The Scope of caregiving service booking marketplaces: Untapped business ideas & how to launch such a business?
Service marketplaces have become the millennial’s way of meeting their emergency needs. And the fact that the service market has already commenced exploring diverse markets, makes the same one of the most potential industry worldwide. However, when everyone is busy investigating the success of Uber and Airbnb, the care service industry remains little explored. According to Forbes, Apps and online tools for family caregivers will be widely adopted. Anyhow, the caregiving is not merely regarding patient care or taking care of senior citizens. Further, it involves babysitting services, pet care, and home care as well. Because of inside business possibilities, the care service market will be one of the best choices for someone who seek their fortune in the global service industry.
Unexplored Care Service Possibilities for Millennial Businesses
As we all witnessed the recent adaption of food and grocery delivery, the same is the case with the care service industry. We- Agriya believes that the future of business is getting much closer to the customers. The businesses that address many personal needs of the population is more likely to succeed in the future. Because caregiving is an issue that is sensible, also includes a significant amount of emotions, there are more possibilities for such businesses to earn loyal customers. Below listed some of the most potent business use cases in the care service industry.
Aging is an irreversible process in life. No matter how hard we try, it is something we cannot keep hidden for long. And as we grow older, we need companionship more than ever before. In fact, interdependence is the future of humanity; for we have realized the significance of socializing and holding each other up. When seeing elderly care from a business perspective, one’s duty is to address the problems with taking care of senior citizens. As the world has gone crazy and began pacing towards more advanced, the time we invested in our personal relationships and family has diminished. And that shouldn’t go up to the state of abandonment? A caregiving service business intention should solve this issue by providing proper care to the needy.
In addition to that, the figures from the World Bank suggests, 8% of the global population is above the age group of 65. And this figure is increasing substantially year by year. Plus, the care service marketplaces are predicted to experience growth of 75-80% YOY in the next few years. Hence and so, if only you managed to set up an inclusive service booking software, you can try your luck in this market before the favor changes its course.
Similar to adult care, taking good care of children needs great attention and patience. And during our busy hours, it isn’t practically possible, especially in this 21st century. This is why on-demand child care service matters. Unlike a baby sitter, a child caregiver can handle all the emergency needs of a child. And if you doubt the potential and growth possibilities of this specific niche, let us enlight you with the fact that the childcare service is a $48 billion industry as of now.
However, the main alluring factor is, this service marketplace built especially for childcare can simplify a whole lot of our efforts. For instance, one doesn’t have to visit all the babysitters and child caregiver firms. They can easily find the appropriate caregiver through the list which is provided in the marketplace. Also, the infant care business model is considered one of the most profitable model; for it has really the high-profit margin of average 96%.
If only you know how vast and broad the pet culture is, then you can comprehend the opportunities of a pet care service business. People raise pets for diverse causes. When some to help themselves redeem from the isolation or depression, others find it just fun. Either way, the difficult part in having pets is taking care of them and keeping them engaged and cheerful. So, how come it possible for millennials to invest a portion of their valuable time when they have many important things to be taken care of? Well, a pet care service business is the ideal solution for this.
A pet care business allows its users to access their service marketplace software, through which they will be given a list of service providers nearby, users can choose and book the service they need. This will possibly take 5 minutes, but imagine visiting all the pet care services in the locality, how much time will it consume? However, the pet care market is expected to reach $96 billion by the year 2020, thus signifies the best service business possibility among all.
Building an Inclusive On-demand Service Marketplace: Approaches and Methods
Soon as someone makes up their mind on a specific care service business vertical, it is time set up the digital platform, a service booking solution if being precise. However, building an on-demand marketplace is a tedious process as any other web or app development scenario. Anyhow, there are two different ways from which you can choose your preferred mode of on-demand development.
Developing the Platform from Scratch
Being the most familiar mode of development, this would be anyone’s preference at first. And trust us! If you have resources, investment, an expert team, and a clear vision and planning, this is the ideal path you should take. However, without access to the right tools and resources, you will be fighting a ghost. And remember this, with a distorted approach, you will never succeed in creating an app from scratch. So now, what are the essentialities you must need to engage in the app development process? Below listed the progressive steps to efficiently develop an on-demand app.
- Set a goal
- Create a sketch outline for your ideas
- Create wireframes
- Define the backend of your platform
- Scrutinize the model
- Commence building the platform
- Design the look and feel
- Test your platform to ensure utmost efficiency
- Perform beta testing
- Deploy the app
Employing Ready-made Software Solutions
This will probably be the easiest way to kickstart a business as of now. Ready-made solutions are cookie-cutter software, which fundamentally are fully-matured scripts ready to be deployed. Let’s take Agriya’s on-demand service booking solution as an example. Unlike the customized platform you build from scratch, this script is comprehensive in terms of functionalities, attributes and more. Also, the script is made open for customization; because it can be transformed according to your unique business requirements.
In a nutshell, ready-made solutions are the simplest way to deploy a digital platform if you are someone who doesn’t want to spend a considerable amount of time and efforts on development. Also, the possibilities of human errors will be less. Most importantly, it is cost-efficient and will eliminate the risk of failure you have while developing your own platform.
The potential possibilities of caregiving service marketplaces are infinite, and those who are willing and brave enough to explore the unexplored will find the answers they are looking for. Because the odds are in favor and the opportunities are at the peak, this will be the right time to kickstart a care service business. All the aforementioned information are clearly analyzed and revised to make sure it clearly facilitates the aspiring entrepreneurs. However, we suggest performing intense research and analysis on the market, competitors, and demands to make sense of your strategies and efforts.