Have you heard about Thumbtack before?

Thumbtack is an online platform that links customers with nearby service providers for their home requirements. It was launched in 2009 and currently has an estimated value of over $1 billion.

The app offers a user-friendly interface, quick services, and fantastic value propositions for all its stakeholders. Further, given their simplicity, applications like Thumbtack are loved by more than just consumers and service providers. The revenue-centric business model used by these applications has an impact on aspiring entrepreneurs as well.

So, if you are also willing to dominate the $1 billion online home service industry with your app concept, here is your solution. This blog will explain what it takes to build a successful marketplace software like Thumbtack and how it can be a great opportunity for you.

Why Should You Invest in Thumbtack-Like App Development?

The ideal moment to invest in creating an app similar to Thumbtack is in 2021. Customers expect everything delivered to their door in today’s digital environment, whether goods or services. Online service searching is significantly more practical, especially in major cities. Developing an app like Thumbtack offers several advantages in this day and age for both customers and company owners.

According to data, there has been a huge increase in demand for online home services over the past couple of decades. By the end of 2022, home-demand service revenues are anticipated to total $869.95 billion. If your on-demand home service software meets the demands of the consumers, you may argue that designing it will be pretty successful for you.

The following are other justifications for developing a Thumbtack-like app in 2021 and beyond:

• The market for on-demand apps is at its height
• Customers are becoming more digital
• User spending on online marketplaces is rising,
• An app like Thumbtack has much promise in the sector.

Now that you know the potential of owning an on-demand home services app, it is time to start developing a brand-new application like Thumbtack.

Read Also – Key Features To Consider In An On-Demand Home Services App Solution

Steps For Developing An App Like Thumbtack

Here are five steps that you can follow to conduct seamless Thumbtack-like app development.

Step 1 Working on the Idea and Verifying the Scope

You now have the concept of a marketplace for on-demand services similar to Thumbtack. But is it practical? Does it interest users to download and utilize it? And maybe more crucially, do consumers even require your app?

In-depth data analysis, user questionnaires, surveys, walkthroughs, and user personas assessment of your app concept will answer these issues. These will aid in determining whether your idea is in line with what the market currently requires.

Step 2 Conducting Competitor Analysis

You may gain insights into the most recent industry trends, technology, and business models by knowing where your rivals are in the market. Additionally, you gain much knowledge on your target audience’s habits and dynamic needs.

You may develop a sound plan to improve your own market position with the aid of all these factors taken together.

Step 3 Finalizing Business Model

You will need a reliable monetization scheme that keeps the cash coming in if you want to keep your marketplace app running. The three different business models are:

• transaction-based
• subscription-based, and
• lead-based

However, you are not required to do the same. You may choose a workable business model that supports your value proposition by researching your target customers and the extent of your enterprise.

Step 4 Hiring a Professional Development Team

Now that you have sorted your fundamentals, it is time to launch your marketplace app. But do not worry, for you are not required to begin taking programming classes! All you need to do is work with a Home Service App Development Company or a qualified developer with expertise in creating this app.

Make sure their services and comprehension of your needs are in accordance with what you anticipate. That would spare you from staying up late trying to figure out the perfect app’s features, functions, UI, and performance.

Step 5 Testing the App with MVP

You may determine how your target consumers will respond to your marketplace app by using a Minimum Viable Product (MVP). An MVP will contain all the functionality required while using a minimum amount of resources, including money. Your product concept will not only be validated, but with early consumer input, it will be improved. The outcome? Your finished software will run much more effectively.

How Much Does it Cost to Develop An App Like Thumbtack?

The price range for creating an app similar to Thumbtack is between $15,000 to $500,000. Because every company has a unique vision and set of objectives, implementing an app identical to Thumbtack will cost differently for every company. The total cost of developing an app depends on a number of variables.

Here are a few of those elements:

• The platform that will be used to construct the app;
• Special features and third-party integrations;
• Customization and personalization;
• The hourly rates of the development business;
• The app’s final testing

In addition to this, any unforeseen expenses may raise the overall cost of creating an app similar to Thumbtack. After discussing your primary project needs with the Home Services App Development Solutions you select, you may obtain the typical development cost.

Wrapping Up!

Creating an app similar to Thumbtack is actually a fantastic idea, especially given its enormous potential and the rising number of individuals who prefer to stay at home. However, while observing the industry’s top players, keep in mind that you should also analyze your users’ wants and the market’s obstacles.