Starting a multi-service business isn’t easy; there are lots of things that you need to consider, from deciding which type of service you will offer to who is your targeted audience and much more. There are plenty more to consider; explore this guide to find how and why you must launch your multi-service business online.
COVID-19 has changed online shopping and customer preference to a great extent. Data shows that individuals prefer to order one or another thing from brands online every two months. Either they shop for cosmetics, medicines, day-to-day essentials, or other products from top service providers in the market.
Looking at the growing digital space and customers’ demand for having things delivered to their doorsteps instantly, it becomes vital for you to focus on developing your business presence online. Beginning an online multi-service venture can prove to be a profit-making decision as more customers these days are ready to pay for convenience.
On-demand Service Market is Growing Steadily: Check How?
Multi-service business giant Gojek tech raised around 65 million in annual revenue; the estimated revenue per employee is around 91,000. The company provides multi-services to customers in different regions. It works on a match-matching algorithm to provide the best service to individuals’ demands. Be it ride-hailing, meal delivery, or any other; you can get all your needs satisfied using one single app.
According to Market Watch, the global multi-service business market size is increasing steadily. To overcome business challenges, brands are choosing to go with SWOT analysis. They are opting for new approaches and growth strategies to ensure their business survival in today’s competitive market.
The rise of super apps has increased and disrupted the internet economy. Everyone from payment apps to meal delivery is looking to evolve into a one-stop solution for people. The multi-service platform makes it easier for brands to provide different business services under one roof. However, it makes it easier for patrons to get all their work done without any hassle.
Different Types of Services You Can Start Offering
No need to stick to one business service offering anymore; there are lots of options that you can choose when it comes to initiating an online business. You can make an app similar to gojek to enable your targeted customers to access all the services with a single sign-up process. The feature-rich and easy-to-use mobility solution will help you manage your business systematically and have complete control over every business activity. Moreover, it helps you provide various services as follows:
Verified Market Research shows that the handyman or home service market will be approximately 400 million in 2021. It is expected to grow around 20% between 2022 and 2030. Due to a busy lifestyle, people are likely to take support from professionals that can help them with their day-to-day work in exchange for a small amount.
Child Care Services
The child care service market in the US reached around fifty billion in 2019. It is expected to grow by 3% of the CAGR between 2020 and 2027. Looking at the growing market, it is a better option to start offering child care services to those working parents who don’t have enough time to take care of their babies.
Online tutoring services in the Asia Pacific are expected to reach around six billion in 2021. The market is expected to grow by 14% CAGR between 2022 and 2030. Online education has experienced a splendid jump in recent years as more students are likely to have virtual experiences. It helps them to understand any concept and grasp it more effectively.
Besides the above listed, there are a lot of other business services that you can choose to provide to ideal shoppers. This includes beautician & skin care services, gadget repair, and many other services. Get the support of a mobile app development company to launch your venture online. Also, ensure to avoid making common mistakes when creating an online presence. Starting a business can help you drive great profit to your table.
Top Factors to Consider While Launching Your Multi-service Business Online
More than half of the global audience comes in the digital population category. Hence it is crucial for enterprises to focus on developing their brand presence digitally. Not having an online presence means losing broader opportunities that are waiting for you.
However, if you are thinking of launching your multi-service business online, there are lots of factors that you need to take into consideration. Wondering which are those aspects, then continues reading to find an answer to your question.
How can you jump into any business venture without knowing about it? Market analysis is the very first step that you have to consider. Not having deep insight into the market can result in assembling wrong and loss-making decisions.
Hence it becomes essential for you to perform deep research that helps you know lots of things like which type of service is more prevalent in the market? Which business service offering can provide you with more profit and more. Don’t forget to analyze competitors’ branded solutions and strategies, as it can help you have better insight into how they cater to growing demand and more.
Know About Your Targeted Audience
Knowing what your customers expect and how to satisfy their needs is just like winning half of the battle. Remember that it’s your customers who will help you keep your business operational for longer; hence it becomes vital for you to know everything about your targeted audience. Make sure to know about their likes, dislikes, and more. Understanding your ideal customers’ needs can help you start a successful venture.
Choose Right Platform
Finalize whether you want to target a large group or the one that provides you with a steady income. If you are looking to reach a wider group, then developing an android app is a better option; if you want to reach people who ensure a steady income, then going with the iOS app is a better option. You need to understand that platform selection affects the overall cost of giving digital touch to your business.
No matter whether you are looking to start a large or small business, there are a few must-have features that you need to include in your branded solution. But don’t make your mobility solution stuff with lots of features as more users these days love to use the simple app and website. The more your business solution is complex, the greater the chance that people will abandon it.
Consider Maintenance and Security
Make sure to keep your business app updated to avoid bugs and other issues. Also, don’t forget about the security concern as your business and customers’ data is very valuable. Your audience is worried about the theft of their crucial details; hence it becomes essential for you to win their trust by providing them with top-class security.
Starting a multi-service business is not as easy as eating a cupcake. You need to consider many things and go with lots of planning and plot to get started in today’s competitive market. However, we are sure that this guide will help you avoid common mistakes and create a successful multi-service venture online.
Charlos James is a writer, blogger, serial entrepreneur. He has an avid interest in content creation, digital media and business.