Demand for online meal ordering and delivery has increased steadily in recent years. This sector saw steady growth when people struck at their homes and were forced to follow social distancing rules. Online food delivery giants like Just Eat made it possible for restaurants to keep their businesses running and meet customers' changing needs. If you're thinking of developing a platform similar to a delivery giant, having insight into the Just Eat business model can help you know how delivery works and make money.
Online food ordering and a delivery fad among consumers all around the globe as they prefer comfort and want everything to be delivered to their place. In 2022 the global food delivery sector is estimated to reach around 130.2 billion U.S. dollars; this number is projected to increase by 223.7 billion U.S. dollars by the end of 2027. The market was forecasted to increase at 11% of CAGR over the period considered.
The food ordering and delivery businesses have a bright future as more customers these days prefer to have sizzling meals delivered to their doorsteps whenever they want to enjoy them. If you are seeking an opportunity to become a part of a growing industry, White Label Fox can help you with that. An impressive ready-to-use Just Eat clone can help you launch a successful venture online and manage activities efficiently.
What is Just Eat?
Just Eat is an online meal delivery marketplace that connects customers with restaurants. The food ordering and delivery platform provides its service in more than 24 countries and has collaborated with around 580,000 local restaurants. Just Eat Takeaway operates focusing on the local market; it enables customers to search for restaurants and order food through the website, iOS app, or Google app.
JustEat Foundation, Funding History, & Success Story to Have Insight into!
Operated by Netherlands-based Just Eat Takeaway.com, JustEat is an online meal ordering and delivery brand. In 2001, it was launched as a separate company in Kolding, Denmark, and headquartered in the U.K. The company acts as an intermediary between takeaway food outlets and customers.
Just Eat provides its service in more than seven counties and enables consumers to search for local restaurants, place orders, and make payments online. It also enables customers to choose between pick-up and delivery options. Have a quick look over the success time to know complete details of the food ordering and delivery company right below.
Just Eat takeaway doorbell giveaway caters to ticketless champion league fans. It was created in support of Just Eat Takeaways' sponsorship of the Uefa Champions League; the stunt was captured for posterity by Liverpool and YouTuber fan Callum Airey.
The Takeaway food market globally is expected to witness massive growth by 2029; delivery giants, including JustEat, will have significant revenue and sales. Moreover, Just Eat Takeaways value a great portion; more than 33% is made by a stake in iFood.
The value can be realized by JET management since Prosus owns 66% of iFood. Just Eat Takeaway.com N.V.'s enterprise value is for a great portion made up of a 33% stake in iFood, showcasing how undervalued the sum of the parts basis. The company has 28.2 billion euros in total gross value.
Getting inspired by the success of Just Eat, many are choosing to develop advanced solutions similar to it. They are trying to understand how Just Eat works by understanding the Just Eat takeaway business model. If you're looking to automate your restaurant or food ordering and delivery business operations, have a quick look over the flow and understand how our branded solution helps you manage business activities from one place.
Just Eat Business Model: How Delivery Company Caters to Customers' Growing Needs?
Just Eat operates on a hybrid business model, meaning the company partners with the restaurants to cater to the growing food delivery needs of customers. They work together by entering into independent contracts to cater to the orders. Success-based Just Eat business model ensures great cash flow and creates value for restaurants, shareholders, and other partners.
The impressive Just Eat Takeaway business model helped the company to complete millions of orders effectively. In 2020, the company received nearly 588 million orders; this number shows a great increase as measured around 413 million during previous years.
Just Eat Takeaway.com operates under distinct brand names in different countries. For example, Thuisbezorgd.nl in the Netherlands or Lieferando.de in Germany. More than 60 million active customers actively registered with Just Eat Takeaway in 2020; the majority of customers were from the United Kingdom and Germany.
There are two interdependent customer segments in the marketplace-based Just Eat business model; these include:
Customers: Those who want to order food from local restaurants.
Restaurants: Local food stores and restaurants that want a large customer base and offer take-out.
As an intermediate between restaurant and customers, Just Eat easily manages the product sorting, discovery, orders, payment process, and everything related to delivery. Customers can explore menu items through the website and the company's app. Let's explore the customer segment and more to understand the Just Eat business model and identify how it operates to satisfy the needs of food lovers.
