Capturing global audiences is the constant exhortation for business owners. But the hyperlocal business model can be considered as you can highly focus on a particular region and get your brand familiarised. The hyperlocal business is the best choice as customers will be accustomed to buying things from local stores. So, any customers who prefer to purchase things from local stores will rely on your on-demand app to get them delivered.
This blog has been penned to bring you some knowledge about the hyperlocal services business model, the categories of business that are enclosed in this model, and the benefit you will gain with the launch of the hyperlocal on-demand app.
What is a hyperlocal business model?
Simply, the hyperlocal business model connects customers and service providers/sellers in the same geographical location. Generally, if you take e-commerce apps, you will order a product, which will be packed and dispatched from an entirely different location. But that is not the case in the hyperlocal business model. Customers are given the facility to purchase products from the local sellers.
Benefits the hyperlocal businesses vests for stakeholders
- Instant availability – “Delivery within 30 minutes” has become the standard slogan for every food and grocery delivery service. Likewise, hyperlocal means that the orders will be collected from local stores, and the customers will get their orders in a short duration. This in itself is the main advantage for customers.
- More brand awareness– Generally, people will have an affinity for local stores. Since the hyperlocal business model is an interface between local stores and customers, they will become more dependent on your app. Ultimately, you will get sheer brand awareness.
- No setup cost for sellers– Since you will build an app that will list the sellers’ products/services, they don’t have to worry about investing in an online store. Moreover, if they run a traditional way of business, they will get less reach. Whereas they will get more visibility through your app.
- Diversity of products/services– We all wish to swim through an ocean of products/services before choosing barely a few. The hyperlocal marketplace model will list many sellers, and so are the number of products/services available to the customers. So, getting a diverse range of products is another advantage for the customer.
How can you stir the marketplace of hyperlocal businesses?
Any business marketplace that showcases a high level of competition can be tackled with the help of advanced technologies and marketing visions. So, let us see how you can launch your hyperlocal business and cause a stir in the marketplace as well.
- Advanced delivery modes – Though delivery agents manage to deliver orders to customers within 30 minutes, the delivery segment needs more advancements. The usage of modern delivery modes like drone delivery and delivery through robots will cheer your customers as well as fasten the delivery process.
- Modern inventory management– As said before, with the proliferation of advanced technology, you can achieve sheer heights in the competitive marketplace like a hyperlocal business. In case you are about to choose the independent business model, you need to manage your inventory. An advanced inventory management tool will let you know the stock details and will also send alarm signals when the items go out of stock.
- Preference prediction– With tools built on Artificial Intelligence, you can predict the preferences of customers based on their past orders and take them forward. With such tools, you will get to know the most-ordered products so that you can increase the stocks accordingly.
Types of hyperlocal businesses that you can invest in
- Food and grocery delivery business
Food and grocery delivery businesses are the backbones of hyperlocal businesses. Obviously, customers will wish to get their orders delivered in a short time, and for that, they will order from nearby stores. Food and grocery delivery services are the two most crucial delivery services, and the growth they are procuring in the latest times is ample to consider investing in these businesses.
- Handyman services
Not everyone is aware of fixing a broken pipe or a fused bulb. And of course, not everyone has got some time to spare for repairing any broken appliances. So, the obvious choice is calling out for a handyman to look after the repairs. In the U.S market, handyman services are one of the most-used services by people, and the range of handyman services include plumbing, wall/floor repair, painting, electrical works, etc.,
- Home care services
In a typical family, the number of working professionals is in the majority. So, elders who stay at home need assistance in carrying out their routine activities. For that, home care professionals are available who will assist the elders. Through your hyperlocal on-demand app, anyone can book home care professionals in the same area they live.
- Real estate services
Buying a patch of land is still a dream for many. Real estate agencies connect people with landowners/sellers with buyers. The business activities of real estate agencies involve collecting a list of properties that are open for sale. Properties will range from commercial to residential ones.
You might very well know the hype for real estate businesses. Through your hyperlocal app, you can list such properties and help your customers in buying those properties.
- Travel and related services
The amount of excitement among the travelers will not see a dip. In fact, travelers are willing to explore more places worldwide. So, setting up a travel booking service will lure your customers. The reason why people approach travel booking agencies is that they will arrange everything right from food to accommodation to travel. Customers have plenty of options to select the accommodation they want through the app itself.
- Personal healthcare professionals
Indulging in fitness activities is necessary and many follow it without diversion. So, some prefer visiting the gym and healthcare centers for getting assistance while others prefer personal assistance, where the professionals will visit the customer’s place. For those, the on-demand hyperlocal app is the best for booking professionals.
Summing up, the best app solution for enclosing all these hyperlocal business services is the Gojek clone app. It will also be a budget-friendly investment for you.