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If you have heard of apps like eBay and Craigslist, you are familiar with the basic functioning of a marketplace app. A marketplace app is an online version of a physical marketplace where different vendors sell and there are buyers coming in from several regions. There are two types of users for the app: dealers and clients. We shall talk about it later. First, the basics:
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The marketplace app can be a web app, a desktop app, or a mobile app based on the business owner’s preference. Marketplace apps are typically software solutions or tools used by merchants to create accounts, make a list of products in a product catalog, and accept orders from customers through the catalog. The app is also used to keep a check on the inventory of the products that they are selling, use the API of a payment processor to process payments for goods sold to customers and receive reviews from customers after delivering goods.
The app is typically used by customers to view merchant offerings within a particular interest category (such as home appliances), browse merchant sales and discounts on those offerings within that category, make purchases from merchants using supported payment methods (such as PayPal), and leave reviews for sellers once they have received their delivered items.
If you’re someone who’s thinking of building a startup business in this sector, this is the perfect time for you to hire an eCommerce development company. You can opt to build an MVP of the marketplace app, which helps with a cost-efficient product initially and based on the response you receive you can make the required changes in the next iteration.
The cost to build a marketplace app can be as low as $20,000 or as high as $100,000 and even more. There can be variations to this cost, let’s understand how the marketplace app development cost range can be bifurcated based on the complexity in terms of features, functionalities and technology:
Understanding the on-demand home services app development is important since they are a type of marketplace app built as a variations. Whenever one thinks of venturing into marketplace business using a mobile app, there are several questions that they are required to answer about the type of app and business model they are about to choose.
A marketplace app is not just any other app where you put up some goods or services and your customers pick up their likings and pay for it. In a marketplace app, there is a provision for both buyers and sellers. So, considering that scenario, one needs to hire marketplace app developers who can guide them about the types of apps and their revenue model. Here’s a brief bifurcation on the different types of marketplace apps:
The cost to develop a B2C marketplace app with basic features can be deduced based on various factors that affect the development. These range from design and project analysis to all sorts of backend and frontend developments. Depending on these and many other factors, a basic B2C marketplace app development cost can range from $30,000 to $60,000.
Mobile app development cost involves the cost of planning and blueprinting the project, designing, and developing. Now, two major categories affect the overall costs of the product –
Let’s understand the complete clone app development scenario with the example of TaskRabbit-like app development requirement.
Many young entrepreneurs prefer going for clone app development to save costs as it makes a big difference. The steps to build an app are significantly brought down for the clone app. The app development agency, responsible for marketplace app development, would use the ready-to-use designs and codes to build the app or it will take a famous application’s reference to build a similar white-label solution for the client.
For instance, a TaskRabbit clone marketplace app development cost would be less as compared to an app built from scratch. It is because the mobile app developers will have a clear idea and probably the ready-to-use codes and designs from the previous TaskRabbit-like apps they have developed.
Some businesspersons prefer building a marketplace app from scratch as per their choices and facilities. They can customize it the way they want and therefore the cost will be a bit higher as compared to the TaskRabbit app development cost estimation they get from their tech partner because mobile app developers will have to start from wireframe to building prototypes and deploy it according to specific platform or network.
Look at how the costs differ if you’re building a marketplace app from scratch and the TaskRabbit clone app development cost.
Now that we have extensively talked about the costs of building a marketplace app, another factor that might be crucial for you as a business owner is the time taken to build the app in its entirety.
Developing a mobile application takes up a lot of work in the comprehension of the business model, the features that need to go into the app in terms of both the seller and the buyer, the tech stack used, UI/UX, and a lot more. These things need time to take shape and thus, time is a significant aspect of marketplace app development. Here what matters is hiring a leading company to develop a mobile app.
Typically, a marketplace app can take up nearly 422 hours of the developer’s time to come into shape. But, since we talk of the variations of the app, it is imperative to mention these variations in time as well. The app can be successfully built in as low as 267 hours and can go as high as 667 hours based on the complexity, type, and business model of the app.
Marketplace apps unite sellers and buyers from different regions and let them trade and do business over products and services, all in one place. Marketplace apps are a great way to connect with people selling goods or services from far away and vice versa.
Marketplace apps would be seen as being preferred over regular eCommerce apps because they let the buyers and sellers connect with each other. It is a great time to invest your time and money in building a marketplace app at this point. The eCommerce app development cost especially built for marketplace apps in its variations has been extensively discussed above as a complete guide.
Want to Create Your Own Custom Marketplace App?
The marketplace app development cost ranges from $20,000 to $100,000, when you hire dedicated marketplace app developers.
Development cost for Taskrabbit clone marketplace app starts from $10,000 with only the most basic features. Now as advanced features and functionalities are added the budget also increases.
To have a better idea about the cost to develop a clone of TaskRabbit like app it is better to consult with experts.
On an average, it may take around 4 to 6 months or more to build a marketplace app, considering design, development, testing, and deployment stages. The development timeline depends on the complexity of the project, features and functionalities to be added.
At the same time opting for a Taskrabbit clone marketplace app may take you only about 1-2 months to launch your marketplace app in the app stores.
Yes, besides marketing, and customer support costs, there are ongoing expenses such as app maintenance, app updates, server hosting, and bug fixes. It’s crucial to consider the ongoing costs for these aspects for long-term success of the marketplace app.
If you want a customized marketplace app built from scratch, consider starting with an MVP (Minimum Viable Product) approach by prioritizing core features to focus on.
But, if you are looking to have a marketplace app similar to Taskrabbit at a reduced cost opt for a Taskrabbit clone app, which will help to reduce your development costs by 1/3rd and also launch your marketplace app faster.
He loves challenges and adept at finding tech-solutions that complement business ideas. Working in the capacity of Project Manager at Prismetric he strives to leave no chance for glitches in his implementation. He incorporates his extensive experience in his writings about new gadgets, tech stories, updates and innovations in technology, management tips, and inspiring app technology related information.
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