Reasons For the Emerging Importance of On-Demand Business Model
With the ever-increasing pace of life and the scarcity of time that people nowadays face, the on-demand industry or the uber for x business model has improved by leaps and bounds. The initiation of this revolutionary idea was done by uber the taxi booking app and from then on uber stands for anything that can be ordered and brought to you rather than you going to it.
From morning till night all we are surrounded by is the on-demand industry.
Everything we want or any service that we want to avail is available at the convenience of our footstep. Not only has it made things far more easy and convenient for the common man but also created a plethora of job opportunities for the employed.
Why are investors looking to invest in the on-demand business model?
In traditional times starting a business involved a lot of thought, investment and a great idea that clicks with the audience. With the on-demand industry, the basic layout of the business is in place. All one has to do is to look out for a service that is yet to be discovered or put into use by the on-demand industry.
Funding
Be it a small business or anything else funding is one thing that can play a make or break when it comes to the working of a business. Idea and execution can only play their part only if there are funds to put these into the field for the execution of the ideas.
The advantage of the on-demand industry is that the investment required is comparatively less and also with a credible concept of on-demand raising funds can be comparatively easy.
Also, we have various funding options opening up for startups which include
- Crowdfunding
- Angel investing
- Venture capital
- Bank loans
- Business incubators and accelerators
- Loans from microfinance companies
- Loans from governments
Areas not yet fully explored by the on-demand industry:
Healthcare:
One of the most neglected and underrated field in the on-demand market is healthcare. Social entrepreneurs who want to bring a change in society can leverage the potential of the on-demand healthcare business. There is a lot of scope for improvement in healthcare with respect to the on-demand industry.
Fashion & Style:
Nowadays people want to spend less time on beauty even it is a bit expensive. On-demand beauty apps are the future of the fashion and style industry. One of the major reasons for people not opting for beauty services and indulging in fashion a lot is the time and travel that it includes to go to the beauty salon. With the on-demand, this problem is set to be taken care of and this industry is set to flourish big time.
Housework:
Working class people mainly in the corporate world prefer to outsource the housework. Housecleaning, cooking, and babysitting are some of the works that people would like to outsource. But finding best in class professionals with the right kind of skill set is difficult and if a startup can rope in these professionals and provide them to clients it can really turn into a revolutionary idea.
With the on-demand industry expanding into every frame of life investing in it is a thought that must be nourished and given its due weight.
