Many tech startup products do or will eventually involve a marketplace, a function that will allow buyers and sellers to do business. There are a few fundamental considerations that must be understood in order to achieve success with such a function.

You cannot do it alone

Legislation exists that prevents a company handling money for others, unless that company is specifically set up for such a purpose. These companies would be the banks or payment processing solutions like PayPal, MANGOPAY, Stripe and Lemon Way.

Depending on the product, the procurement method, the delivery, and the communication process to allow buyers and sellers to communicate and process transactions to ensure delivery from one to the other, the requirements of your website can be quite complicated.

Start simply

In the beginning, you will want to start simply, with something like an e-commerce platform that offers a marketplace plugin. Services like WooCommerce and Shopify, or software like Magento and WordPress can allow you to access what you need and can allow some customization without a costly solution.

Though this is a temporary option, and will require you to redevelop someday, they are a good place to start.

Grow smart

When you are ready to take next steps, look for evolving solutions that can make the development of next steps easier. Bubble is a great option that offers a visual program that can help with app creation. Zeroqode is another option for developing backend solutions without code quickly and easily.

Hopefully this has given you some ideas about what you must consider before you move forward with your marketplace. I would recommend that you take some time to create a roadmap so that you can define what your needs will be and your next steps. If you need help building a roadmap for your startup project, check out the free course that I’ve created here.

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