Speed Dating Business Model

Adult speed dating is a popular niche that attracts lots of patronage. The business is fun, lucrative and exciting. An entrepreneur stands to gain huge profit if well organized.

To succeed you need to diversify you clientele and offer broad based services. There are many niche groups to consider such as ethic, age group, corporate and romance speed dating. Discovering your forte would improve your chances at gaining a share of the market.

There are a few things you need to start a speed dating service. Passion, entrepreneur spirit and matchmaking skills are important to the success of the enterprise.

By Wikimedia Deutschland - Gesellschaft zur Förderung Freien Wissens e.V.,CC BY-SA 3.0 , via Wikimedia Commons

Speed Dating Business Model

Take a Feasibility Study

Before embarking on your project you should take a feasibility study of your community. In the study factor age groups, academic qualification and ethnicity.

What demography are your clients, business people, above 50 years or middleclass. Theses are important parameters to consider before launching the enterprise.

Once you have a feasibility study and a survey, write a business plan. The plan should provide a workable business template.

Create a Budget

In your budget make sure you include start-up costs, promotions and operational costs. Other financial considerations include staff wages, permits and licenses.  

More cost considerations are decoration of venue, leasing arrangement, security, drinks and catering services. The appropriate kind of drinks for such an event is wine and light snacks.

Staff Considerations

Apart from a receptionist or secretary you need very few staff to run a speed dating agency. You could run the enterprise as a sole proprietorship business.

During dating events you could hire casual staff to handle the meetings.

Select a Venue

The kind of venue you choose for the event is very important. The venue could be in a restaurant, event center or club house.

Approach owners of such establishments and organize the event on their off days or during periods of low patronage. The best periods are in the evening after office hours and weekends.

Features of a good venue include comfortable chairs, good ambiance and romantic setting. Other criteria are nice aroma, table ornaments, low noise level and easy accessibility.

You should make adequate provisions for your patron’s safety. Try to add some romantic touches to create an enabling environment for the couples.

Good Venue for Speed Dating

• Drinking Pubs
• Club Houses
• Restaurants
• Event Centers
• Leisure Parks
• Public Parks

Identify a Niche Market

The success of speed dating is predicated on finding couples with common attributes. You can factor age group, ethnicity, financial status and education. Choose the niche and develop a good program for the event.

How to Start a Matchmaking Business

Attract Sponsorship

Speed dating is popular so sponsors are eager to participate in the event. Sponsors may contribute in cash or kind.

This will considerably reduce your expenses and even add more cash in your pocket. You can seek sponsorship from restaurants, clubs, banks and hotels. Others are fitness gymnasiums, wine manufacturers and supermarkets.

Functions of a Speed Dating Agency

• Find a good venue
• Do lots of Promotions
• Screen Patrons and do background check
• Match participants
• Seek sponsors
• Hire casual staff for the event

Screen Patrons

It is very important to screen attendees through background checks and due diligence.  Make sure the participants are compatible by using pairing criteria, personal info and bio-data.

Promote the speed Dating Service

Use both paid and free classified to promote your speed dating service. Advertise in newspapers to attract patronage.

Print handbills, business cards, banners and billboards to attract people. Include your company profile in yellow pages and online directories.

Build a Dating Website

Dating websites are effective marketing tools. Make sure your website is search engine optimized and add interesting photographs and blog posts.

The website should have a top domain name and good host plan. Include a dedicate phone number, mailing list, event calendar.