How to start your own dating website?
Starting your very own dating website especially needs a road map and some research of the target audience. You need to know what are the sort of customers you will be dealing with. Are there any other websites especially popular in the area? Are the people used to the idea of online dating? Is your website for the local community or you want to make it for the wider audience? What will be the cost of setting up this idea and when the venture will start generating profit? Are you interested in attracting any sponsors or how you will be generating the initial investment? These are all the questions which form the roadmap to setting up your own business. These are also the questions which will be answered if you the blueprints of your venture. The blueprints technically known as the business plans are the documents which give you a picture of what you require to do to gain the maximum profit from your idea, they also give an idea what the undertaking will be and how will it operate. Another point to be noted is how you represent your venture in your dating website business plan. Your dating website business plan should be able to amaze people so you may be able to attract more sponsors and customers.
OGS Capital is there to help you in starting a dating service
To make your business proposal the perfect, which will help you gather more investors and wow potential customers, OGS Capital does not use the general templates available in the market. Instead we gather the best and highly qualified team which put their thinking hats on and generate new and amazing ideas for your perfect business proposal.
You don’t have to go through tedious ways to contact with the company. The communications is hassle free and the work done for you is excellent. All you have to do is place an order for a business plans. At the very first step we make your business proposal in not more than 24 hours. This is the fastest service which will be provided in the market. We are the fastest and most eager to help you. You may not believe the time since it’s very short but we help with our passion and with highly skilled team we are able to achieve that target. If you don’t have an idea what you need in your business proposal, then we have a solution to that too. Feel free to contact us since we can help by discussing with you and can help you clear your vague idea and then turn it into reality.
We focus on your satisfaction that is why firstly we greatly appreciate if you fill a form which gives an idea about your venture. We will use this idea and would love to help you by providing you with a perfect business proposal. Then at the first stage we make a rough draft, after that we are obliged if you review the draft once so that if you want any changes we can cater to your needs. After the gracious feedback from you we finalize the document and provide with an amazing, innovative and engaging business plan.
Sample Dating website business plan
In the age of startups, many people look forward to starting their very own venture. The world of business is very truly considered the world of risk, where if decisions are not made intelligently can lead to loss of time and money. This is why before starting any new venture a certain amount of information and research is needed. One of the venture that is booming all around the world is starting a dating service.
Why and how to start your own dating website?
Since the early 1900s people have wondered that there could be better and improved ways to meet people, find potential partners and date rather than going to events or going to bars or places like that. This led to the idea of starting a matchmaking business since then it has been a booming industry. Every day in different parts of the world the people want to know how to create a dating website and then want to invest in this venture. The people want to know how to create a dating website due to two reasons; firstly, the single people are usually students, or in early stages of their careers, their social circles are not that developed, so they need somebody’s help to meet new people to date and find potential romantic partners for going on a date. The second reason being that after the divorce or people looking for new relationships after dating for some time need help to meet different people because they have been absent from the ‘single world’ for a long time and don’t know how to start going on date again. Thus, the ever growing field is becoming a very valid and big reason for starting a dating service.
But before you jump on to making a dating website business plan, you need to have the necessary information on how to create a dating website. For starting a matchmaking business, one requires consideration because you are dealing with the emotional health of your customers and in the case of failure can cause serious consequences. Before you take a decision about starting a dating service you need to know about the industry. Information about the competition in the industry is also a valuable information. After you have knowledge of how to start your dating service the next step is to know how to create a dating website. The information and necessary skills required to create your own dating website is another point of consideration. Do you have the skills to create the dating website or are you going to hire somebody to do it for you? This is the decision you need to make before your own dating website.
What services will a dating site provide?
Dating service is a very wide term which is used for all the companies, groups or individuals which help people find their potential romantic partners. The dating services are usually based on the religion, nationality, location, sexuality and other preferences of the target society. In the past this was done by people with a large social circle or in the distant past, people held events for this, for example, the coming of age balls in the English history. But all the dating services were limited and weren’t even recognized as dating services in some cases. In the past, the dating services or using dating website had a negative connotation because people thought it to be the failure of the person to date or find a suitable life partner the normal way.
In the present era in face-to-face finding a potential partner, events are also held which has given birth to the concept of speed-dating. In the event to speed date, people move from table to table and talk to people for a short period of time. At the end of the event people would give their preferences to the host, and if they match, the host would give contact details to the interested party.
But nowadays, the life of people is extremely busy. People have no time to attend events and meet people and look forward to finding the potential romantic partner by dating online. This is the reason why the online era has seen the boom of the dating service and has great potential for new ventures.
