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How On-Demand App Businesses Are Reshaping the Future

 

The year 2022 has been phenomenal for technology startups. Out of the total 900 unicorn businesses this year, around 300 belong to the technology sector, including fintech, eHealth, and on-demand startups.

on-demand mobile apps

From on-demand ride-booking apps like Uber to apps for daily groceries like Insta Cart, we use several on-demand mobile apps to perform most of our day-to-day tasks. The post-pandemic era has drastically impacted traditional business models, forcing old-school businesses to either adopt a modern business approach or face a complete shutdown.

This blog will discuss how on-demand app businesses are reshaping our society. It will cover the four most profitable on-demand app business ideas to invest in 2023, along with a glimpse of the emerging trends in app development to watch closely.

Let’s get started!

Impact of Emerging Technologies on Conventional Businesses

Digital enablement of startups and small businesses has been a burning issue since the pandemic. The drastic change in customer footfall was a clear indication that no business, regardless of its nature and size, can survive without embracing digital transformation, let alone thriving.

The WFH culture and the increasing number of remote and hybrid jobs since the pandemic are the very reasons for the drastically lowering customer footfall. With user-friendly and easy-to-use mobile applications available for online shopping, people now prefer using on-demand apps for ordering food, grocery, clothing accessories, home d├ęcor items, and almost anything and everything!

3 On-demand App Business Ideas

Similar to traditional businesses, the market for on-demand mobile app businesses is still unsaturated to an extent. Even with an app like Uber, hundreds of other successful ride-booking app businesses are up and running worldwide. Thus, it is more of an open market where passionate entrepreneurs can invest in their respective industries, capitalize on endless opportunities, and build a scalable, sustainable business online.

Here is our list of the top three on-demand app business ideas to invest in 2023.

EHealth App

Although the pandemic has been over for a couple of years, eHealth or telehealth apps remain the most profitable app business to invest in, even in 2023.

Since the outbreak, thousands of ehealth apps have been added to the application stores. Where most failed to break even the development cost, some apps like My Sugr and Fitbit made it into the headlines, bringing in millions of dollars in monthly revenues.

We as a society have become more health conscious since the virus outbreak. A survey shows that almost every adult in the US has at least one healthcare or fitness-related app on their smartphone and spends around 8 – 12 minutes daily on the app. Thus, it’s the perfect time to invest in eHealth mobile app development.

If you are associated with the healthcare industry and are passionate about entrepreneurship and problem-solving, this could be a career-defining step for you. Partner with a healthcare app development company and put your app idea on the market.

Fintech App

After fitness and eHealth, fintech is the next big thing to watch closely. The year 2022 was the dawn of modern fintech startups, with nearly a hundred fintech companies succeeding in billion-dollar valuations.

From managing day-to-day transactions to budgeting and investing in crypto and stocks, fintech apps enable users to take control of their finances and wealth management. Top fintech apps like Money Lion, Chime, etc., have millions of downloads and daily active users (both paid and free) in hundreds of countries worldwide. Thus, fintech app development also has the potential to make you an overnight success.

However, fintech is among the most complicated industries right now, as digital scams and transactions are increasing drastically. And if this still fascinates you to invest in fintech app development, make sure you hire a reputable mobile app development company in Chicago, NYC, or any other major tech-friendly city to implement top-notch development practices.

Food Delivery App

Food and grocery apps are the third and most profitable on our list. The paradigm shift in consumer behavior since the pandemic has severely impacted the restaurant industry. Today, people only visit restaurants for a date or special occasion. The rest prefer ordering food online at home or the office.

Ordering food online has become a mainstream practice, not only in developed countries but also in underdeveloped countries. Hundreds of on-demand food delivery app businesses like DoorDash, Uber Eats, Insta Cart, etc., complete over a million orders globally every day.

Not only restaurants but home chefs, delivery riders, and app owners are involved in this giant ecosystem of online food delivery businesses. Simply put, building a successful food delivery app business has great potential but requires equal effort and dedication.

If you love taking on challenges and have the expertise in managing large-scale operations, this should be your go-to choice.

How to Start an On-demand App Business

Starting an on-demand app business and scaling it with sustainability over time can be tough, especially for people with a non-technical background. However, you can follow this tried and tested method to invest in your app idea to get better results.

Find Your Niche

Figure out what you really are passionate about. If none of the abovementioned app ideas entice you, find something else. Don’t invest in something you don’t care about just because it is popular. Find your niche, explore the leading businesses in that domain, and study them in detail to implement their success recipe in your app.

Plan Monetization

Figure out how your app will make money and build at least two monetization strategies around your business model. Make sure you plan monetization ahead of the development, as this phase often gets overlooked. Even some of the most innovative businesses have faced shut downs due to improper monetization strategies.

Hire an App Development Company

The last step is to partner with an app development company that sees the potential in your idea as closely as you do. Make sure you don’t fall for lucrative discounts from unreliable app development companies, and hire someone credible with a stellar online reputation and diverse portfolio in app development.

Wrapping Up…

It doesn’t matter how potentially sound your on-demand app business idea is. Sometimes, flaws in the execution of a remarkable idea can lead to disasters. If you don’t follow the roadmap or look for shortcuts, your chances of building a scalable and sustainable on-demand app business will get impacted drastically.

Make sure you hire the right development team and invest your time in research and analysis before going all-in for the development and deployment stages.