Statista has estimated the revenue for the food delivery sector to be $94.38 billion as of 2019. The estimated annual CAGR growth (2019-2023) is forecast to be a 9.3% growth resulting in a market revenue of $139.49 billion by 2023. From these statistics, it is evident that the demand for food delivery services is significant in the forecast period. With the right development approach business owners can gain significantly through the food delivery apps. Here are some of the proven revenue streams for your Zomato like app:
Advertisements: Customers always look for their restaurants using Zomato like apps. Restaurants captivate the presence of large audiences by advertising via food delivery apps. They are paid as per the number of views, clicks leading to their official page, and so on.
Convenience charges: Customers have to pay specific charges for using the platform resources. In the long run, when there is a whole list of customers, this charge will lead to a significant profit margin.
Delivery charges: For every order placed through the app, a fee needs to be paid depending on the distance between the customer’s location and the restaurant. The delivery charges contribute to a significant amount of profits.
These are some of the widely known revenue models to be used by food delivery companies. By inculcating the best revenue model for your business you can gain significant profits