It takes money to make money right? Well that’s what they say; but starting your own online dating business doesn’t have to cost a fortune, but it will take a few bucks if you want to make it a site that people will enjoy. If you are really serious about building a community and providing a valuable service to your members; then you’ll want to be thoughtful about where you spend your cash to get things started.
So how much does it cost to start an online dating business? This is probably the first question you asked yourself when you first got your idea. Unfortunately there is no simple answer to this question; it could be $500 or $50,000 or more really, much of it depends on how you choose to start. There are many directions you can take to get up and running and so many different factors that can have an impact on your total cost.
I’ll give you a few scenarios to help you set a starting point for your budget.
Before you even start building your website you’ll need to choose a name for your dating website and purchase your domain name through a domain registration company.
Cost to Purchase Hosting and Domain = $41.88/ annually (BlueHost)
BlueHost includes your domain name Free with your hosting package; saves you a few bucks. Your hosting account will also handle your email as well.
Having your logo design is a very important step. Sure you can make a cheapy looking logo in word or find a even more cheapy template online. Making room in your budget for a logo is a good move. The branding you create for your dating website will help win over new subscribers and have a huge impact on the success of your business. While your logo doesn’t have a to be extravagant it absolutely much look clean and professional on all platforms. This is why you pay someone to design it for you if you can’d deliver professional results on your own.
Custom logo design by professional = $299 (99Designs)
I’ve used 99designs and they offer great service. When you sign up you will have tons of designers competing for your business. They submit a design and you choose. If you don’t get the results you want. There is 100% money back guarantee.
The next decision is all about the website. You have a few choice to including building it yourself or hiring someone to do it for you. These two options will take up the most of your start-up cost.
Let’s break down the cost of both options the DIY route vs. hiring a web designer or firm.
Doing It Yourself
Using a Dating WordPress Theme = $58 (Sweet Date)
WordPress is a website building tool; when you install this particular theme “Sweet Date” you’ll have a full featured dating website.
Purchasing Dating Software = $399 (SkaDate)
SkaDate is one of the most complete dating software platforms; plus also free updates for life
Simple to enhanced data driven interactive dating website = $8,000+
$5000 is a very low entry price for a custom dating site; if you outsource in india it may start around here; The average custom site could easily start around $15,000 or more. This is just an estimate from my experience in the industry. If you are quoted a price cheaper than this you may want to ask why and make sure you’re getting what you are paying for.
Next you’ll want to have a way to accept payments if you are going to set a cost for membership. Even if you choose not to charge for membership you will want to be able to take credit card payments for advertisers or anything else you would want to charge for.
There are so many online payment systems that are affordable and cost nothing to setup. You only pay a percentage and small per transaction fee when you accept a payment
Free Online payment processing Paypal = $0
Stripe is another company I’ve used = $0 (2.9% + $.30 per transaction)
Marketing and advertising is a very important expense that often times get overlooked. I’ll be discussing more detail advertising and marketing strategies on the blog but for now I’ll outline a few to help you put together your
Google Adwords Budget = $250/ month
This is still considered a small budget but it’s a great place to start for paid Google search placement.
Facebook Ads Budget = $100/ month
Facebook has super targeted advertising and it can get your cost per click down if your ad is popular. Be sure to take advantage of the laser targeting features with Facebook ads.
Paid Banner Ads = $150/ month
Research blogs and forums that your target singles would hang out and purchase banner ads. A good place to start to research blogs and purchase banner ads is BuySellAds
These are 3 quick ways to immediately start promoting your website. Of course there are free options like email and social media that you should have in place as well.
It doesn’t matter if your site is free to join or you charge a fee to signup; marketing is going to be your biggest expense. Even before building your website at the end of the day marketing is going to be ongoing and you will have to be creative. The marketing budget that I’ve outline above are very low end budgets to get you going and learning about the different advertising platforms.
So to wrap this up we’ll sum up the following cost to start your online dating website business using
the following methods.
WordPress = $898.88
Software = $1,239.88
Hire a web developer = $8,840.88+
Please keep in mind that these numbers are purely estimates you can in many cases pay tons more or less to get your online dating business started. Please use these numbers as merely a guide or a starter budget to help you start to visualize getting started and what type of cash is involved in getting up and running.
Don’t let money slow you down if you believe in your online dating business niche go for it. There’s no time to waste. Work at your own pace and do what you can when you can do it. Even if it’s registering your domain name and getting a simple logo design to start realizing your vision.
So what are you waiting for take the first step and register your domain name right now.