How to build a two sided Marketplace and be successful

how to build a two sided marketplace

How to build a two sided marketplace and be successful. First of all, what is a two-sided marketplace? A two-sided marketplace is an offering where both vendors and buyers gain due to the principality of buyer and seller.

For instance, the cars of your is broke down. You will want to get repair as soon as possible. Due to the advent of mobile apps technology, your first preference would be going for apps like GoMechnic or Pitstop to find a suitable mechanic. The app will give out a list of suitable mechanics in your vicinity and you can get work done by hiring a suitable professional.

This whole process is a two-sided online marketplace. In the above situation, the marketplace is tending to the needs of both service provider and consumer simultaneously. Thus, a 2-sided marketplace creation.

Besides, many online platforms use AI and machine learning aspects for sellers and buyers matchmaking.

In 2020, the sales figures of the online marketplace were 2,67 trillion.

So, if you are thinking of venturing into the footsteps of marketplace giants like eBay, Airbnb and many others, this blog is your go-to guide.

This blog will tell you how to build a two-sided Marketplace and its overview. 

 

how to build a two sided marketplace

Business Model for Marketplace 

The basics here is to create a platform that can bridge the gap between the buyer and sellers. Plus, the platform is should be trustworthy that can find a suitable exchange value for sellers and buyers.

Thus, the first step in this direction is should be deciding your business model that’s fits your eCommerce space.

 

Buyers Two-sided Marketplace 

`The today business marketing strategies while formulating their strategies first understand their audience characteristics and then proceeds on.

Nowadays, you will see consumers are reluctant to pay shipping charges, instead, they look for alternate options. Many don’t like to wait for their product deliveries or wants to try before buying it.

The two-sided marketplace will not only give consumers lesser shipping prices but better delivery choices. As there will be more businesses which means a more competitive market, this will give consumers a driving seat. Moreover, a localized vendor will be able to provide the same product or services at lesser costs and in time.

Sellers Two-sided Marketplace 

What is a sharing economy? An economic system in which assets and services are shared on the internet either for free or a certain fee.

Big marketplace giants like Uber or Airbnb has emerged as leaders in sharing economy. Sellers Two-sided Marketplace can leverage the same sharing principle for their growth.

Let’s apply the renting business in a two-sided Marketplace.  Because of sharing concept, both tenant and landlord can meet their opposite needs simultaneously. The consumer is coming because he can easily find a place to live. But the question is why the seller should be coming to your platform.

User is coming to your app/website to avail services they wish but the seller is purely coming on for better reach and higher value.

So, it is important to offer sellers a better value and toolset. Higher traffic on your website/app and the popularity of the platform should be enough to incite sellers to join you.

how to build a two sided marketplace

Start-ups Two-sided Marketplace 

For entrepreneurs, a two-sided marketplace business is the older better it is. Because of the value and better reach, the older ones can drive it more efficiently.

Startups can use networking leverage when it comes to how to build a two-sided marketplace. They can work simultaneously both on seller and buyer to why they should be coming to their platform.

They can offer attractive offers to sellers to come and enlist here, whereas they can offer consumers freebies and discounts to come.

 

how to build a two sided marketplace

Two-Sided marketplace Revenue Model 

  • Commission fee – The owner can charge a certain fixed fee on sellers earnings
  • Subscription fee – When your marketplace become a popular figure, you can start subscription fees for additional services.
  • Listing charges –  You can ask sellers a certain amount for their product listing
  • Advertisements –  Place other brands and businesses ads on your platforms

 

how to build a two sided marketplace

Finding Right Audience 

Identifying the right audience and then targeting it is a key component of any business strategy.

You don’t want to sell coffee to a tea-lover that’s why audience targeting becomes so important.  Leverage your business system in the community can actively participate and address the issues to find the right audience for your business.

how to build a two sided marketplace

Funds 

  • Personal savings, and beginners luck and then proceeding on with cash from initial sales.
  • An angel investor, especially if you wanna go for a solo run.
  • Crowdfunding
  • If you want to create a larger marketplace, go for venture capitalist firm funding.
  • Y-combinator or seed rocket

The next step should be on your mind after achieving the above steps. It should be the creation of MVP in your effort on how to build a two-sided marketplace.

MVP

MVP or Minimum Viable Product is defined as the final product that can be shipped to your customers.  More so, this product version may not include all features at the start as it will be most probably a beta version.

Here an experienced developer can help you ride out the rest of the process of how to build a two-sided Marketplace.  With more inputs from both buyers and sellers, you can test and experiment with your MVP.  Thus resulting in the final version of your two-sided marketplace with all end-to-end features.

8 Strategies for Businesses to Survive and grow in Covid-19

online business ideas

As the situation as of now, businesses are struggling to navigate their operations So what if we tell you 8 Strategies for Businesses to survive in COVID-19. The Covid-19 outbreak is slowly choking the life of may vectors and horizontal businesses. To say the least, every minute we are seeing a challenge. Rising and then decreasing curve of Covid cases and, its toll on the people has put businesses in great predicament . Government is doing their best to keep it controlled and indeed, it is the crisis businesses have not seen coming at such large scale. But on a positive note, we are adapting to this new normal.

Several states have gone the way of mandatory lockdowns and vigilant businesses programs to ensure economy holdup  . Still, businesses are incurring some losses, and it could be a year or two before we are back to previous normal.

The reports of the National Federation of Independent Business Research Center is saying only one-quarter of business is affected. Moreover, it is the future we should be more worried than present

An uncertain future is held to bring more bad business than uncertain present.

To conclude, we have come up with some of the best business strategies for businesses to navigate covi-19 crisis. All these strategies are intact with  future disruptions and will improve your businesses drastically.

