(We originally posted this in 2020. You can read more of our original ideas in our archive. You can order a business plan of this idea here.)
Problem: Dating during a pandemic is extremely difficult: people are less likely to want to meet strangers because they are ultimately unsure about how healthy they are and/or whether they have responsibly been trying to stay COVID-negative.
Solution: A business which creates real-life experiences like Love Island, The Bachelor, or Married at First Sight for individuals willing to pay for a “love retreat.” This business would compete directly with dating apps and companies like the Match Group (which currently does $2 billion in revenue and is valued at over $28 billion) by offering in-person alternatives to these online sites.
This business would organize luxury retreats, complete with COVID-testing, customized-matching, and Twitch (or other live-stream platform) streaming to a live audience (if attendees opt-in for this option). Part of the hope would be to democratize the value of these reality TV shows by creating a reality where these TV shows provide value for contestants rather than only instigating drama.
One show that blended this mix of reality and value quite well was “Next in Fashion” (which unfortunately was canceled after 1 season). During the show, some of the designers were completely new to the complex and technical concepts they were required to complete. Thus, since they were placed in pairs, these designers helped each other out to learn and develop novel abilities. You can imagine that even after the show is completed, designers will look back on this experience knowing that they had learned something new from going on the show (in addition to competing for a cash prize of $250k).
Generally, there is tons of data on dating apps like Tinder; especially on the probabilities of meeting in person.
When asked how they researched a match before meeting in person, 60% of Americans admitted to looking at social media profiles and 55% for searching their name online.
A surprising one in seven—15% of respondents—said they had run a background check on potential partners before physically meeting them.
A paid-for “Love Retreat” platform would be phenomenal in that it eliminates the hesitation that millions of people feel before going on a first date. Because of this business, everyone is already vetted.
Monetization: Selling the rights to attend these retreats.
Contributed by: Michael Bervell (Billion Dollar Startup Ideas)