On-demand services have seen immense growth in the recent past due to the popularity of eCommerce among consumers. The fact remains that the internet has made it easy for everyone to find buyers and sellers online and on-demand economy is thriving on it.
With various technologies coming to play, and the growing customer demand the journey of entrepreneurs to launch an eCommerce marketplace is getting easier. Adopting an innovative approach and finding a sound business model is enough to lay the foundation of a new business. If you are one of the business enthusiasts looking forward to start eCommerce venture revolving around the on-demand economy, spend more time deducing the optimal business model before executing it.
The following are some of the most lucrative business options inspired by the on-demand economy.
1. Start a multi-vendor eCommerce Marketplace
The eCommerce sector has seen tremendous growth in the recent past and the sector is speculated to see a phenomenal rise of 30% in the next few years. This has opened a completely
new horizon when it comes to creating multi-vendor eCommerce marketplaces like eBay and Etsy. Such marketplaces provide a common platform to various sellers thereby bridging the gap between sellers and buyers. The best part about it is that you, as a website owner, do not have to bother about inventory or deliveries.
2. Launch an online grocery store
Grocery shopping is a task which consumers have to undertake every other day. An online grocery store in that situation is a perfect solution. More and more people are now inclined towards buying groceries online. If you are interested in launching a startup catering to a niche market then such a marketplace is best suited for you.
3. Run a daily deal portal
With eCommerce gaining traction, the next big boost has surely come in the daily deals arena. Websites like Groupon and LivingSocial have already made a name for themselves catering to local deals. However, there is still a huge void in this sector with ample room for new startups. While consumers get better deals, merchants, on the other hand, get customers in bulk. The platform gets a cut on each successful transaction.
4. Run an online custom clothing platform
Lifestyle and fashion have always been the biggest drivers of eCommerce industry. However, in recent years, new business models like online custom tailoring platforms have emerged in this sector. Custom clothing websites not only offer bespoke clothing but also a sense of personalization. Such websites help consumers choose fabrics, measurements, style specifications, and get custom-made clothes delivered right at their doorstep.
5. Launch a marketplace for freelance writers
Professional freelance writers have always been in demand and their demand is growing each day with the focus shifting to content marketing. That said, brands face major problem finding writers for essay writing, research paperwork, or any other form of academic content. Moreover, finding proficient and professional writers is the biggest hassle. This is where peer-to-peer marketplaces for freelance writers like EssayShark and iwriter come into the equation. These platforms connect freelance writers with clients in need of any type of writing project. You can think of something like these freelance writing portals.
6. Create a marketplace of service professionals
Like above, there is also a huge market for a service professional marketplace where you can easily find professionals like lawyers, doctors, carpenters or any other type of professional. Such websites have immense growth perspective and the best thing about choosing such marketplace business model is that you can opt for catering to a niche market like a doctor search marketplace or home care professional search marketplace.
7. Build a platform for online food ordering
Home delivery has been a tried and tested business model used by numerous restaurants. However, this was limited to few large chains of restaurants. Nowadays online food ordering has become a huge market with portals like FoodPanda, GrubHub, and Eat24 coming to the centre stage. Such websites offer restaurants and online gateway where consumers can place their orders, thereby coming across as the need of the hour and a viable business option.
8. Start an online car marketplace
Buying or selling a car has always been a strenuous task for consumers. However, with the coming of age of eCommerce and online car marketplaces, the whole process has become seamless. Online car marketplaces have become a huge hit among automobile enthusiasts and car buyers alike. Such marketplaces not only offer in-depth analysis of automobiles but also present a platform to connect sellers and buyers.
There is no denying the fact that the above-mentioned business options offer immense growth propositions. However, the crucial aspect, which must be kept in mind, is that whatever business model you choose, the implementation must be holistic. Most of them have a huge return of investment guaranteed, but one must not forget to conduct additional research before investing in any online business.
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