These uncertain times call for unprecedented measures to ensure public safety when it comes to accommodating new rules related to the most important commodity of survival that is food. Estimated to be valued at $138 Billion in the coming two years, the food delivery market is growing at an unexpected range and is making way for the aspiring entrepreneurs to start their journey to success. This article will resonate on every feature a food delivery marketplace app should feature.
The statistics are in the favour and the food delivery business is seeing an exceptional rise in the time of the pandemic. Since the general population now feels much safer to order food at their doorstep rather than going out and worrying about the social distancing, this article will present you an actual guide to a successful food delivery application development.
When a business model reaches a popularity milestone that is easily explained with its market share, many aspiring entrepreneurs wish to embark on the same journey. Since the food delivery market has not reached its saturation as of yet while at the same time showing promising results, it is high time to jump into the same and expect a phenomenon ROI.
One of the most lucrative options during these uncertain times would be starting a food delivery marketplace app that can offer a platform for the small business owners to increase their revenue while at the same time increase a ton of business opportunities for the owner himself. A win-win situation for people looking to start a business, increase their reach, double their revenue or embark their entrepreneurial journey.
Here are some of the notable statistics of food delivery business:
- The food delivery market share is expected to grow by 9.9% per year as the major world population is looking at online means of getting the food delivered at their doorstep.
- The market value of the food delivery business is expected to reach $156 billion by the end of 2023.
- Considering the recent growth rate, the food delivery industry is expected to hit a profit of $300 billion by the end of 2030.
Since the increasing market share brings many opportunities to grow for an entrepreneur, at the same time it has been responsible for increasing the competition as well. So, how can one lead to the path of profit with a food delivery marketplace app? Well, the team of expert developers at Apps Maven are going to explain to you the entire ecosystem from starting to the end that is being carried out to develop a food delivery marketplace app that can offer you an entrepreneurial edge.
Understanding Food Delivery Marketplace App Ecosystem:
The food delivery ecosystem works in four steps:
- A custom mobile app is developed for the customers via which they can order food online from various restaurants, adjust the quantity, check out various menus and pay via secured payment gateway or COD.
- The order placed by the customer is then transferred to the specific restaurant which then prepares the order and hands it to the delivery agent
- The delivery agent via his/her custom app get to know the address of the delivery, the payment mode and more
- The admin of the marketplace app is in charge of handling everything at hand via his custom app.
Business Models Available:
Single Restaurants –
The application will allow the customers to order food from your restaurant via your dedicated online food-delivery app with custom menu options, secured payment gateways, discount offers and much more.
Food-Delivery Startups –
The application will allow you to automate your food dispatch, delivery as well as tracking with an already established food delivery app.
Restaurant Chains –
The application will allow you to get a dedicated customer base across all your restaurant locations thereby offering a guaranteed ROI.
Revenue Models: How to Earn Money with a Food Delivery Marketplace App
Multiple monetization methods can be used for earning money with a food delivery app or a food delivery marketplace app. The admin can also combine various revenue methods in a single app to earn maximum profits once the app picks up the pace.
1. Delivery Charges:
The business model of single or multiple restaurant chains can profit with this revenue system. The restaurants are bound to offer delivery charges for the home delivery of the food to the admin in charge that is offering them a pathway to get more customers with a customized application as well as a delivery agent.
The business model of food delivery marketplace app that brings in multiple restaurants at a single hub profit with this revenue model. All the restaurants registered with the marketplace have to offer a specified commission from their total orders placed to the marketplace in charge/admin. This is one of the most sought-after revenue models currently preferred by millions of entrepreneurs.
3. Price Surge:
Since the admin is in charge of handling the payment, pricing as well as the revenue generated from the app, he/she can also surge the prices of certain items in the menu when the demand is too high from the customer side. Though this revenue model doesn’t guarantee large orders, it sure can churn out double the revenue in a single day.