Before establishing a business, you might think about which category of venture you want to begin? If decided, then in which mode do you want to run? Online or offline? Here in this post, you will learn about the on-demand apps, various business ideas for running on-demand ventures, some examples, and their benefits to the enterprise.
People tend to use applications of various types to satisfy their purposes in a minimal time. In the past few years, they have bolstered the usage of these applications to a considerable level. According to statistics, the downloads of mobile apps have achieved 143.6 billion the previous year and are further assumed to increase by 200 billion in 2025.
Because of tremendous installs, global app market revenue hit the number of $318 billion in 2020 and is further expected to increase in upcoming years, as shown in the image below.
The reasons behind the increased usage of these solutions among the people are ease of service access, rapidly meeting their requirements and many others. Later, some issues of storage in their devices started occurring in the single service apps; hence they started preventing the usage of those solutions.
Thus, the newer types of these apps were launched in the market, which were known as ‘On-Demand Apps,’ now, what does it mean? It is mentioned in the next section.
What Does On-Demand App Mean?
Now, when it comes to knowing the term ‘on-demand apps,’ it means covering a vast market area. The solution allows the customers to access multiple service providers of the same category under one roof. In short, it serves as a marketplace for customers to search and access specific service providers from the variety of them available across the whole city that is registered in an app.
The entrepreneurs can also get ease in running their business as they can efficiently perform complex operations through these solutions by performing a few taps on their smartphones. There is also an advanced platform launched in an on-demand industry known as ‘Super Apps,’ which integrates almost all market segments. Fine, now which are the different categories of ventures possible through on-demand platforms are discussed in the next section. So let’s dive into that.
Various Business Ideas for On-Demand Business
Now, to establish an online business through on-demand apps, there are many different ideas or categories of ventures possible to run from. However, here are the various ideas that you can keep in mind mentioned below:
1. Food Delivery Business
If you are a restaurateur and want to switch the business online along with continuing the conventional approach? The online food delivery business through on-demand platforms option is the best way to gain rise in the market. Because there is equivalent demand for meal ordering solutions among the people, so you can launch your venture online through these solutions as it has become a trend since the arrival of a pandemic in the market.
2. Ride-Hailing Business
Nowadays, people don’t have much time to wait for a taxi at the roadside. So, if you own a taxi business, here’s the right time to launch the venture online by registering it in an on-demand ride-sharing solution. There is an intense need among the people for these platforms because it helps them save their precious time and assists them in reaching desired locations quickly. So, you can get immediate hype in the market if you adapt these solutions for your business.
3. Healthcare Business
Today, the infections are spreading like nothing else among the people. Therefore to reduce them, people need to receive an instantaneous appointment with doctors. Hence they can do so through healthcare solutions, and they prefer them majorly. Therefore, if you, as a doctor or pharmacist, are running a hospital or medical store, you register your business on these platforms to receive significant sales.
4. Household Utility Business
Running a grocery store and not yet satisfied due to meager profits, there are many online grocery delivery platforms available through which they can deliver groceries to their consumers in a minimal time. The preference for these apps is at a considerable level. Hence, you can receive hype about your venture’s profitability by registering a venture into these solutions.
5. Multi-Services Business
Currently, there is a huge trend of these solutions being adapted among the people. Hence, you can register your venture on these platforms and can achieve a secure position in the market as the people prefer them because their every need is being fulfilled under a single hood due to the integration of almost all the business sectors. As an entrepreneur, it doesn’t matter what sort of enterprise you run. However, through these applications, you can generate greater revenue.
These were categories; now, let’s go through some on-demand apps popular in the market.
Few On-Demand Apps to Look At On
As business ideas discussed in the above section, you can launch your venture in a particular segment through already available apps in the market listed below:
It is a company catering ride-sharing services to the people, which was founded in 2009 by Garrett Camp and Travis Kalanick and is headquartered in San Francisco, California. The firm has earned revenue worth $17.46 billion in 2021 and is currently running in 72 countries and 10,500 cities.
Gojek was founded in 2010 by Nadiem Makarim, Michelangelo Moran, and Kevin Aluwi and is headquartered in Jakarta, Indonesia. Formerly, the company initiated its venture by providing courier and ride-hailing services with a group of 20 drivers, and currently, they are offering multiple services to people across 8 countries. The reason behind such widespread use across different countries is its business model through which the users and entrepreneurs receive several benefits by utilizing its innovative features and helping them to enlarge their business reach.
It is an Indian company providing food delivery service to the people for 8 years. Moreover, Swiggy was founded in 2014 by Sriharsha Majety, Nandan Reddy, and Rahul Jaimin and is headquartered in Bangalore, Karnataka. Initially, the firm offered two services: courier and shipping. Later with further advancements, it is catering meal and grocery delivery services to the people and is operating in over 400 cities earning revenue of ₹2,776 crores in 2020.
Perks of these Solutions to Business
As an entrepreneur, before registering your venture on these solutions, you must know the certain advantages you receive in operating a business through these platforms are stated below:
1. Higher Reach to Targeted Audience
The merchants can conduct effective marketing campaigns for their ventures through Gmail, Facebook, Instagram, and many other platforms to increase their business reach to a targeted audience.
The enterprise can handle any size of consumer traffic through these solutions as they are scalable enough to manage a massive user base. Also, the entrepreneurs can modify the features and functionality of the platform to satisfy the venture’s needs.
3. Raises Enterprise Profitability
Ventures can stretch their profit margins and generate massive revenues as the vendors can expand their business internationally in various geographical locations. Hence, they can receive greater conversions as more users across different locations use an application.
As an entrepreneur, you can implement any of the business ideas of the on-demand industry and can achieve a commendable position among the people. Nowadays, people prefer to use an application to fulfilling their requirements. Therefore, you can take advantage of the demands for these solutions and can get greater sales by making people’s lives easier.