The food delivery industry is a profitable one. After all, food is the reason we all work hard on a daily basis. The online food ordering and delivery industry is expected to keep growing at a good pace. It is a thriving territory for aspiring entrepreneurs to step into.
Though the territory is full of potential, it is not an unexplored one. There are several food delivery services, and in order to stand out and yield high revenue, there are certain revenue models that could be incorporated into the business.
What is a revenue model?
Revenue models are ways or strategies implemented to generate more revenue or income. These are ideas or models that are different from the usual ways of generating revenue. In terms of food ordering and delivery businesses, it can include various strategies like creating subscription plans for restaurants, priority placement packages, platform and enlistment fees, marketing and promotions, etc.
- Creating subscription or membership plans for restaurants
To generate extra revenue, a food delivery service can incorporate membership or subscription plans for restaurants so that customers can order food at lower prices and may enjoy other benefits such as free food delivery, faster delivery, or delivery on a priority basis.
- Priority placement packages
This package enables restaurants to rank on a priority basis. This increases their visibility, which helps them attract more customers and generate more revenue. The food ordering and delivery software also benefits from the regular fees paid by restaurants for the package.
- Platform fees and enlistment fees
Another way food delivery service software generates more revenue is by levying platform fees for customers or restaurants.
- Delivery charges
Including delivery fees is also a good idea. In fact, most food ordering platforms charge delivery fees. It could be a fixed amount or according to the distance. To make it enticing for customers, free delivery can also be offered above a certain order value.
- Marketing and promotions
Some food delivery software also charges for featuring restaurants or promoting them on the app. This sits well with the restaurant owners as well, as it increases their chances of earning a high amount of revenue.
- Loyalty programs
Creating a loyalty program and enabling users to earn profits each time they order can add an exciting factor to online food ordering. It will motivate users to order from the same platform over and over again because they will be using up the coins they have earned on their next order for a discount.
Partner with HathMe and increase your revenue by taking your restaurant online.
HathMe, as a B2M quick commerce platform, is working for a greater cause by giving them a wonderful opportunity to join the platform as merchants and go digital. There are many things that need to be taken care of while handling an online food ordering and delivery business. It includes a long and tedious process of planning and crafting strategies, finding out consumers’ behaviour and luring them with appropriate marketing, managing logistics, inventory, and the delivery fleet.
This can incur huge expenses for restaurant owners when they first take their food business online independently. Therefore, partnering with a food delivery platform with much lower risks might be a better choice. HathMe is one such platform, although it is way more than just a safe platform. There are multiple perks for restaurant owners on the platform, such as minimal commission rates, zero registration charges, free delivery, early payment releases, and a dedicated delivery fleet.
Many other platforms charge high commission rates and take longer to release payments, which makes businesses or restaurant owners hesitant to join them. HathMe comes to the rescue in this case.
HathMe attracts customers because of its great benefits, and this gives merchants a huge customer base, providing them with opportunities to grow their revenue.
Customers benefit greatly from the plethora of services and advantages offered to businesses because the platform allows businesses to perform to their full potential and provide quality products and services to their customers.
HathMe provides an excellent opportunity for businesses to market their services and create a brand for themselves. The platform may be the only one that requires so little investment yet has so many great benefits for merchants. They get to reach their full potential and earn a good amount of profit.
The greatest thing about HathMe is that it is very inclusive and invites participation from even the smallest of businesses. This proves that HathMe is for everyone, and it believes in the healthy growth of businesses. HathMe believes upwards and onwards is the only way. It takes care of customers, businesses, and people who are looking for employment opportunities as delivery agents.
Download the HathMe food delivery app, HathMe Merchant, and HathMe Delivery Agent app from the Google Play Store.
