How to Start an Online Speed Dating Business?
People now love everything fast. Talking about dating, they want to find their relevant date as soon as possible. By considering the demand of users, speed dating came into existence back in 1998.
For those who don’t know, speed dating is an organized social activity where eligible singles meet with potential partners who seek romantic relationships for a short interval.
Later, speed dating became a preferred method for many users to find their dates.
Various entrepreneurs worldwide started speed dating businesses to provide a better dating experience to users and generate more revenue.
With changing times, entrepreneurs understood the demand for smartphones and other gadgets which leads them to create dating sites and apps to enter the dating industry.
If you want to take advantage of this ever-growing industry, you can start an online speed dating business.
If you are wondering how to start an online speed dating business, then rest assured. Here we will walk you through the same.
Let’s discuss these without further ado:
What is Online Speed Dating?
In online speed dating, users meet various liked-minded singles virtually for a short interval of time. Based on their conversation with the person, they can decide whether to take the specific relationship ahead or leave it.
Let us understand in detail the process of online speed dating.
How Does Online Speed Dating Work?
Online speed dating works in the same way as offline. The only difference is that users meet through video.
Here users have an opportunity to meet more people as compared to offline. They can meet about 100-200 people in a single event. As soon as the user joins an event, the user has to wait in the lobby area till they get a chance to start dating.
As soon as their date is over, users get an option to choose whether they liked the person or not. After replying, they have to wait in the lobby again.
Further, the software connects the user with the next date based on your dating preferences and age.
Here, users only have 5-10 mins to date with a person, and that’s why they have the opportunity to meet a wider variety of people.
As soon as the online dating event gets over, a user will receive their matches instantly or in the span of the next 24 hours.
Opportunity and Future of Online Speed Dating
There are no online speed dating apps available on the Google Play Store and Apple Store right now. Hence, you have an excellent opportunity to cover the untapped market by launching an online speed dating app.
After looking at the opportunity, you might be worried about the online speed dating future. To know the same, let us go through some of the statistics of speed dating.
“According to Statista, about 13% of individuals in the US and the UK were interested in organized speed dating events in May 2020.”
“As per ThinkWithGoogle, 51% of users between 18 to 24 years say that video and virtual dating are highly important.”
But now the question arises, how to start an online dating speed dating business? Then, rest assured.
As a leading dating app development company, we have made many mobile applications for businesses and startups across the globe. Hence, we are familiar with the process of starting an online dating business.
So, let’s get started:
9 Steps to Start an Online Speed Dating Business
Here is the list of steps that you need to take for starting an online speed dating business through an app:
1. Conduct a Thorough Market Research
First and foremost, you need to create a user persona. It means you need to collect user data where you want to provide online speed dating services. You can collect various demographics & behavioral data such as age, name, dating preferences, problems, etc.
In general, people who are single, widowed, or divorced are interested in online speed dating. Further, people in the range of 18 to 60 years love speed dating. Also, mid or high-income earners mainly turn to online speed dating.
By analyzing all of the things about people living in different regions, you can define your audience.
2. Decide a Targeted Location to Launch and Prepare Road Map
You need to decide on a targeted location to launch your online speed dating business. By starting with one region, you will have a better understanding of the online dating industry.
You can also create a roadmap that consists of the lists of regions where you want to expand your online speed dating services.
3. Choose a Suitable Name
The next important step after deciding the targeted location is choosing a suitable name. It is crucial because people will recognize your business with the name.
You need to ensure that the name you choose for your business is easy-to-remember, unique, and modern. One another thing you need to ensure is that the business name is in line with your industry.
4. Get Necessary Licenses or Trademark Your Name & Logo
Before you start an online speed dating business through an app, it is crucial to know the rules and regulations of the location and then start the business. You can either obtain the necessary licenses or trademark your name & logo.
By knowing all the legalities of the location and getting the required license, you will not face any trouble down the road from regulated authorities.
You also have an option to trademark the name and logo of your business. Trademark is a great communication tool that makes it easy for customers to identify you. It ensures that nobody can have the same name as your business. It never expires and is one of the most valuable resources of your business.
5. Choose a Business Model
To run and grow your business, you need to choose an effective business model.
Here are some of the best business models that you can integrate into your online speed dating app:
It is one of the most popular business models used by a vast number of dating apps worldwide. In online speed dating apps, you can charge users either daily, weekly, and monthly. You can provide a specific amount of virtual dates to users based on their subscription plan.
You can also go through the Tinder business model and implement some of its good features to get the best out of your speed dating business as a huge share of Tinder’s revenue comes from subscriptions.
You charge a one-time fee from users and provide them a specific amount of dates daily. Moreover, you can also allow users to attend speed dating events organized in your location.
In this business model, you organize various virtual dating events in your speed dating app. You charge a specific amount of fee from users who want to attend any of the events. This is typically how dating apps make money worldwide.
6. Design & Develop a Speed Dating App
After choosing a suitable business model, the next thing is to design and develop your online speed dating app.
A dating app can’t be built by a single person. You require a team of professionals having experience in building dating apps.
Hence, you should hire a professional mobile app design & development company. They have years of experience in building dating apps. Therefore, they can provide you with the best solution.
7. Test & Launch App
When your app gets developed, the next thing you need to consider is to test & launch it. By testing your application, you can find various errors and resolve them before making the app live.
You can share your app with every person you know. You can collect feedback from users and then solve all the errors in your app.
Then you can launch your app on the relevant app store. To launch your app successfully, you should adhere to the app store optimization guidelines.
Besides this, you need to follow a pre-launch, during launch, and post-launch checklist to launch your application successfully. To know more, refer to this blog on how to launch your app.
8. Carrying out Marketing in the Targeted Region
After your app gets released on the app store, your work is not over. The next thing you need to focus upon is app marketing. It is crucial as it helps you increase brand awareness, increase user engagement, add more value to customers, build customer loyalty, etc.
You can reach out to a mobile app marketing company. They will first understand your business and follow an effective app marketing strategy.
9. Maintain Your Application
It is crucial to maintain your app regardless of the industry. The app maintenance helps you resolve bugs, improve security, third-party API updates, integrate features, and more.
If you avoid app maintenance from the start, you might face many issues and spend a lot down the road to ensure it works properly. Therefore, you should pay attention to app maintenance.
If you want to know about app maintenance and its cost, check out this guide on app maintenance cost.
So far, we have walked you through all the steps required to start an online speed dating app business.
Your ultimate purpose should be to provide an online speed dating app that helps users find dates efficiently and helps you generate good revenue.
If you have decided to start an online speed dating app business, then do not hesitate to contact us.
Guru TechnoLabs is a professional dating app development company. We have successfully helped clients in launching dating apps. Hence, we can understand your idea and come up with a reliable solution.
Frequently Asked Questions about Online Speed Dating
Q 1. Is there a speed dating app?
There is currently one application with the name Filteroff which offers video speed dating. Apart from this, there are no other speed dating apps. You have a massive opportunity to enter the segment and become successful.
Q 2. How long is a speed dating session?
Generally, the entire speed dating session lasts for a minimum of 2 hours. Here, users get an opportunity to talk with many singles of the same age and dating preferences.
Q 3. Is speed dating online worth it?
Absolutely, online speed dating is worth the time. It further depends on the event you participate in and your overall attitude towards it.