 Lessen Your Cash Flow Constraints 

 

  1. Discounts and coupon codes to clear up stock – One of the best 8 Strategies for Businesses

    – Customers as of now will focus more on keeping essential goods than the non essential ones. To deter this challenge business can adopt number of techniques. Sell your stock at  huge discounted prices or give them as a gift along  with purchases. Do a charity of your stocks and in return get the tax waivers. In the end, this will increase your cash flow, clear deadstock and more room for essential stock.

  2. Technology Integration –

    Efficient technology usage can be a win-win situation for both businesses and customers. Integrate technology to adopt to new normal. If customers can’t go out, reach out them via personalized business apps/website. Built your own delivery channel or partner with an existing one to keep free flow of your products right at customers doorstep. Moreover, it will keep the corona check and keeps your business running.

  3. Government grants or assistance 

    – All across the word, government are providing relief and economic packages to businesses and people. Additionally, tax waivers are being given to businesses especially small ones. Your business can obtain low interest loans and get the necessary cash injection via these government schemes. As of now, Indian government have released a 5-part stimulus package adding up to Rs 20.97 lakh crore for all businesses.

  4. Gift Cards

    – If you are business running on this margins, gift card strategy is the best. A gift card will ensure your future survival and meet your immediate cash requirement. Also, a collaboration with local businesses will help you out navigating operations in covid-19.                                                                                                 Furthermore, considered a digital card for no human contact and  advertise it on your social platforms for banding & promotion.

  5. Pre paid schemes

    – The whole world is middle of crisis and what’s keeping it together is solidarity. To tell the truth, people are understanding the predicament we are in.  Most businesses have turned online and  and those who don’t community directs are helping. More importantly, there is a sense of unity in us. Different community based initiatives are step up  to help out small businesses. Businesses can pre plan their sales on this sentiment and help put out words for others. And can directly asked them to pay in advance for essential goods. An people are not shunning it, rather they are coming as big support.

     Improve your Sales Figure 

  6. Social Media to rescue – 8 Strategies for Businesses

    – Social distancing and quarantine sessions have forced most of our time usage on social media. Besides Social media is the new fad for marketing and it does look the future. Instruct your sales team to remain vigilant on social media and start building connections. Moreover, strive towards empathetic & user-friendly experiences to gather new followers and sustain previous ones.

  7. Go Shipping Free

    – As were are evolving more towards online businesses, it is your duty to make lives of your customer easier. Free delivery shopping will only not help people’s quest of more savings but also helps you gain traction online.  Additionally, you can imbibe an option to buy online and pick-in-store. Majority of businesses are already doing it.

  8. Focus more on your high value customers – 8 Strategies for Businesses

    – The 80-20 business rules is now should be your go to option. It  states that maximum of your business earning comes via 20% of your customers. Therefore, it is the right time to target those of your customers. Boost your sales by targeting maximum revenue generating customers , deliver them a text or email and even go for a 1v1 personalized chat experience.

10 Online Business Ideas Investment worthy in midst of Covid-19 – Stackgeeks

build online fitness app

There is no country and continent that is not affected by Covid-19. This chaotic situation has tied hands of both government and people. As a matter of facts, people have no option other than cemented to the four walls of their home.  Indeed the world has made people fall over their heels and due to that we are witnessing some chain reactions of beyond imagination nut what about some 10 Online Business Ideas which you can start in this COVID-19.

Even so vaccines have become available, current situation is there to stay. In fact,  as a society we are forced into looking alternates for our daily activities. And business world is also no different. Technology has turned to be their greatest saviour and businesses have found their mojo back in virtual world.. .

Now the businesses is giving back to society and it is in the most critical times.  Social distancing and Quarantine all that have helped businesses reinvent itself and, creating a better and safe future.

Online virtual  business is the right way navigate covid-19

  • Mobile apps demand – Despite the pandemic hit economy, the mobile app usage expected to grow twice the rate it is now by 2024. Also, the downloads is grown to 183.7 billion and that is 9% more from pre covid-19 survey.
  • Mobile Shopping has increased manifolds. In fact, the Amazon is running out of stock in midst of pandemic.
  • Less human contact means less chance of virus spreading. Contactless deliveries has ensured that and also in process cutting costs.
  • As of now online sections like electronics and Health have seen increase sales of 91% and 109%.

It is quite evident that online business is the way forward now in covid crisis and looming future for businesses. So why not start now and create an opportunity. Existing offline businesses are already doing it  and upcoming ones don’t want to be last in the queue. We at stackgeeks have compiled a list of 10 verticals.  All 10 ideas are in line with the current  business crop and have unlimited future possibilities

  • Pickup & Delivery 

With the current norms, Pickup & Delivery is best business idea to invest especially considering its future possibilities. All online business has either developed their own delivery channel or tied with one. Convenience and doorstep delivery is been a focal point of all businesses today.

The Hills states, “A changing economy means new opportunities, especially for delivery services.”

As a  matter of fact,  every business is in need of robust delivery management system regardless of size & type.

  • Online Education App – One of the best 10 Online Business Ideas

    The current crisis has shut down all educational institutes to shut down and shift to e-learning. Subsequently,  we are seeing a rage of increased online education. What is more, the educational apps have been seeing a tremendous spike in their usage, nearly 300% alone in 20220. This opportunity in crisis has only triggered the shift to online which is bound to happen in coming years. Take example of Byjus or Unacadmey, they are already reaping the fruits of current opportunity as they were the only few offering online learning programs. Online education is the next gen future and start now, build a great learning platform, the more earlier better it is.

 

  • Grocery Delivery

Indeed  pandemic has changed our day to day dynamics. We are now more present on our mobile phone apps than physical activities. Plus, fear of getting corona has  shaped shift our choices. Grocery apps is our now go-to app for groceries or any food item. Further people are increasingly going form offline to online  grocery stores. As of now, the grocery apps like Walamarts, Instacart and Shipt has seen a surge 160%, 218%, and 124% in their downloads.  In short, your online grocery store could be your way to success and lavish life.