Dating services mostly focus on any of these preferences:
Based on faith:
Some dating services focus on the matchmaking of people with similar faith. These dating services attract customers for whom religion and belief are very important. They want their potential partner with the same belief.
Based on cultures
Dating services are also launched on the preference of the culture. For the people who want their romantic partners from some specific cultures are attracted to this type of dating service.
Based on personality questionnaires
Another type of dating service doesn’t consider the above-given preferences rather they focus on the personalities based on anything majority believes in. These can range from zodiac signs to psychological personality quizzes. A person would have to fill in the questionnaire, and on the basis of that, the profile of the candidate would be created on the dating website. The person looking for the potential romantic partner can then search people on the basis of these profiles on the dating website.
Based on sexuality
Although dating on the basis of sexuality is a relatively new concept and the LGBTQ communities are supported by some societies but it is there, and many dating websites are springing up to match people romantically who want to date on the basis of a certain sexuality.
It is up to you to decide what kind of dating service are you going to offer on your website or if you want to mix to more types of dating services. After making the decision, you would have to move on to creating the dating website accordingly. The dating website should be developed with the target dating audience in mind, or it would not attract a lot of traffic.
Now, coming to the part where we discuss how can you start matchmaking business. The following steps will help you in starting this venture:
Keep the types of dating service in your mind:
Starting a dating service or a matchmaking service, needs you to decide on one of those or a mix of two or three types of dating services mentioned above in the article. The decision can be made on the basis of your social circle or merely on your interest. Your dating website layout and the services you provide will depend on the target market and the potential to earn the profit of that specific type of dating service.
Know your target market:
Knowing the target market is important in any venture. For knowing how to start a dating website you need to know your target market too. By targeting a specific market you can better advertise your dating website and can have more customers who want to start dating.
Know your local market:
Knowing the local dating market is very important in starting a dating website. Although the dating business would be online via the website and you would want to target a wider audience via the website, however, remember that the initial clients will come from the local market since they will get to know your dating website business first. If they are not satisfied you can’t take your online dating/matchmaking business via website to a greater level.
Be creative with the offers:
When you start your online date matching website, you need to come up with creative offers to attract more customers, and maybe some inventive offers, for example, your date matching website can suggest some wardrobe changes or suggestions to your client depending on their taste, personality, body type, and culture. With these extra offers and services, people are bound to choose your dating site over your competitor’s date matching site.
Naming your website and business:
Give your dating website and business an attention-grabbing name. Keep it simple and short so that people can remember it. Also, make sure the name is self-descriptive. You don’t want potential customers wondering what your dating website has to offer.
Protect your business website:
Get your dating website registered so that it has copyrights. Also, you need to buy general liability business insurance to protect your dating website from potential litigation because it is very much possible that you may once in a while have a dissatisfied customer.
Get your dating website a logo and an attractive layout:
Hire a graphic designer and get professional help to have a logo for your dating website. Also get the help for an engaging layout of the website. Keep the layout simple and light-hearted yet gorgeous. The layout can’t be serious as it will give it more of a formal look while you want to connect with your customers in a more personal and emotional level.
Promote your business online:
When your dating website is done, now you need to promote the date matching website on social media and other online platforms where you will find your target audience. You can also get your dating website sponsored on different social media platforms.
Dating Website Business plan Guidelines:
What you need to consider before starting the Online dating business plan:
Before writing a dating site proposal, you need to fully understand the aim of your dating business so that you can write online dating business plan which can attract all the potential investors. The dating website scheme will help you actually establish the dating website by drawing investment from the potential investors. The investors will be introduced to the date matching website by the proposition and will decide on the basis of it.
To entirely understand the aim and situation of your business so you can construct a perfect online dating business plan, ask yourselves these questions:
- What is the target market of your dating service, and how exactly are they going to be targeted?
- Will there be involvement of some other firms in starting your dating website?
- What is different, that will attract the target market to your date matching website for investment?
- How much time will it take in starting a matchmaking business?
- What is the technical and office equipment required for the dating site and how will it be gathered?
- What should the main team of the dating venture include to get the most success?
Writing the dating site proposal
Now you have arrived at the stage where you know how to start your own dating website and now are ready to write dating site proposal. If you have done proper research and followed the previous sections of this article you have a very clear idea of your dating site business and will know what you need to write in your dating site proposal. The rest of the article will highlight the material to be added in the dating site proposal.
