Table of Content

    Do you want to start a Dating services business plan?

    Do you want to start a dating services business? The business is a great choice as the demand for dating services doesn’t go away. You also don’t need to worry about any specializations or qualifications for starting this business. You can also start the business at a small scale as you only need a business plan internet dating service

    Even though this business is straightforward, you will still need to organize everything to learn how to start a dating agency business The best thing for managing everything is to write up a business plan. For this, you can take help from business plan experts, or you can look at other business plans such as online retailer business plan Here, we have provided all the necessary details of Connect.

    Executive Summary

    2.1 The Business

    Connect will be a dating service startup owned and started by Gillian Flynn. The service will be aimed at the single community of the New Orleans area. It will offer various services ranging from socialization events to specific data-based matches to its clients.

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    2.2 Management of Dating Services Company

    To make sure that your business is properly managed, you need a well-thought-out business business plan for a dating service In your online dating business plan, you should consider all the resources that you possess and how to utilize them to start online dating service business This will help you in maintaining your business and preventing loss.

    In this mobile startup business plan, we are detailing everything needed to organize and start a business. You can use this business plan as a reference or something similar like an online shopping site business plan.

    2.3 Customers of Dating Services Company

    Connect will cater to all types of social circles and ethnicities. Its customers will belong to different types of work domains. However, some of the primary customer groups are as follows:

    • Bachelors and Bachelorettes
    • Divorced People
    • Widows/Widowers
    • Investors

    2.4 Business Target

    The target of Connect is to become a safe and reliable way for people to meet each other, so they don’t have to face any issues.

    The financial targets the business wants to achieve within the first four years are demonstrated below:

    Dating Services - 3 Years Profit Forecast

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    Company Summary

    3.1 Company Owner

    Gillian Flynn will be the owner and manager of Connect. He finished his bachelor’s three years ago, after which he climbed the management ladder of a social service business. However, he also wanted to start his own business. So, he decided to use his experience to start the dating service Connect.

    3.2 Why the Dating services company is being started

    Gillian noticed that there were not a lot of safe options for people to meet each other. And whatever options there were, they were all very sparse. There, he saw the potential to solve the problem. So he decided to bring innovation to the field and develop an app and a service for this purpose. The result of the effort was Connect, designed to make dating easier.

    3.3 How the Dating services company will be started

    Step1: Plan Everything

    The first step to develop a dating website business model is to plan everything. And the best way to plan and start a business is to make a business plan for it. Gillian developed a thorough management plan for starting a online dating service You can follow this business plan if you want to learn how to make your own dating website You can also look at other samples, such as a business plan for SaaS Creating dating website isn’t easy, so you should take help from wherever you can to manage the business.

    Step2: Define the Brand

    The next step is to promote your business and its services. You can do this through marketing and sales plans. The best way to highlight your business and gain a competitive advantage over your competitors is to highlight your values and your benefits in comparison to the market.

    Step3: Establish Your Corporate Office

    Gillian decided to rent out an office in a commercial building in New Orleans to start his business. He will now form a team to manage the business and develop the website and the application.

    Step4: Establish a Web Presence

    The main focus of the business is on a mobile application and a website. Therefore, it is crucial to develop an online presence and reach out to as many people as possible. Increasing online presence for the business will help keep the business afloat and make it more profitable.

    Step5: Promote and Market

    The last thing to do now is complete the marketing plan and promote the business by following it.

