Currently, every business sector has shifted online by adopting the digital paradigm. Because the requirements for digitized solutions have skyrocketed to a great extent among people for every specific purpose. Similarly, the demand for online food delivery vertical has increased significantly between users, especially after the pandemic.
There are various countries where the demand for a meal ordering segment has experienced a considerable push. Germany is one of them, where numerous food ordering apps swelled commendably, contributing to the hyperlocal meal delivery market. Hence, it’s expected that the revenue of a food delivery segment in Germany will hit a value of $26.63 billion by 2027, as shown in the below figure.
There are various contenders responsible for such an increase in requirements of the food ordering segment. It includes Lieferando, Uber Eats, Foodpanda, Wolt, and many other players. Foodpanda, among all those, acquired massive grounds in terms of generating revenue. Hence, if this firm inspires you to earn such income by creating a solution similar to it, then here, some revenue streams and attributes that assist your venture to earn substantially are discussed. Reading to them will help in boosting the earnings of your enterprise.
Table of Contents
How Foodpanda Makes Humongous Money?
According to 2022 statistics, Foodpanda’s revenue bolstered to 62% in 2021. Now you must be willing to know the revenue channels of Germany’s meal delivery giant to implement them while developing a platform similar to it. So, consider each of them stated below:
Enrollment Fees
Local restauranteurs who want to receive orders online can register their eateries on a platform. Startup owners need to pay fixed charges of $100 – $150 for enrolling the names of their ventures in an app. Hence, deducting registration fees from local vendors for listing the names of their businesses on a solution becomes a part of essential streams of revenue for a firm.
Advertisement
There are many small-scale enterprises in a town that requires a reputed platform for promoting their trades. Foodpanda is a perfect place to market the food business of local merchants. So, they can advertise their restaurants to outreach more audiences through its app. But, in return, it demands a specific amount from vendors for marketing their ventures, and it gets counted as a source of income for a company.
Delivery Charges
The users of a solution pay certain fees to an organization on placing every order from an app. It is because they get their favorite dishes from a particular restaurant delivered to their homes in a minimal period. Besides this, they also need to pay some taxes that are laid according to the specific country. In this manner, it becomes a vital channel for a firm to earn a large sum of money.
Recommendations
The company also performs affiliate marketing of several banks by providing suggestions to consumers for making payments using credit cards of particular banks. Furthermore, the specific banks also provide offers and discounts to users of a platform to tempt them for performing transactions by utilizing their cards. Thus, a firm makes money by displaying recommendations of numerous banks to its customers.
Eatery Commissions
Restaurants registered within a solution pay a fixed proportion amount as a tax to Foodpanda. They are deducted with particular charges on getting paid for each order received and accomplished through an app. The eateries are charged a commission of 15 – 20% from every payment. In short, an organization earns an income through this revenue channel.
As an entrepreneur, you can keep in mind the strategies mentioned above to apply them while Foodpanda clone app development from technology partners. Alongside this, you can increment your income by implementing which specifications in Foodpanda like platform. Refer to the following section for the same.
Several Features To Consider For Foodpanda Like App That Can Boost Revenue
Attributes are the only things that are analyzed by users before utilizing a solution to fulfill their cravings for particular dishes. If your application possesses demystifying and distinct features, then there are very high scopes of fetching new consumers for using your platform. As a result, by accumulating a significant audience, you can make your venture more profitable.
So, consider the certain specifications for embedding in an application like Foodpanda described below, which can show wonders to your enterprise.
Table Booking
Customers can reserve a table by using a solution like Foodpanda. They just need to enter the number of persons and a particular time at which they would like to arrive for lunch/dinner at certain eateries. It will provide them with a customized experience of utilizing an app. Hence, by equipping a Foodpanda like platform with this attribute will assist you in increasing usage traction among consumers.
Multiple Payment Methods
Today, there is not even a single application remaining to keep numerous options inside for settling the payments of its users. So, it has become mandatory for business admins to offer different payment gateways in their solution to provide customers with the utmost convenience and to survive the competition. Moreover, by accessing a vast range of payment methods, the security throughout an entire transaction should be maintained, which helps your venture gain the trust of maximum consumers.
Choose Various Items
Allowing customers to choose multiple food items in large quantities would reduce the toil of users to select individual items iteratively. After adding them to the cart, they can also remove the ticked products of a specific category, which would make the process of managing their carts streamlined to much extent and offer them a personalized experience.
Track Delivery Providers
By accessing this feature, the customers of your application similar to Foodpanda, can get an exact idea of their orders. Once when it’s finalized, prepared, and assigned to a particular delivery professional, the users of a solution can trace them and know the precise location of their order. Alongside this, they will also be given an estimated time of arrival of their order at the doorsteps.
Schedule Orders
In case of any occasion or festival, the users of a solution are unable to order food on a particular date due to any reason. Hence, to avoid such issues, the feature of ‘Schedule Order’ has come as an escape for people. They can order certain items from the specific eatery in advance to receive them delivered to their doorsteps on a preferred date. So, for scheduling an order, the consumers require to give a date and time by which they want meals provided to them.
Hence, implementing the above-described attributes will assist you in receiving a platform similar to Foodpanda for your business, which would likely make your venture stand apart from its existing food delivery rivals. Moreover, it will also help your enterprise appeal more effectively to its targeted audience, which can probably open the brighter future scopes for it to earn a colossal income.
Summing Up
Observing the solid rise of Foodpanda and its revenue, you might be motivated to implement specific revenue strategies while developing a solution similar to it to start generating a massive income. Hence, here are some channels and features that will help your venture to increment its earnings considerably.
Apart from that, getting a Foodpanda similar platform with diversified revenue streams is a suitable choice for your eatery business, as people nowadays prefer to install digitized food ordering solutions for receiving meals delivered at their places without any hassles.
