the business so as to make the right choice. You can also engage the services of an attorney to help with choosing the right legal entity for your business.
Most entrepreneurs starting their business usually prefer to start off with an LLC because this is a legal entity that offers flexibility and is easy enough to set up and control.
The LLC shields your personal assets as any failure in the business will mean that only the assets of your business are affected. Before registering your business and legalizing it, one aspect which you must take care of is what name to call your business. A business name is important because it is what your business is going to be identified with. When choosing a business name, ensure that it is not only unique and memorable but that it is indicative of the industry that you are going into as this will help clients get to you easily.
When starting any business in the United States, one of the important must-haves is an insurance policy. While not having an insurance policy might not be a punishable offence, it is meant to save you from a whole lot of mistakes and incidents that could occur during the process of starting or running your business. When such incidents occur, paying from your pocket could lead to you wrecking your business financially.
It is best that you set aside a budget and get the insurance policies that you need for your speed dating business. If you are not sure of what insurance policies to get, then you should get in touch with an insurance agent or broker to help you choose the appropriate insurance policies for your business. Below are some of the basic insurance policies that you will need to purchase for your speed dating business;. Most entrepreneurs that apply for intellectual property protection are those that have invented something that they know will be beneficial to the industry they are in but want to earn money from others that will want to use what they have invented.
However, the fact that you are in a service oriented business does not mean that you cannot apply for an IPP over certain areas of your business such as company name, logo, domain name and any other material that is deemed important to your company. The speed dating business is not one that requires the entrepreneur to possess any sort of professional certification before they can start the business.
This is a business that is based on the social skills of the entrepreneur. This does not however mean that entrepreneurs that are looking to get professional certification in certain areas such as management, marketing or accounting cannot do so for the benefit of their business.
When starting any business in the United States, it is important that you make your business legal by having documents in place. The legal documents needed to start a business often varies depending on the kind of business you intend to start, there are however documents that are basic to every business and as an entrepreneur, you should know what documents you will need for your business so that you do not get into trouble with regulated authorities.
Below are some of the basic documents that you will require;. Finance is very important for any business either as a startup or an already existing business and so is not something that can be overlooked.
If you are thinking of starting a business and do not have the necessary finance to start the business, then it is safe to say that your business might not become a reality. One reason why it is important to have a business plan in place is that it allows you to approach private investors and others that might have the finance to support your business. It allows you to show how serious and committed you are to the business as well. Below are some of the financing options that are available to you when looking to start your speed dating business;.
Location is one of the most important aspects when it comes to starting a business and running it successfully. Therefore, it is necessary as an entrepreneur that you chose the right location for your business if you intend to make it a success. One sure way you can quickly know the area that will make your business a success is to conduct a thorough research about your business which will let you know where your target market is and invariably where your business should be. The speed dating business is one that is double edged, for while you can run the administrative part of the business from home, you will need to source for physical venues in which to host events for your clients.
If you are therefore going to be running your business from home, you will still need to source for the right venues for the different parties and events that you will host.
Running the administrative part of your business from a brick and mortar building means that you are trying to be more professional. It might also mean that you are looking to employ more hands to help you with running the business. If you check and see that your closest competitors are all running their business from an office facility, then it is something that you must also do.
If you are going to be renting a facility, then you should ensure that it is in a very conspicuous place that is easily accessible to clients and employees. The facility must also be one that is conducive for your employees.
You might need to conduct certain renovations on the facility in order to meet with certain standards so it is best that you put this into consideration. If you are not too sure of the location where you should site your business, you might need to engage a real estate agent who knows the area well to help you out. It is best that you let the agent know what budget you are looking at so that you do not end up causing a strain on your overall budget. The speed dating business is one that requires the entrepreneur to be a people person and have an engaging personality.
Therefore, if you are looking to start this business purely on the motive of profit, then you must employ or partner with one who has the right personality to draw singles out. Location is very important in this kind of business as choosing the right venue can help boost your brand. To get the best location, you might need to go round your local area in order to identify great places that would be suitable for the events or parties you intend to host.
Some aspects need to be taken care of when getting a venue and they are; knowing if the venue is licensed, finding out about their catering facilities, and checking if the place can accommodate the number of people you are looking to host. Even though this is a service based kind of business, there are still equipment that you would require to help you run your speed dating business efficiently such as computer, phone, office supplies, printer, fax machine and business software.
If you intend to run the business on a large scale, then it is definitely not something that you can run alone, so you must build a solid business structure which will allow you to choose proficient and committed people to work with you in achieving your goals and objectives.
Some of those that you might need to employ for your speed dating business are; Chief Executive Officer, Admin and Human Resource Manager, Logistics Manager, Accountant, Marketing and Business Development Executive, Customer Care Executive and Security Guard. From the above analysis, you will require at least 7 key people to help run your speed dating business successfully. In starting a speed dating business, you must have the enthusiasm necessary with which to run the business as the business is one where you have to interact with people and get them interested enough to attend the events that you will be hosting.
If you are not enthusiastic about the business, you might not be able to get your clients to be excited about it either. You must identify your target market especially in the area you are looking to start your business in.