Value Proposition For Customers
The company provides three key value propositions to customers that are performance, customization, and convenience. Feature-rich online food ordering and the delivery app provide convenience to customers by enabling them to identify all the restaurants nearby them.
Customers who love the take-out option can download the Just Eat app on their smart device or can visit the website to make an order. They can use multiple payment options to complete hassle-free payments and can also write reviews about the restaurant and delivery provider with ease.
Value Proposition For Restaurants
Just Eat provides mainly four value propositions to restaurants and other food stores: accessibility, performance, decreased risk, and convenience. The delivery company improves the accessibility of restaurants by informing customers about them; this enables restaurants to get more customers and improve their business reach.
Just Eat helps restaurants generate more orders. The easy-to-use delivery platform generates more than 2,500 orders during peak hours. Additionally, restaurant online orders are almost 25% more than telephonic orders.
Just Eat follows a multi-faceted business model with two primary independent segments that are essential to operating a successful business.
· Individuals who want to order Takeaway from a local restaurant;
· Food lovers who want to enjoy tasty and delicious meals;
· People with busy schedules who don’t have enough time to cook.
· Food stores that want to improve their business reach;
· Grocery stores that want to expand their customer base;
· Those who are expected to grow their business sales and profits.
Recently Just Eat has revealed a list of six of Bradford's best-reviewed takeaways. The food delivery brand focuses on developing great relationships with its customers; they are allowed to use the service through the leading platform and with limited interactions with employees. Besides, it also enables restaurants to answer all customers' doubts through phone, email, etc.
Just Eat Revenue Model: How Delivery Company Makes Money?
Effective Just Eat Takeaway business model makes it easier for an online platform to provide the best food ordering and delivery service. The company operates under various brand names in many countries, including Thuisbezorgd.nl in the Netherlands and Lieferando.de in Germany.
Just Eat Takeaway grew between 2015 and 2020; in 2015, the revenue amounted to around 77 million euros, whereas it increased by two billion euros in 2020. The Dutch portal Thuisbezorgd.nl saw a total value that was higher than their competitors Deliveroo and Hungry.
Just Eat's revenue increased by 33%, which is around €5.3B in 2021; it has raised a combined $2.9 billion across nine rounds of debt funding and equity. Leading investors include Index Ventures, Rheingau Founders, Prime Ventures, Redpoint, Venrex, and 83North.
You might be wondering about how Just Eat makes money through its revenue model; it earns through delivery fees, restaurant fees, and more. Let's explore the Just Eat revenue model in-depth right here.
Most of Just Eat Takeaways' revenue comes from restaurants as the platform charges a commission for every order. Restaurant commissions differ depending on many factors, including restaurant location and others as well. Just Eat charges 10 to 15% of commission from restaurants.
Delivery and Services Fees
Just Eat also charges delivery fees and service fees from customers. Just Eat costs between zero to £4.50 per delivery; this charge depends on distance. Just Eat charges around £1.99 or more as the additional cost.
Sponsored Placements Within The Platform
Just Eat partners can boost their presence through promoted placements. It is an advertising platform that places a restaurant in the top five results on its website and app. The delivery giant also charges through the Cost Per Click (CPC) model, which means each time customers click on advertising, the restaurant has to pay a small commission.
Just Eat Takeaway partnered with Adyen in 2021, a payment processor that provides online payments for various tech businesses. They introduced Takeaway Pay Card, which is a pre-funded debit card that workers can use for meal expenses. The card permits all the employees to buy goods and services at thousands of eateries and shops that accept Mastercard and Maestro.
Get Your Food Delivery Platform Developed Today!
We hope this article might help you to have insight into the Just Eat business model, how it makes money, and more. Looking to the Just Eat success, if you are thinking of starting a similar business, White Label Fox can help you with it. Check the online delivery service app pricing and more to make a smart choice for your delivery app.
Our developers can deploy feature-rich food ordering and delivery apps as per your business requirement. Just specify your requirement, and we will do the rest. Contact us today to know how we can help you streamline your business process: [email protected].