Apart from standard online stores, there is another increasingly popular type of commercial web resources. Trading grounds similar in nature to eBay where vendors sell their authentic goods are pretty buzzy right now. Such type of an eCommerce resource is called Peer-to-Peer Marketplace. In the following feature, we will tell you how to build a peer-to-peer marketplace and define the pros and cons of existing approaches to peer-to-peer marketplace development

Main advantages of peer-to-peer marketplace

Peer-to-peer marketplace is a trading resource that is basically a big market where numerous online stores of different owners operate. It isn’t that difficult to create a service of such a type. Construction of such business will also have a bunch of advantages to it, like:

Fast promotion. You will only have to intensely promote your platform initially. After some time, its search engine ratings will become a responsibility of vendors. That’s how creating such services provides passive income for their owners.

You will only have to intensely promote your platform initially. After some time, its search engine ratings will become a responsibility of vendors. That’s how creating such services provides passive income for their owners. The widest target audience. Marketplaces of the peer-to-peer format aren’t usually limited by demographics. Delivery and payment are also aspects for which vendors will be responsible. This means an easy way towards an international level without huge financial expenses.

Marketplaces of the peer-to-peer format aren’t usually limited by demographics. Delivery and payment are also aspects for which vendors will be responsible. This means an easy way towards an international level without huge financial expenses. Simplicity and financial accessibility. In fact, peer-to-peer marketplace development is a much simpler task for a developer than the building of some new, unique eCommerce online store. Due to that, the development process would be cheaper as opposed to the standard type of digital store.

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3 ways to create a peer-to-peer marketplace

Now let’s try and figure out exactly how to build a peer-to-peer marketplace in practice.

Building from scratch

This method means that a peer-to-peer marketplace developer will have to create a solution using HTML, CSS, JavaScript, and PHP. Let’s consider the pros and cons of the development from scratch in more detail.

Pros

Unique interface. As much as templates can be customizable, they will still look similar in some way (at least if we’re talking about popular templates from Sharetribe, NearMe, etc.). In turn, the built from zero marketplace will be fully custom and unique, which will definitely be much valued by users.

As much as templates can be customizable, they will still look similar in some way (at least if we’re talking about popular templates from Sharetribe, NearMe, etc.). In turn, the built from zero marketplace will be fully custom and unique, which will definitely be much valued by users. Customizability . Coming from the previous point, solutions built without employing readymade platforms are very flexible in configuration and customization. They can be adapted to the most extraordinary owner demands.

. Coming from the previous point, solutions built without employing readymade platforms are very flexible in configuration and customization. They can be adapted to the most extraordinary owner demands. Scalability. Authentic resources are easily scalable if their development is taken expertly.

Cons

High price . Pricing for authentic projects is a thing to thoroughly consider. If you decide to employ developers from the USA, expect no less than $50 thousand services price tag.

. Pricing for authentic projects is a thing to thoroughly consider. If you decide to employ developers from the USA, expect no less than $50 thousand services price tag. Support difficulties. If you become unable to work with the initial team of developers for some reason, it would be pretty difficult to find new fitting experts to continue its support.

Solution based on the readymade platform

This approach implies the employment of services of such renowned platforms as Sharetribe, NearMe, Marketplacer, Mayocat, or Cocorico. Now, for pros and cons of this one.

Pros

Simple creation. It’s much simpler to create something within an existing framework. There would be no need to involve any programming languages and libraries whatsoever. Additionally, you get a mobile version of the site, SEO modules, and many other features from the get-go by default.

It’s much simpler to create something within an existing framework. There would be no need to involve any programming languages and libraries whatsoever. Additionally, you get a mobile version of the site, SEO modules, and many other features from the get-go by default. Accelerated release. Readymade platform-based solutions are created much faster, obviously. Some solutions may be released as fast as a few weeks after the development process initiation.

Readymade platform-based solutions are created much faster, obviously. Some solutions may be released as fast as a few weeks after the development process initiation. Versatility. Templates provided by the mentioned-above platforms are quite versatile. It won’t be difficult to reconfigure them anew as your business needs change.

Cons

Scalability issues. It isn’t that simple to scale such resources, however. Developers are usually obliged to organize migration from one platform to another in order to expand their capacities.

It isn’t that simple to scale such resources, however. Developers are usually obliged to organize migration from one platform to another in order to expand their capacities. Less flexibility. You’re unlikely to be able to fit your template solution to non-standard client’s needs.

SaaS-based construction

Involvement of the SaaS is the most painless, simplest way to build a p2p marketplace as opposed to previous ones. Let’s check out its pros and cons.

Pros

No need to employ developers. SaaS is utterly accessible. You don’t need to be a peer-to-peer marketplace developer or whatever to get a hang of them.

SaaS is utterly accessible. You don’t need to be a peer-to-peer marketplace developer or whatever to get a hang of them. Minimum support expenses. Here, a question ‘How much does it cost to create a project based on SaaS?’ might as well be irrelevant at all. You can effortlessly handle everything yourself!

Here, a question ‘How much does it cost to create a project based on SaaS?’ might as well be irrelevant at all. You can effortlessly handle everything yourself! Fast market introduction. The implementation of SaaS-based p2p marketplaces usually takes no more than a couple of weeks.

Cons

Absence of uniqueness. Well, obviously, you won’t get an authentic, unique marketplace with this approach.

Well, obviously, you won’t get an authentic, unique marketplace with this approach. Dependency on SaaS providers. To a certain extent, your solution would rely on the SaaS it is based on.

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Hope we managed to highlight all the crucial aspects and tell you how to develop a P2P marketplace in essence. As you can see, you can get constant income with such solutions pretty fast. Interested in the creation of a custom service? Contact us and we’ll expertly implement your project!