How does TaskRabbit Works: Business and Revenue Model Explained
We are living in a digitally advanced world with the means to get all that we want. Any household chore or other crucial operations, our mind directly hits to whether there is an app for it or not. We have become dependent on these platforms, and don’t even want to lift a finger to accomplish our tasks.
A two-sided service-based marketplace business model is the key and one of the most prominent business models. One such platform is TaskRabbit which offers commendable services while taking the on-demand home service market to a new level.
You might look at these applications and think how profitable a two-sided marketplace can be, but don’t let its achievement make you a fool. Developing your application is never a simple task, but requires a lot of effort and the right development team.
So if you are planning to develop a two-sided marketplace application like TaskRabbit, let us discuss the details and how the app brings money to the table. Let’s get started!
About TaskRabbit
Founded in 2008, TaskRabbit is a marketplace application that helps people with their routine and household tasks. You can avail yourself of all the services from cleaning, delivery, moving, handyman tasks and others. It allows the users to post tasks they want to get done and select a tasker from the freelancer’s pool to complete the task. You can avail of freelancers based on their experience, charges, ratings, and more.
- The app was founded in the year 2008 by Leah Busque. Build with a prototype and received $1 million in funding from Baseline ventures.
- The app was acquired by the IKEA group in 2017.
- In 2015, the application raised funding of around $38 million.
- By 2020 the app became so popular that it had more than 140,000 taskers and more than 60% of these were millennials.
Business Model of TaskRabbit Explained
The TaskRabbit is a popular platform that acts as a middleman between the Tasker and the Task Poster. In a nutshell, the app creates a supply for the services. The app offers a plethora of options and ensures the task poster selects the best-suited person to get their job done.
It is generally an aggregator model where the platform does not have any assets and inventory of its own. It is just a connection with one another. The potential of the on-demand economy is huge and if you are planning to develop an app like TaskRabbit, you must have an idea of its working and model.
TaskRabbit Working for Users or Task Posters
- The platform allows users to find help with household chores and daily tasks. All those who want to hire a freelancer to perform the tasks can list them on the platform.
- To begin using the platform, users register themselves on the application by entering their names and other details. They can also add the payment and their card details on the app for the transactions.
- After the registration, users can begin searching for the taskers (freelancers) to perform their job. For job posting, users enter a small description of the task, address, and other details.
- After entering all these details, there is a list of taskers on the screen.
- Out of the list, users can apply the filters and choose the one as per their needs. The freelancers can be sought based on the price, reviews, budget, and more.
- App uses the geolocation feature and provides the freelancer lists in a short possible time. There is an in-built chat option to discuss any further details.
- Users can rate and review the taskers depending on their experience.
TaskRabbit Working for Taskers
- The foremost thing a tasker does is register. They need to create a profile and enter all details like name, address, experience, and more.
- Tasker can enter their card details, which makes the process of payment easier.
- The app may take time to verify the details and go for a background check to approve the taker's profile.
- Once the profile is approved, the taskers begin to get requests for the tasks they have expertise in. Based on their schedule, they can either accept or reject the requests.
How does TaskRabbit work
The working of the platform is quite simple and offers convenience to the users. You have to post the details, find a professional to compete for the task, and get the work done. Here is a detailed process of the app working:
1. Choosing Category
As the customer open the application, they need to choose their desired category. There are various categories of the tasks, and they select one of them to post their tasks. These categories are varied and are divided into packing and moving, handyman, cleaning, and other services.
2. Add Description
After selecting the category, you need to add a description of your task. These details can be work-related, specific instructions, address, timings, and more. Once you fill in the details, you can post your task on the app.
3. Compare Taskers
After you post the task, you can find different freelancers in your nearby location who possess the skills you need. You can check the list of these freelancers and their details as well. You can choose the freelancer as per your need, and once you have finalized them, you can hire them.
4. Chat With The Tasker
After you have finalized and hired the freelancer, you can chat with them for confirmation or discuss any further details. It depends on the tasker, whether they want to accept or reject the request based on their schedules.
5. Completion Of Task
After task selection, the freelancer will come to your address at the specified time to complete the task. Once you do the task, you can make the payment directly through the app.
Value Propositions Of The App
Value Proposition For The Task Posters
- Task posters can avail customer support throughout the day.
- Users can find freelancers for every task and get help with household work in their local area.
- Task poster offers complete information about the work and ensures there are no issues during the delivery.
- They get a pool of freelancers to choose from.
- It provides them the security of information and reliability for task completion.
Value Proposition For Taskers
- It provides an opportunity for them to earn an extra income
- Jobs are locally available, so there is no hustle for more traveling and is on time.
- As soon as the work completion, the app offers instant payments.
- The working hours are flexible without any long-term commitment.
- Freelancers have an opportunity to accept or reject the task assigned to them.
Revenue Model Explained- How does App Make Money?
If you are planning to build an app like TaskRabbit, do not worry about the monetization strategy. The app offers many ways for the business to earn and make a desirable income. If your app can provide value to the users, you can generate a profit out of it. Here is how you can make money:
1. Commissions
It is one of the most widely used monetization methods that help you generate a good amount. For every deal, the app can earn a commission. It can be either a percentage from payment or a fixed charge.
2. App Subscription
Also called the freemium model, it allows users to avail the basic features for free of cost. If the user wants to upgrade their services, they will have to pay for a subscription.
3. Advertising
For businesses with a similar niche can display their ads on the platform. They can charge for the advertisements, and with every click and lead, the app can earn revenue.
Partnering with reputed brands like Amazon can help you earn affiliate income from every purchase. It also offers a one-stop-shop experience to the users, spares them time, and offers them satisfaction.
Winding it up!
So now you have the complete information on TaskRabbit- working, revenue, and the business model. Are you ready to launch your own home service marketplace application?
The only thing you need here is to get in touch with the best on-demand app development company and convert your dream app into reality! What are you waiting for? Contact ToXSL and get the support you need to build a robust application.
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