With the enhancement in technology, the work pattern has significantly changed. No longer, the 9-5 job is the only income source. Many people are working on online platforms and making money. The generation is lucky enough to have a ton of opportunities with them.
With the freelance marketplaces such as Upwork, Fiverr, and more, the job market has completely revolutionized. The spread of the COVID-19 had a huge impact and a widespread shutdown of the economy. It forced employees to look out for online opportunities, and the trend of these apps increased even more.
There are around 57.3 million freelancers in the US alone, which makes it 36% of the country’s workforce. The fact clearly states that these apps continue to offer a great opportunity in the long run.
If you are considering developing a freelance marketplace, keep reading. The article helps you explore all the essential features and costs of app development from scratch.
What is Upwork, and how does it work?
Upwork is an online platform that has qualified freelancers and experts where they can find work for themselves.
It is a platform where people can both find work and offer it. The payment is done from anywhere in the world. It allows people to check other person profiles and review the quality of work they have done in the past based on reviews.
Platforms such as Freelancer, Upwork, and Guru are popular digital platforms as they provide a wide range of services for users.
- Here, the professional freelancers will register themselves and complete their profiles. After the profile completion, it is verified by the Upwork team.
- Once the team verifies the profile, you can start bidding for the projects. You can also post a job and conversate with people you want.
- People can pick freelancers for their work and task for they offer money.
- You can find your suitable job and begin the conversation with the client.
- Payment work in two modes on Upwork. Either they can get a one-time project with a fixed rate or work on the timer offered by Upwork. It charges you as per the rate offered.
How do these apps make money?
Making money at the end is most critical. And the platform can make money via the commissions offered by clients and freelancers. Additionally, many other methods allow the app owner to earn. Here they are:
1. Pricing for the Client on Upwork
For every project delivered, an amount is paid to the Upwork by the client. Whereas for small projects, you pay a service fee.
2. Pricing for the Freelancer on Upwork
For every project completed by a freelancer, there is a fee deducted that directly goes to the Upwork platform.
3. Suggest Freemium
With this model, you can recommend basic website functionality for free of cost to the users. And for the additional features, you can grant access.
4. Selling Gigs
One of the popular platforms like Fiverr offers its users to buy a defined volume of services. Buyers can combine these services and pay for packages as per their needs.
5. Promoting Profiles
For more visibility, the freelancers usually want to appear on the top of the result pages. Therefore, these users pay and promote their profiles to stay at the top.
Types of Freelancer Marketplace
As the marketplace trend for freelancing continues to grow, the platforms tend to increase day by day. Here are some most common types of freelancer marketplaces:
1. Local Freelancer Marketplace
Local, as the name says, work is a specific region.
So if the client is expecting the work done in a specific region, Local Freelancer Marketplace is the best solution. One such example is TikkTalk, which is a freelancer marketplace where you can find interpreters.
2. Global Freelancer Marketplace
If the location is not an issue, the global freelancer marketplace is the perfect solution for you. It allows the users to discover and showcase their creative work globally. One of the well-known examples includes Behance.
3. General Freelancer Marketplace
If the concept of your project implies areas of knowledge, and you want to hire a specialist of any kind, this is the right platform for you. Freelancer is a bright name that connects and unites a wide range of specialists.
4. Marketplace For Short-Term Process
If you want help with a single job and affordable pricing, a marketplace for the short-term process is crucial.
5. Marketplace For Long-Term Process
Upwork is an example of such a platform. It specializes in long-term projects that have a higher budget.
Top features your Upwork alternative must-have
To build a competitive platform like Upwork, know the specifications you want to add to your freelancer business. And for the same, you must be aware of the features you should integrate. Here are the unique features that you must add to differentiate from the competitors:
1. User profile and registration
Registration is the first step when it comes to developing a freelancer platform.
Usually, two types of users register on the platform, a freelancer and the customer. They should add their photo, skills, bio, completed projects, and other information to their profiles.
Portfolio, skillset, search bar, and verification is another set of information you can add to your profile.
2. Advanced Search
The user should be able to perform an advanced search using the filters such as domain, specific skill set, experience, hourly rates, dates, and more.
3. Job Listing
The users or clients should be able to post about their projects and list them on the platform.
So that the freelancers can check out the projects and know the specific skills the client is looking for.
4. Mechanism for bidding
Freelancers bid for the project that is available on the platform. They submit their bid and quotes for the projects on the app.
The client picks the freelancer based on the bid to complete the assigned task by checking their profiles.
With the in-app chat platform, the client can talk to their assigned freelancer and discuss all the details regarding the project. It is one of the most crucial communication tools.
6. Project Management tools
It is another solution that offers transparency of the work done by the freelancer. The addition of a time logging feature helps to conveniently track the time worked on.
Payment integration is the most crucial step here for any website or application. All the transactions between the freelancer and user are kept secure with the integrated payment gateway.
8. Reviews and Ratings
Here, the clients can check for the quality of work the freelancers do, based on the reviews and ratings given by other users. It helps them decide whether to hire a freelancer or not.
Cost to build a platform like Upwork
The cost of developing a platform like Upwork depends on many factors such as platform, complexity, functionalities, hours of development, etc. Below, listed are the factors that affect the cost of app development:
1. Average Developer Rate
A developer may charge differently based on the expected duration of your job. Rest it depends on the geographical area and hourly rates.
2. Domain & Hosting
The web address is the project’s face, and therefore it is recommended to choose the one relevant to the site directly.
3. Technologies Used
Websites operate on software, and the users do not see it. It can be an HTML or PHP file.
The addition of components like payment gateways, a cloud service for storing files, a rating system, integration with social networks, and others affect the cost of the platform.
At OZVID, we have an experienced team of developers who will make it work together and deliver you success.
Developing an app like Upwork is a grand achievement in today’s time. It can be a highly profitable business for the app owner. Proper research and planning streamline the process. So, whatever you may do, keep the picture clear from the very beginning. If you are still not convinced, you can reach out to OZVID and discuss your requirements with us.
Let's Start A Freelancing Marketplace Project Together! Talk to us.