We also took it further by analyzing and drafting a sample dating site marketing plan backed up by actionable guerrilla marketing ideas for dating websites. 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.
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.
Interesting Statistics About the Online Dating Industry 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. Starting a Dating Site from Scratch — Market Feasibility Research Demographics and Psychographics 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. Online dating is also relatively popular among the college-educated, as well as among urban and suburban residents.
List of Niche ideas in the Online Dating Industry 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.
Dating site based on books Dating site based on Religion Dating site based on Ethnicity Dating site based on Race Dating site based on Geographic location Dating site based on Broad interests fans of video games, novels, music, etc.
Level of Competition in the Online Dating Industry 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. List of Well-known Brands in the Online Dating Industry 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. Personals — Owned by Yahoo Inc.
Zoosk — Owned by Zoosk Inc. Economic analysis 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. 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. Differentiating yourself from competing online dating services Naming your online dating service Securing the permits needed in your state to operate a service business Buying a platform to run your dating service Purchasing a domain name from a domain registrar Developing incentives for people to join your dating site Developing incentives for people to join your dating site Starting a Dating Site from Scratch — Legal aspect Best legal entity for a dating site 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 Limited liability-: 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. 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. Flexible number of members-: 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.
Corporations or partnerships can be members-: This also translates into expanding the ability of an LLC to fund the operation or current and upcoming projects. LLC can have a management group-: 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. Here are some of them; Fresh Love.