How do I start a speed dating service?

Question by groovacious: How do I start a speed dating service?
I know I will require a website but what about a venue? Do I just rent out places for it or do I create and manage my own venue sort of like a headquarter place.
Just tell me all you know about starting a speed dating service.
Thank you

Best answer:

Answer by Marko
The busier that people are, the harder it is to date. Singles struggle to find the time to manage work and play. This could be a prime business opportunity for the right entrepreneur. With a little work, it’s possible to become a business owner and help single people find love.

Step 1
Perform market research. This is labor intensive and is the most important part of the business startup. Find out how many singles are in the area, their ages, average income, favorite restaurants, leisure activities and locations throughout the city. The data will be as detailed as the resources available to obtain it. This will be the first step in developing a marketing plan to attract singles to the speed dating business.

Step 2
Create a marketing campaign. Follow the four Ps of marketing. They include price, product, place and promotion. Based on the market research that is aggregated, determine where the speed dating events will occur, a competitive price for the service, how the word will reach targeted singles and all the benefits of the actual speed dating service. A detailed plan on how to complete each one of these tasks will produce a solid marketing plan.

Step 3
Contact the Small Business Association (see Resources). This organization is funded by the federal government and offers all the tools necessary to start a new business. From financing to finding office space, a complete checklist is available as well as access to expert consulting.

Step 4
Network with other business owners. A speed dating business will always have a need for space to hold events. The owner of this business needs to know event planners, club owners, restaurateurs, radio and TV point persons. Building a contact list is crucial to keeping the business viable.

Step 5
Know the competition. A speed dating business is competing with online outlets and other event planning targeted towards singles. The singles market is constantly growing. It can also include newly single seniors and divorced persons. The competition to reach this market is fierce. It will require a high level of creativity to build a niche in this market.

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