Childcare has become a major concern for full-time working parents. Parents require private babysitters to provide special care for their children. Childcare centers in the locality are failing to provide the same. To solve this, modern technology has come up with the Uber for babysitters app. Parents can request babysitters instantly through the app. By simply connecting the service providers with the parents, heaps of revenue can be generated. Why is investing in this business beneficial to the business owner? How is revenue generated through these babysitting apps?
Let us take a look at how these babysitters apps can be an ideal choice for potential investments.
The market for on-demand babysitter apps:
An average family spends $12,680 annually for childcare expenses during the child’s first year.
The childcare industry generated a revenue of $48.8 billion in 2018.
Parents annually spend $11,666 on child care centers. This has pushed users towards the online market.
The global children management software market is expected to experience a CAGR of 8.8% between 2019 and 2026.
It is to be noted that the market was valued at $155 million in 2018.
All these stats signify that the childcare market will continue to rise for years to come. Now, let us take a look at how revenue is generated from the app.
Ways of Revenue generation through the app:
An on-demand babysitter app development can lead to revenue generation in several ways. They are,
Commissions in payments: Business owners act as a bridge between parents and babysitters. By connecting the service providers with the parents, the business owner is entitled to receive a part of the babysitter’s payment as commission. The commission can be set in accordance with the business owners’ will. This way, there is a constant source of revenue flowing through the app.
In-app advertising: Another popular way to earn revenue in the app is through in-app advertising. Collaborating with different agencies regarding advertisements can add to the revenue generation. It must be ensured that advertisements do not obstruct the workflow of the app. Constant advertisements irritate users, and they’ll start looking for better options.
Premium Subscription: This way of revenue generation is common in on-demand apps nowadays. Users can avail of a premium subscription by paying a subscription fee. The premium version of the app can include features like ad-free usage, top-rated babysitters booking, etc.
Invite and Earn: Almost 48% of parents’ need suggestions from their neighbors regarding the childcare facility. This can be your advantage. By providing this feature, you pay a little amount to the suggested user, and in turn, increases your revenue because you have a new user. It isn’t just a saying, ‘A satisfied customer is worth 100 advertisements.’
To conclude,
Parents care for their children and can pay in hefty amounts if their children are taken care of. This is the trump card to sustain in this childcare market. A Nannies on-demand app can satisfy the parents, provide jobs to babysitters, and can gain you increased profit returns. Proper planning and utilization of resources can be a vital advantage one can have in thriving this market. So, approach an app development company, get your app done, and enter this potentially growing business venture.
