Why deciding on the business model is a must to build a successful marketplace?

Airbnb, Upwork, Fiverr, Treatwell, Uber, … Service marketplaces are booming in every industry and If you are interested in launching your marketplace business you are probably facing a few challenging decisions. Which marketplace software to use? How to build a good user experience and search engine? What are the main elements to consider if you want to create a B2B marketplace? or build a C2C marketplace? or launch a B2C marketplace? Building a marketplace with an existing SaaS solution is usually the fastest and most cost-efficient way to do so, especially if you are launching your minimum viable product (MVP) or if you want to avoid coding or developing an entire platform from scratch. The way in which you use your resources during the early stages can be decisive for your success so if you combine a powerful software with personalized expert support as we do with our Second solution, you are already on the right path. However, all service marketplaces do not operate in the same way and the same marketplace business model and features will not fit them all. This is why it is very important for you to define your goals, the type of marketplace which you want to build, the type of services which you will offer and the type of users which you will onboard. Understanding this will allow you to tailor your entire platform to your specific needs and choose the right software and marketplace business model for your project.