  • Medicine Delivery

To start with,  pharma business is of now is the backbone that is helping us withstanding this pandemic and will continue to do. Corona has tied people hands to go for online medical stores. Also, the availability of other life ailments medicines is becoming a major concern. People with minor or major health issues are finding it difficult to find medicines for such ailments. Hence, you could be one of responsible pharmacists tackling all kind of problems with your online medical store.  All you need, a right tech partner  that will easily help you switch to online medical store.

  • Healthcare Consultation

Health care consultation is defining the era of pandemic. While we can’t step out of our homes. online health consultation is helping both patients & medical workers.  Nevertheless remote healthcare is new idea and plays a crucial role both in present and future. All you need is a robust platform online which can be build by any good tech company. Then start offering your services online with your brand name.

  • Food Delivery

Considering lockdown in and out, many food business were struck in a limbo. While waiting for situation to improve seems no longer a valid option. Instead switching to online delivery and adopting is the way forward for restaurants.  The Guardian reports says as consumer is not keen to step outside because of corona, food delivery services have quite taken a rise.  Launch your food delivery business and delight your customers with online food order facility. Also, for non-restaurants owners, they can launch their delivery channel and make tie-ups with restaurant owners.

  • Online Medical Van Booing

Another idea that could thrive in present crisis and make lives of people easy is starting off an online ambulance booking. It will be an amazing idea considering healthcare boom we are seeing right now. Moreover, futuristically this idea can extend to online healthcare booking management system which our present healthcare lacks.

  • Fitness and Workout App – One of the best 10 Online Business Ideas

Digital platforms have turned out to be blessings for gyms & healthcare centers. Covid- 19 has seriously affected those businesses. As per reports of business insider, major gym chains were shut down due to lack of business. But now as more and more turning to virtual workouts & training, fitness industries is back in the business. Nevertheless, this sector should be your investment area and has unlimited future growth.

  • Ecommerce Place

If you are in brick and motar business, shift it online and see the magic. This is a golden opportunity which come once in a while. As the population of world is looking online for their day to day activities, take your business online and deliver now.  Increase your sales, customer reach and upscale your business, this is the time.

As per the Quantum Metric report, online sales have surged 52% from the year-ago period, and the number of online shoppers has increased 8.8% since the outbreak began

  • On Demand Doctors/Nurses/Caretakers

This one is for future, build an app where you can provide on-demand doctors, nurses and healthcare experts.  Start the process by building a robust app with medical expert bookings that can visit user home. Plus, any help or professional assistance you can come to us, we are there to help.

Year 2021 Online Food Industry Everything you Need to Know – Stackgeeks

online food industry

Food Industry growth no matter if it is Online Food Industry has been phenomenal since the last decade and is itching entrepreneurs to not look away. In recent 4-5 years, the food industry has seen a tremendous shift, now more and more verticals of food businesses have started.  There are several big players already like Uber eats, Zomato, Swiggy, Faasos, Grubhub and this trend will continue to grow even further.

Check out these interesting facts

The online Food Industry revenue is expected to reach USD 11,66 M in 2021.

The online Food Industry revenue is projected to reach a revenue growth of 10.6% in 2022.

The User reach in Online food delivery market is expected to reach 16.2% in 2021.

Online food delivery has the largest  segment in Restaurant to consumer delivery with an expected market of USD 5,960 M in 2021.

Are you one of  budding investor and actively looking to invest into online food industry. Then, you are on the right track and the current scenario is fit best to start your venture.

In this blog, we will emphasis on why it is the right time to invest in food industry. Further, we will be looking deeply into the insights and futuristic segments of this industry.

Entrepreneurs Popular Choice,  Invest More, Earn More

What makes this online food delivery business so compelling for investors 

  • Users growth is unbelievable ! This online food industry has 1226 M users in 2017, 1371 M in 2018 and 1533 M in 2019.
  • Revenue growth too is off the charts and indeed a capable niche to develop into horizontal.
  • Online food industry records total of revenue $ 52, 494 M in 2017, $57,855 M in 2018 and $65, 495 M in 2019.

Some Interesting facts regarding the food Industry

  • More than 80% of restaurants are allowing usage of technology into their business.
  • Tools like online ordering, reservation, inventory apps, analytics, contactless deliveries, and much more.
  • USA alone has 60% consumers which orders once a week.
  • USA market will projected an average 58 USD million growth.

Inspiring Online Food Businesses  in Numbers

Zomato 

  • It has 38 M average orders per month
  • 70 M active users
  • 68 USD Million revenue in total

Uber Eats

  • It has 43 M average orders per month
  • 93 M active users
  • $ 2.6 Billion  revenue in total

GRUBHUB

  • It has 13.8 M average orders per month
  • 19.3 M active users
  • 1 USD Billion revenue in total

SWIGGY

  • It has 30 M average orders per month
  • 61 M Active users
  • 67.3USD Million revenue in total

Build your own Online food business 

First of all, there are multiple niches within the online food business. You can pick & choose as per your liking and how much invest front you willing to give in.

On Demand Delivery Model 

  • Order only – JustEat, Delivery Hero and Grubhub
  • Single/Multiple Storefront – Dominos, KFC and McDonalds
  • Food Aggregators – Swiggy, Zomato, Doodash and Faasos

Custom Food Solutions 

  • Specialized Services- BigOven, Yummly, and Wild Ediblesm.
  • Table Booking/Restaurant – Open Table, Eat App, And Resy.

Secondly, a complete suite of technology is advised to go with the selected business model. This will ensure a seamless platform to run your food business which in turn assures acquisition  of both users and providers.

Choose the right tech partner 

  • Start your business with immediate effect.
  • Established your won source code and IP Rights
  • Robust and Scalable Venture
  • Get more creative and flexibility of operations

Afterwards strategies a well planned market strategy constituting both organic and paid aspects.

