Aspiring business owners usually approach me personally as an angel investor, touting their revolutionary idea for yet another on line dating internet site. I agree the requirement exists, with more than 91 million singles that are interested the chronilogical age of 19 and 45 all over the world. Yet very little one out of e-commerce makes hardly any money, because it includes a more substantial listing of challenges than almost every other possibilities we see.
Hence, we encourage one to examine these challenges as reality checks for your own personel company idea — dating or perhaps — before spending all of your some time some body money that is else’s vain.
1. The marketplace has already been oversaturated with competitors.
According to data, there are many more than 5,000 dating sites worldwide with 1,000 brand brand new ones showing up each year. I suggest you look for another opportunity where the number of competitors you can find is less than 10 if you check your market on Google and find numbers like these.
2. This company is affected with the ‘Facebook model’ startup problem.
Many work at home opportunities, like that one, need thousands or an incredible number of current users before brand mail order wives new users and advertisers have an interest to cover money that is real. Hence, the investment in money and time needed before payback is huge. Facebook invested $150 million before good cashflow.
3. Obstacles to entry are hard to establish.
For a unique startup, the simplest way in order to guarantee success is always to register patents or other intellectual home to help keep future rivals from copying your success. Continue reading “8 Reasons online dating services Are a company Dead End”