When we hear the word “Marketplace”, the first thing that comes to our minds is Amazon, Etsy, EBay and many more such e-Commerce platforms. These have set an ideal example for an upcoming e-commerce marketplace platform aspirant.
So, what is a marketplace?
Why is it the current booming business?
Marketplace is an online platform which connects a third party service provider to a niche of consumers. Given the current generation of people, everything needs to be delivered to their door-step. And the present scenario is just the right amount of every criteria to make this business a huge success. No wonder this is becoming the next big thing in the industry out there!
There are basically four kinds of marketplace businesses, based on what they sell, the target audience and the services they provide.
- Online Product Marketplace:
Allows Sellers and Buyer to connect through the world wide web and make informed transactions in an efficient and secured way.
- Online Service Marketplace:
An online platform that provides services such as food catering, parlor services, household services, etc from the comfort of your surroundings.
- Online Rental Marketplace:
This kind of marketplace makes hiring services extremely easy. Be it renting transportation services or home decor, these marketplaces help make the experience seamless.
- Hybrid Marketplace:
Provides combined benefits of online and offline services. Booking the product online and then physically going and getting the product from the store or provider is the gist of the functionality of this model of marketplace platform.
It is of great importance that you choose the right niche and develop your marketplace website in such a way that it reaps profit once your business takes-off.
So, how do we go about gathering the right information, knowledge and build a business in an effective way?
– is a pressing question that will be bothering the minds of upcoming entrepreneurs.
There are many factors that one needs to look into before jumping straight to action.
- Designing and Developing layouts
- Best Technology for programming
- Mobile-friendly (mCommerce)
- Inclusion of Social Media and many more
Though operationally the functionality of all these types of marketplaces will vary; technologically they do have similar approaches. However, is this article we are discussing about how you can build a service marketplace economically and efficiently?
Studies show that the service marketplace industry accounts for over $214 billion, And, the industry experts have predicted that it will reach a total of $435.41 billion between the period of 2017 – 2021; twice the amount. Hence a lot of young entrepreneurs are choosing this stream and working hard to carve a niche for them. However, when you start your ground work, the first step towards building a successful service marketplaceis to know what all you are supposed to be featuring on your website. Here is a short list of the basics that will help you gain some idea and perspective regarding the same.
- An Admin Panel
- User Profile
- Payment Gateway
- Organized Service Listing
- Booking Management
- Review and Rating system
There is a lot that goes on behind the scenes. And one requires the right amount of knowledge base and technical support to build and launch the marketplace website. There are many ways in which you can develop your website.
- Building from scratch
- Using SaaS Model
- Using a Clone Script
All these options have negatives and positives of their own. But the first two approaches will prove to be a huge brunt, monetary wise especially for a start-up. But the last one requires neither technical knowledge nor a huge financial investment as compared to the other options. It is a one stop solution for all your woes.
Thumbtack Clone Script:
Thumbtack is a free online platform that lets consumers browse, compare and hire the right service professionals for their needs and also review and rate them. Their area of expertise varies from wellness, pets, DJing to renovation and photography and everything in between.
A clone script will help you kick start your business with a flourish.
They provide a ready-to-launch Php Thumbtack Clone comprising all the significant features that will make your journey a bit easier.
Here are some of the major features that this SEO friendly Thumbtack Clone Script offers, and many more.
- Multiple Social Media Login
- Advanced Search Option
- Login History Option
- Feature Rich Admin Panel
- User-Friendly Interface Design
- Admin Controlled Blogs
- CSV and XLS Export
The clone script is not restricted to a set boundary. You can get your own customized script as well. Being an open-sourced script you will get total control over the functionalities of your clone website. You can either customize it on your own or you can reach out to them for the same. This thumbtack clone script allows you to categorize the services you offer in a more organized way.
There are also other advantages such as boosting the business visibility and the ability to perform advanced searches. This clone script not only favors the business owner and the Admin, but also makes the lives of the end-consumers easy by providing them full freedom to get connected with their preferred service providers instantaneously.
The consumer will be able to search for professional service providers through the Direct-Inquiry feature. By having a direct look into the profile of the service provider, the consumer can decide which provider to choose based on previous ratings and reviews. The consumers can directly reach out to the concerned service provider and demand quotations directly. Or they also have an option of filling out a form that will then be forwarded to the relevant service experts hence providing them with a lot more options.
There are features that enhance your clone website to attract more customers. Some of them are,
- Providing free resources
- $1,000 money-back guaranteed and also coverage of accidental property damage
- Providing additional resources like how-to articles, option to browse commonly-asked questions and availability of a cost estimator.
The below graph will show you how even the pandemic deterred period has had a positive impact on Thumbtack marketplace platform.
Hope this article helps you in articulating your very own service marketplace is the best possible way. If you face any challenges in your way, don’t hesitate to drop in a query with us.
The wait is finally over.
Let’s get started!