Reach Out Market         

  • Start it well before the launch
  • Emails, SMS, Social media, display, flyers, banners in social and popular places.
  • Content creation, Create events/contest, phot & video gallery
  • Discounts and coupons
  • Google Ad sense, YouTube Ads, Twitter Ads, Display Ads

Last but not least Future of Online Food Industry 

  • Consumers expects to reach $ 2400.5 million by 2024
  • Revenue expects to reach $ 106025 million by 2024
  • By 2025, online food delivery will reach $ 200 billion.

Why Build online fitness app? How Online Workout a new Normal?

build online fitness app

The growing usage of online health and fitness mobile app is saying a lot about present times. Since pandemic, online workout is the new normal for all workout enthusiasts & professionals. With that in mind, market demand is buzzing with health & wellness mobile apps. So Why Build Online Fitness App?

The online revenue of the Fitness Apps is expected to reached 1,798.9 million USD by 20024

As per Statista, currently there are alone 87.4 million users of health & workout apps in United States

The New Normal has driven all businesses into the virtual world. Covid-19 has worked like oxygen in a fire, with daily surging Covid cases all fitness centres have turned online. As was previously stated governments have across the world imposed lockdown. And in the process confined people to their homes and gyms and workout centres were not ready for this perpetual period. For this reason, gyms and fitness centres incurring financial crisis. But like there is always dawn after every dusk, these businesses have found there’s in virtual sessions.

The New Normal For The Fitness Industry to Build Online Fitness App

With more and more gyms entering the virtual world,  a chain of positive effect can be seen through. Fitness companies no longer incurring losses but turning the tables. As a matter of fact, fitness and gym companies have gained over 200% growth in their subscribers. Now, more audio and video media are being used by these companies for indoor & outdoor workouts guidance.

No to mention this, they are launching on-demand video workouts on different stream channels.  And in the process of adapting to this new normal.  Online consultation of fitness and gym workouts is the new fade and is there to stay here perpetually.

This is a boon especially for new generation entrepreneurs and can be their ticket to unicorn startup. Simply putting, online consultation is your go-to business and very much the first option for all healthcare services

How is exactly online fitness consultation apps are helping out?

First of all, this whole online experience gives you flexibility and creativity which is difficult to achieve in physical centres. Secondly, it is adjusting the fitness centres to adjust to this new normal.  And lastly, it’s easy running a business at the screen of your phone where all advanced mechanism is there to help you out.  Here are the benefits  the fitness companies are driving out:

  • Fitness Lovers Savior – Amidst all chaos, it’s helping business running their services online. Especially for fitness enthusiasts, this turns out to be a treat for them. They can keep their fitness levels as same as before by remaining at homes. In addition, they can now work on minimum equipment due to the availability of diet plans, virtual workouts and personal training.
  •  Multiple Services – Being virtual world, users can access multiple services via one platform. Diet and nutrition plans, Yog sessions, weight loss programs,  athletic body program, shrewd body program and many more all under one roof.
  • Growth in Sales – This whole online experience brings convenience to users and fitness companies have seen a considerable increase in membership programs. Plus, availing of different services under one roof is dictating the increase.
  • Cost Cutting – Because of the virtual world, equipment dependence has become less and people are open to other forms of training.  In fact, companies are now focusing on a number of products for scaling.  Now owners can offer online consultation, workout plans, diet plans and much more without pending equipment.
  • Business Amalgamation – Earlier single owners or small scale fitness companies struggle to compete against big ones. But this new normal ensures the transparency and equality of the competition.  Now a group of fitness business can amalgamate to offer their services under one platform. In the process, earning greater revenue and scaling becomes plausible for those fitness companies.

Launch your online fitness consultation business, Run and Grow. 

First and foremost, there is a difference between a free consultation app and running a successful one. To run a successful and an established online wellness and fitness solution, you need full stacked technology support and the right plan.

Launch-Pad 

First of all, to start your online fitness consultation you need a trusted technology partner like stackgeeks. This will constitute:

  • Robust Platform– A complete technology suite should be providing you with a seamless website/app for your online fitness consultation program.  This tech suite should fulfil the initial solid user- consultation navigation.  Furthermore, the user can explore different fitness experts using your platform.  Moreover, they should be given filters like specialization, fees, offerings and availability etc. Once the user has book an appointment with the expert, he/she should be easily able to connect via either audio or video.  Also, there is an integrated payment method to pay fees online.
  • Trainer oriented App – The whole idea is to provide a worldwide lifestyle change via fitness apps. So indeed the app should be trainer/expert friendly. As they are the beacons of these change, entrepreneurs should be harnessing this technology accordingly.
  • Admin Panel – The admin panel on the fitness app should be powerful to meet the needs of business owners. In short, the owners should be able to control all aspects of their business.  Admin panel must have that leverage to make better decisions by keeping track of important numbers.

Encompassing  all Core Features 

The tech suite you are availing for your online fitness consultation muse has end to end features. Many apps competing in one niche but only a few make the charts. In the first place,  customers are loving that app because of end-to-end features

  • Advance Search & Booking – Filters are an important part of any successful running app. Ensure your user can search the right expert with the advancement filters. Also add instant or later appointment filter in this.
  • Payment Gateways – Integrate multiple payment modes for your user.
  • Push notifications – Update your users with time to time alerts and notification about discounts, deals, appointments, fitness classes and much more.
  • Freebies and Semi-freebies – Keep entreating your users with likes of limited free classes, promo codes, in-app cash points and discounts, etc. Consequently, user retention and engagement will increase manifolds.
  • Real-Time audio-video chat – Give your customer flexibility to interact with multiple modes of consultation. User can go for audio chats, video chats and text msg.
  • Fitness experts Admin panel –  Increase your fitness experts registration with the availability of a convenient and seamless expert admin panel. Give them the flexibility to edit, delete or add their services without any baggage. Also, no limit on their prescribed fees.

