Can you start a social network website and profit by charging membership costs?

Question by Jeffersons: Can you start a social network website and profit by charging membership costs?
I was thinking of starting an social network website with an annual membership charge. Can I make good money this way? Possibly at minimum 6 figure income?

Best answer:

Answer by Nathan
You can, but you will need to come up with something new that people will be wowed by. You have lots of competition!

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