We are fast becoming a nation of singles. The well-documented rise in separation and divorce cases is lining the pockets of lawyers and also providing a growing market for the online dating site. According to a report, the majority of people in the UK are single and the online dating industry generates thousands.
Finding love or friendship online is becoming more popular for a generation of people too busy to find a partner. on your own. This adds up to a very satisfying and viable business opportunity that, as an added bonus, can be set up for very little money from home, with just a computer for company.
What is a dating website? ?
The modern dating site is essentially the successor to the dating agencies of old, which matched members through interviews, profiles and special networking events. While the old agencies often did much of the searching for their members, meeting with new clients before handpicking their potential matches, the modern site allows users to do all the work, searching a database of other members and organizing meetings themselves.
In addition to established market leaders match.com and US-based eHarmony, the online dating industry comprises a number of niche sites , including FitnessSingles for health and fitness fanatics, Lovestruck for busy professionals around town, and Uniform Singles. , which is designed for people in the military and emergency services, and those with a uniform fetish.
Julian Keenaghan is the founder of one such niche site, Tastebuds, which brings users together according to your musical tastes. He believes there is still a lot of potential in the market.
“In addition to the major players, there are many companies, like us, that offer a niche offering. It’s a very exciting place to be, and we’re still far from saturation point.”
Key Features
The cornerstone of a site online dating is the search function, whereby users enter a variety of search criteria, including age, income, physical characteristics, and geographic location, and the site displays a list of people based on those preferences. The initial search is often provided free of charge; according to a report published last year, only about 15% of users pay for their time on online dating sites.
Once the user has reviewed the search results and identified potential love interests Most of the sites allow you to email your potential matches or talk to them via instant messaging; they will almost certainly have to pay for this service. match.com allows its users to ‘wink’ other members to show interest, and several sites offer a similar ‘teaser’ feature.
Is Running an Online Dating Business Right for You?
If you want to set up a prototype dating site, you can probably get by without great IT and web development skills. Resources like DIY Dating allow interested parties to set up a basic website quickly and cheaply, and you can get involved too. the services of a specialized web developer.
However, as time goes on, you will need to update the site regularly and potential investors will not be impressed if you don’t. I don’t understand the software your product is based on. So in the long run, an online dating business definitely favors people with IT and website building experience.
You’ll also need to be the type of person who understands what members will want. You have to be able to put yourself in the user’s place; What will they be looking for on your dating site? What kind of search options will they require? And if they’re a bit self-conscious, what kinds of features will ensure they feel comfortable chatting online with complete strangers?
As a site owner, it’s unlikely you’ll be speaking directly to members. ; however, you still need to be able to empathize with them and maintain a subtle, understated tone. Some members may have been injured in the past; others may lack confidence. You need to be able to create a welcoming, non-judgmental environment that allows users to express themselves.
Julian says, “Social skills help to a certain extent. We have to be aware of the people who are going to use it from the other side, the kind of concerns that they have, that they want to portray themselves in a good light. You’re not totally remote from the end user.”
Setting Up Your Dating Website
There are few physical requirements to setting up a dating website – all you really need is a computer . .
However, as mentioned, building the website will likely require the support of an experienced web builder, and you may also need to outsource basic functions such as e-commerce, instant messaging, moderation and spam detection. Then, when the site is live, you’ll need a web hosting company to manage it for you.
You’ll also need to do a lot of market research before launching the site.You may think you’ve found the perfect niche, but a Google search may find that someone else has gotten there before you. It’s also worth going out and talking to people to ask if they’d be interested in your site – singles nights and even street voice chats could provide great forums.
To promote the business, you can want to place advertisements on Yell.com, or specialized Internet sites relevant to your target audience; If, like Julian Keenaghan, you want to set up a music-based site, you can place an ad on a music fan site. If you prefer print advertising, local newspapers can be a great place to start, especially if your site is based in a particular geographic area.
If budgets are tight and you want some profitable advertising, try organizing a coming-out night for singles or submit a press release. Simply issuing a release on Response Source or PR Wire could provide coverage in many different places, free of charge. Contact the local newspapers if you are focused on the local area. In addition, social media is also a free and easy way to promote awareness.
It’s a bit of a chicken and egg situation, because no one will want to use the site if there aren’t people there. It’s worth offering a free trial for a fairly long period, maybe six months, for early adopters.
Rules and Regulations for Running a Dating Site
Anyone can run a dating site site – it would be very possible to launch one tomorrow. You don’t need a license, you’re not required to meet or vet your clients, and once you’ve established your agency, there are no legal checks on how it’s run, although many of the biggest names in the dating sphere, such as match .com, are starting to run background checks on new members as a goodwill gesture to existing users.
There is a trade association, the Association of British Introductory Agencies (ABIA), to which which can join but is not required. Having said that, you can get support and advice from the association and membership will give your clients confidence.
To become a member of ABIA, you must adhere to a strict code of practice, which you can then show to anyone prospective client before entering into an agreement. The code spells out what is expected of both the client and the agency (in terms of handling data, advertising and complaints) so that everyone is fully informed from the start.
How much will it cost to set up an agency business? online dating?
A hosted website will likely have a one-time setup cost, as well as credit card processing fees on each transaction and a monthly rental fee. Check the details of your web hosting site carefully; many will charge more in monthly rental fee the more members you have.
In addition to the cost of hosting, you should also think about design fees. Julian says that “for us, the total cost to build the site has been between £3,000 and £4,000, which includes a £1,500 design fee. However, we have been lucky, as we have had many friends who have helped us.”
You will also need to register your domain name, and since you will be handling data, it is good practice to join the Registry of data controllers, which costs £35 per year.
How much can I earn from running a dating website?
There are two main income streams for online dating sites : member subscriptions and advertising. In both cases, the money you make will depend on the number of clients you sign up, and it can be profitable to offer free trials to early adopters who express interest.
A number of UK dating agencies use larger ones have chosen to launch limited-time offers and discounts to increase their member base; For example, Match.com members receive a free one-month subscription if they haven’t “found love” within six months, while new Dating Direct subscribers receive an unlimited three-day subscription for free.
Forms of charge vary; many sites maintain a sliding scale of payments, rewarding members who commit to a long subscription period. Match.com, for example, offers one-month, three-month, six-month, and 12-month packages. Dating sites usually offer the one-month package at a more expensive price than the 12-month plan, so there is a clear incentive for visitors to sign up for a long-term subscription.
Most sites will offer visitors the opportunity to make a single payment for the entire membership period, or break it down into monthly direct debits. For you, the business owner, lump sum payments may be preferable because they guarantee 100% money up front. However, this may not sit well with all of your customers and ultimately it is their wishes that count.
Seasons and sectors
The How much you can charge for your dating service will depend on the demographic you are targeting.As a general rule, if you provide an executive service for professionals only, you will be able to charge a substantial amount; conversely, a music-based site like Tastebuds may appeal to a younger audience, so a lower fee scale may be necessary.
It’s also possible that the business be subject to seasonal fluctuations. The last week of December through the third week of February is typically the biggest for online dating, so you may see a flurry of activity during this period, followed by a steep lull afterwards.
Overall
Ultimately, the amount of money you make from a dating site depends on your ambitions. Certainly if you start to think about expansion, you will have to move from the home office to the premises. However, the most important thing is your attitude towards your customers. A high level of customer support, providing constant contact and genuine empathy, will be your best path to success.
So if you feel love in the air and have the heart to do it, a dating site could be the business for you.
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