Scale your operations with given insights and support on Build Online Fitness App

For any online health consultation and online fitness & gym experts, they will be needing real time insights to scale up their business.  With in-built insights, owners can track their progress and check on the hindrances. Further with tech we have, AI based reports and analytics should be the best to see your growth. The owners can see the important numbers such as leads, and  conversions, accordingly work on their product. Also, a dedicated team  of experts helping out both clients and users 24×7 will help you make the next step.

8 Must Have Features to Boost your Online Food Business Post Pandemic

online food business

Since last year Pandemic hit the world, businesses all over world has taken a toll. Food Industry itself saw lot of ups and downs and amidst, food industry saw its silver linings in the form of online food business which continues to surge more and more demand.

AS per CNBC reports, online food delivery giants like Doordash, UberEats, Swiggy and Zomato gained the most from covid crisis.

The Food market is already full of many experienced and top notch business and amidst of all global innovation online food delivery apps such as Zomato, UberEats, Swiggy and Doordash is getting the all attraction. With norms such as social distancing and quarantine, many restaurants are now going for online food delivery system.

Yet online food business finding it difficult to cope with it

  • because of ifs and buts
  • and the compatible scaling needs of your business with food delivering apps.

We at stackgeeks have compiled the 8 must features for your online food delivery business app so it can nourish your business at right time and develop it strategically to enhance your online business capabilities post pandemic.

  1. Voice Instructions

Failed delivery attempts can be frustrating on company part as they not only incur losses but also customer trust. Voice instructions especially in remote locations or low intensity network areas can be game changer, you can leave voice instructions as a small pieces of instruction to lead your delivery personnel to the required location. It will also ensure timely delivery.

Voice instructions feature allows customers to have number of uses such as asking for contactless delivery, instruction in regarding to food delivery location and in case of absentee asking for delivery to neighbour.  It is a user friendly and enriching feature, most of online food delivery business owners nowadays are exploiting it.

 

  1. Advance Search

Advance search feature allows customer to directly navigate to their favourite food item rather than going through pre posted steps and in process avoiding browsing several categories.

 

For instance, create a customizable search bar for unique and richer experience for your customers on your online food delivery business app pre-constituting filters like restaurant names, cuisine types and much more. Also on the basis order summary of the customer, you can add favourite food items or dishes as a top suggestion for them.

 

  1. Contactless Delivery for Online Food Business

Contactless deliveries have now become a necessity rather than just a feature because of the pandemic we are in. The safe tech solution can now warrant seamless & contactless deliveries through coordinated effort of service providers. Moreover they have medical clearances and government approvals on board too.

 

Also with contactless delivery option, customer will be able to track their delivery personnel; can check their medical clearances and personnel medical sheet.

 

  1. Live Kitchens for Online Food Business

First of all what is a live kitchen? It is a real time view of how customer food is being prepared. There will be a live/recorded coverage of your ordered food on your mobile app.

There are many times when the user have given preparation instruction on their food items or preferences, with online live streaming capabilities of your food business app in cohesion with voice instruction attribute this all together can make the entire food experience alive and enriching for consumers. Live kitchen experience will be as real as the physical restaurant experience for consumers.

 

  1. Order Management

As most online food business app run via different delivery services and even more so there is also in restaurants you are attached with. This feature is considerable important if you are in a multi-vendor based marketplace.

 

Scaling is vital for any business and especially in food delivery business managing the order is the key to your business growth.  So if you have integrated inventory stock in cohesion with order management on your online food business app, instead of user placing an out of stock item your business can initiate removing of such dishes from the online menu and logistics can prepare well in advance for such shortage to tackle such shortcomings.

 

  1. Order History

Often the most ordered item on your food delivery app is the most recommended foot item. Pertaining to your consumer needs and, order history, you can incorporate special deals. Also, personalize offers on your online food delivery app. You can incorporate such feature on your partner portals, and associated restaurants website and based on collective information crate specialised deals for your customers.

 

  1. Revenue Tracking for Online Food Business

Revenue is an important part of any business in running. Moreover, in the end it’s the deciding factor for their growth. Already many mobile app development companies offer revenue insights with their apps assigned to central admin.

 

But with continuous evolvement and technological upgradations in business world, these insights are falling short because of more & more attributes attaching to food business online. Food business online may scaling up higher but maybe losing on revenue per order. Thus, ensuring the necessity of more vigilant and interactive revenue tracking feature on your online food delivery business app/ portal/website.

 

  1. Feedback & Reviews

Nowadays all business is using gamification techniques to increase the count of feedback and reviews system of their apps. Present world demands you look to your consumer constant changing needs to ramp up your business.

 

In the online food business, apps needed an imbibed reviews. Moreover, a feedback system is in need to ensure the sustainability of their food businesses. Also, to get a better understanding of consumer behaviour to scale up your food business.

 

Gamification means using the game-like feature for your feedback & review system of the app. In addition to understanding your behaviour attention better, you can add discount coupons on each review to encourage large participation.

How E-Healthcare Applications changing Medical Industry Worldwide – Stackgeeks

E-Healthcare Applications

Today adult is turning more and more health conscious  and the effect is clearly astounding. In addition, COVID-19  affect will only surge the demands of popular online healthcare apps  Recently, we saw 5000% increase in usage of online health apps for doctor consultation. And its no secret harnessing the power of technology on our healthcare services has become mundane. However, E-Healthcare Applications are taking over. Let’s see how?

Present world is full of entrepreneurs  and is itching to  go beyond  This exponential rise in online healthcare services brings a whole new world for our entrepreneurs.  AS a matter of fact, healthcare apps will go on stronger from here.

For all our budding entrepreneurs, in this article we will  discuss insights of Practo app. Guide you to launch your own app like Practo.

