How to Open a Dating Service Business

Monday, March 2, 2015

How to Open a Dating Service Business

Dating is a part of human mating process whereby two people meet socially for companionship, beyond the level of friendship, or with the aim of each assessing the other's suitability as a partner in an intimate relationship or marriage. It can be a form of courtship consisting of social activities done by the couple. While the term has several meanings, it usually refers to the act of meeting and engaging in some mutually agreed upon social activity in public, together, as a couple. The protocols and practices of dating, and the terms used to describe it, vary considerably from country to country and over time. The most common idea is two people trying out a relationship and exploring whether they are compatible by going out together in public as a couple who may or may not yet be having sexual relations. This period of courtship is sometimes seen as a precursor to engagement or marriage. Finding a partner helps many peoples' lives feel complete. Sometimes finding the perfect date means seeking assistance from an experienced matchmaker or relationship expert. If you find that either one of those situations rings true for people you know, consider starting a dating services business that helps people meet potential life partners. You can open and operate this low-cost start-up business from home, if you have a private home office where you can meet with potential clients to discuss their dating needs and preferences.

Things Needed

Matchmaking systems and services

Video dating systems of the 1980s and 1990s especially, where customers gave a performance on (typically VHS) video, which was viewable by other customers, usually in private, in the same facility. Some services would record and play back videos for men and women on alternate days to minimize the chance that customers would meet each other on the street.

Phone dating systems of about the same vintage, where customers call a common voice mail or phone-chat server at a common local phone number, and are connected with other (reputed) singles, and typically charged by the minute as if it were a long-distance call (often a very expensive one). A key problem of such systems was that they were hard to differentiate from a phone porn service or "phone sex" where female operators are paid to arouse male customers and have no intention of ever dating them.

Online dating services are becoming increasingly prevalent worldwide. They charge a fee to enable a user to post a profile of himself or herself, perhaps using video or still images as well as descriptive data and personal preferences for dating, such as age range, hobbies, and so forth. Online dating is a $2 billion per year business, as of 2014, with an annual growth rate of 5%. The industry is dominated by a few large companies, such as EHarmony, Zoosk and InterActiveCorp, or IAC, which owns several brands including Match.com and OKCupid. However new entrants continue to emerge

Dating Service Business Instruction:

Step 1

Research the dating industry to get an idea of the types of services and products these businesses offer to people who are navigating the dating scene. Discover why people date, whether it’s to have fun, enjoy new experiences, make friends, find love or get married.

Step 2

Figure out what your target market is and whether you’ll focus on a specific niche within the dating services industry. You may elect to help recent college graduates find dates with other recent graduates, your business could help women over 50 find dates or you may set up a dating service that targets professional men who own their own businesses. By selecting a niche, or clearly identifying your market, you’ll be able to better target your advertising efforts to recruit clients.

Step 3

Research your local market to see if there are other dating services that target a similar market. Find out what services they offer, where they advertise and their approach to attracting clients. Come up with ways to differentiate yourself, whether through pricing, offering varied services or creating an exciting personality for your dating services business.

Step 4

Come up with a list of services you plan to offer. You might offer matchmaking, provide date night ideas, give coaching on what do and what not do on a first date, assist clients with selecting body-appropriate wardrobes or host speed dating events. Assign a cost to each service you provide; whether you charge per hour or per service, having pricing guidelines is essential.

Step 5

Use your research to come up with a clever, attention-grabbing name for your dating services business. Contact your local Chamber of Commerce to find out if there are special licenses or permits you need before you open your dating services business. Find out how to register your business as a legal entity in your state and get your company registered.

Step 6

Purchase general liability business insurance to protect your company from potential litigation. Every date you set up may not go as planned, and not every client may feel that he got the services he paid for.

Step 7

Set up your private home office in an area of your home that’s away from distraction. If possible, opt for a location that has a private entrance separate from the rest of your home. If you don’t have a home office, lease space in the area you plan to target.

Step 8

Hire a web designer and a graphic design to create marketing pieces for your dating services business. You need a logo, business card template, brochures, a website and a blog, all appropriate to your business. Go for a light-hearted design scheme rather than something ultra-serious.

Step 9

Promote your dating services business to your target market through online and offline advertising. Attend events that your target customers frequent, whether business and networking meetings, the library or coffee shops. Pitch dating stories that include tips and advice to local print publications and blogs to begin positioning yourself as a dating expert.

Tips

Make a list of additional dating offerings to up sell clients, and choose several to incorporate into your dating business for additional fees. These might include one-on-one consultations, wardrobe analysis, etiquette classes or date planning.

Remember to be empathetic with clients, who may be fresh from disastrous relationships or exhausted from the dating scene. Be ready to listen and offer encouragement.

If working in an office, have a wall of photographs of your clients. This helps you see who you are working for and also helps when others looking for love come to you. The visual aid of pictures can help them narrow down the type of person they are searching for.

