Handy – a services marketplace raises investment quite successfully recently

Online marketplaces are quite popular owing to its structure. It allows buyers and sellers to meet and complete the purchase. The buyers and sellers can conduct negotiations, and purchase the products or services as per their requirement. Online marketplace development is popular for both products and services; the two marketplaces are completely different from each other as the needs of both the marketplaces differ specifically from ecommerce development perspective.

Service Marketplace: An Overview

Unlike product marketplaces, services marketplaces development are considered for  for a particular niche. You will see that product marketplaces often cater to wide categories. But, in case of services marketplace app it is more targeted. There are different services marketplace that offer different types of services. There are several marketplaces that cater as jobs portal. This place serves as a meeting point for potential hirers and hires. Other service marketplaces include those which offer services for odd jobs etc.

Here, the buyers are basically the hirers (households, potential employers etc.) who post their requirement. Addressing the requirement, the portal will find suitable options and send it to the dashboard of the hirers. Based on the specific requirement, the hirers will choose their option. The final call will be based on the negotiations. There is no limit to the services marketplace; it can be created for the various services as well as category niche.

Popular Services Marketplace

Online services marketplace is gaining massive popularity among start-ups. A lot of start-ups are pledging funds to start specific niche based online services marketplace website. Investors are also looking to fund such marketplaces. Why this sudden rise in popularity? It can be attributed to hyperlocal delivery model and on-demand service availability, which has majorly worked towards making this setup a popular one. There are a lot of services attracting this theme, but the one that is being majorly followed or adopted is the marketplace where you get the necessary skills to conduct odd jobs around your home. From plumbing to electrician, all services are being listed out on such services marketplace, which you can readily acquire, that too. Here is some of the popular services marketplace known for such odd service hiring.

Thumbtack

Thumbtack offers to be the one-stop shop for local services. You can hire services ranging from chef to plumbers on this site. Once, you post your requirement on this site, the providers begins bidding for you. This is more of a job lead platform, and the highest bid has been around $600. It pioneered in this services platform segment. This application is more like the yellow pages listing done online.

Handy

Handy is an excellent example of two-sided marketplace which offers residential and other cleaning services. It offers services to about 28 cities in US, Canada and UK. It boasts of about 80% return rate. Along with the web application, handy has also indulged in ecommerce app development. You get the availability details as well as the vendor details on this platform. You can check the different services as well as book a cleaning service using this platform. It has been created specifically for the cleaning niche It is a similar business model to that of Thumbtack, except for the difference in the services offered.

TaskRabbit

TaskRabbit is an online service marketplace, wherein you get all the providers of different household tasks like assembling furniture, cleaning, organizing events etc. You can pay for the services you hire online in the most secure way. While this platform is definitely giving you all the necessary services at your convenience, the platform has no control on pricing structure. Again the platform does not offer consistency and transparency in services as against its competitors. That’s the reason why TaskRabbit has not gained the popularity other online marketplaces have gained.

Development Approaches

Services marketplace have a unique strategic/intelligent revenue development approach, and it depends on the way the services are being targeted. Typically SaaS based marketplace technology is initiated to develop the services marketplace. This does not follow the typical ecommerce development structure or approach.

It is a software licensing and delivery model, where the software is licensed, and it is centrally hosted. It is the common delivery model for most business applications, and for those considering on-demand delivery, as in the case of services marketplace, this is the ideal development approach. It is convenient to manage the third party vendors, who are essentially an important part of the services marketplace. Again, it is ideal for collaborative approaches, and that’s precisely why it is used to develop services marketplace. You will need to consider payment flow development and ecommerce payments when designing this marketplace. The simple reason being, you don’t want to suffer on the pricing or secure payment model

If you want to go for similar ecommerce development, using ASP.Net framework and SaaS delivery model, you can connect with us with your service idea.