Start by conducting a thorough market research, and then through the identification of your target market create programs and events that they will be able to identify with. Identifying the venues where the speed dating will occur is very important as you need places that will suit the clients you have at hand.
There are several things you will need to look at for when looking for a facility and they are; if the venue is licensed to serve alcohol, if catering facilities are available and if the venue is close to your target market. In order to be able to generate the needed revenue that will sustain and grow your business, it is essential that you take marketing seriously.
Marketing is a way of anticipating and knowing about the needs of your clients and then ensuring that you meet those needs in the best way possible. When you engage in marketing campaigns for your business, you are not only going to catch the attention of your target market but that of your competitors as well, it is therefore important that your strategies not only allow you to have a fair share of the market but one that also allows you to stand out and have advantage over your competitors.
Before the right marketing strategies can be crafted, it is necessary that you conduct a thorough market survey. This market survey will allow you understand what is expected of you from your potential clients and what you should expect from them as well. Location is a very important component when it comes to marketing a business.
Below are some of the marketing ideas and strategies that you can use effectively for your speed dating business;.
While it is very important to attract customers that will help the business grow and boom, it is more important to ensure that a high number of your clients remain loyal to your brand by patronizing your brand alone. One benefit that customer retention gives is that it enables you spend less than your counterparts that were always attracting new customers all the time.
There are several reasons why a customer might leave a brand for another and as one who must have conducted a thorough research into a business before going into it, you should know what customers in your industry want and how to give them what they want.
Home » Business ideas » Internet Based Industry ». Are you interested in starting a dating site from scratch? If YES, here is a complete guide to starting a dating website with NO money and no experience. Many people patronize online dating sites for their convenience. Such services allow those looking to date the opportunity to meet new people and socialize without needing to leave their homes. Many singles have even found spouses through Internet dating services. Online dating has become one of the leading Internet businesses with a high success rate of not only providing people with relationship matches, but a good return on the investment for the creator of the site.
The tools are there, the hard part is putting together a concept that will attract people as members. The Internet has changed the way we get our news, watch television, read books and shop.
Of course it has changed the way people date. Online dating sites are big business. Not only are they profitable, in , online dating sites were credited with helping set-up over , marriages.
Unknown to many people, these sites typically generate more revenue than online pornography, despite the discovery of occasional scandals. In fact, online dating sites rank as the third most popular compared to other paid content sites that fill Internet.
Digital music and video games are the first and second most popular paid sites. Revenue projections show online dating sites continuing to grow. These projections are based on the continued integration of the digital world into everyday life.
There is more good news ahead when considering that these visitors tend to become members. The single population over the age of 18 in the United States is estimated to be between 92 and million people. Of that number, approximately 16 million have tried online dating services. As more and more singles migrate to free social networking sites, however, the profitability of dating services is narrowing to those services with the best reputations and largest network communities.
One in ten Americans have used an online dating site or mobile dating app themselves, and many people now know someone else who uses online dating or who has found a spouse or long-term partner via online dating. General public attitudes towards online dating have become much more positive in recent years, and social networking sites are now playing a prominent role when it comes to navigating and documenting romantic relationships. Members tend to inflate their yearly salaries by 20 percent or more.
Physical traits are exaggerated or hidden, especially regarding height and weight. Many dating sites allow users to filter their search results based on age, geographic location and education level, but there are very few, if any, dating sites based on these specific criteria. Starting a dating site for specific parts of the country could help people meet who may otherwise miss each other. Another overlooked demographic is older singles. Starting a dating site for singles over 50 could fill a niche that is rarely addressed by other dating sites.
Online dating Web sites are facing ever-increasing pressure due in part to social-networking sites, but lucrative advertising and subscription revenue keep a high number of companies competing in the area. The surges in the popularity of sites such as MySpace and Facebook have drawn attention away from dating Web sites. That has in turn made competition more intense in an already crowded field. There a whole of people who have become successful in the dating site business.
These are people who have recorded some huge level of acceptability in the last years or decades. Some of them include;.
The online Dating Services industry has performed well over the past five years as a growing number of consumers turn to the internet looking for love. The proliferation of broadband internet connections and greater legitimacy surrounding online dating has helped the industry outpace the overall economy and capture a rising share of the consumer dollar.
In the coming years, the percentage of households with access to the internet is projected to continue rising throughout the period, which will expand the consumer market for online dating services… purchase to read more. The industry has a low level of capital intensity, similar to other personal service industries. Capital intensity has remained relatively steady throughout the past five years.
The requirements for setting up an online dating service are relatively minimal. Companies need to invest in computers, software and related equipment as well as a central facility.
Online operators have a higher reliance on capital equipment and, therefore, depreciation tends to be higher for these companies. Buying into a franchise is the best way to start up a dating site business. An existing dating site business will have honed its operations over time.
This means you should inherit a business with streamlined and documented systems. Existing staff often have more of a coalface perspective than the boss — they can provide valuable insight into how the business runs and areas that could be improved.
