Two’s Company founders a perfect match

Two’s Company is finding love for its members, and takes the challenge very seriously, writes Geoff Percival.

It’s quite sobering to hear the head of one of the country’s leading dating agencies downplay Valentine’s Day as a money-making ploy and denigrate (some of) the plethora of online players as cynical money machines that care little for their members’ feelings.

But, far from being some cantankerous killjoy, Bill Phelan — co-founder of Dublin-based introduction agency Two’s Company — is more concerned about making sure his firm does things the right way and offers people best value for money.

“When people sign up with us and we take their money, we also take responsibility for trying to match them with their ideal long-term partner. That’s a big responsibility, because you’re dealing with people’s emotions and feelings,” he explains.

And it is a responsibility. Two’s Company — which is based in Dún Laoghaire, but has agents in Cork, Limerick, Galway, and Belfast — is different in many ways than online dating sites.

Many of those offer free membership and target a younger market not necessarily looking to settle into a lasting relationship at first click.

Two’s Company is an offline (its website only exists to market its services and set out its terms) introductory service, which charges customers between €600 and €2,500 for a half-year’s membership, depending on their requirements.

What that means is that you pay €600 for the standard package (a personal assessment and any number of introductions with potential partners over a six-month period); €1,000 for the ‘gold’ package of being matched with people particularly suited to one’s lifestyle, and €2,500 which, seemingly, buys someone so like you — in every way — you may end up marrying yourself. Mr Phelan admits to having got into the dating game out of curiosity.

A former property developer who felt the need to change career when the economic downturn took hold — “if Lehman Bros hadn’t collapsed, I mightn’t be doing what I am now,” he quips — his new journey aptly started when he met his current partner (both romantically, and in business terms) Jennifer Haskins, via a now defunct dating agency — the poor service offered by which (“it was a fluke that we met through it”) led both of them to look more closely at the possibility of running a better style of service.

The move ultimately led them to establish five years ago one of the world’s most unique introductory services agencies. Privacy is a watchword — Mr Phelan pointing out that many adults looking to meet partners don’t want to be seen openly searching for their prospective partner online.

But, two other aspects also set Two’s Company aside from competitors — it is the only agency with a 50%-50% male/female ratio amongst its members.

The considered average is 60% female/40% male, but the reality is suspected to be nearer 70%/30%. The equality offered by Two’s Company is seen by its female members —a mix of company executives, divorcees, widows, and singletons aged anything between 30 and 80 — as a huge attraction, as they’re more likely to meet a reliable match without sifting through too many non-starters, as it were.

The company will also, shortly, become the first regulated business of its kind in Ireland, signing up with the Association of British Introduction Agencies, as there is no similar body here.

Mr Phelan claims not to be in this game to get rich, but there’s real money to be made nonetheless. As with gym memberships soaring in the new year, thanks to people’s eagerness to turn over a new leaf fitness wise; the first few months of any year see many sign up for matchmaking services in a bid to shed their single status.

An estimated $20bn (€14.5bn) was spent on Valentine’s Day gifts and celebrations globally, this year. While no where near as lucrative, the dating industry is growing.

The best estimate for dating/introductory agency spend is around £2bn (€2.4bn) globally per annum; and that figure would grow a lot more if an increasing amount of businesses charged for membership.

A quarter of all weddings held in New York last year involved couples who met via introduction agencies. In the US, alone, something like a third of all married couples met online.

And consolidation is growing amongst service providers — US industry leader, Match.com is a particularly keen acquirer of smaller enterprises. Indeed, Two’s Company has been approached, by UK-based agency Berkeley International to act as its Irish-based franchisee, although it has turned down the approach.