As of now, you are already aware of the basic understanding of website application & mobile application and how they are giving fruit full results in making your business brand and increase your sales.
Basically The Web or Mobile application which is build as a platform where multi vendors / merchants / service provider / companies registers to provide their products or services to end customers are called as Multi Vendor Market Place application. If it is for Web then it is a Market Place Website and If it’s a mobile app then we can call them market place mobile apps.
What’s a benefits of having Market Place Application to make a business?
Usually Market Place model is a separate business model which functions as a business and does not relate to a single business. What I mean by this is Market Place either on Web or Mobile platform is a standalone business whose primary feature to provide the platform to other businesses and market this platform to give benefits to others businesses and earn commissions from each sale or selling subscription plans to business to advertise on this platform.
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Following are the various benefits of having Market Place Business Model if you want to enter into digital world of web portals & mobile apps and want to earn some good money
- No Need to have a big infrastructure setup to open the business.
- No Need of heavy investment for Stock purchase or machinery etc.
- Market Place Applications are scalable business models for recurring profits in the form of monthly subscriptions or commission from the each sale from other businesses.
- Only business model where you need to just focus on getting traffic to your market place website or mobile app to market other businesses.
- You can increase your geographical area with less efforts as compare to stock based brick or mortar business operations.
How you earn money in the Market Place business model?
There are many different ways where you can earn good recurring money in the Market Place business model by providing common platform on web & mobile apps to other businesses.
- Commission Based Where You can charge a fixed fee or fixed percentage from each sale of business products or services through your website or mobile app. This model is more popular among these days as it called as pay-as-your-business-grows. It doesn’t require any upfront cost from other business to subscribe with your offerings on marketplace platform.
- Subscription-Based, Where you can charge fixed packages to the business to provide some features services for a particular period of time like monthly, quarterly, yearly, etc.
- Listing based, Where you charge per listing from the business. Prices depend on how many listings they post on your platform. Listing basically is a web page with the business info & their service descriptions.
- Advertisement, Where you charge fixed money to place a promotional banner on your website or mobile app. Different places can cost differently.
- Affiliates, You can sell related product or services on your platform those are similar & useful for visitors to your market place platform.
Famous online Market Place models
Although there are several market place model based startups coming & originating these days, few of them are well-known and most popular. Any online platform can be a marketplace where it server particular niche of the selective business industry.
Here are the list of most popular online market place models run on Web Portals & Mobile apps.
- Room Booking Platforms – Hotels, Motels, Guest House, Vacation Rentals, Holiday Cottage, Country Side Homes, etc. Such us Airbnb, Booking.com, Vacation rentals & many others. On these platforms property owners/landlords register their property to rent them for a particular charge. Platforms earn a fixed fee for listing or commision from each booking.
- On-Demand Food Delivery Platforms – On this type of Market Place various restaurants, food outlets, kitchens present their food menu available for order by customers & they ( Restaurants / Platform Staff ) deliver ordered food at the doorstep of customer address. Such as Foodpanda.com, Swigy.com, Foodonclick.com, etc.
Ecommercemarketplace Platforms – Different vendors registers, upload their products to sell to the platform users. This is the most popular marketplace business originating from initial days of the internet. Some popular business names are Amazon.com, eBay, Alibaba, etc.
- Service delivery Market Place Model – Where different
sevrice providirslist their services like saloon, accountant, attorney, tax consulatants, etc and gets the business leads from the platform.