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Category: Millionaire’sClub

Finding Love For Millionaires

Posted on June 1, 2010
Patti stanger millionaire matchmaker INC – June 1 - Ten years ago, Patti Stanger
started Millionaire's Club, a matchmaking service for millionaires.
Today her business idea is a reality television hit series called
Millionaire Matchmaker on Bravo. Here is an interview with Patti. 

Q: How did you decide to focus your personal matchmaking service exclusively to millionaires?
A:
There are 110M single people in the United States. Then you've got the
top 1-2% who are really single — these high-wealth individuals who are
always exchanging wives — and they really need some help. 

Q: How did you appeal to that niche market?
A: You have to find things that nobody has and that they need. 

Q: What has been your biggest challenge?
A:
My first year in business, I made a million dollars out of my house.
The more success you have, the more business gets thrown at you. You
really have to learn how to say no. 

Q: Did you ever want to quit?
A: It is
hard work, and it'll suck the life out of you, because you're dealing
with people's feelings and problems. Sometimes, you cry yourself to
sleep, asking, "Do I really want to do this tomorrow?" Other days, you
get a call saying, "You're invited to my wedding".  I don't think there
can be any greater joy or any greater high.

Q: How'd you get your own TV show?
A: Once I started the
Millionaire's Club and Marie Claire magazine did a feature on me, then
everybody came to me. But at the same time, I did my homework. I got
involved with a lot of producers. I pitched my story.

Q: Who are your worst clients?

A: I get millionaires who call me and want me to work for them for free. There's nothing worse than a cheap millionaire.
FULL ARTICLE @ INC

See all posts on Millionaire's Club

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A Matchmaker With A Rich Niche

Posted on May 25, 2010
Patti stanger1 WSJ – May 25 - Patti Stanger is the owner of The Millionaire's Club, an elite matchmaking service based in L.A. She also hosts Bravo's reality show "The Millionaire Matchmaker."

Q: Your first real job in matchmaking was at Great Expectations, the oldest dating service in the U.S. What do you consider your first professional match?
A: I dated a guy and he liked me but I didn't like him. He said to me, "If I give you $10,000, will you find me my wife because I want someone like you?" And within a year, he got married. 

Q: Why did you stay in the corporate world so long?
A: I was a VP of marketing. I was always a corporate Fortune 500 girl. I had to realize matchmaking was a business. Silicon Valley was booming with millionaires coming every weekend trying to get their "hottie patottie" and find their future wife. They didn't know how to date, they didn't know how to talk to girls.

Q: So, your job isn't just about matching people up for dates or relationships? 
A: Coaching is three-quarters of what we do in matchmaking. 

Q: How is your club different than other dating services?
A: We offer unlimited dating because the process is never-ending. 

Q: How much do clients pay for your services? How are they chosen?
A: Fees range from a base membership of $40,000 for a year of unlimited dating throughout the U.S. and Canada to a VIP or Diamond Membership, which runs from $150,000 to $200,000.

Q: Why don't the potential dates have to have money?
A: Successful men want to always take care of their women financially.

Q: How do you stay in business, considering love is so unpredictable and can go sour?
A: I have a great track record, and I have never been sued. If I can't find someone for someone, I refer them out. I have an affiliate division of matchmakers all over the world that I work with. 

Q: If you weren't a matchmaker, what would you be?
A: I'd be a chef.
FULL ARTICLE @ WSJ

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Matchmakers Thrive Despite EHarmony, Match.com

Posted on February 14, 2010

Matchmaker working LA TIMES – Feb 14 – "Matchmaking should have been dead by now," said Mark Brooks of Online Personals Watch, a site that's been tracking Internet dating since 2004. Instead, the opposite has happened, he said. Matchmakers not only have survived but are thriving, having been aided and legitimized by the entity that was supposed to have killed them off — the Internet. Like social networking, which had many dating industry experts inaccurately predicting the demise of paid Internet dating sites, Internet dating hasn't killed matchmaking, but fed it. In fact, the three go hand in hand, leading relationship-minded singles to ever higher levels of paid service. Though social networking sites such as Facebook may bring people together and do it for free, there's no guarantee that those brought-together people are available and looking for a relationship. Matchmakers charge $1,000 to $100,000, depending on the exclusivity of the service, the number of matches and how willing they are to go the extra mile.

"You're the therapist, the mother, the best friend, the sister, the nonsexual girlfriend. You have to be everything," said Patti Stanger, star of the TV series "The Millionaire Matchmaker" and proprietor of the L.A.-based Millionaire's Club matchmaking service. Stanger charges men $25k+ a year and female "millionairesses" $55k for 28 months of unlimited introductions. (She finds her female clients take longer to match.)' "

Increasingly, Internet dating is bringing in a matchmaking component. Match's Daily 5 delivers "five matches based on our prediction of which two people would most want to engage in a conversation together," said Match CEO Greg Blatt. Another matchmaking feature called Singled Out, is for "when we have a match with a stronger likelihood of connecting and want to highlight that to our users," Blatt said. "A lot of people put their relationships on the wrong course because they select the wrong people," said Gian Gonzaga, senior director of R&Dfor eHarmony. "A lot of the things that are powerful forces for initial attraction are different from what makes a relationship successful."

"Women are very attracted to the [matchmaking] concept because it's private. They can't be browsed," said Julie Ferman, founder of Cupid's Coach in Westlake Village, a matchmaking service that charges $2,500 to $25,000 annually for an average of 2.2 introductions per month and takes both women and men as paying clients. Matchmaking is strongest among thirty-, forty- and fiftysomethings, according to Ferman. Her average client splits the difference at a median age of 46 and makes at least $50,000. There's thousands of singles using hundreds of matchmakers — eLove, It's Just Lunch, the Millionaire's Club.

It's worth dropping $5k to $10k on a matchmaker if you've got the cash and are looking for a serious relationship, but online sites that charge or have extensive questionnaires can also be a good option, Brooks said. Nonetheless, matchmakers may not have many prospective dates for men in their 20s or women in their 60s, he added.

"The Internet dating services are flawed because they lack service — they have great price, great choice, but not a lot of service," Brooks said. "The matchmaker services are severely flawed because they lack choice."
FULL ARTICLE @ LA TIMES

See all posts on Match.com         See all posts on eLove
See all posts on eHarmony          See all posts on It's Just Lunch
See all posts on Cupid'sCoach

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