Practo- Introduction and Business & Revenue Model (One of the best E-Healthcare Applications)

Practo is an online healthcare booking system, allowing people to connect with experts doctor online at charge of nominal fee. Indeed this was the first India healthcare app that have expand so vastly and thus opening unlimited possibilities for all creative minds in online Healthcare operations.

Practo currently has 200,000 plus verified doctors on board and is getting 50 million appoints per year.

Established  in 15+ countries including Indian, and USA.

Practo right now dealt in 25 + specializes including pediatric and child care.

Practo Over the years

  • Founded in 2007
  • Launched as TurboDoc in 2007
  • Launched as Practo Ray in 2009
  • In 2010, it was rebranded from TurboDoc to Practo.com 

Funding over the Years

Practo recently raised 32 billion dollar in August, 2020. The funds were raised from chinese life insurance conglomerate A1A company

  • In 2012, this popular online healthcare app raised $4M from sequoia capital
  • In 2015, Practo online health care app raised $30M funding from Sequoia and Matrix Partners
  • 90$M in 2015 from Google Capital, Matrix Partners, Sofina, and Sequoia India. There are others as well including Altimeter Capital, Yuri Milner and Seqoia Capital Global Equities
  • 55$M in 2015 from Ru-net, Recruit Strategic Partners, Tencent and Thrive

How to Create one of the best E-Healthcare Applications like Practo 

Indeed the task is massive but worth a risk. To being with, creating a  next level health care app you probably will need a mixture of following. End to end healthcare tech suite, advance attribute system and a highly performing backdoor support team.

  1. End to End Healthcare Tech Suite  – First of all the app you are developing should be super Patient friendly. Secondly, virtual connectivity with health experts & doctors should be seamless.  In addition, the platform or UI/UX design should be robust and capable of handling all queries. And last but not least, real time analytics with birds view on admin dashboard.
  2. Advance attribute system – For Patient panel, following services are must: Online Booking, In-app Chat with experts, Real Time Audio and Video Consultation.

On the other hand, Doctor interface should be more flexible. What is more it should have following features: Integrated Fee Payment System, Digital Prescription & Reports, Doctors fee and profile wiki and Advance appointment facility.

Finally the Admin Dashboard should have features more of managerial. This dashboard should contain those attributes: Advanced doctor and Patient Edit Card, Secure Medical records, Analytics and reports, and Robust management panel.

  1. A highly performing support team –  Dedicated and which have performed at highest level should lead your support staff. Which is more why your success depends on. Besides, a dedicated support will offer you flexibility to customize, resolve all you IP rights an source code issues, and better scaling solutions.

Practo Casestudy – How does Practo Works and Earns – Stackgeeks

Pandemic has hit us where it hurts the more, the economic health of the world. Furthermore, businesses have seen record fall in their sales but there are still few verticals who have seize this moment. And indeed online healthcare industry is one of them.  They have seen an increase  at a CAGR of 23.6% and the telehealth vertical is register the highest boost. So how does it affect Practo?

THE GLOBAL MARKET SIZE IS EXPECTED TO REACH 270.4 BILLION US DOLLARS.

Online Healthcare Platform had already receives more than $ 228.2 Million

In addition, the Indian online healthcare apps like Practo has seen an average increase of 16% in their online consultation.  Started in 2007 , Practo was seeing a growth of 20% per month. But all that changes as time goes on.

  • This online healthcare app Practo secured $ 32M  from Chinese life Insurance conglomerate A1A company
  • The Practo now have 20 Million patients every month
  • They got 500% increase in their  app based doctor consultations,  from 1st of may to 31s may 2020 onwards
  • Practo App is now getting 200K plus healthcare experts every year
  • And, 50 Million appointments every year

What is the secret behind the success of those online healthcare solutions like Practo 

  • Bridging the gap between patients and Medical experts –  In all honesty, Practo is facilitating the discussion between doctors, physicians, technicians and people.  Times like corona, they are doing immense help especially for symptomatic  patients. Covid- 19 affected patients can communicate directly to doctors and medical experts virtually and get the desired treatment.
  • Reducing the Spread of Virus – Because of 1v1 interaction, there is least chance of spreading the virus or any other disease. In short, both patient and healthcare expert are distant apart and thus safer.
  • Stability – Plus the treatment the patients are receiving is not dropping their health status and most of majority are stable.

What so unique about online healthcare apps that is One platform for multiple services

 Consumers 

  • Virtual consultation with the best doctors anytime and anywhere
  • Subscribed users can save around 50% to 60% of their yearly expenses. Also, the subscription also include freebies such as unlimited online consultations, discounts on prescribed doctor fees and much more.
  • Leverage on Experts visits

Doctors

  • Digital Presence of Doctors
  • Doctors inspiring and rather than making a change they are the change.
  • Virtual Practice

Hospitals and Clinics

  • Enhanced Reach and better productivity
  • Making possible the visit services from doctors to their patient home
  • Integrated fast payment system
  • Booking System

Revenue  Model of Practo 

For this niche of business, it better if you have multiple products and investments. To conclude with, a vibrant revenue model will suits this vertical much better. Now lets look at their revenue model. Basically they have segregated their income into two parts:

Investments – Practo has invested into lot of other verticals and narrow verticals. Their possessions are as follows

  • InstaHealth,
  • Genil,
  • Enlightiks
  • and QikWell.

Company Product – It is bifurcated into 3 parts

  • Medicine Delivery charges – They have authorized dealers and channel from where they deliver medicines to whoever needs it and also conducts diagnostics tests
  • Online Consultation Fee – Likewise other online healthcare apps, Practo also charges a standard fee from the consultation charges patients paid to doctors.
  • Subscriptions – Though it is free for patients, they still charge one time technology fee from medical  establishments.

Looking now and before, Practo has made some substantial growth.  This online healthcare app total worth is around $ 15 Million now.  Initially they struggled for first 3 years like every  business but now India best telehealthcare app. Moreover they work hard on their technology, product, customer support and business dealings with the passage of time and have become an inspiration in true sense for all entrepreneurs and business worldwide.

