Revenue Models, you can plan for your Restaurant Booking App | Table Reservation App
The restaurant booking app or table reservation app helps you manage the entire business with just a tap on your phone. Some leading names like OpenTable, Resy, Tock, EatApp are dominating the market with their USPs.
Considering it, developing a restaurant reservation system is not that tough, but planning the perfect revenue model is the toughest. Wondering how planning the revenue model in the restaurant booking app can be tougher? Because we are talking about the business that connects people to a platform to carve their hunger with few clicks.
YES! You heard that right. People can carve their hunger with just a tap on their smart devices. Considering this, planning the best revenue model in your table reservation app is more important than anything else.
Because the revenue model is the only base to make your restaurant booking app successful and grab potential customers; therefore the table reservation app can make it easier by analyzing the market and your competition.
Ibiixo will do an analysis based on the restaurants you are targeting in your restaurant booking app. Along with it, geographical location is also essential to decide the best model for your app. Of course, the latest culture/trends will matter as well.
Also, Check out How much does it cost to develop a restaurant reservation app?
In this piece, we will discuss which revenue models you can plan in your restaurant booking app or table reservation app.
Types of Revenue Models in restaurant booking app or table reservation app
Primarily all the restaurant booking app charges, commission on each table reservation or order book. However, the commission can vary depending on the market trend. You can charge fix amount of percentage on a bill as a commission.
For a situation, if you are charging 1% of commission on a bill, and a bill is $100, then the restaurant is supposed to pay you $1.
Here you can get the benefit only after a complete transaction takes place on the restaurant booking app. You will not charge anything else either from customers or restaurant owners. They can use the restaurant table reservation app for free.
It is beneficial to the restaurant owners, as they don’t pay until a complete transaction is done on the restaurant booking app. Therefore they get the security that they are not paying until they are not getting anything.
However, more established restaurants will not prefer this model as they might not prefer to pay you based on their earnings.
Fixed Cost Booking Fees Structure:
Secondly, in your table reservation app, you can charge a fixed cost per bill. So you are not concerned with the bill amount. You only charge a fixed amount of money on every transaction that takes place.
For a situation, you are charging $1 as a fixed amount per bill. Then the restaurant is supposed to pay you $1 per bill without considering the bill’s value.
Like a commission model, you get a fixed amount after a transaction on your table reservation app. You will not charge anything else either from customers or restaurant owners. They both can use the restaurant booking app for free.
Again it is beneficial for restaurant owners as they don’t pay until they earn from the table reservation app. Also, they are not sharing a part of their earning. Hence it can be preferable by most restaurant owners.
Thirdly, you can charge a fixed subscription fee from the restaurant owners monthly or yearly. Wherein they will have to pay you a specific value on per table booking or orders.
For a situation, you can charge $200 for 1000 bookings on your restaurant booking app per month. Or $5000 for 10000 bookings along with other facilities like floor management, staff management, etc.
Likewise, you play around with different sets of plans and charge from the restaurant booking app. You can plan your subscriptions based on the restaurants you target.
To Wrap up
Get in touch with the experts that can guide you to have the best revenue models in the restaurant booking app. Ibiixo’s team will not step back until they find suitable revenue models for your table reservation app.
Check our video to get into the details about which revenue models you should plan for your restaurant booking app.