Make it clear to your clients that you are a dating service committed to helping people find love, not just for sexual encounters.

Warnings

Because many potential clients will first learn about your dating business from the company website, this is no place to cut corners. Purchase the best technology and design talent that you can afford. Customers will use the website to gauge your company’s quality and authenticity, so broken links or shoddy graphics will send them running to a more professional website.

Some clients will be wary about the safety of dating someone they've met online or through a dating service. Consider offering the guarantee that all clients have been screened for criminal records or marital status, and follow through.

The dating business market is already very crowded with highly competitive industry heavyweights pitching to a broad market, according to Dating Site Builder. Online Dating Magazine recommends building your dating business around a niche market.

Do not forget to screen your clients. Make sure you check background records for criminal activity.

Only 1% of dating services survive, so have a clear business plan in place.

References

No comments:

Easy Tips and Ideas to Start Business

Although anyone can start a business, many people fail because of a bad product or improper research. If you want to start your own business, you can improve your chances for success before you even begin. In order to make your business successful, start strong and make sure that your idea will hold out for the long haul.

Have a Good Product

Ensure that you plan to sell something useful. Although you may think that your product is important or special, that doesn't mean the general public will agree. Ask friends, family and strangers what they think of your product. If they don't seem that interested, ask them why. With their suggestions, you can either improve the product or scrap the idea completely. According to Brad Sugars of Entrepreneur magazine, most small businesses fail because they sold a product that didn't have an adequate market. This also applies to small businesses that provide a service. A lawn-care business might be useful for part of the year in a northern state, but it is in-demand year-round in the south. Consider whether people will actually want to use your service and get constructive advice from those not afraid to give their opinion.

Research Local Businesses

Research local companies before starting up your own business. This will not only give you an idea of the amount of competition you will have, but it will also help you price your product or service. If you're looking to start a wedding photography business, you may find during your research that the market is over-saturated in your area. If not over-saturated, you should contact each business and ask them for a price list. Alter your prices so you can stay competitive with the competition in town. Researching similar local businesses will also help you decide where to locate your business location. Try not to start up a store or office close to another business of your type. If your small business is located away from similar business types, this will cause locals to choose you over businesses that are farther away from where they live.

Get Professional Advice

You may know someone who has started their own successful business. Ask him for advice and listen to his stories of how he started his company. You may gain useful advice on the good and bad ways to start a business. Local entrepreneurs can also introduce you to local product providers or advertisers that you may not have met without their help. Accept any advice with open arms, especially if the advice is coming from someone successful in the area.

How to Calculate Business Start Up Costs

Starting a business in no easy endeavor. It takes a great deal of research, perseverance and hard work. While sweat equity will make your small business more successful, you will most likely need real capital to get the business started. Before you start raising capital and/or investing your own funds, the first thing you need to do is determine the total start-up costs.

Step 1

Determine your costs of sales. For most small businesses this means inventory, the cost of raw materials, manufacturing equipment, shipping, packaging, and warehousing. However, not all businesses sell products. In this case, the cost of sales is primarily the direct labor involved in making the sale. For example, to open a small shoe business entails purchasing enough inventory ($10,000) to stock the store.

Step 2

Determine professional fees. Planning your business structure, i.e., limited liability corporation or general partnership, means hiring an attorney. There may also be the need to pay an attorney for help with establishing trademarks, copyrights, and patents. In this scenario, that puts total professional fees at an estimated $20,000.

Step 3

Determine technology costs. Technology can greatly reduce the cost of labor for small business if used effectively. Most small businesses require computers, printers, cell phones, website development, Internet access, software applications, information security, data storage, and outsourced information technology (IT) consulting. If the cost of technology is $10,000 to start, add an additional $5,000 a year for maintenance (hint: maintenance is not included in start-up costs).

Step 4

Determine administrative costs. This varies with business types and may include items such as business insurance, office supplies, product packaging, parking, rent, express shipping, desks, chairs, fax machines, phones, or anything else necessary to operate the business daily. A good estimate for start-up administrative costs would be $5,000 for the first six months.

Step 5

Determine initial sales and marketing costs. Now that you have your product, you need to let folks know about it. Sales and marketing costs generally include marketing materials for presentations, printing stationery, business cards, advertising, trade show events, and public relations. These initial sales and marketing costs can add up to $3,000.

Step 6

Determine the wages and benefits needed to secure a staff. This includes employee salaries, benefits, workers compensation, and payroll taxes. Let's put the cost of wages and benefits estimated at $20,000 for the first three months of business.

Step 7

Add all costs associated with starting the business for a total. Be sure to only include business start-up costs that will be incurred in the first three to six months of operations. For this example, the calculation is: $10,000 + $20,000 + $10,000 + $5,000 + $3,000 + $20,000 = $68,000.

Pages

Monday, March 2, 2015