So Am I Mad?

[Tiggy]

As said before I am starting an events/dating/ business.

My idea is to start of start off fairly small, establish myself in 3 specific areas in the UK and then gradually expand from there.

I have deliberately decided not to go down the route of investing huge amounts of capital from the outset and having to go to a bank and borrow on top.

However I'm wondering if I should review that. There are so many companies now out there, big strong beefy ones who are firmly established and have been around for 2 or 3 years. Hence more money, influence and clout.


For a long time there was no one holding singles events in my area. I was about to buy a licence from an existing 'biggie' but something smelled wrong about the deal and I decided to keep my 21k.

However I am now researching more of the competition and a massive player is now holding its first HUGE singles events in my area and is also spreading into to similar small pockets around the country having firmly established themselves in the major cities. The small pockets were meant to be my starting ground.

Can I survive and grow in this David and Goliath situation by starting of small or would it be wiser to invest heavily and create a big company in lots of area at the start?

One thing I do not lack is creative ideas. I can usually come up with ways to put a different and quirky spin on something. Enthusiasm and determination in spade but looking at this practically and realistically is it still a goer?

Much appreciated

Tiggy

[Jayne]

Try it first, if it doesn't pan out how you liked, then re-think going to the bank. You may not like it, then you would have invested for nothing.

Try some local W M Clubs etc. Try it out first on venues away from where you really want to be, use these to practice and get feed back from the customers. There are lots of single people on council estates near clubs, good for a practice.

Best Wishes

Jayne

[ebonybailey]

hold on to your money. If your ideas are better than theres then you will come out on top.
Look at it like this if you spend loads and find that your not on an equal footing with your competitor you may find that your business starts to turn soar through competitve pricing and the like. However if you wee to start small and have a few cheeky ideas that work word of mouth will expand your business with low input and maximum output.
If it suffers through lack of interest then you have lost near to nothing. In my opinion in this type of business you have to have either the shock factor, or do what they do ONLY BETTER

Michael

[Andy @ BlueLight Creative]

Hi,

What is your USP?

Concentrate on what you can offer that your competitors aren't \ can't and use that to drive your business forward.

Andy

[RSL]

I agree with Andy, you need to be clear about that makes your service so unique. There are plenty of dating agencies/singles events out there but on the other hand there are plenty of singles out there too...whilst the life long ideal of love and romance is alive there will always be a demand. But to secure your business you have to know what you will offer that will make your service GREAT! Do some research, if you can attend some of your competitors events, look on the sites, talk to single friends...in business there will always be the big and small fish but with awareness and skill the small fish can survive. :D

[Tiggy]

Thankyou to all you creative, inspiring, brilliant people!

I do definitely believe I can be cleverer, cheekier and sharper than them.

While studying the websites of main players you don't have to go far before you get that distinct 'groundhog day' feeling. And even in their 'what makes us different/special/the best?' section, the points they make to sell themselves are fine but.....er.....generally the exact same points that everyone is making to show how different and special they are so it becomes self contradictory.

And it's surprising how many of them are 'The NUMBER ONE in Speed Dating!'

Enough *****ing - back to my plan.

Tiggy

[Rob Holmes]

Tiggy,

Go Tiger ;)

Rob

[Tiggy]

GrrrrRRRRRRRRRRR!! :D

[americatelefon.com]

I advise u to pretend like u r single and have not been dating anyone for the last 10 years of your life :D Go to your competitors' agencies and just find out what their disadvantages are. I'm sure that your agency will be popular, cause there r so many singles in this world!!!
Good luck!

[winton50]

Don't be fooled by 'Big' companies
in my experience companies that look really big and flash and have executives driving around in big cars are very often hollow in that they are in debt up to the hilt.
Many times I have looked at a business and thought they are doing well and they go bust a couple of month's later.
don't believe the hype, just do what you do to the best of your ability and it will all come right.