The dating site proposal is a piece of cake at this stage because all you have to do is basically combining all the information regarding the dating site you collected from the research you did in the previous section. The dating site proposal will include what your dating website has to offer. How your dating site is different from the rest of the businesses in the same field? What would be your target market? You will also have to state a market analysis. With this, you would also add how you will advertise your dating website.
The dating site proposal since defines your venture and is basically a blueprint of your venture that is why it also contains the structural information. Thus you would need to add the structure of the administration of your site in your dating site proposal.
Another thing you have to take care of while writing your dating site proposal is predicting the future of the dating site financially and socially. Make calculations like cash flows, depreciation of things over time and the life of your funds, and how exactly these funds will grow with the passage of time.
It also includes main objective which will merge everything together and will put everything in perspective by summarizing the whole idea of the dating site.
You now get the idea of what to include in the dating site proposal we will see how you can exhibit this information in the proposal. For this purpose, a template is given below for your ease.
Sample template of proposal for the dating website
Following is a sample of what the dating website proposal should contain:
The most important heading- The Main Objective:
It acts as an ambassador of your dating site business proposition to the potential investors. Some investors can form an entire idea of your venture just by reading this portion. It is a general idea of all tasks that need to performed in order to get the dating site running along with making the venture a successful.
The second heading of the proposal- The Overview of the company:
Next heading in your dating site proposal would be the dating site overview. In this you will write about the other matchmaking businesses. You will also be writing about how you are not identical to the rest of the matchmaking businesses or what is different that you offer which will makes people choose you over them. You can start writing it by explaining what a date matching service website is, how are the similar businesses working and how the online matchmaking is booming and how will you get advantage from the situation. In short, write about the operation of your dating website.
Next write the further aims:
The vision statement is determinantal to your business. It is the motivation of starting your venture, and this is what will attract probable investors, customers or employees. An example of the vision statement of a dating website could be ‘To find probable romantic partners for people and facilitating them for their emotional needs with effectiveness and reliability.’ You can write yours based on the guideline which reflects your motivation to start the dating website.
The mission as the name state elaborates your mission as the dating website. The mission of the company describes why the company exists and what benefits it provides. The mission is a sentence which is short and simple yet describes your philosophies and ideas behind your venture.
Mission and vision statement together give your idea a direction which promote your ideas and philosophies and which you think is the right business strategy.
Next heading: The structure of the venture
Often it is seen that businesses with excellent ideas fail just because they didn’t have the right team. This is exactly what the business structure does. The structure of your dating website will determine your management team along with which member of the management team will have which responsibility and how will the company make a decision.
The probable investors want to see the team leading the venture which is properly defined and speaking in broader terms is compatible with each other. The probable investors are bound to invest in a venture for whom they find a team properly structured and with skills because this is the key to success of a business.
You can present your organizational structure with an organizational chart. This will give the investors an idea of the flow of power in just one glance. It will also represent the distribution of the budget and how wisely you will distributing and using the money from their investment to generate maximum profit.
In the next heading mention the strategic and marketing analysis:
This section contains an analysis of the market in which your venture will be born and where your proposition is going to take baby steps. This will let you know what are the chances of your business to flourish and progress in the market. The examination of the industry and how it is composed and your procedure of diving into that occupation. Include the following things in this section:
- Economic Outlook: This section should contain details of how the economy of the industry you are stepping into. Mention if it is favorable to your venture. For the dating providers the industry is booming, you can use it to your advantage and mention this in your economic outlook.
- Industry Analysis: This includes the recognition of the field your company is part of, how is the venture doing in your objective market, what is the charge of establishing the company, what are the norms and how strong is the opposition. For your dating website the industry is the dating service or the matchmaking service. You need to identify how well the industry is doing in your target market and what are the practices prevalent in the same field.
- Target Market: Including the demographics related the market is very important. The importance of recognition of target market increases in the dating services. For a dating website it is very important which demographics of the society are you targeting. This method of yours is to be mentioned in the dating site proposal.
- Competitive Analysis: This section is very important. This is where you write about your potential competitors once you enter the industry and how tough of a competition will these competitors offer. In the dating services there have popped up many corporations, although the industry is a growing industry yet there are many competitors. This is to be described in detail in the above section in the business proposal.