How to Build E-Learning App Like Udemy

Build E-Learning App

E-learning is been the focal point since the pandemic has hit us, every educational institute is relying on e-platforms. Before understanding how to Build E-Learning App , you should know that Udemy is one of few platform which have excelled in this field since pandemic has come upon us. In this article, we are going to shed light into insights on how can you create an app like Udemy,  Looking into the success of Udemy, an extremely successful platform many are itching to plan their own e-learning platform from scratch as a result of this new normal. We will be guiding you all with the right strategies and business model to develop app of such stature

Udemy- A Successful E-Learning App

A decade ago, this platform was boon into life and since then it has seen a tremendous success. Born in the year 2010, this platform Udemy was able to garner more than 1000 capable teachers who in turn developed a total number of 2000 courses during their first quarter of the launch.  Further in span of 2 years, the Udemy has accumulated over 400,000 registered students.

AS a matter of fact, Udemy stands today with mind boggling 50 million active users and 150000 courses. And its been an revolutionary platform for all the Ed Tech platforms all around the world.

Udemy  Business and Revenue Model 

To tell the truth, any renowned e-learning platform strictly operates on seven principles-  value gain, affordability, convenience, brand value, easy user interface, customization and  availability.  And in all honesty, the Udemy business model gives that flexibility to both students and teacher. Udemy only makes money whenever a student purchases a course and obviously the course is created by the teachers which were hired in the first place by Udemy. For this reason instructor fee varied depending on the course student has acquired.

Udemy applies the following 3 tier revenue share model

  1. Instructor Promotion  -Whenever student discovers a new course either through a referral code or coupon link prescribe by the instructor, instruction promotion fee is used. Being that case, the teacher receives 97% of the course fee and rest 3% goes to Udemy.
  2. Udemy Organic – Here organic means if student visits Udemy website without any promotional advertisement.  In this case both Udemy and instructor shared 50 percent revenue each. Also, Udemy charges a 30% percent in case the course is purchased on official Android or iOS app.
  3. Paid Acquisition  – Platforms like GOOGLE, FACEBOOK,  OR YOUTUBE, gives option to stream advertisements. Udemy streams advertisements on such platforms and, consequently charges a 75% cut for their each course sale. But even so, instructor has the  freedom to curb the channel mediums and streaming time, so it depends mainly on them.

Build E-Learning App Platform like Udemy

Its increasingly tough when it comes to building such platforms as students is now looking more and more to digital learning. Nevertheless, when it comes to building such platforms we take inspiration from only best and non other. Building from scratch will be our first priority  and definitely no compromise when education is on the line.

It can be super complicated and time-consuming business when you creating App like Udemy. But over the years it has become achievable due to availability of highly proficient business model.

Here is you ultimate guide on How to Build E-Learning App

  1. Idea Validation – For creation of any effective and affordable product, idea validation is must. Idea validation means its current market status, immediate future and future expectancy. Even more all these needs to be analyzed and worked on before coming into life.
  2. Business Model – There is different ways to monetize your e-learning platforms. Once you have identify your audience, built a robust & seamless business model. Accordingly set your revenue model. Udemy charges users as per rate of their specific courses.  With this intention, you can use that or go other revenue models. There is subscription-based model or the premium account, the paid certification model, and advertising/sponsorship etc.
  3. Niche Validation – For creation of any effective and affordable product, idea validation is must. Idea validation means its current market status, immediate future and future expectancy. Even more all these needs to be analyzed and worked on before coming into life. According to several research and market reports, the e-learning apps like Udemy market will grow by 300 million USA by 2025.
  4. Core Features – Feature is the driving fabric for any platform.  In short success of your platform  hugely depends on those core features. And then only both students and teachers will only be  attracted  to your or e-learning platform like Udemy.  To begin with, bifurcated your core features into 3 segments                     

a)  Generalize segment- Customer & feedback support, business collaboration, account  creation, and edit profile .

b) Student Segment – Enrollment option, payment getaway,  course category and filtering, search and experts recommendation .

c) Instructor Segment- Course creation, updates, performance insight, revenue insights, course list, and students insight etc.

The Other things you should Consider to know how to Build E-Learning App

  1. The UI/UX Matrix – Success rater is inversely depends on the design of you e-learning platform. The easier user can navigate the e-learning platform, the more success rate it is. While strategizing your UI/UX design, these should be your got to features :                                                                                                                                         a) Easy navigation and loading                                                                                                        b) Page loading rate                                                                                                                              c)  design simplicity and acceptance                                                                                            d) Appealing design with visual prowess                                                                                    e) Readable Typography
  2. Selecting the right Technology Stack – To remain in the game you always have to think 2 step ahead of your competitor. In short the right technical platform and software development solutions is the way forward. And what’s better than Stackgeeks adding the right functionalities and services to your website and apps needs.  Always remember only few can provide comprehensive services under one umbrella.
  3. Design MVP  – An MVP(minimum Viable Product) is always better than fully operation one in a initial stage. Once you are in development stage, don’t try to go for fully operational product and just remain on MVP one. As you go along  the growth cycle, then gradually start making changes by knowing their preference, knowing countless engagements and then finally settle on fully operational one .  Moreover, an MVP  helps you with early cost cut and in process easing your overall financial strain .

8 Scalable Online Business Ideas to Start in Pandemic

online business ideas

Running a business is never been easy and so rather is starting a one but times has changed now and the best part is you can be next success model of your town with some Online Business Ideas. This futuristic world has been full of opportunities and starting a business now comes off rather easy. We are all now in pandemic and 2021 can’t get it as good as it gets, the best part is despite the predicament we are in you can start and take your business online in no time and can be the next Jack Ma or Elon Mask.  All you need is online best business ideas to kick start your dream.