[Jayne]

Don't forget the personal touch! Being a small business can have it's advantages. We have a small food business, we know customers by name and they know us, they have a chat and keep coming back. You don't get that in Gregg's. If customers like you, they will tell everyone they know who is single to go to your speed dating (better than any expensive advertising) and your business will grow.

Best Wishes

Jayne

[Tiggy]

Thanks Guys, good points again.

I did get the distinct impression with the company that I was going to buy a license from that they weren't in great financial shape despite all the bells and whistles. They were very good at selling themselves and portraying an impressive image but the bottom line was they were extremely reluctant to show me ANYTHING to indicate the financial state of the company, so much so that it meant me backing out and not giving them a bean.
I have since learnt that this information is ready available for people to view if they do want to check a business out.

I really don't want to make the mistake of trying to run before I can walk and forcing unnatural and unsustainable growth on the business before it is ready. I like small to be honest and I would rather be small and proud and satisfied than big and built on sand.

Tiggy

[clickprofits]

Hi Tiggy,

As a 'single person' my advice would be to avoid jumping on the speed dating bandwagon and maybe try something a little different? I haven't tried speed dating and although it sounds fun it also seems very contrived. All that those 20 (or however many) people would have in common with me is that they are single and of a similar age - so if you did set up something similar why not find out more about the people first and then go for some sort of 'niche' speed dating where you had evenings for people who already 'match' in some way . At least then you would know that you had something in common with the people you were meeting at the event (shared interest/hobbies, or outlook on life for example).

Alternatively, why not go for some sort of social club - less emphasis on the 'single' factor and therefore a lot less pressure. Perhaps have events like white water rafting days or pub nights, or rotating meals, or hillwalking weekends, or whatever. Then people would have a longer period of time to enjoy an activity they both have an interest in and relationships could develop in a more 'natural/spontaneous' way?
There is already a national organisation called SPICE (spiceuk.com) which does this on a franchise basis, but I found that the average age (of the Scottish group anyway) was a bit older than me, so there is almost certainly a gap in the market for something aimed at those in their twenties and thirties...

[DuaneJackson]

Hi Tiggy,

I'm not sure where you're based, but a client of mine started a very similar business in London a year ago and is doing well. She's a very friendly person and I am having a meeting with her on Tueday.

Assuming you two aren't operating in the same geographical area I think she might be willing to have a chat with you to discuss her experience over the last year and hopefully you might be able to take something useful away from it.

If this is something that you are interested in then let me know and I'll have a chat with her and put the two of you in touch. Her website is www.thesocialservice.com . Feel free to contact her directly but I'd be happy to make an introduction if you wanted me to.

(Edited to fix link)

[MichaelG]

Let me share 2 experiences with you.

01. I meant a guy (no names) who by the time we met had spent 25k euros on pay/click ads for an online dating and speed dating service - lets not talk about offline marketing spend. He has now gone into property investment. Too many people doing the old thing and there is no customer loyalty at all.

Result: Failed

02. We help a client with http://www.specialfriendship.co.uk, a fun friendly online disabled dating community with live chat and the disability forums etc. A chance for disabled people to make new friends or find romance - the people that really can benefit from an online service.

A good market - good people -and a big gap in the market in the UK.

Result: A growing business/community.

Final advice: Before spending any money - DO YOUR HOMEWORK!

[Tiggy]

Thanks so much guys for all your replies - I've just picked this thread up again and didn't realise there were posts on here I haven't seen.

You know it's strange but the more I have looked into it the more speed dating seems sort of off putting. I think it really frightens off a large number of people as it can seem very daunting. Even with the big speed dating sites, you just get the impression that everyone is super confident and super sophisticated and, lets face it, not everyone feels like that.

Even the idea of a stop watch and a whistle all seems a bit like you're trying to control a herd of cattle!!!

I have become aware that I feel more comfortable about providing something more targetted, a certain niche, and something more intimate such as dinner dating and, yes, hill walking weekends etc. That really appeals.