Now you have to write your promotional procedure:
This includes how exactly you will promote your idea to all your potential clients. Dating services have been there for a very long time, but online dating is not that old of a concept. This is still not completely trusted by some people and yet excessively used by others. In the promotional procedure, you have to mention how you will approach the potential customers. You have to present your services in a way that it eliminate the trust issues on online dating of some people and attract all the people who are looking for potential romantic partners. For a dating website, the best platform to market is the social media but you can be creative about the marketing, the more innovative you are, the more customers you will attract. Here are a few things you would need to mention in your business proposal:
- Marketing objectives: This includes what you intend to achieve using your promotional tactics, for example, a dating website should have some connections ready and some people profiles so that other people looking for a partner is attracted to your site.
- Marketing Strategy: This should briefly tell how exactly the dating website plans to target the market. Mention your creative way of targeting the audience and how you will let them know of your venture and not only that, but also mention how you will engage your target clients with your business that they decide to choose your services over others.
- Pricing Strategy: In this section, describe the pricing of your services and your offers. You should provide as much information as possible about your pricing so that it gives anyone a good idea about your pricing. However, if you have a lot of offers or services, you should shorten your list based on categories. This section of the dating site proposal should not be more than a page, or it would be tiresome for the potential investor to read on and on about your pricing and it would still remain unclear to him or her. Keep the pricing strategy short yet full of information.
Next headline-The financial strategy:
The heading of the financial strategy is self-explanatory. In this section, you will mention the financial sources you have and how you are going to spend those sources. Although finances are very difficult to acquire before starting a venture, luckily for you, it should be a relatively easier task as creating a dating website requires less finances than most of other large businesses. This section of your proposal should be well thought out, because it will let the investor know how much of business intelligence you have.
- Underlying Assumptions: The first thing you have to mention is the things you already feel like you know for sure. This will include the funding you will receive and in how much time.
- Source of Funds: In this section, you have to write down where you will be getting all your required funds from. You can list these sources or write them in the form of a table.
- General Assumptions:For the coming years you can make assumptions such as price of the domain of your website, the amount you will pay to the graphic designers for the logo and the layout of your website, federal tax rate, and personal tax rate and state tax rates in particular year. These assumptions are pretty generic.
- Profit and Loss Statements: Give the profit and loss statements. You can include comparison charts as well if you desire to make this section more elaborated and clear.
- Cash Flow Analysis: Give the yearly cash flows, and charts of cash inflows, outflows, and balance. This is optional, though.
- Balance Sheet: This section includes the balance sheet of your dating website and can contain charts as well for further elaboration.
Next step – write the Advertisement Strategy:
The advertisement of a venture is a matter of life and death to a business. How it is done and when it is done is determinantal to the income the new venture will earn. Your advertising strategy should be unique, creative and innovative. The more inventive it is, the more hype it will create among your target market. One other thing to be kept in mind is that the advertising strategy should be designed in a way that it speaks to the potential customer, for a dating website the advertisement should speak to the potential customers on an emotional and personal level. Here are the things you need to mention about your advertising strategy in your dating site proposal:
- A unique advertising strategy is what stands out in people’s mind even if they have heard of the name rarely, people tend to remember unique names so try to come up with a different yet relevant names, but it should not be too difficult, or they will not be able to remember it and relate to it.
- Create relationships with all potential investors and startups you will be investing in. This can be done by going to investment related events and meet up with people willing to invest in the industry of dating service.
- This is the age of social media, all businesses big or small have to have a good social media presence. Advertisement is done through social media these days, so focus on that, use social media to reach your target market. Especially for a dating website which would have its main presence on the social media your main focus for advertisement should also be social media. This will easily attract potential customers who are already familiar with the social media and will find your dating website easier to trust and use.
- Think of unique ways to advertise with catchy tag lines and untraditional ways that catch the public eye and have them talking. The more hype you create the more traffic you will have to your website. The amount of traffic to your website will further help you in advertising the website.
Next step- Devise an Expansion Strategy and Sustainability layout for your dating website:
Your business proposal should elaborate the sustainability layout of your business. The sustainability strategy is the ground basis of perseverance of your business. How you are going to deal with setback if faced and how you are going to keep your business progressing over the period of time is very important and should be mentioned in the business proposal in the form of sustenance strategy. A good sustenance strategy exhibits long time commitment and leaves a good impression on your potential investors who help you generate more funds for your business. Your object should be to increase the cash flows without extra investment and profit to expand it and cover a wider target market with more services and offers.
Since the dating website is a multi-dimensional business with different types, you can with time work on development and addition of different types of dating services. You can also advertise on a larger level to a wider audience so all of them can relate to it and would want to avail your services. You can also develop separately specific area based domains and websites specialized for that domain which would be offering area specific offers and services.