    Dating Services - Startup Cost

    Start-up Expenses  
    Legal $143,500
    Consultants $0
    Insurance $23,000
    Rent $34,300
    Research and Development $10,000
    Expensed Equipment $56,000
    Signs $3,400
    TOTAL START-UP EXPENSES $270,200
    Start-up Assets $288,400
    Cash Required $243,000
    Start-up Inventory $39,000
    Other Current Assets $240,000
    Long-term Assets $287,000
    TOTAL ASSETS $1,097,400
    Total Requirements $1,367,600
    START-UP FUNDING
    Start-up Expenses to Fund $270,200
    Start-up Assets to Fund $1,097,400
    TOTAL FUNDING REQUIRED $1,367,600
    Assets
    Non-cash Assets from Start-up $1,424,800
    Cash Requirements from Start-up $162,000
    Additional Cash Raised $50,000
    Cash Balance on Starting Date $35,000
    TOTAL ASSETS $1,671,800
    Liabilities and Capital
    Liabilities $18,000
    Current Borrowing $0
    Long-term Liabilities $0
    Accounts Payable (Outstanding Bills) $54,300
    Other Current Liabilities (interest-free) $0
    TOTAL LIABILITIES $72,300
    Capital
    Planned Investment $1,367,600
    Investor 1 $0
    Investor 2 $0
    Other $0
    Additional Investment Requirement $0
    TOTAL PLANNED INVESTMENT $1,367,600
    Loss at Start-up (Start-up Expenses) $231,900
    TOTAL CAPITAL $1,599,500
    TOTAL CAPITAL AND LIABILITIES $1,671,800
    Total Funding $1,367,600

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    Services

    Before starting a dating service business, you need to filter out the services you will provide to your customers in the beginning. That way, you can plan everything accordingly in your online dating website business plan

    You can follow this business plan guide if you are wondering how to start an online dating service business You can also use small business cyber security plan to get started.

    All dating business ideas are different from each other. However, as Gillian decided to offer many different services, you can use this plan to know how to open a dating website

    Below are the services that Connect will provide.

    • Application (Ad revenue)

    Connect is an app-based business. Therefore, we will have a high quality and interactive app where users can:

    • Add their details
    • Find prospective matches around them
    • Look at the details of people they are interested in
    • Chat with interested people
    • Website (Ad revenue)

    Connect will also have a website with almost the same features as the application. This is so that people don’t have to download the app to meet other people. Our customers can date without burdening their phones.

    • Socialization Events (Direct revenue)

    We’ll also provide engagement and socialization events in different locations across New Orleans for people who prefer meeting people face to face. This service will cater to our older clients who don’t prefer technology all too much.

    • Screening Services (Direct revenue)

    Our last service will be the screening service. Our users will be matched with each other on the website or app through a strict screening process. It will ensure both safety and privacy of our clients.

    While the last two services will be directly paid by users, for the first two services, we’ll be generating our revenue from the ads displayed to the users.

    Marketing Analysis of Dating Services Company

    To start dating service business, you should have excellent knowledge about your target market and competitors. The best way to learn this knowledge is to do an in-depth marketing analysis when opening your dating agency services.

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    Your marketing analysis to open dating service should include details like current, past, and future market trends. This information will help you analyze your company’s expenditures and set service prices. In addition, it will guide you in how to create an online dating service and how to manage it as well.

    You can use this document if you don’t know what to include in your marketing plan or how to start a dating service company As Gillian has a versatile target market, you can use this marketing plan to learn how to start graphic design business

    Below, we have provided marketing details relevant to Connect.

    5.1 Market Trends

    According to PRNewswire, the online dating application market is growing at a rate of 5.6%, and it is expected to reach a market size of 11 billion in 2028. This shows that the demand for dating services is slowing anytime soon. However, in general, more people require these services. Therefore, it is good to start a dating service application as it is expected to have a good market for profitability.

    5.2 Marketing Segmentation

    The potential customers of Connect are divided into the following groups:

    Dating Services - Marketing Segmentation

    Business Plan for Investors

    5.2.1 Bachelors and Bachelorettes

    Our primary customers will be the bachelors and bachelorettes living in and around New Orleans. They are expected to be in the age group 20-35, and they’re expected to utilize our services the most.

    5.2.2 Divorced People

    Our second target customer base will be divorced people looking to connect with people again. They can use our screening services to find other divorced people or any one of their choices.

    5.2.3 Widow/Widower

    This will be our third target group of customers. They are also expected to use our application and website to find relevant matches regularly. These people are expected to be between the ages of 40-60, and they will find our socialization events most attractive.

    5.2.4 Investors

    Lastly, we will also cater to investors looking to invest in a profitable startup. We will be posting our financial statements on our websites for investors to go through. That way, they can see if the business is something they would be interested in investing in.

