8 Reasons online dating services Are a company Dead End

8 Reasons online dating services Are a company Dead End

Aspiring business owners usually approach me being an angel investor, touting their innovative idea for yet another on the web dating website. We agree the requirement is offered, with more than 91 million singles that are interested the chronilogical age of 19 and 45 around the globe. Yet very little one in e-commerce makes hardly any money, because it is sold with a more substantial variety of challenges than almost every other opportunities we see.

Thus, we encourage you to definitely evaluate these challenges as truth checks on your own company idea — dating or else — before spending your entire time and some body money that is else’s vain.

1. Industry has already been oversaturated with competitors.

According to statistics, there are many more than 5,000 internet dating sites global with 1,000 new ones showing up on a yearly basis. 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 suffering from the ‘Facebook model’ startup problem.

Many online business offerings, like this 1, need thousands or an incredible number of current users before brand brand new users and advertisers have an interest to cover a real income. Therefore, the investment in money and time needed before payback is huge. Read more…