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Introduction & Case description

How we helped a UAE based investor launch a vertical marketplace

A UAE-based investor approached us to assess the feasibility of launching a vertical freelancer marketplace catering to a specific industry within the region. The investor recognized the growing popularity of freelance work and the potential for a platform that connects skilled freelancers with businesses seeking specialized expertise. This platform would cater to a specific industry or niche, connecting businesses in the UAE/GCC with highly skilled freelancers within that domain. The investor needed a comprehensive understanding of the market landscape, potential challenges, and opportunities before committing resources.

 

They wanted to conduct a detail feasibility study before launching the freelancer marketplace in the UAE as it provides a comprehensive roadmap for risk assessment, resource allocation, market analysis, technology evaluation, competitive positioning, and financial forecasting. Further, in the competitive market environment, the study helps stakeholders identify potential challenges, allocate resources effectively, understand market dynamics and consumer behavior, evaluate technological needs, differentiate from competitors, and forecast financial performance accurately. 

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Our SOlution

360 Degree Feasibility Study

We conducted a comprehensive feasibility study covering all the aspects of running an online freelancing platform in the UAE. Various factors included

  • Market Analysis which included Market Sizing, Demand Assessment to understand the size and growth trajectory of the freelance market in the UAE, identifying key trends, drivers, and segments.
  • Overall feasibility of the project considering the cost of customer acquisition (CAC), CAPEX costs for product development, platform revenue & breakeven, resource strength, etc.
  • Market feasibility including need gaps in the market and the opportunity matrix for the new product, SWOT analysis,
    segmentation, etc.
  • Technical feasibility including the identification of current features offered by the competition and what more can be done to attract users
  • Legal and Regulatory feasibility including Escrow account, payment and taxation laws, commission structure, dispute resolution, incorporation, etc.
 
The results

Insights and strategic guidance for launching.

The feasibility study yielded valuable insights and strategic recommendations, guiding our client in their decision-making process regarding the launch of a vertical freelancer marketplace in the UAE. Key outcomes of the research included:

  • Market Opportunity Identification: Our analysis identified a significant market opportunity for a specialized freelancer marketplace catering to the unique needs and preferences of businesses and freelancers in the UAE. 
  • Technology Roadmap: Through technology analysis, we outlined the technical requirements and considerations essential for the development and deployment of the freelancer marketplace platform. This roadmap encompassed aspects such as platform architecture, feature set, security protocols, and integration with emerging technologies to enhance user experience and competitive advantage.
  • Competitive Positioning: A comprehensive competitive analysis provided insights into the strengths and weaknesses of existing freelancer marketplaces in the UAE, as well as opportunities for differentiation. 
  • Financial Viability Assessment: Financial projections and cost analysis facilitated informed decision-making regarding investment allocation and revenue expectations. By quantifying the potential return on investment and identifying key cost drivers, our client gained confidence in the economic feasibility of launching the vertical freelancer marketplace.

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