Already the market is full of ventures, before starting your business idea it is better to ascertain its market demands and then go on creating the outcome you wanted. Many niches in different industries are already been explored and starting purely on recent trends is not the choice we wants you to stick to it. Its always easy saying than done and so is business, business has its pros & cons and in the end you either end up creating lot of wealth or losing all your money.

What matters is the choice of business and idea you are going for and is it fortified by smart decision making or not? Keeping in the mind the behaviour and niches  of today online businesses, this article will shed light on today’s some of the best online business ideas to be keep tacked on and worthy of investing.

2021 Best Online Business Ideas

It is of utmost importance for any business idea that it has flexibility and potent to grow in today business world. We at Stackgeeks have come up with a list of top online business ideas that are ready to invest in and can go ahead full throttle in 2021.

  1. ED- Tech Services – One of the best Online Business Ideas

2020 is the year of education sector as we saw pendulum swinging completely from archaic method to ed based learning. As per statistics, in upcoming years we will see a surge of 18.1% compound annual growth onwards to 2027.  Pandemic was a curse-in-blessing for ed-tech services as it was one of the most funded sectors and the momentum it gives to the growth of technology enabled learning is boon for this industry.

 

The advantages of education imbibed technology are far progressive and stimulated the growth of ed-tech startups in India. Businesses have either shifted completely to ed-based learning or combined both conventional & technological aspect of learning because of possibilities such as 360 learning programs, virtual classrooms, performance tracking and online progress report cards etc.

 

It is now one of the hottest business in demand and its time you avail the benefits of such opportunities. If you have not started or needed a boost, start with stackgeeks its easier than it was.

 

  1. Online BookKeeping

The best part about this online business idea is that every type of business requires accounting and auditing services, and it is not limited to particular one industry. If you are an accountant, start now as a private bookkeeper or accountant online and venture into accounting business by acquiring financial business from online players and banks and start earning lucratively.

Nowadays, best part is there are professionals like stackgeeks who can handmade any sorts of app you desired as per wishes with quality standards and the only hindrance is securing business dealings.  As long as your services are client- friendly, you have the impetus to grow as much as you want. As of now this, online business idea can grow on to $687 billion dollars in 2023.

 

  1. Home Care Services

    Even before the pandemic hit us, the global healthcare workers were never enough to pertain to our home care services. Obviously after the pandemic, the need for home care services is only increased numerous times. A recent survey shows by 2050, USA alone will have 1.5 billion people in a category of 65 above age group and it is expected to reach 81.2 million by the end of 2040 year.

Online home care business service has an unlimited potential both pre and post covid crisis, and this is one of the business ideas to invest in or go ahead in 2021. You can start as an aggregator platform joining all home care services in your town and can earn various deals on providing work to such home cares.

 

  1. Career Advisor

The potential this business idea has is huge but only thing that keeps this business going on is trust rather than experience & knowledge. So such business ideas required better execution and more advanced product delivery & framing for your customers.

 

Career Advisor business idea will always be a tricky business as customer will only come on trust basis so having right set of systems and flawless app is imperative. Start this online business idea with students in your area of locality and once you have some stability start scaling with venturing out in different areas and targeting different section of society.

 

  1. DropShipping

Dropshipping is one of the hottest and extreme favorite business ideas right now in the market especially for the youth. First of all, this business does not required a substantial investment and the idea of not storing & delivering makes it more appealing for businesses to c incur more profit.

 

By 2025, the dropshipping valuation will be around 557 billion dollar. All you just need a website or mobile app and you can start this venture. As the orders increases, you will begin to pump more money.

 

  1. Food Delivery – One of the best Online Business Ideas

Swiggy, Zomato and Uber Eats…. these are some of your best food apps and they are one of most prominent business right now. All they do is deliver food items from your favorite restaurants to your place, and already a multi-crore business idea. Food Delivery is one of the most challenging business idea, the intricacy here is all about a successful and pragmatic running business idea app for you food delivery services.

 

This pandemic have already have given the push they are lacking in this business idea i.e. AI based delivery and thus allowing food delivery based business to have bigger slice of the pie.

 

Ensuring success in food delivery online business completely depends on your pre-business market research & analysis. Users like quick, easy to surf and dynamic page setting for your food delivery based business app. We at stackgeeks made sure to include such details and built a timely delivery & ordering system, while having your business model built at our enterprises.

 

  1. E-Healthcare

First of all you should understand E-healthcare is an umbrella term and constitutes not only online health care consultation but more of broader spectrum includes online healthcare business services such as medicine delivery apps, and on demand home healthcare services.

 

The novel Coronovirus has widespread the global healthcare to such levels that stating it as a growth would be understatement. AS per the business wire reports, the online industry is expected to grow from 26 billion dollars market to 70 billion dollars market in 2026.

 

There are numerous opportunities for Indian youth to kick start their ventures in healthcare industry due to requirement of colossal number of physicians and pertaining to vast number of diseases that world needs protection from it.

 

Due to pandemic and its vast current market, it is easy to create online a prominent healthcare facility globally connecting doctors/ nurses/ interns/Physicians/Technicians/Therapists/Rapid response team/ Advocates/Vendors/Patients at low cost and even that infrastructure is not that huge required. You can also start payment system, maintenance of records and data, booking system and much more for hospitals, all you need is an expertise which we are there to provide.

 

  1. Diet Consultation

As per NCBI study, approx 39% of world population comes under obese terminology and these staggering results will keep on multiplying twice the number. There used to a days where people would believe in diet fads and not care about body training but now health has become a top priority for today’s young adults and more & more need has aroused for quantified nutrition.

In era of internet where knowledge is ever so present, it has become difficult for youth to navigate tons of knowledge and that is where Diet Consultation keeps you up with necessary information and makes you take healthy decisions.

 

AS per US Bureau of Labor statistics, Diet Consultation demand is going to surge to 8% from 2019 to 2029 and this field of business is growing much faster than the average job growth rate.