How does online business work

Should I go for an online business? That’s the question which many of us are confused about. One thing is clear that online business comes with a lot of advantages.

Consider this scenario of COVID 19 pandemic, wherein many traditional businesses are falling across the globe. The ones which are surviving in this pandemic are the online business. It shows why digitize has become a necessity in COVID 19. Digitization will help you in the present as well as in the future to let your business survive against any such situation. Thus, we can say that it is the right time to get your business to digitize.
In this article, we will cover the points which will let you know how does online business work and how to start an online business.

How Does Online Business Work With Various Industries?

  • Healthcare Industry

Healthcare application growth is inevitable in the market. Either it is a doctor assistant app or a medicine delivery application, there is an enormous growth of the online healthcare industry. The applications come with services like video calling consultation, health tracker, setting up an appointment with the doctor, online buying of medicine, and many more.

Basically, for the development of the online healthcare business, there will be a user app(for the patient), doctor app, and delivery app(if medicines are to be delivered). Wherein the patient can book the appointment and the doctors can respond to it.

If you’re planning for a medicine delivery app too, then patients order the medicine online and the delivery boy can deliver the order with the help of details present in the delivery app. Along with all this, there will be an admin panel through which you being the owner can track every detail going around your business. You can include the features as per your requirements.

  • Transport Industry

Converting your traditional transportation business online will help you to manage it seamlessly. We all are aware of the success of the on-demand taxi industry across the world. Not just converting your traditional business but even having a startup in this industry comes with a lot of fortune. Taxi, truck, logistics, or aviation, you can start with any of them.

If you’re planning to invest in the online transportation industry then for the development purpose you will require two applications (driver app & customer app) and one admin panel. The working of this application goes like customers will request a ride and nearby drivers will get a notification for the same. Here drivers have the option of accepting or rejecting the ride based on the customer. With the help of an admin panel, you can keep an eye on the activities of your business and even manage the things related to the customer and driver.

  • Entertainment Industry

The online entertainment industry is ruling the world. People are changing the way they consume entertainment these days. If you have a good hold for the entertainment industry then bringing it online is a must thing looking at the present scenario. Entrepreneurs in the entertainment industry need to look at the cracks and find better solutions to entertain the audience. Whether it is about online streaming of videos, music or even games moving online comes with huge benefits.

You might require a user app and admin panel for building an entertainment app. In the user app, there are different subscription packages available based on which the quality of streaming a video or music depends. Through the admin panel, you can check the analytics report to get the regular updates of your business. There can be changes in the number of apps you need to build based on your target audience and type of entertainment app you are planning for.

  • Food Industry

The online food industry is growing tremendously as people want everything at their doorsteps. Grocery delivery is becoming quite popular these days especially in COVID 19 effect. People are now afraid to go to the store and buy their daily essentials. They prefer to order online and get things at their doorsteps.

For the food industry, two types of solutions are available for you. First is the marketplace solution wherein the various vendors can register on your platform and can list their products. When the customer orders the products, the delivery boy will get the notification. Later the delivery boy will go to the vendor to pick up the order and deliver it to the customer.

For the second one, if you have a traditional store then build an app for the users to order products and delivery apps to deliver the products. With the help of the admin panel, you can track and manage the activities of your online store.

  • Education Industry

Day by day students are getting more comfortable with online education as it gives them the comfort of learning anywhere and anytime. The online education industry has brought a revolution in the way students educate. Flexible schedules and the environment with online learning have brought immense productivity to the students.

Henceforth, if you’re having an institute or planning for the startup in the education industry then it is the right time to go with it. The countries which are on the way to online education are the United States, South Korea, India, Malaysia, China, and many more.

For the education industry, you can have two solutions. The one is a marketplace solution wherein the teachers can register and upload their lectures. Students can choose a teacher based on their reviews and experience. If you’re having a school/institute and planning to digitize it, you will require a student panel(scheduling of tasks), teacher panel(adding tasks for students), and admin panel to manage all the activities.

  • Travel Industry

People always want a hassle-free trip experience when traveling. And that is the reason almost everyone prefers online booking for hotels, tickets and more. You can build a platform like Airbnb or HomeAway if planning for a startup in the travel industry.

Build a marketplace platform and let the hotel owners register on your platform. On every booking, you can charge a commission fee to the hotel owners and service fees to the travelers for using your platform. For marketplace solutions, you will require to build three panels that are customer, hoteliers, and admin panel.

If you’ve your own hotel or travel agency then you need to build a customer panel(to let users book their needs) and an agency/admin panel to manage the online booking business.

  • Finance Industry

The finance sector is one of the biggest beneficiaries of online business. The high-tech innovations took place from ATMs to online banking to going cashless. In a way, the online finance industry made it easy for people to do their financial activities. People are more comfortable with the online finance sector rather than traditional things. Today, whether it is an investment or making a payment is carried out through the mobile screen.

The finance industry comes with vast solutions for the online business. One of these solutions is to build a payment wallet wherein via the customer panel, users can do the cashless transactions and through the merchant panel transaction is received on the other side. Apart from these two panels, there is an admin panel to manage and track the activities.

The other solution over here is building a trading application which will have a customer panel and admin panel. If planning for a startup in the online finance industry, then you need to hire the best software development company that can build a secured database for your platform.

  • Retail Industry

In this digital era, online shopping for any products has become a priority choice for most people. Online retail platforms are capable of servicing the customers in a better way than a retail store can do. In order, to keep up with the trends and let your retail business run seamlessly you need to build an online platform. Build an eCommerce website/app or both and list out your products on the platform. Start selling online and earn huge revenue by reaching a larger audience.

For the retail industry, you can either build a marketplace solution or your individual store app. To build an online marketplace you require four panels i.e customer panel, vendor panel, delivery panel, and admin panel. Vendors will register to your platform and list out their products with appropriate details. Further, customers can place their order and the delivery boy will deliver the product at the customer’s doorstep. You can take a flat commission fee from the vendors on every order placed.

For developing an online store for your traditional shop, you will require a customer app through which they can place the order and an admin panel wherein you can check every sort of detail about your online store.

  • Mining Industry

Digitization in the mining industry can bring innovations in their key aspects. Many technologies are affordable to become operational in the online mining industry. The mining industry is most popular in the UAE, Afghanistan. This industry highly differs in comparison to all other industries. It is highly variable with the uncertainty of the resource being mined from nature. You can integrate technology into the mining process to get better results. Digitization will help you to manage your mining business in an efficient way.

For the online mining industry, the application is built on your needs. Here, from business to business it will differ. For instance, for one of our clients, we build an online mining solution that contains a worker app for the attendance of the workers. It is taken through a smart helmet that is based on the IoT solution. It even contains a manager app through which managers can update the daily report of the worker and its working. Lastly, it contains an admin panel through which the owner tracks the activities of their mining business. This is one of the ways which shows the working of the online mining industry.

  • Automobile Industry

Online selling of automobiles or their spare parts is becoming more popular these days. But launching an online automobile business requires huge money and time. Henceforth, if you have enough resources for the investment then it is a good option to go with the digitization of the automobile business. Another thing you can do here to reach a larger audience is creating an informative website/application covering the details of your automobile and its spare parts. If you’re planning to develop an online selling platform for automobiles, you will require a customer app and admin panel to manage the business.

How to Integrate Online Business In Traditional Business?

Integrating online business is quite seamless when you hire the best software development company. Make a list of the types of business ideas and make a deep research on it. Look for the business type or industry which suits you best and go for building an online platform for the same. Hire the best software development company by going to their reviews and past client experience.

On the basic level, below-given steps will be enough to build your online business.

  • Choose an industry for your online business
  • Select a business model for the same
  • Build an online platform
  • Do marketing of your online platform
  • Convert your visitors to the client

The Final Words

So, that’s all about how does online business work with various industries. In the future, online business will be the only thing that will help your business to survive in this world. There are so many online business examples who observed an unexpected growth in this COVID 19 situation. The only reason for it is people fear to leave their home, henceforth prefer to use online services.

Need help in planning your online business? Our experts will help you with the best possible solutions for your online business. So, let’s connect for the development of your online business.