How to create Best Peer to Peer (P2P) Marketplace Platform
Dreaming to build a Peer to Peer Marketplace Platform? In this guide, we will show you different peer-to-peer marketplace, how much it cost, revenue models, and how you can set up your own platform as well.
What is Peer to Peer Marketplace?
Peer to Peer (P2P) Marketplace is a many(producer) to many(consumer) connection-based marketplace. In laymen terms,
- Hosts can post their property for many users to rent
- Campaign creators can post many campaigns to get funding from many users
- Sellers can post many products for many buyers to purchase.
A traditional B2C platform is one 2 Many.
Example of Peer to Peer Marketplace in different industry
- Education ( Udemy, Coursera) – Udemy allows many tutors to post their course for many learns to consume
- Retail Fashion(Depop, letgo, wallapop) – Depop allows many sellers to post their items for many buyers to buy.
- Property (Airbnb, Homestay, Hostel.com)
- Healthcare ( Evryman, Limbr, Kinde, oros)
- Freelancing (Fiverr, Upwork)
- Funding (Kickstarter, gofundme) – Many Peer campaigns creators can launch their campaigns for many peers to fund, lend, donate, etc
P2P Marketplace Verticals
- Product Marketplace (Peer to peer buying and selling physical products and software products)
- Service Marketplace (on demand, rental, etc) (Peer service providers posting their service for peers to use on demand or on proposal/approval)
- Peer to Peer funding (donation, reward, equity, lending) ( A disruptive democratisation of getting funding or help without relying on single institution or single player)
How much does it cost to build a Peer-to-Peer Marketplace?
It depends on which route you take. If you want a full package of the web, android, iPhone, and any other custom plan, it can cost around a minimum of USD40K to USD150K for a quality system. Or if you go for Best SaaS/PaaS service, the cost will be between $49/mo to $5000 for a small MVP to Enterprise.
Read more here on why it’s better to use a plug and play SaaS/PaaS platform
Revenue in Models in P2P Platforms
Find the different ways you can make money here and choose your model. These revenue models come out of the box in TradlyPlatform, so you don’t need to build from scratch!
- Commission fee on transactions
- Fixed fee on transactions
- Subscription charges for account opening
- Subscription charges for listings
- Premium charges for special services
Features in a P2P Marketplace
- Anybody can open an account (Self onboarding)
- Anybody can buy
- Any can post (list)
- Social Features like Follow, Like, comments, etc
- In-built chat system to improve the engagement
- Real time notification system to get updates from their sellers, buyers, Marketplace Owners
- Managed marketplaces having approval process for accounts or listings
- Marketplace Owner can configure the onboarding and listing process
- Automated Payouts through Escrow accounts
- Cross border payments optionally
- Split Payments with deduction of commission, etc
- Subscription logic for subscription based business model
And many other features based on your solution.
How do I build my own white label P2P marketplace?
Using solutions like TradlyPlatform, the steps you do to launch your peer-to-peer platform are simple where you need to do the configuration from a layman perspective. The SuperAdmin is easy and straightforward where you toggle what you need and what you don’t need. We will not push you to reinvent the wheel by pushing you to research the best logic or best practice. We did that job for you.
when you signup for a solution from TradlyPlatform, the steps you will do would be
How do you setup in Tradly SuperAdmin Panel?
Here we have done step-by-step visual information on how you can build a p2p marketplace with TradlyPlatform.