If you’re reading this article, then you must be curious about the average cost of creating a marketplace website and mobile app.
Sorry to disappoint you but there is no simple answer to this question. It is all very subjective and depends entirely on you.
Are you planning on creating a B2B service marketplace or a Peer-to-Peer platform? Which of the service marketplace business models are you going to appropriate? Do you possess substantial/moderate technical skills or none whatsoever?
There are so many questions to ask and so many things to delve into.
So, let’s get started and have a look at some insights into the costs of building a successful online marketplace in 2023.
Details to consider before venturing into the marketplace world
The cost to develop a marketplace app like Upwork and Amazon depends on many factors that we need to clarify before moving to the actual numbers.
Is your business going to be based in the USA, Europe, or other parts of the globe?
Depending on where your service marketplace business operates, the prices may vary.
The USA is the most expensive option, so we’ll take that one as an example. It’s always better to expect more and pay less.
Now, according to your budget, there are three options for marketplace app development.
First, you’ve stashed enough money and you’re ready to spend it on a customized, good-quality marketplace, thus, you turn to a web design agency. It’ll be pricey but you’ll have full control over every step of the process.
Second, you have a somewhat limited budget but you still want to hire a team, hence, you get in touch with freelancer/s.
Third, you are low on money and you don’t want to wait, but you have a solid idea that you’d like to put into practice right away. In that case, an all-in-one marketplace builder could be what you’re looking for.
No matter your case, it’s crucial to remember that first and foremost, the cost of developing a service marketplace will depend on your website’s complexity.
The more features you’d require, the more time the devs would have to spend on your marketplace, therefore, the more expensive it’d be.
What’s the average cost of creating a service marketplace in 2023?
As we mentioned above, marketplace development costs may vary depending on different factors. Let’s have a look at some developer rates.
The front-end development is the client-side part of the marketplace. The interface, all the buttons, and menus users operate with.
The back-end development is the server side of the platform. It’s invisible to the user but it’s responsible for accumulating, fetching, and providing essential data so that all features function well.
Front-end and back-end developers would charge as low as $50 but often rates go up to $150+ per hour.
Keep in mind that the back-end services are usually a tad more expensive. This would accumulate to approximately $8,000/month for each tech professional you hire.
Now, your website design consists typically of your marketplace’s domain name, SSL certificate, website hosting, style or theme, responsive design, interactive multimedia, content management system, e-commerce functionality, database integration, pages, and so on.
Contabi used 3veta’s service marketplace builder to launch an accounting and bookkeeping consulting platform.
According to WebFX, if an agency is taking care of it all, the average price for an e-commerce website could go as high as $55,000. And you’d have to pay for maintenance as well, which could be between $15,000 and $30,000 on average.
You could also pay per feature. The Cleveroad team has compiled a price list of all basic features based on the time each feature would require to be built.
The list includes features such as: sign up and in, help screen, user profile, homepage, shopping cart, listings, product details, payments, seller subscription, and admin panel. The estimated total is $41,200.
However, their take on how much it costs to develop a marketplace app is based on the $50 hourly rate and excludes some vital service marketplace features like scheduling and video conferencing.
Not to mention that you’d most certainly need a business analyst to inform you on how your marketplace is performing which could cost you $25 – $60 per hour according to Upwork.
💡 Pro tip
3veta offers a no-code marketplace solution that cuts development costs and allows you to launch your own platform within days. Check out this interactive demo and see what your service platform would look like.
How long does it take to build a professional marketplace platform?
It’s not only the cost of creating an online marketplace or mobile app that should be discussed, the time it takes is also a crucial factor.
Relying on freelancers or web design agencies takes time since your online service marketplace website will be built from scratch.
In general, it’ll take months to get the final product.
We, at 3veta, believe that reducing time-to-market is crucial for every company.
Do you want to launch your service marketplace idea as soon as possible?
We can help! With 3veta you can get a fully functional marketplace platform in 3-5 business days for a fraction of the cost.
So, if you want to build and test your marketplace idea right away just get in touch with us. We’ll show you how our service marketplace solution can be applied to your unique use case.
How do I create a service marketplace platform?
The cost of creating an online marketplace or mobile app by using a no-code solution like 3veta is nothing in comparison with the above-mentioned numbers.
There aren’t so many zeros after the comma, to say the least.
We offer an extensive list of features that you can choose from depending on your needs and the price depends entirely on what you use.
Whether you’d like to invest in a tutoring marketplace app, an online coaching marketplace, or other types of services, we make sure to give you everything you need in 3 to 5 business days.
It’s an end-to-end solution that provides you with excellent video conferencing, scheduling, white-label features that complement your branding, and user analytics.
Also, you get to enjoy our full tech support including continuous backups and system updates.
So, if you’re on a tight budget, in a hurry, or you simply want to make the most optimal decision without making compromises with the quality, feel free to contact us.
To draw the line
Many professionals with great ideas but limited tech skills struggle with putting what they have in mind to practice.
However, building a marketplace is no longer an option only for those with unlimited budgets.
Using a no-code marketplace solution like 3veta will help you power a scalable marketplace at a very affordable price.
By taking care of the programming hassle, we ensure your effort and resources will go into other pressing matters.
Are you ready to start your online service marketplace? Let’s talk!