My idea is definintely changing the more I am thinking about it and I do feel I am getting closer to deciding on exactly what kind of service I will be providing.

In the past I have rushed into a business without thinking it through and I came rapidly unstuck. I don't intend to make the same mistake again.

The help and advice on this site is really helping me to clarify my ideas so thankyou once again for you invaluable input.

Tiggy :D

[Jayne]

Hi,

Had a thought, what about old fashioned disco's for singles. Maybe have by age group singles nights. Sell tickets for the Disco to pay for the DJ and your wages, most clubs would love this on a quiet night to up their beer sales. Organise some silly games to break the ice and bobs your uncle! :D You can sell tickets over the web then.

Jayne

[Tiggy]

Thanks Jayne that's a great idea! I will add it to my ever growing folder. It's certainly something that I could see myself going for if I saw if advertised.

What does everyone else think?

Tiggy :D

[Jayne]

Elvis night always pack our local pubs too. You could have Elvis nights for singles, the'd come just to nosey or for a laugh. You can get Elvis impersonators anywhere, have prizes for the best dressed single elvis (male or female). It doesn't matter if Knowone pulls, you get your ticket sales and all have a good time and will come back again.

Jayne

[Tiggy]

uh,uh, uhhhhh, uh, uh, uhhh.....!!! :D


You know that is weird - the other day I actually thought to myself ' I think I would make a good female Elvis impersonator!!'

My boyfriend said it was a ridiculous idea as I sound nothing like him and look even less like him.

However, these small details don't seem to stop all the other Elvis impersonators!! :D

Tiggy

[MichaelG]

How abouts arranging single's only weekend city breaks - Paris, Rome, etc

1 Hotel, 1 Flight, 1 Night and many singles (40 max) ;)

The singles have a great chance to get to know each other.

All you have to do is contact lastminute.com for the breaks, and market the concept.

By the way, I saw Elvis at my local indian - looking a bit off colour.

[Tiggy]

MichaelG I am liking your style!

Just feel a bit sad it doesn't give me an excuse to wear a black leather cat suit but you can't have everything!!

:wink: Tiggy

[MichaelG]

MichaelG I am liking your style!

Just feel a bit sad it doesn't give me an excuse to wear a black leather cat suit but you can't have everything!!

:wink: Tiggy

Tiggy its not a day trip - its a weekend - so pack the cat suit - it would look better in Paris ;)

[Jayne]

You cannot have a good old fashioned knees up in Paris weekends, especially dressed as Elvis. You need to have a dance, a drink (Lots) and a laugh. People will be that relaxed they'll all pull. Isn't that the idea :lol:

Plus easier to organise and cheeper!

Jayne

And Tiggy! You go girl :D The girl from the group Texas did a great Elvis.

[MichaelG]

A phone to lastminute.com - buy 40 tickets - email everyone - meet at airport 7.00pm - FLY! or go by eurostar.

And if you hate Europe - weekend trip to Newcastle ;) - the idea is to get people together for more than just one night - spending a night and day at least together.

[Jayne]

A phone to lastminute.com - buy 40 tickets - email everyone - meet at airport 7.00pm - FLY! or go by eurostar.

And if you hate Europe - weekend trip to Newcastle ;) - the idea is to get people together for more than just one night - spending a night and day at least together.


No! Come to Freeport Castleford in Yorkshire, stop in Tulip Hotel (New and Posh), they've got real ski slope, bars, night clubs, shopping, pictures, lots of eating places, bowling and best of all ME and my husband. We love a good night out :lol: (we'll pertend to be single) :lol:

Jayne

[virtuallysorted]

Hi Tiggy,

Have you tried some "Mystery Shopper" research ("Industrial Espionage" sounds so formal!!!). I'd go along to one of their events & see what they do well, where they might be missing a trick, where you could do something better or different.

Plus you can get lots of phone numbers of potential new customers for you! (although that probably is a bit morally bankrupt!) :lol: