How to Write an Online Dating Business Plan - Sample and Template from OGScapital
situations rings true for people you know, consider starting a dating services business that helps people Come up with a list of services you plan to offer. Do you want to start a speed dating company from scratch? Or you need a sample speed dating service business plan template? If YES, then i advice you read. One-third of all couples met through online dating, and 1 in 5 people found love Only 1% of dating services survive, so have a clear business plan in place.
Direct mail is a prime form of marketing the MatchMate name and service. Inexpensive post cards outlining the advantages of this unique form of matchmaking are sent to singles in a targeted community. Mail lists can be obtained from list brokers or lists can be cross-referenced from business or client lists the owner has accumulated.
Lists can be developed by driving through upscale apartment complexes, recording apartment building numbers and individual apartment numbers, then sending a mailer marked "resident" to each person. It isn't necessary to know the name of the occupant. Some indicators suggest that upper-end town homes and apartments actually hold the bulk of the singles population in most communities.
The marketing pieces go directly to the occupant and can be passed along to family and friends. Discount coupons are incorporated so occupants feel they are getting a better price and are more apt to join.How To Start A Dating Site - Online Business Ideas & Work From Home Jobs That Make Money Online
Each piece is marked with a two-week coupon mandating an immediate response. Pundits of advertising report that the wise advertiser "hits" the prospect with material three times. The MatchMate business plan includes second and third mailers to prospects who did not join the service after requesting information. The "Summer Special" compensates for the slower registration rate that traditionally occurs during summer months, when singles are either on vacation or more socially active.
The name and address of every single who inquired about the service is entered into a master mailing list for future use. No lead is considered "dead" until that person has received at least three "hits. The format used is partially a survey to determine how and where singles connect and partially an information builder. The script asks five questions and leads the prospect to agree to receive information. Informal presentations provide valuable information and encourage singles to participate without sales pressure.
The letter explains how the service operates—by matching key, holistic elements of compatibility—and that it was designed by a certified professional. Many referrals come from therapists who have urged their clients to pursue relationships in a more realistic and logical manner than random dating offers. Free or nominally-priced educational seminars offered to the public using the video "Myths about Love," by founder Susan Hamilton, is also an effective marketing tool. Corporate research indicates that singles are hungry for specific information on how to meet and how to select the appropriate partner.
This minute video answers the most frequently asked questions and, although generic, is a subtle promotion of the MatchMate system.
Hamilton is available by phone for a question-and-answer period following the presentation. If the owner is using a hotel meeting room for the seminar, it is suggested that a speaker phone be placed in the room for Ms. Hamilton to address the audience. A minute audio tape is provided to all owners. This master can be duplicated at the owner's expense and mailed to prospective clients along with the brochure and application form.
The tape answers the most frequently asked questions about the service and provides background information on how and why it functions so accurately. The advantage to the tape is that if the prospect isn't interested, perhaps they will give the tape to another single friend, making it an automatic distribution tool. Owners are instructed to shop the competition by researching local Yellow Pages. By calling these companies and requesting printed information and speaking to sales staff, owners can get an overview of services and costs.
The competition will not quote prices over the phone, which is a disadvantage to the wise arm-chair shopper. To get prices from these companies you must schedule an appointment, visit a local office, and sit through a long sales presentation.
Your credit card information, occupation, social security number, salary, assets, and other personal data will be reviewed. MatchMate clients relish the fact that they can participate by mail, fax, or E-mail, saving them valuable time and producing equal or better results at a fraction of the price.
The major competition relies primarily on direct-mail advertising to reach clients. They also use TV infomercials and radio advertising at a considerable expense, and often these costs are not absorbed by the sale of memberships. The trend for these companies is more and more toward direct-mail, where the profit margin is greater.
Dream Mates uses the approach that the computer is not a personalized method for finding romance. They claim their approach is done by manual screening. Our rebuttal is that they make mistakes due to human error or deliberate oversight of data when they match clients by hand. The use of manual labor also requires more staff hours and that expense is passed on to the consumer.
Couples Alone claims to use a computer, but the software is nothing more than a data base catalog program that doesn't have internal weighting systems, nor does it match and cross-match. Many clients who have joined Couples Alone report that they were mismatched in critical areas, implying that the company either does not use its computer system or its system is highly inaccurate. Singles Syndicate does not use computer matching, but offers a three-tiered membership plan of social gatherings of varying degrees of frequency, depending on which plan a member selects.
Their fees are less than the other companies, but they have few locations nationally. Rather than formal matchmaking, the matches are made informally at social gatherings. MatchMate's research indicates that these social gatherings have limited appeal to the average client over time. Members are less likely to rejoin after their initial membership.
They feel like they've met everyone and renewal is pointless. With the MatchMate system, volume registration is the key. Each member meets so many new matches each month that renewal is a favored option. MatchMate has also determined that these social functions, if presented properly, are expensive affairs that cut into profits.
