The buy and sell apps are going on-trend, as most people are thinking about the money in exchange for their assets not just want to let it go for free, which is why the IT industry has introduced the buy and sell mobile apps.
The real businessman can understand the mind of the people and make the money out from them, which is why the fieldwork is easy but now everything has come online and now the fields have converted into the websites and application.
The buy and sell applications have eased the process of buy and sell locally for both parties which is why it comes out as a good result. This has got the best way to connect a seller with the buyer in their locality. The e-commerce and buy-sell applications seem to be close to each other. So, you have to clear from day one, what you really need to focus on before the build-up of a marketplace application for your own. So, let’s discuss some of the aspects before starting up.
Table of Contents
Aspects to Consider Before Developing Buy and Sell Mobile Apps
1) Decide Upon Your Niche
Want to develop an application for local selling and buying? Or want to develop an advanced application that helps you with sell and buy across the cities and borders?
The first and main step is to decide which market you would like to focus on. You should also decide about the commodities you would like to deal with and one of the major is the quantity of category or you want to develop an application with a single category.
2) User Experience
The second major point is the user experience which is very important before starting anything. Their consideration, feedback, interest, and many other things that matter the most while setting up the things. When you are developing an app with two perspectives like buyer and seller, then there is a different type of effect and suggestion provided by them individually.
3) Fraud Protection
Protection from the fraud has become the major concern for the client because as an entrepreneur, you are investing to provide protection reinforcement to your customer.
To protect from the fraud, the buyers and sellers should be verified before the registration procedure while using the application.
These are the main and basic aspects every investor should consider while developing your buy and sell app.
Cost to Build a Buy and Sell App Like Letgo?
There are thousands of the application in the market providing services or connection between seller and buyers but the LetGo is so renowned among them because of its smooth functionality. The online platform has given everyone an opportunity to take their business to the next level. According to DMR statistics, there are 300k items that are posted on LetGo daily and half of them are purchased daily. The items cost 5M USD are flowing on a daily basis. Isn’t it impressive? The business of LetGo is quite impressive.
How LetGo App Go About its Business?
The best thing that LetGo has a laymen audience as buyers and sellers who are willing to invest in the second hand and everything over it. It helps to maintain a bridge between buyer and seller. This same work as craigslist but the major difference is that it is available in the form of application and the many statistics have shown that 70% of the users come via the application.
Business Model to Create a Buy and Sell Apps
Most of the users consider it as it is free, you just have to download the application and then normally sign it up and you are all set to use the application. There is no commission that required to charge from the third party. The entire process is free, but there is an option for campaigns and featured listing that required money.
All the popular applications required the monetization method which I mentioned below.
Monetization Models
- Delivery Charges– To generate future revenue, the company appoints a person so he can pick the item and deliver it to the respective place.
- Online Transactions– The payment of the item can be added to the application by the buyer or the application developer can integrate the third party payment gateways. It is easy for the buyer and seller both and they can continue with the application.
- Advertisements– There’s a section named “System Recommendations” in that the seller can add some extra information and present it as a featured ad.
MVP Features Associated with the Local
Mobile applications using MVP version features gives you the experience of the local market app and it includes some features:
- Social Network Registration- There are many popular local market application that has an inbuilt social network registration. This needs identity proof not just sign in and increase the number of users for the application.
- Search Engine Friendly App- As we all know that search engines are the main asset of the application. The role of the search engine is vital as the number of the users is coming at the application and the ads are also increasing then t must have to be in a systematic way for the smooth run of the application.
- Filters and Sorting Features– With the help of these features the consumer can find its desired product easily.
- In-App Payment– Allows the consumer to pay their purchase.
To develop an application just like LetGo then you have to implement the same functionality integrated into it. A local marketplace application can cost you to $10K to $25K but an advanced application will cost to $40K.
And Likely the cost estimation of the application like LetGo will be in India- $12 to $75 per hour, in the USA- $50 to $250, and in Eastern Europe- $25 to $140.
If we Consider the Cost of Buy and Sell Apps
- UI/UX design (60 Hours – $1500 to $2000)
- Front-end and Back-end development (400 Hours – $9900 to $ 20,000)
- Technical documentation (40 hours – $1100 to $2000)
- Polishing and bug fixing (40 hours – $1100 to $2000)
We have explained to you about the different aspects and awareness of trends to consider while developing a buy and sell mobile apps. Now it’s time for you to let go of everything and focus on this trending topic and start planning to build up an application like this, might be there are a lot of challenges that will be waiting for you but the major thing is to overcome those and move ahead.
