Are you a startup or thinking of having one that has an Online Marketplace Business Model? From my past learnings, You need to be careful of certain things in order for it to become successful
If you are building an Online Marketplace Business, you have to be very sure that there is Demand as well as Supply, both tied in such a way that it enhances the experience of everyone.
With the Help of your Marketplace, there should be an organic growth increase both at Demand and Supply End.
There are many failure stories of Online Marketplaces Business
Airbnb, Uber, OpenTable, Swiggy, these all are Online Marketplaces and they only have become successful because they were able to create both Demand and Supply and The new experience which they provided was phenomenally better than before
People still used to call restaurants to bring Food deliveries at home but the experience of Both Restaurant and Customers was far better on Swiggy / Zomato and that’s why they succeeded.
Please Remember: Your Marketplace should improve the experience both at Demand and Supply End.