Our theory is to do one thing and to do it the best. Leave the social gatherings to other types of singles businesses. It has been our experience that social functions do not make for high profits, take considerable time to develop, cost many dollars in organizational manpower, and lead to going out of business faster than other services do. These three competitors have all made the news due to lawsuits filed by disgruntled members of franchisees. One was sued for price gouging.
The suit is pending. Another is currently fighting multiple-member suits for violation of trade regulations and by its franchisees for fraud.
The other has been sued by the family of a woman who was murdered by a client she met via the service. Former members of one service were so outraged that they formed an organization for the purpose of class action suits and mutual support. Clearly, these companies are doing something wrong to incur this much legal action. Neither MatchMate nor any of its licensees have ever been sued, nor was a lawsuit ever attempted.
All issues of dissatisfaction, some of which are inevitable in any business, have been resolved satisfactorily. The MatchMate reputation for reasonably-priced service, fair resolution of disputes, and quality service remains unblemished. Hamilton is a relationship counselor, free-lance writer, and lecturer. She has held numerous administrative social work positions with charitable agencies in Massachusetts and California.
She is a recipient of a Commissioner's award for Excellence in Community Service. She is the author of feature articles in numerous national magazines, a frequent radio and TV talk show guest, and is recognized as a leading expert of computer matchmaking by industry associations.
She is the president of MatchMate, Inc. She also provides Enhanced Services to members who desire the personalized, one-to-one matchmaking service. Hamilton is a computer and Internet consultant and a free-lance technical writer.
He holds a Master's in Education from Dalhousie University. He taught mathematics for several years before being recruited by a major computer firm to teach computer programming. Hamilton has held positions in Fortune and companies. His software design of the MatchMate system is technically unparalleled.
He is the vice president of MatchMate, Inc. He is also responsible for Internet Marketing and Development. Cheryl Smith is Executive Administrative Assistant. She is in charge of data processing, employees, outside sales representatives, and client support.
Second, to continue to sell licensed business opportunities to entrepreneurs around the globe. We fully expect to hold and continue our growth as the world's largest matchmaking service. As the availability of zones in the USA and Canada diminishes, the corporate goals will focus on the sale of international zones and the addition of personals for individual countries. In addition to growth-oriented goals, MatchMate, Inc.
Due to the rising number of complaints from singles in this state who have been defrauded by other services, we feel that we are the obvious change agents in this state. We hope to be able to start a grass-roots movement that will result in the passage of similar bills in other states, or federally mandated guidelines. Given the current trend toward both federal and state deregulation, this goal may require more singles to speak out against the companies who have mistreated and defrauded them.
How to Open a Dating Service Business
Efforts to achieve this goal are currently underway. On the technical front, our goals include the development and addition of interactive multi-media capabilities so that singles can see videos and hear the voices of those with whom they have been matched on the Internet. While the technology is available, very few users have the necessary equipment to enjoy these more advanced services. At that time, we will make them available.
MatchMate's future plans also include making the Advice Forum pages interactive and presenting seminars on topics of interest to singles.
But you must be very creative and people should be able to connect with like — minds if you must make money from this type of business. Here are few tips that will guide you to start your own speed dating business in any location of your choice, and then position the business to become profitable within a short time frame; Starting a Speed Dating Service — Sample Business Plan Template 1.
Starting a Speed Dating Service - Sample Business Plan Template
Conduct Your Survey The only reason why you must start a speed dating business in your area is only if you have enough singles in the area.
What is the use of starting a speed dating business in an area with very little numbers of singles who are ready and looking for relationships?
When you are distributing your questionnaire, ensure that you distribute it to the kind of singles that you would want to work with.
Develop Your Plans and Strategies Part of what you need to do if you want to start your own speed dating business is to develop a plan that will enable you attract singles that are ready for relationships and also events that will keep them coming and create enabling environment for people to hook up with little or no stress.
Rent a Meeting Venue and Set Time and Date for Meetings Before sending out invitations to singles to attend your event, you are expected to first of all sort out all the logistics that will enable you have a fantastic event. Hence, you are expected to go around town to rent a decent place perhaps a hotel or a beach front where singles can feel free to mingle and relate with other singles. Of course, you are expected to fund the first outing from your pocket.
So going forward, you need to look for means of generating money from the people that attends your single meetings or create a membership package that will require single to register before attending your single networking events.
Send out Invitations to Singles around You Once you have been able to lock down a venue for your singles networking event, you can then send out invites to singles around you.
Starting a Matchmaking Service Business
You are expected to take a note book and then list all the names and contacts of singles in your area. You can start with friends on your phone book and also on your social network contact list. You can as well tell your friends to invite their friends that are still single and are ready for relationship. Develop Different Level of Membership One of the ways of generating money from this type of business is to develop different levels of membership for singles in your speed dating business.