One of the largest and most dominant food aggregators emerged in San Francisco in August 2014. If you are wondering which is that platform! It is obviously Uber Eats. It has teamed up with restaurants in 34 countries. Contactless delivery, self-pickup, and takeout are the three different ways by which the California-based platform earns revenue. Entrepreneurs can also make big money now! How is that possible? They can come out with an online food ordering app.
Decoding the revenue streams offered by an Online food ordering app
Commission per order
Wish to have a steady inflow of income? Yes, it is guaranteed when you start Ubereats like app development. Generally, technopreneurs can impose a commission for every order booked by foodies. How does this work?
They can join hands with popular bars, bistros, BBQ outlets, cafeterias, coffee houses, eateries, fast food outlets, fine dining restaurants, and pubs. Besides that, techpreneurs will benefit from flexible pricing. Likewise, they can modify the commission structure based on the average order volume received over a period, the brand reputation of eateries, and location.
Point of Sale (PoS) software
Restaurants would experience a surge in order volume from a Point of Sale (PoS) software. Food outlets can access multiple options like customer relationship management (CRM) tools, processing of debit and credit card transactions, the quick generation of receipts, and real-time tracking of inventory.
Foodpreneurs can offer subscription packages to customers. They can name it Pro or Premium to receive more traction. Further, coupons, discounts, offers, and promo codes can be provided to first-time users, as well as, regular customers. Consequently, the food plans can be made versatile with monthly, quarterly, half-yearly, and yearly timeframes.
Featured Listings for Restaurants
Famous eateries in cities and towns will be listed at the top of an online food ordering app. As a result, they would receive more bookings from users. This is because the number of search results is high. Hence, eateries would experience an increase in Gross Food Sales. Entrepreneurs can levy a higher rate from restaurants that have been existing for a long time in the market.
Registration charges from eateries
Restaurants can get access to a huge target market by listing their menu on a food ordering platform. As a result, they will get benefits like better brand visibility, greater revenue, and a higher customer base. Additionally, the registration fee can be varied based on distance from the restaurant’s location to various geographical areas, facilities like seating and AC, ratings, and the types of cuisines.
Delivery fees for orders
With skyrocketing petrol and diesel prices, delivery charges for sending food are also increasing. Likewise, technopreneurs can change the delivery rates based on the climate conditions, the distance covered by the executives, and the place at which the eateries are situated.
Want to maintain consistency in order volume? Yes, a digital food ordering system enables that too. Premium customers will be given reward points for every order. Moreover, foodies would be matched with top-tier eateries as per their spending habits.
Entrepreneurs can tap 2 sources of revenue by introducing a lucrative loyalty program. High-paying food buffs will pay a specific fee per month or year for being a premium member. Indeed, customers will purchase food at an affordable rate. Restaurant partners would have to incur the cost of selling food at an economical rate.
Publishing of targeted advertisements
Entrepreneurs can earn a higher return on investment (ROI) by owning an online food ordering app. Therefore, they can introduce tailor-made offerings for restaurants according to the daily and monthly visits by customers.
What are the numerous advantages of food outlets? They will get an upper hand by targeting the right audience, getting more customers, instant tracking of performance, and result-based payments.
An online food ordering app gives a greater impact through personalized advertisements across multi-media platforms. They can publish promotional content via mobile and web. Simultaneously, it generates higher guaranteed visits, strategic placement of food offerings, and real-time monitoring of performance.
Table reservation tools
With the number of Covid-19 cases declining, people are slowly flocking back to eateries. This leads to a necessity for a table reservation system. Subsequently, restaurant owners need to establish a page on a digital food ordering platform.
Later, they have to upload details of their food items. Once the admin of the food ordering app accepts their listing, they can start receiving bookings from users.
Eatery owners must incur a subscription fee. Additionally, they can use features like an automatic booking option, integration with numerous payment gateways, plugins with instant messaging apps and social media platforms, a rating and review system.
Unquestionably, high-ticket orders come from business enterprises. Therefore, entrepreneurs can partner with popular small and big enterprises across the globe.
They can entice working professionals with healthy meals. How do captivate organizations? Techpreneurs can offer coupons and vouchers to employees. Besides that, they can integrate tools like a self-service portal and real-time account manager.
More orders will be received by introducing recurring meals (daily, weekly, and monthly) and giving special coupons for celebrations, events, and other get-together occasions.
Other sources of revenue
Surge pricing based on the congestion in roads and packing fees is another 2 options that can be tapped by entrepreneurs.
What are the food ordering trends to watch out for this year?
- Customers placing orders from cloud kitchens.
- Introduction of organic items to enchant health-conscious customers.
- Incorporation of self-driving vehicles to reduce operating costs.
- Sustainable packaging to safeguard the environment.
- Hyperlocal operations to reduce the average delivery time.
With the rapid digitization of the food sector, it is perfect for entrepreneurs to kickstart Ubereats like app development. Hence, they can collaborate with an app creation enterprise now and experience scintillating success.