Aspiring entrepreneurs often approach me personally as an angel investor, touting their revolutionary idea for still another online dating site. I agree the requirement is offered, with over 91 million singles that are interested the chronilogical age of 19 and 45 worldwide. Yet very little one out of this business makes hardly any money, as it is sold with a more substantial selection of challenges than almost every other opportunities we see.
Hence, we encourage one to examine these challenges as truth checks on your own company concept — dating or elsewhere — before spending your entire some time somebody money that is else’s vain.
1. The marketplace has already been oversaturated with competitors.
Based on data, there are many more than 5,000 internet dating sites global with 1,000 brand brand new people showing up each year. (more…)