In such cases, staffs are likely to feel more comfortable communicating their concerns to a new boss, and may be able to suggest ways of solving the problems. Talk to the staff and find out if they are happy in their roles, if there is anything that would help them do their jobs better, and what concerns they might have about a new owner coming in. Starting a dating site business just like any other known business has its own challenges and problems.
A lot of people depend on dating sites to be able to find a companion or love, so when starting your dating site business you must first resolve your own problems before looking to settle the problem of others.
If you hope to start a lucrative and magnanimous dating site business, an LLC is the best legal entity you can ever think of. It is a hybrid business entity having some characteristics of both a corporation and a partnership or a sole proprietorship.
To be specific, the business structure of an LLC combines the pass-through taxation of a partnership or sole proprietorship with the limited liability of a corporation. This legal form of a business can also elect to be taxed as an S corporation, C Corporation, partnership, or sole proprietorship as long as a particular LLC qualifies under the desired tax classification.
Using an LLC legal entity provides you with this few advantages. Owners or members of an LLC have limited liability. This means that unlike in partnerships and sole proprietorships and similar with corporations, they do not assume the risks for any debts or financial obligations and some acts incurred by the dating company.
The amount of money members invest in an LLC does not need to be equal to their percentage of ownership. Percentages of profits and losses can be assigned to owners using an operating agreement.
This also means that an investor can finance half of an LLC without necessarily owning half of the business. There is no double taxation or no need to pay U.
federal tax if an LLC elects to be taxed as a partnership or sole proprietorship. Profits are taxed personally at the members. This is called pass-through taxation. Furthermore, each member of an LLC writes off his or her losses on his or her personal income taxes. Operating an LLC requires less administrative and paperwork. A Limited Liability Company does not hold regular meetings nor issue stock certificates.
Record keeping and auditing the financial statement of an LLC are less tedious depending on the requirements of the members. This is a considerable advantage of an LLC over corporations.
There is no minimum or maximum number of members in an LLC just like a corporation. Another interesting thing to note is that while an LLC can have as many members as desired, most states also allow a sole individual to create and operate his or her own limited liability company. Under U. laws, There is no requirement that members should be entirely individuals legal entities such as corporations or partnerships can be members of an LLC.
This also translates into expanding the ability of an LLC to fund the operation or current and upcoming projects. Members of an LLC are free to hire a management group. Most of the decision-making in partnerships and sole proprietorships are made entire by owners. A limited liability company can hire individuals to form a management group that will run the company. Countless numbers of people have found love, friendship, and business contacts through social networking and internet dating sites.
However, we also hear of the horror stories involving people that are physically harmed. You, the owners of these very profitable websites, should constantly balance the risk vs. the reward of operating your company.
Right now you are trying to mitigate your risk by making your site as safe as possible. This is a great thing, because no one wants your clients to be safe more than you.
Your client loses and you lose. One person gets hurt and it could all be over. Can your company withstand a multi-million dollar lawsuit? Intellectual property rights are a business asset, and are often the most valuable business asset.
Any business presently trading or considering trading on the internet needs to check what intellectual property rights it owns and ensure that it is fully protected. Different types of ideas can be protected in different ways, depending on how they are expressed. This intellectual output and the protection of it is known as intellectual property, a collective term for different types of asset including copyright, trademarks, patents, design rights and others.
These assets are intangible, but can be very valuable since they enjoy legal protection. There will be a number of intellectual property rights which exist in your website. Any logos or branding are likely to be protected by registered trade mark rights or the law of passing off.
There will also be database rights in any database underlying your website. However, most of your website, including the text, design, graphics, data, website layout and any music, broadcasts, software and images on your website, will be protected by copyright. In other to protect your intellectual property in the dating site business you need to do the following.
The business landscape continues to change very quickly, and that constant change brings about plenty of opportunities for entrepreneurs. Additionally, the tools and cost-benefit involved in building and marketing an Online business have become increasingly easier, cheaper and faster than ever.
Researching the business plan for your dating business allows you to begin determining its parameters. Decide whether your dating business will feature just online dating, niche Ensure that your speed dating business is listed in online directories as well as yellow pages; Distribute handbills and fliers in several strategic locations so as to create awareness for your · The competition is fierce, so the first thing you need to do is to differentiate your business. Select a niche that narrows your focus. For example, instead of a general dating · 1. Register a domain name and optionally additional website services you want for your website. The domain name (blogger.com) should be easy to write and remember for ... read more
What are some insider tips for jump starting an online dating consulting business? Websites should always be fluid, giving the impression customers are always placed center-stage in terms of maintaining interest and excitement levels. If however you are looking to run a business that requires you to host events in a physical location, then it is necessary that you study the area you are looking to go into thoroughly to know if it is within the hub of your target market. This does not however mean that entrepreneurs that are looking to get professional certification in certain areas such as management, marketing or accounting cannot do so for the benefit of their business. Do you want to start a speed dating business? August 26, December 14, Marvin Powell Views 2 Comments start dating site. Relationships Dating Love Relationship Issues.You can acquire your EIN for free through the IRS website, via fax, or by mail. Adult Dating. You can acquire your EIN for free through the IRS website, via fax, or by mail. Kashif Moazzam. Follow Us.