Online food ordering marketplace-A successful business formula

    Launch your own online restaurant ordering business

    2nd Nov 2018
    • +0
    Share on
    close
    • +0
    Share on
    close
    Share on
    close

    Online food ordering and delivery marketplace has been a promising business venture to start. The success of first generation online food ordering start ups such as Foodpanda, Zomato, Swiggy, Eat24, JustEat are evident for it. Amidst other online business ideas sprouting all over web, Food ordering marketplace is best option for startup entrepreneurs.We share the business model of online food ordering marketplace to explore the potential in making it big in online business venture for entrepreneurs.

    How it works?

    Online food ordering and delivery marketplace works based on “Business model” that drives revenue for business owner through commission. It’s a centralized hub where all restaurants and other food outlets of target market listed for customers to order from

    Customers can explore the portal for cuisines and listed restaurants

    undefined
    undefined


    Why online food ordering marketplace is best option

    People’s life is getting busier with every moment and especially in metropolitan surrounding areas. To keep up with hectic schedule they look for reliable solutions for day to day tasks.They need online food ordering service when they don’t have time to cook at home or go to restaurants.Question may raise why third party aggregator and not restaurant own ordering and delivery service.It’s easier for customers to visit a single marketplace website instead of visiting website (Installing apps) of every single restaurant chain in the area. To get in perspective, imagine downloading apps of different retailers on your phone instead of just one single Amazon app.With online marketplace customers have more options and it becomes easy to explore all the restaurants and cuisines available in the area.Price comparison, reviews and ratings are other major attraction to choose third party online food ordering and delivery aggregators. This quality assurance strives to retain your potential customer retention and engagement.


    Potential market-Online food ordering marketplace

    Food ordering and delivery service is limited to urban areas where high population and demand for food ordering software. But with increasing rate of internet usage and smart phone adoption semi urban and rural areas become potential market segments

    Emerging business markets like India, China, Latin America, and South East Asia of tier 1 and 3 cities offer these new business opportunities.

    Start up to stand against big players in market

    Foodpanda marketplace is already boosting its presence in cities of Europe, Middle East, and South East Asia. Grub hub also has solid presence in US & UK markets. Targeting hyper local segments with food ordering and delivery business venture is best option for start ups.Being local, you will have the advantage of understanding customers needs and perspective apart from business perspective. Once your start up goes will with local audience, your business expansion becomes rather matter of time.



    • +0
    Share on
    close
    • +0
    Share on
    close
    Share on
    close
    This is a YourStory community post, written by one of our readers.The images and content in this post belong to their respective owners. If you feel that any content posted here is a violation of your copyright, please write to us at mystory@yourstory.com and we will take it down. There has been no commercial exchange by YourStory for the publication of this article.
    Report an issue
    Authors

    Related Tags

      Our Partner Events

      Hustle across India