In this digital era, on-demand apps have taken over an extensive portion of the app development segment. Be it ordering food/grocery or availing of home cleaning services, there will be an on-demand app for everything. However, there is no wonder that a marketplace platform like Thumbtack is also significantly generating high revenue.
A recent report shows that the on-demand market’s net worth is projected to increase at a compound annual growth rate of 70.5% between 2021 and 2025. So, developing an on-demand app is a billion-dollar business idea that you could consider to gain profits. If you have a business idea of launching a handyman app, investing in the Thumbtack clone app is a wise choice. That’s what this blog is about.
Reasons To Invest In The Thumbtack Clone App
Thumbtack is an on-demand handyman app that connects customers to nearby professional service providers. It is one of the leading on-demand service providers, which was founded in the year 2008.
The total funding received was $399 million and its net value is about $1.7 billion. The number of app downloads was over 1,000,000. This platform allows skilled professionals to offer services to the customers.
Stats show that the on-demand home service market is forecasted to reach $1574.89 billion with a compound annual growth rate of 53% from 2021 through 2024. Moreover, nearly 22.4 million people in the United States spend about $57.6 billion.
As the on-demand market’s value is surging, it is a wise choice to enter it with a similar app like Thumbtack, as you can draw attention from broader customers across many countries.
Business/Working Model Of An App Like Thumbtack
An app like Thumbtack connects the customers who need service with experienced service providers who are looking for a job. Let’s understand its business/working model.
At first, the customers register with an on-demand app by providing the required details. They can post a service query with their requirements and contact details. After that, this query will be passed on to the nearby or local service providers. But, the customers’ contact details will not be shared in which number is masked for their safety.
Then, the interested and available service providers pay to submit the quote by posting a job description which will be passed on to the customers. Once done with the payment transactions, the customers’ contact details will be shared with the concerned service provider.
Customers choose the service provider based on the quote estimation, customer rating, and business profile. Moreover, customers have the option to contact the service provider to get to know more details regarding the service. After availing of the service, customers can give ratings and reviews to the service providers if they wish.
Let’s See The Requisite Features Of The Thumbtack Clone App
Seamless Onboarding Process
The first step is simple registration, in which customers have to sign up using their email address or phone number. Or else, they can register via social media platforms as there is no need to enter the details manually.
After the onboarding process, customers can create their profiles and update the information. They have to validate the contact details like phone number/email address. This is to prevent fraudulent registrations.
This is a helpful feature for customers as they can quickly search for service providers with the help of filters. It includes location, services, pricing, and many more. Besides this, they can search using their voice commands to save time.
Ratings and Reviews
It helps to improve customers’ trust in the marketplace community. Once the service gets over, customers give feedback to the service providers. Thereby, this allows the other customers to choose the best service providers.
Customers and service providers can communicate with each other to clarify doubts regarding the service. Nowadays, customers prefer to opt for messaging over a call. So, it would be great to incorporate both the in-app chat and in-app call features as customers select it as per their choice.
Schedule/Cancel a Service
This is a necessary feature for customers’ convenience. They can schedule service according to their choice by providing a date and time. It helps both the customers and service providers to manage their time. Apart from that, customers can cancel their bookings for valid reasons.
In-app payment is a safe and secure way to make transactions. Customers can pay for the services through online payments, which include a credit card, debit card, UPI payment, and e-wallet. So, they can choose their convenient payment modes.
It is necessary to establish a direct connection between the customers and you (customer support team). If customers do not get their queries resolved on time, they feel frustrated and annoyed when using your app. You can let the customers find out answers by checking a FAQ section as this does not need any assistance from your side.
Using this feature, you can improve the app engagement rate. Sending suggestions or relevant short messages periodically will make the customers open the app and avail of your services. Also, it will decrease the app churn rate and retain potential customers.
Reliable Technology Stack Used To Develop The Thumbtack Clone App
Choosing the best technology stack will help to develop the best-in-class Thumbtack Clone app. A technology varies depending on the requirements and platform you choose to develop & launch. The technology stack consists of the following.
Front End Development – AngularJS, React JS
Backend Development – Python, PHP
Mobile – Swift, Kotlin
Database – DynamoDB, Postgres, MongoDB, Elasticsearch
Data infrastructure – Airflow, Cloud Dataproc + Scala/Spark
Payment gateway – PayPal, Stripe
Geolocation API – Google Maps
Revenue Model Of An App Like Thumbtack
Thumbtack does not charge any penny for posting a query from the customers. Customers have to pay only for leads. On the other hand, service providers have the option to begin with a quote of 10. Moreover, the number of credits varies depending on the service type. Let’s get deeper into the monetization strategies you could consider to generate revenue from a Thumbtack like app.
You can get profit by charging some percentage of the amount as a commission fee on each lead. This is from the payment for finishing service and pay-per-lead model. The Pay-per-model lets you charge a fixed fee for a lead with the taskers.
It is a freemium pricing strategy in which you can allow the free users to access only the basic features and paid users to access the special features. Providing exciting & user-friendly features for premium aspires the customers to avail of a subscription plan.
Thumbtack does not generate revenue via this monetization strategy. This model facilitates you to earn more money by charging third parties to promote their products/brands/services on your platform.
Partnering with other brands helps to enhance the customer base and shared profits. For instance, Thumbtack partnered with Nextdoor.Inc and got a commission from purchases. It became the go-to platform for those who seek help which in turn saves time.
What Will Be The Cost Of Developing A Thumbtack Like App?
The cost varies depending on the approach you choose for Thumbtack like app development. Creating an app from the ground is expensive compared to opting for a white-label & ready-made on-demand app.
Mainly, app development cost relies on your business requirements and needs. Here is the list of prominent factors that contribute to the app development cost.
- Location of the app developers team/company
- App complexity
- App size
- App design
- App features or functionality
- Third-party service integration
- Technology stack
Now, you are clear about Thumbtack like app development as it seems to be an excellent idea these days. However, a surge in demand for on-demand apps inspired many entrepreneurs to start a venture and plunge into this profitable market to gain more profits. Well, if you are willing to enter the on-demand market with the Thumbtack Clone app, feel free to contact us and get your on-demand app designed and developed that fits your business needs.