Aspiring entrepreneurs frequently approach me personally as an angel investor, touting their innovative concept for still another online site that is dating. We agree the necessity is offered, with more than 91 million singles that are interested the chronilogical age of 19 and 45 around the globe. Yet very little one in e-commerce makes anything, I see since it comes with a larger list of habbo challenges than most other opportunities.
Therefore, we encourage one to evaluate these challenges as truth checks on your own business idea — dating or perhaps — before spending all your valuable some time somebody money that is else’s vain.
1. The marketplace has already been oversaturated with competitors.
In accordance with statistics, there are many than 5,000 online dating sites global with 1,000 brand brand new ones showing up each year. In the event that you check your market on Google in order to find numbers such as these, I suggest you try to find another possibility where in actuality the amount of competitors you’ll find is significantly less than 10.
2. This business is suffering from the ‘Facebook model’ startup issue.