In today’s fast-paced world, online food delivery platforms have gained immense popularity, revolutionizing how people order food. In Australia, the online food delivery industry has been growing tremendously, and the revenue is expected to show an annual growth rate of 11.5% resulting in a market volume of US$15.78 billion by 2027.
Menulog, a renowned platform from Australia has successfully ventured on this trend, connecting millions of customers with a wide range of restaurants across the country. By providing customers convenience and a huge variety of cuisines, Menulog has become widely popular.
Considering the success of Menulog, we can say that the online food delivery industry offers numerous lucrative opportunities. If you are an entrepreneur interested in building your online food delivery marketplace similar to Menulog, this blog post will guide you through the process.
Before delving into the details, let’s explore the business model that has propelled Menulog to its current success.
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Business Model of Menulog
Menulog’s business model includes connecting customers with restaurants from different places on one single platform and here’s how it works –
- Customers can browse the menu, place orders, and make payments through the platform.
- Restaurants receive orders, prepare food, and deliver it to their customers.
- When the order is completed admin releases the restaurant’s share of revenue.
- Menulog also provides delivery logistics via its network of couriers.
- Additionally, Menulog offers services to businesses enabling them to offer their employees a Menulog allowance through which they can order food, beverages, and more.
| Founded in: | 2006 |
| Founders: | Leon Kamenev, Kevin Sherman, and Dan Katz |
| Headquarters: | Sydney, Australia |
| Revenue: | $231.5 million per year |
| Active users on the platform: | 3.1 million active users |
After learning about the business model, it is equally important to understand how a platform earns revenue. Therefore, let’s have a look at the revenue model of Menulog.
Revenue Model of Menulog
A profitable revenue model plays an important role in the sustainable growth of any business. Menulog has opted for a diverse monetization strategy that ensures consistent revenue growth and success.
Commission: Menulog cuts a commission from the restaurants which is a certain percentage of the total order value.
Advertisements: Menulog allows other businesses to advertise their services on its platform for a certain amount of money.
Delivery Charge: Menulog provides delivery services to customers and charges a fee for the delivery of food to their doorstep.
Increase Revenue with Right Monetization Strategy
Next, let’s explore the features offered by Menulog and how these features are providing an edge to Menulog in this competitive industry.
Advanced Features Offered by Menulog
Menulog stands out in the food delivery industry of Australia as it offers user-intuitive interfaces, advanced features, and many other unique offerings on its platform. Some of the advanced features offered by Menulog include.
For Customers
- User-friendly interfaces
- Easy registration/log-in
- Advanced search filters so that customers can easily search for food and place orders
- Offers, discounts, and coupons for customers
- Multipayment options such as credit card, PayPal, or cash payment (if restaurants have chosen this option)
- Efficient order tracking with estimated delivery time
For Restaurants
- Easy registration process
- Easily add/edit/delete menu items on the platform
- Effective order management features for managing multiple orders
- Delivery tracking which makes tracking the location of their orders easy for restaurants
- Restaurants can track their earnings in real-time
For Drivers
- Secure login and registration processes
- GPS tracking and route optimization
- Instant notifications and alerts related to delivery status, orders, and payments
- Manage high-volume orders with efficient delivery management
System Features
- Seamless management of multiple restaurants in one place
- Effortless user registration and profile management
- Simplified financial transactions and revenue tracking
- Robust commission management system
- Real-time data and analytics
Now that, you are well aware of the essential features offered by Menulog. Furthermore, let’s explore how you can build a similar platform with ease.
Launch Your Feature-Rich Food Delivery Marketplace
How to Build a Food Delivery Marketplace Like Menulog
There are majorly two ways to build and launch your food delivery marketplace. Let’s explore them.
Custom Development
Custom development includes building your platform from scratch with a team of designers and developers. The development process may take a few months to a few years to complete. More investment is required in custom development.
Ready-made Software
Ready-made software solutions are off-the-shelf software pre-built with all essential features. The software is much more cost-effective than custom development and allows you to launch your marketplace within a few days.
One such reliable software solution available in the market is Yo!Yumm. It has helped several entrepreneurs around the world in transforming their business ideas into profitable ventures.
Key benefits offered by Yo!Yumm includes
- No coding required
- Lifetime ownership
- No recurring fee
- Readymade iOS and Android apps
- Feature-rich admin panel
- 12+ pre-integrated APIs
- Highly Scalable
- Fully customizable
Additionally, it comes packed with all the essential features to smoothly run a marketplace and also provides free technical support for one year.
Final Thoughts
Considering the scenario we can anticipate launching a food delivery marketplace would be a highly profitable business at this time. With careful planning, the right knowledge, and advanced technology this can be done with ease. Opt for reliable technology and the right solution for your business requirements and earn profits just like Menulog.