Our business is a service that is provided for college
students online and on an app. This service is available for
them 24/7. This business is in an oligopoly because our
competition is only with a few other companies. Our
company will be a partnership between four partners and
all four partners will own 20% of the company while the
other 20% will be split between research and other needs.
We chose this type of business because it is easy to form,
there are four people starting the business so there is more
money invested in the business, we have four partners so
we are capable of coming up with more ideas, and each
member has a specific role in this partnership. If our
business fails, we all share possible losses.
➔Our market is focused on college students or
people around that age
➔There are other competitors but ours’ has
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An app as well as a website
A different focus - College students
Different features based on college
In order to reach our customers, we plan to
reach out to them by advertising to College
Reps and hire some to advertise to their school
about our service that is available for them.
Social media is also a large way to reach our
customers since Twitter, Instagram, or
Facebook are highly popular pieces of social
media, especially for young adults. College
students are our main focus as customers.
➔ Cost: At least $20,000 to start off
➔ After, we plan to finance our business with our profit as
well as other businesses who sponsor us/pay us to
advertise on our app
To get our service noticed by customers, other than social
media, we also plan to advertise through television, radio,
billboards, newspapers/magazines, as well as having
College Reps hand out flyers throughout every college
campus. We will have small advertisements on popular
websites other than social media such as youtube.
Along the lines of having our service be free for the standard
membership, there is an option to upgrade to the premium
membership/subscription that is $10 a month. This premium
option includes the extras of more detailed questions to make
the search more accurate/precise, has an expert advice/tips
section available through chat, and a option to have the site
do the matching for you, leaving the work up to us!
To start our service off until we are known, we will have
a free first month subscription trial to anyone who is
interested in our dating site. Only the first month will be
free, and then the following months while being
subscribed with the premium option will be charged.
This gives consumers a chance to have an experience
with our service and get them engaged, possibly making
our service popular and be spread around. This free
promotion will catch the attention of customers to sign
up and try it out!