My company would be a Calgary-based speed dating company called Love Connections. The company would offer residents of the Calgary area ages 25 to 35 the opportunity to meet other local singles in hopes of making a love connection during a one-hour speed dating session. Each session would cost interested parties a $30 fee, which would include one free beverage. All sessions would take place at various coffee shops throughout the city, on Tuesday evenings.
The size of the business would be small as coordination of efforts to run the session and to secure interested parties would be minimal e.g. advertise the service for free on Facebook, Kijiji, etc., with links to the main website developed and maintained by the owner and 1 to 2 staff members.
Some of the costs associated with the business would be:
- Car/car insurance - Fixed
- Labour - Short run depending on demand
- Advertising - Continuous and variable (long-run) cost for advertising.
- Phone/Internet - Fixed cost (contract)
- Cost of supplies (computer, timer, pens and paper, conversation topics, etc.) - Variable
- Mileage - Variable
An immediate weakness seen in this concept is that busy professionals tend to be just that. Busy. So why introduce a service that they are potentially too busy during the work day (at lunch) to utilize? I would consider changing the business to "It's Just Dinner" and arranging sessions in the evening.
One of the company's strengths that Love Connections doesn't offer is having each potential participant fill out a survey to indicate what they're looking for in a partner, and to match them with a particular individual that meets those 'qualifications'. With Love Connections, connections are based more on the emotional and physical "vibe" that is generated from the excitement of the speed dating sessions.
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