Freelancer, Upwork, Fiverr are some of the freelancing websites that have made their impact in the freelancing industry. These websites help businesses and freelancers connect with each other across the world. Companies can easily find potential freelancers to do their assigned tasks and freelancers too can find the right job for themselves. Finding this industry lucrative, there are many startups willing to start a freelancing website. Below is the beginner’s guide to build a freelance marketplace for the ones wanting to get into this business.

Market Research:
You already have the idea ready for implementation, so the first step in starting a freelancing website is market research. Conduct a research on the competitors by first identifying your competitors. The market leaders in this industry include Freelancer, Upwork, Fiverr, Behance, etc. Have a look at their business models and the features they provide on their websites to both their clients and job seekers.

Market research will help you understand your customers and make you familiar with the competition.

Website:
After taking the decision to enter the freelance industry, the biggest consideration is the kind of website you want to build. You need to have a website that has all the chances of success and can beat the competition. You are faced with two choices, first is getting a website built from scratch and second is getting a website clone.

Creating a freelance online platform is easier with the help of clone scripts, which has the business model of an existing established leader in the market. There are many ready-made scripts available online with the help of which startups can easily launch platforms like Freelancer or Upwork. MintTM offers ready-made Freelancer Clone script – PickGeeks for starting a website similar to that of Freelancer, along with providing customization facilities.

Revenue Models:
You need to decide on the revenue models to gain maximum profit out of this business.

Below listed are some of the revenue models which you can adapt for your freelancing business

  • Project Listings:
    On a freelance bidding site, you can monetize from the projects posted by the clients by making them pay for the listing. Clients can pay for taking a package, which will allow them to post a number of projects and even get add-ons.
  • Bidding Fees:
    Freelancing sites facilitate project bidding, allowing freelancers to bid for the projects they are interested in. Bidding packages can be given to freelancers to choose from, each having a specified number of available bids and other offerings.
  • Membership Fees:
    Membership fees can help you in earning through fees from clients or freelancers for becoming a member. However, you will have to face the challenges of persuading users to join and prove the benefits of your platform.
  • Featured Projects:
    In a website where new projects are posted everywhere, it becomes quite difficult for a project to stand out from the crowd. Featured projects help in getting noticed, drawing attention from the potential freelancers. They can help you earn some extra revenues, over and above the income from other models.
  • Commission Fees:
    The ultimate goal of a freelancing website is that clients get their projects done while freelancers can earn money by offering their skills to complete the project. To monetize from this exchange, commission fees can be charged on each project in the form of a percentage or some amount per transaction. By adopting this model, you will not be able to miss out any transaction done on your platform and will be able to earn high revenues.
  • Launch:
    When launching a freelance website, you need to create a hype around your business. Building hype involves building your online presence by communicating your goals to the target audience that includes freelancers and clients.

    It’s crucial to reach out to people, and once they are familiar with you, you can start introducing the launch of your website to them. Guest blogging is an effective method of building buzz for your website. You can start contacting blogs to publish your articles early and identify forums you can post in. It’s better to contact multiple blogs that fit your niche as different blogs will accept different article types. You also need to make sure that they have a strong following that you can leverage. You can even promote your website on social networking platforms.

    You can design a coming soon page, using it to add to your hype. Ensure your launch date is clearly displayed. You can have a signup in place on the coming soon page to get the database of customers for sending newsletters in the future.

  • Freelancers and Clients:
    After launching your website you need to invite freelancers as well as clients to join. There are many online forums from which you can get a list of freelancers. Invite them to join your website. Give them the benefits your platform can offer and why they should join. Once you have built a good database of customers, you can attract clients easily

    Once you get clients on the board, they will start creating projects. You can use various techniques for freelancers to place bids and perform activities like awarding high performing users with awards and trophies and giving users various fields to improve their profiles.

Conclusion

By following the above steps, you will be able to successfully start a freelance marketplace and start making money. It will take some hustle to get your first few clients and freelancers on-board but if you build this business with the right strategy and planning, you will be able to run it effectively and earn maximum revenues!