    Market Analysis
    Potential Customers Growth Year 1 Year 2 Year 3 Year 4 Year 5 CAGR
    Bachelors 40% 43,900 52,680 63,216 75,859 91,031 10.00%
    Divorcees 30% 34,800 41,760 50,112 60,134 72,161 10.00%
    Widows 25% 21,700 26,040 31,248 37,498 44,997 10.00%
    Investors 5% 21,300 25,560 30,672 36,806 44,168 11.00%
    Total 100% 121,700 146,040 175,248 210,298 252,357 10%

    5.3 Business Target

    • To become a secure and reliable dating service in New Orleans
    • To expand our offerings to other nearby locations as well
    • To earn a net profit margin of $50k per month by the end of the third year
    • To achieve and maintain a customer satisfaction score above 97%

    5.4 Product Pricing

    Our prices will be much lower as compared to other dating services present in New Orleans. And we will also provide added benefits like networking events.

    Marketing Strategy

    When starting a online dating service, you need to be mindful of the fact that a lot of businesses offer dating services. So, you need to offer several competitive advantages to your customers to attract them.

    To market a dating service company, you can develop a marketing strategy. This will guide you in how to start a dating service online And it will also help highlight you so that more and more people recognize your company.

    In this business plan, we are providing the marketing strategies of Connect. You can use this as a guide to including a marketing plan in your internet business plan as well.

    6.1 Competitive Analysis

    • We have a swift customer support service. Our customers can contact our helpline at any time for any queries or issues.
    • We have a website and a mobile app so our customers can use our services however they like.
    • We will implement a strict screening process to ensure the safety and privacy of our customers.
    • We will also hold networking sessions for older customers who are not comfortable using technology to meet new people.

    6.2 Sales Strategy

    • We will advertise our services through social media, TV, and posters.
    • We will offer specialized services to our returning users.
    • We will also offer a money-back guarantee to our customers in case of an issue.

    6.3 Sales Monthly

    Dating Services - Sales Monthly

    6.4 Sales Yearly

    Dating Services - Sales Yearly

    6.5 Sales Forecast

    Dating Services - Unit Sales

    Personnel plan

    Online business depends a lot on the efficiency of the support staff available. Gillian understood the importance of competent support services. So, he included a list of personnel needed for the smooth running of the business in his dating service business plan

    If you want to learn how to start dating service business, you can take help from this business plan.

    Any questions? Get in Touch

    7.1 Company Staff

    • 1 Service Manager
    • 8 Customer Support Employees
    • 1 IT Technician to upkeep the computers
    • 1 Web Developer to manage online sites
    • 1 Application Developer to manage the App
    • 2 Sales Executives to organize and promote sales
    • 1 Accountant

    7.2 Average Salary of Employees

     Personnel Plan      
    Year 1 Year 2 Year 3
    Service Manager $33,000 $36,300 $39,930
    Customer Support $210,000 $231,000 $254,100
    IT Technician $24,000 $26,400 $29,040
    Web Developer $24,000 $26,400 $29,040
    App Devloper $26,000 $28,600 $31,460
    Sales Executives $24,000 $26,400 $29,040
    Accountant $25,000 $27,500 $30,250
    Total Salaries $366,000 $402,600 $442,860

    Financial Plan

    Your business won’t be successful just because you have users. The success of a business depends on a lot more factors. Managing a business, especially an online one, can quickly become complex. To make things easier, you should include a financial plan as a part of your dating service business plan It will ensure that you utilize your resources efficiently and do not go into a loss.

    A financial plan should consider all your expenses and your investments to figure out the cost of services you will offer. In this business plan, we are describing what is a dating service business. We also include all management details like marketing and finance plans.

    8.1 Important Assumptions

     General Assumptions      
    Year 1 Year 2 Year 3
    Plan Month 1 2 3
    Current Interest Rate 8.12% 8.20% 8.26%
    Long-term Interest Rate 8.40% 8.44% 8.47%
    Tax Rate 24.03% 24.21% 24.60%
    Other 0 0 0

    8.2 Break-even Analysis

    Dating Services - Break-even Analysis

     Break-Even Analysis  
    Monthly Units Break-even 5340
    Monthly Revenue Break-even $132,500
    Assumptions:
    Average Per-Unit Revenue $231.00
    Average Per-Unit Variable Cost $0.62
    Estimated Monthly Fixed Cost $163,800

