According to Mc Dermott, earnings for the first quarter of that year amounted to .9 million; profits were .1 million in 2002 versus .7 million in 2001.“This is a massive business,” said Roben Farzad, a writer for Smart Money magazine in September, 2005 The essence of speed dating is to get to know several different people in a short span of time and if you find yourself interested with some then maybe continue your date with those specific persons or more, after the speed dating process.It is a very popular practice with singles everywhere and therefore a profitable business if utilized accordingly.The dating industry is comprised of matchmakers, newspaper and magazine personal ads, telephone chat lines, singles bars, nightclubs geared toward singles, speed dating organizations and internet dating services.Internet dating services began to take shape with the advent of the first major player in the online industry, in 1995.
It is best to know about your target audience as the goal of this type of business is to find matches for your clients.
Years later, has maintained its place as the best known, most reliable resource and largest network for online dating.
Since the start of the new millennium the online dating industy grew rapidly from year to year. In 2004, however, those high numbers began to drop. Vice President of romance for Match.com, Trish Mc Dermott, reported a 154% growth in revenue, from .3 million in 2001 to 5.2 million in 2002.
It is also considered as the easiest and most cost friendly way of getting the word across.
Another of course is through word of mouth that is why it is very important to ensure that the opening of this business is a success.