The last step of the writing the Operational proposition of the dating website:
This part of the business proposal includes the detailed list of tasks that you have to do for the launch of your dating website and the respective timeline that will be taken to carry out each task. This helps you follow a schedule and helps in planning out the actual establishment of the dating website and each milestone that comes with it. It is also an excellent way for investors to know that you do have a road map planned out and you have a serious attitude about diving into the industry of dating services. For the dating website you can mention when the layout will be done, when the backend will be prepared, when will the website be ready to launch, when will you start the marketing and every step that you have planned in the previous sections of the article would be mentioned in this section with its specific timeline.
How to execute your business plan?
If you have diligently followed the previous portions of this draft, you would have by now with you a general idea of the business, and after that, you have the business plan. After the business plan, you would have generated the investments too, of course, which is due to the business plan. It is the time to start with the launching the dating website, but for this, you need some important information which is mentioned in this section of the article.
Dating websites are often criticized that they claim more and don’t deliver that much. People have blamed websites for their lack of reliability since they had made profiles, but instead of finding good matches and potential romantic partners they have only been matched with people who weren’t anywhere near their ideal partners. Dating website deals with customers on a very personal and emotional level which is a great responsibility. If a dating website is not able to deliver following two things happen:
- Firstly it causes damage to the emotional health of the customers, in this age of medicine where we have a cure for most of the physical diseases the emotional deterioration of health is rarely detected and diagnosed while the population is suffering more from mental diseases than physical diseases. Thus making a dating website is very sensitive with utmost need of reliability and ability to deliver most of the time.
- Second thing that happens when the dating website is not able to deliver is the outrage of the unhappy customers which is more than unhappy customers of other businesses because the dating service would have connected to the customer on a more personal level.
- Seeing the sensitivity of the task of the dating service, a successful dating service would keep in mind to follow the points below to avoid the results of lack of reliability, and no only that, but also avoiding the failure of your business:
- Focus on choosing the right people for the right team: Putting the right team is crucial. Investors want to see a team that has worked together, and that worked together in a good way. For a dating website the developers of the website, the people marketing the website, the people handling the finances of the website should be adept in their area of expertise, but more than that they should be able to cooperate with each other. You need to choose talented people who complement each other to make this venture work. You can choose among people you know and use your connections to form a team it will save you on the cost of recruiting people.
- Give yourself some time and do proper research on how to create a dating website: You need to be patient with the dating website. Don’t expect it to be a booming business in the very first year or the early start, like any other business or maybe more than other businesses in some perspectives the dating website would take more time. As the dating website would have to earn trust and respect from the audience or you won’t be able to get profiles.
- Keep a close eye on those balance sheets: One and the only way to know that you are taking right steps and making the right decisions is to keep track your balance sheets and cash flow statements.
- The shareholders need your focus: Your focus should also be on the shareholder or a partner if you have any in your business. Many a times companies fail due to friction among the shareholders and partners when a conflict arise, or a partner feels that they have no say in decision making. For a dating website to run smoothly make sure everyone gets their say.
- Create a Winning formula and stick to it: Once you have come up with a good operational and marketing strategy have faith and stick to it, don’t change course midway even if the positive results are not apparent at first. You need to perseverance and patience to succeed in this industry.
OGS Capital is ready to help you succeed:
Now that you know how to write a business plan and what do you need to research before making a business plan you may still find yourself at loss or may not find the time to make a business plan yourself. While the business plan needs perfection due to lack of time or lack of skill you may wonder what you can do to get a perfect business plan. We have the solution to your dilemma. OGS Capital can help you. OGS Capital can provide you with the best business plan for your venture so you can attract an amazing number of investors and potential customers.
The sole purpose of OGS Capital is to help people. With the desire to help people and the highly qualified team deployed on the mission to make the best business plans we have worked with many ambitious people who were starting their new ventures, people who were on startups and people who wanted a better business proposal for their idea; all of these people were happy clients with positive feedback.
The team is highly fortunate to have a highly qualified skill set among us. Three of our top team members have an MBA from top 20 business schools and that is reflected in their work. 4 staff members have a CFA and two with ACCA, this results in a product based on all perspectives and a lot of experience and qualification.
OGS Capital does not just work to get the job done, we want to ensure that we do it in the best possible way so that the client is happy and gets the results they are looking for.
Thus if you have a bright idea and want to turn your idea to reality let us help you do that. We can help you turn the imagination of your great mind into reality.
Illustrative business plan samples
OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.