Aspiring business owners frequently approach me as an angel investor, touting their revolutionary concept for yet another online site that is dating. We agree the requirement is offered, with more than 91 million interested singles between the chronilogical age of 19 and 45 all over the world. Yet very little one out of e-commerce makes anything, I see since it comes with a larger list of challenges than most other opportunities.
Therefore, we encourage you to definitely examine these challenges as truth checks for your own personel company concept — dating or elsewhere — before spending all of your some time some body else’s cash in vain.
1. The marketplace has already been oversaturated with competitors.
According to data, there are many than 5,000 online dating sites worldwide with 1,000 new people 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 that one, require thousands or an incredible number of current users before new users and advertisers have an interest to pay for real real mail order brides usa cash. Hence, the investment in money and time required before payback is huge. Facebook invested $150 million before good income.
3. Obstacles to entry are tough to establish.
For a brand new startup, the simplest way in order to guarantee success would be to file patents or any other intellectual home to keep future rivals from copying your success.
Read more8 Reasons online dating services Are a company Dead End