Photo - A platform for comparing prices for services
31918

A platform for comparing prices for services

Ukraine, Kyiv city
Market: Internet and IT, Services
Stage of the project: Prototype or product is ready

Date of last change: 04.10.2018
Min investment
$  25.000
0
Total required
$ 50.000
Rating
equalizer 225 из 1000
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Idea

The platform allows you to search for a service provider in a structured directory using multi-level filters with displaying search results in terms of prices, by ratings, on the map.

Uniqueness in comparison with competitors is achieved due to the simplified process of search, addition, rapid coverage of all service categories and scaling in the regions of Ukraine, as well as other countries.

Current Status

The platform has been working since March 2016, written "from scratch" without using open CMS systems.

On the platform of more than 10,000 service providers, a catalog is filled, more than 5,000 types of services are introduced, an SEO-core has been developed, and several thousand SEO articles have been created.

The current monthly audience is 3000 organic users.

Monetization of the project was not included.

Market

According to the study "Freelancing in America", in 2015, about 53 million Americans were engaged in freelancing, this is about 34 percent of the total workforce. According to forecasts, the share of freelance workers in the US by 2020 will be 50% of the workforce, and the market volume of online staffing by 2020 will reach $ 47 billion. The same trends are observed in Ukraine. One of the leading groups in on-line advertising acquired a start-up in this segment.

Estimation of the market volume in Ukraine.

The number of unique users per month on olx.ua in the section "Business and Services" is 896 thousand, according to our estimates, the share of paying users from this audience is 5.8%, the average income from one paying user is 36.7 UAH. Potential annual revenue from this audience is 23 million UAH per year. Given that the monthly coverage of olx in Ukraine is 41%, the current market potential is measured at 55.8 million UAH per year. This figure includes only the income from the placement of paid ads and does not take into account the potential of the commission for the cost of providing services (Airbnb model), this amount can be many times greater.

The potential of other countries indicated in the roadmap at this stage was not assessed.

Problem or Opportunity

73% of the polled users believe that on-line technologies make their life much easier when looking for freelancing work or employees. On average, 49% of users find work or employees for 3 days, using on-line platforms, instead of 21 days when searching off-line.

Current tools do not allow to select quickly the qualitative executor, as a rule the information is in not structured kind or does not cover all necessary spheres, such as ecology or agriculture.

Solution (product or service)

The developed functional includes:
- A service catalog with a wide range of functions (user adding services, SEO elements, images);
- Module moderation (custom types of services, price lists, feedback);
- The system of price lists;
- Module of orders and moderation of disputes;
- Module for exchange of messages;
- SEO module;
- Countries, cities, multilingual;
- User profile, portfolio of works;
- API for connecting SMS, SMTP servers, payment system;
- Data parsing module;
- Feedback and feedback;
- Content management;
- Module for managing paid services;

When searching for a service, the user uses a directory or a search string. In the list that appears, it filters by various types of performer parameters, and compares prices and ratings of service providers, thanks to the standardized price list names. Communication with the performer is organized by means of correspondence, a call, a call-back or directly ordering a service at the push of a button.

Competitors

- Bulletin boards (olx.ua) - 50%
- Services for ordering services (kabanchik.ua) - 8%
- Job search sites - 2%
- Foreign freelance marketplaces - 40%

Advantages or differentiators

- Bulletin boards (olx.ua) - non-structured information, services are not typed, there is no history of relations, ratings, number of completed orders, there is no possibility to compare many other parameters of service providers.

- Services for ordering services (kabanchik.ua) - a complex process of validating the service provider, as the process occurs off-line with confirmation via a passport. For the applicant, a multi-stage process for ordering services, you need to select dozens of fields, open several windows until you press the "Order"

- Job search sites - Do not specialize in information about freelancers, information is not structured, people generally can not perform task freelancing because of working in a permanent place. There is no direct and fast contact between users.

- Foreign freelance marketplaces - not adapted to the local market, there is no regional division at the country level, multilanguage is not provided, there are no executors with off-line type of work, mainly focus on IT and creative work.

Worksel.com covers all these shortcomings.

Finance

In the three-year perspective, according to the business plan for the Ukrainian market, cumulative income will reach 47 million UAH, NPV - 19 million UAH. Number of users for the 3rd year:
- visits per month - 6.4 million
- active users - 2.1 million
- active performers - 0.3 million

A detailed financial calculation is indicated in the presentation attached to the project.

Business model

The target segment is C2C. Monetization is planned in 2 stages: (1) income from advertising services (raising, raising in the top, allocation, placement of additional services) (2) commission from the ordered services.

Since the developed system is a unique multi-functional platform for aggregating all types of services, it is easy to refocus and create a specialized aggregator of services. This will reduce the cost of "promotion" and the speed of bringing the platform to market.
Examples of such aggregators:
- medicine - doc.ua
- auto services - carbook.ua
- education - buki.com.ua

Money will be spent on

SEO optimization and content of the article, strengthening the project team, advertising campaign, creating a mobile version

Offer for investor

Sale of a part of business, discussion at a meeting

Risks

Slow work on improvements, writing SEO articles.

Incubation/Acceleration programs accomplishment

No

Won the competition and other awards

No
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Idea
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Finance
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