Venture Concept

1. I am hoping to attract anyone that is single, and looking for a potential marriage partner. There are variations of businesses like this in our society, but there isn’t one quite like mine. Unfortunately, the forces in the environment that helped create this opportunity for me is the decline in marriages, and with the hope that the trend stays this way, or that people prefer my method over anything else they’ve been introduced to is what is going to help keep my business standing. I wouldn’t say that the market is defined geographically, but towns with a high percentage of younger citizens do have a higher rate of single people rather than those populated by older people. Additionally the demographics for this market are just anyone 18yrs or older, and single. Other than that I want to promote diversity with my company, so anyone the meets the age requirement no matter the socioeconomic status, or race, or background is allowed to partake. The customers I have talked to are satisfying their need with dating apps. They aren’t really that committed to it, but rather a lot of them don’t take those connections seriously, and are using the app for entertainment services more than anything. In my opinion this opportunity is big; but I wouldn’t say it’s gigantic. I understand that matchmakers have been around forever, but that’s not all I want my business to be. I want it to be more than one person finding love, but rather multiple people trying to find love, and I’m just the facilitator. So in a way with my unique twist I think the opportunity for my business is big. I think this window of opportunity will be forever open, because there will always be an abundant amount of single people, and people who like to party, and make connections. I am hoping to provide a sort of speed dating party. It will be held once a week on a Thursday, and will be hosted at different venues with different themes, based on customer votes. There will be a social media page that the customers will be able to reach my team directly, buy tickets, and find out new information for every given week. Upon getting enough information, and buying tickets the customers would be given the address of the new party, a themed name tag in the mail, and their ticket. My hope this concept is to put a twist on dating, and take it back from technology, and bring it back into real world. I will make money off of advertisements on my social media page, and with the purchasing of tickets which will be about $20, and the purchases of extra food; outside of the snacks provided. I think customers will buy into my business because it’s fun. I help bring outdated concepts that some people still hold onto, and merge it with the concepts that are found in our social today. This uniqueness is what is going onto draw people to my business, and keep them with us. My hope with this innovation is to help solve the decline in the marriage rate. I understand that some people just don’t want to get married, but there are others who have given up hope on finding their “soulmate”, I want to help give them back this hope, in a relaxed environment. I don’t believe it will be hard to get customers to switch from online dating to my business p, because a lot of the people I have interviewed have already voiced their dislike for that trend of dating. My competitors will be dating sites, and other “match making businesses”. I think their possible weaknesses is their lack of spontaneity, they usually stick to a specific formula, and try to help their customers as best as possible. Additionally, another weakness is the fact that they usually throw people into dating without letting them be comfortable with the other person first. Lastly, I think a weakness of theirs is that the company chooses the people they think will be best for their customers. With my business I don’t want to do any of that, I want my customers to choose who they want to go on an actual date with outside of my business. I want them to be able to come to my parties and just relax, and let things flow organically rather than them being put together by an algorithm or someone who believes they know what is right for them. Customer support will be the most important part of my business. I think the only way to survive is to listen to my customers, and try to get everyone the best experience possible. As stated earlier my customers will be able to choose among a list of venues and themes, for each party. My price is the last thing that people will be drawn to; I am not set on the price listed above, but I do want my parties to be affordable for everyone no matter their bank accounts. Overall, listening to the customers will help bring everything together for my business. I am not sure how many employees, but I would need my own staff of about 20 people to get the ball rolling, and as we expand this number will expand to. I think it would be smarter to just spend my money outsourcing; like hiring caterers from other business, dj’s, , etc. until I have enough money to be able to provide all that in house. To help keep my business afloat I will charge a little bit more than the amount it would cost to get everything for the parties weekly, as well as show advertisements to help bring in profit, and pay my employees, and myself. I don’t have a clear picture for what I want to happen next for my business, as that is something that I have to see where society is in about 10 years, but to keep my business around I will adjust it as needed to follow new trends and keep my business relevant. I hope to keep my venture growing for as long as possible. This business will be kept in the family, and I hope that each CEO will do right by this company to keep it around for generations. I will have other avenues of work, so in 10-15 years I hope to be grooming the next CEO, and this setup that I am implementing now, should help with doing so.
2. I unfortunately didn’t complete the first venture concept, so in turn I didn’t receive any feedback.
3. Since I didn’t complete the first venture concept, I didn’t have anything to change, this venture concept will be my first and my last.
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