    8.3 Projected Profit and Loss

     Pro Forma Profit And Loss    
    Year 1 Year 2 Year 3
    Sales $1,197,500 $1,472,446 $1,810,520
    Direct Cost of Sales $473,000 $551,518 $613,840
    Other $0 $0 $0
    TOTAL COST OF SALES $473,000 $551,518 $613,840
    Gross Margin $724,500 $920,928 $1,196,680
    Gross Margin % 60.50% 62.54% 66.10%
    Expenses
    Payroll $366,000 $402,600 $442,860
    Sales and Marketing and Other Expenses $145,000 $148,000 $156,000
    Depreciation $2,300 $2,350 $2,500
    Leased Equipment $0 $0 $0
    Utilities $2,900 $3,000 $3,100
    Insurance $2,100 $2,100 $2,100
    Rent $2,900 $3,000 $3,200
    Payroll Taxes $24,000 $25,000 $27,000
    Other $0 $0 $0
    Total Operating Expenses $545,200 $586,050 $636,760
    Profit Before Interest and Taxes $179,300 $334,878 $559,920
    EBITDA $179,300 $334,878 $559,920
    Interest Expense $0 $0 $0
    Taxes Incurred $35,860 $66,976 $111,984
    Net Profit $143,440 $267,902 $447,936
    Net Profit/Sales 11.98% 18.19% 24.74%
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    8.3.1 Profit Monthly

    Dating Services - Profit Monthly

    8.3.2 Profit Yearly

    Dating Services - Profit Yearly

    8.3.3 Gross Margin Monthly

    Dating Services - Gross Margin Monthly

    8.3.4 Gross Margin Yearly

    Dating Services - Gross Margin Yearly

    8.4 Projected Cash Flow

    Dating Services - Projected Cash Flow

     Pro Forma Cash Flow      
    Cash Received Year 1 Year 2 Year 3
    Cash from Operations
    Cash Sales $51,000 $55,080 $59,486
    Cash from Receivables $22,000 $23,760 $25,661
    SUBTOTAL CASH FROM OPERATIONS $73,000 $79,570 $85,936
    Additional Cash Received
    Sales Tax, VAT, HST/GST Received $0 $0 $0
    New Current Borrowing $0 $0 $0
    New Other Liabilities (interest-free) $0 $0 $0
    New Long-term Liabilities $0 $0 $0
    Sales of Other Current Assets $0 $0 $0
    Sales of Long-term Assets $0 $0 $0
    New Investment Received $0 $0 $0
    SUBTOTAL CASH RECEIVED $74,000 $79,000 $85,000
    Expenditures Year 1 Year 2 Year 3
    Expenditures from Operations
    Cash Spending $42,000 $42,000 $45,000
    Bill Payments $27,000 $28,000 $31,000
    SUBTOTAL SPENT ON OPERATIONS $69,000 $70,000 $76,000
    Additional Cash Spent
    Sales Tax, VAT, HST/GST Paid Out $0 $0 $0
    Principal Repayment of Current Borrowing $0 $0 $0
    Other Liabilities Principal Repayment $0 $0 $0
    Long-term Liabilities Principal Repayment $0 $0 $0
    Purchase Other Current Assets $0 $0 $0
    Purchase Long-term Assets $0 $0 $0
    Dividends $0 $0 $0
    SUBTOTAL CASH SPENT $69,000 $74,520 $80,482
    Net Cash Flow $21,000 $23,000 $25,000
    Cash Balance $27,000 $30,000 $33,000

    8.5 Projected Balance Sheet

     Pro Forma Balance Sheet    
    Assets Year 1 Year 2 Year 3
    Current Assets
    Cash $275,000 $308,000 $338,800
    Accounts Receivable $24,000 $26,880 $30,213
    Inventory $4,300 $4,816 $4,900
    Other Current Assets $1,000 $1,000 $1,000
    TOTAL CURRENT ASSETS $282,000 $315,840 $355,004
    Long-term Assets
    Long-term Assets $10,000 $10,000 $10,000
    Accumulated Depreciation $19,400 $21,728 $24,444
    TOTAL LONG-TERM ASSETS $24,400 $27,328 $30,744
    TOTAL ASSETS $294,000 $329,280 $370,440
    Liabilities and Capital Year 4 Year 5 Year 6
    Current Liabilities
    Accounts Payable $18,700 $20,944 $23,541
    Current Borrowing $0 $0 $0
    Other Current Liabilities $0 $0 $0
    SUBTOTAL CURRENT LIABILITIES $19,000 $21,280 $23,919
    Long-term Liabilities $0 $0 $0
    TOTAL LIABILITIES $15,000 $16,800 $18,883
    Paid-in Capital $30,000 $30,000 $31,000
    Retained Earnings $53,000 $57,770 $63,547
    Earnings $193,400 $210,806 $231,887
    TOTAL CAPITAL $285,000 $310,650 $341,715
    TOTAL LIABILITIES AND CAPITAL $300,000 $329,280 $370,440
    Net Worth $293,400 $319,806 $351,787

    8.6 Business Ratios

     Ratio Analysis        
    Year 1 Year 2 Year 3 INDUSTRY PROFILE
    Sales Growth 7.25% 8.03% 8.90% 3.00%
    Percent of Total Assets
    Accounts Receivable 9.21% 10.20% 11.31% 9.80%
    Inventory 5.39% 5.97% 6.62% 9.90%
    Other Current Assets 2.11% 2.34% 2.59% 2.40%
    Total Current Assets 149.80% 151.00% 152.00% 158.00%
    Long-term Assets 11.55% 11.60% 11.64% 12.00%
    TOTAL ASSETS 100.00% 100.00% 100.00% 100.00%
    Current Liabilities 4.90% 4.94% 4.98% 4.34%
    Long-term Liabilities 0.00% 0.00% 0.00% 0.00%
    Total Liabilities 7.59% 7.65% 7.72% 7.38%
    NET WORTH 100.45% 101.25% 102.19% 110.00%
    Percent of Sales
    Sales 100.00% 100.00% 100.00% 100.00%
    Gross Margin 94.60% 97.15% 99.87% 99.00%
    Selling, General & Administrative Expenses 93.56% 96.09% 98.78% 97.80%
    Advertising Expenses 1.52% 1.56% 1.60% 1.40%
    Profit Before Interest and Taxes 41.50% 42.62% 43.81% 33.90%
    Main Ratios
    Current 34 35 36 32
    Quick 33 33.8 34.645 33
    Total Debt to Total Assets 0.18% 0.18% 0.17% 0.40%
    Pre-tax Return on Net Worth 74.08% 74.89% 75.00% 75.00%
    Pre-tax Return on Assets 96.30% 101.12% 106.17% 111.30%
    Additional Ratios Year 1 Year 2 Year 3
    Net Profit Margin 33.56% 34.60% 35.67% N.A.
    Return on Equity 55.80% 57.53% 59.31% N.A.
    Activity Ratios
    Accounts Receivable Turnover 7.7 7.8 7.8 N.A.
    Collection Days 100 100 100 N.A.
    Inventory Turnover 32.4 34.02 35 N.A.
    Accounts Payable Turnover 15.6 16 16.3 N.A.
    Payment Days 27 27 27 N.A.
    Total Asset Turnover 2.5 2.5 2.6 N.A.
    Debt Ratios
    Debt to Net Worth -0.04 -0.03 -0.04 N.A.
    Current Liab. to Liab. 1 1 1 N.A.
    Liquidity Ratios
    Net Working Capital $244,000 $257,664 $272,093 N.A.
    Interest Coverage 0 0 0 N.A.
    Additional Ratios
    Assets to Sales 0.85 0.87 0.89 N.A.
    Current Debt/Total Assets 1% 0% 0% N.A.
    Acid Test 29 29.12 29.16 N.A.
    Sales/Net Worth 2.1 2.2 2.2 N.A.
    Dividend Payout 0 0 0 N.A.

    FAQs

    1. How do I start my own dating agency?

    You can start your dating agency by developing a good dating service business plan

    2. Is a dating website profitable?

    The profitability of your dating site depends on a lot of factors like how much you earn, what your expenses are, and what your target market is like.

    3. How much do dating apps make?

    To learn how much a dating app might make, you must develop a financial plan. This is usually a part of your business plan.

    4. What is the most successful dating site?

    You can understand the success of a dating site through its business plan.

    Download Dating Services Business Plan Sample in pdf