In an era where convenience is king, food delivery apps have emerged as the ultimate game-changer for both consumers and businesses. As an entrepreneur, understanding these digital platforms is crucial to tap into the promising online food delivery industry valued at over $150 billion globally.
From popular aggregators like Uber Eats to niche apps focusing on specific cuisines, there’s a vast array of opportunities waiting to be explored.
This blog has insights into the top food delivery apps including the funding and revenue possibilities needed to thrive in this competitive landscape.
The Best Food Delivery Apps in Chicago for Entrepreneurs
These are the popular food delivery apps in Chicago that offer express delivery, great discounts, and ones that have sustainable annual revenue.
Founder: Andy Fang, Stanley Tang, Tony Xu, and Evan Moore.
Inception and Total Funding: Founded in 2013. Funding $2.5 billion.
Business Model: With its platform-to-consumer business model, DoorDash links customers to several eateries. Customers can quickly and easily have meals delivered from these participating restaurants.
Unique Selling Proposition: Its USP is the number of restaurants it partners with and its dedication to providing lightning-fast delivery. As a result of the high quality of service it consistently delivers, DoorDash has quickly gained the favor of its users.
Brief on the App with Revenue Details: The DoorDash app streamlines the process of ordering and having food delivered. It’s a one-stop shop for all your dining needs, with options from a wide range of restaurants and cuisines.
DoorDash generates revenue by taking a share of the restaurant’s takeout sales and a part of the customer’s delivery fees for each order placed through the app. The annual revenue of DoorDash for 2022 is $6.6 billion.
Founder: Travis Kalanick and Garrett Camp in 2009.
Inception and Total Funding: Founded in 2009. Funding $24.7 billion.
Business Model: The Uber Eats platform is a three-way marketplace between drivers, restaurant owners, and consumers. The Uber Eats business model combines aggregator and on-demand features into a multi-sided platform.
Unique Selling Proposition: What makes Uber Eats stand out from the food delivery apps in Chicago is the way it works in tandem with local eateries and food delivery providers. It aspires to make ordering from local eateries as simple as calling for a taxi.
Brief on the App with Revenue Details: Available on both iOS and Android, the UberEats app connects customers with nearby eateries and facilitates delivery of their orders.
Customers pay a delivery fee, restaurant partners split the profits from customers’ orders, the app works with restaurants to promote their products, and delivery partners pay a small fee. The success of Uber Eats can be attributed in large part to the company’s diverse revenue strategy. This enabled Uber Eats to have an annual revenue of $11 billion in 2022.
Founder: Bastian Lehmann, Sam Street, and Sean Plaice in 2011.
Inception and Total Funding: Founded in 2011. Funding $140 million.
Business Model: Postmates is based on the courier aggregator model. It’s like an intermediary between customers and restaurants in the area, facilitating orders from anywhere in the city and not just partner restaurants.
Unique Selling Proposition: The business makes money from the merchants and eateries it works with by taking a portion of each order’s total price as well as from delivery and service costs. Postmates’ app also features adverts, which contribute to the company’s revenue stream.
Brief on the App with Revenue Details: The goal of creating the Postmates app was to give customers an easy way to shop. It has a clean design that makes it easy for customers to explore the many offerings of nearby shops and eateries.
Postmates generates some income from the ads that appear in the app, most likely through affiliate marketing. However, the majority of earnings come from merchant and consumer delivery and service fees and a portion of order value. Its annual revenue is around $1 billion in 2022.
Founder: Jed Kleckner.
Inception and Total Funding: Founded in 2004. Funding $49 million.
Business Model: Delivery.com operates on a commission-based model among the food delivery apps in Chicago. It means that for every purchase made on their platform, the company receives a share of the profits. Delivery.com stands out from other services as it allows consumers to buy not only food and alcohol but also laundry and dry cleaning.
Unique Selling Proposition: Delivery.com’s competitive edge is the variety of services it offers. While most delivery services only bring food, Delivery.com allows clients to order from a wide variety of local restaurants and stores. This aids the firm in standing out amongst its rivals in the industry.
Brief on the App with Revenue Details: Customers can place orders quickly and easily using the Delivery.com app because of its user-friendliness and intuitive design. You may use it to keep tabs on your orders in real-time, choose from a variety of convenient payment methods, and get suggestions based on your past purchases. According to the most recent financial statements, the company generates roughly $97 million in annual revenue.
Founder: Matt Maloney and Mike Evans.
Inception and Total Funding: Founded in 2004. Funding $284 million.
Business Model: The majority of the company’s income comes from a commission-based model in which it charges eateries a flat fee for each order. The app allows customers to order meals from nearby restaurants, which are subsequently delivered by drivers partnered with Grubhub.
Unique Selling Proposition: The USP of Grubhub is that customers can browse menus from many different popular and local eateries in one convenient location. Furthermore, Grubhub is distinguished from rivals by its effective logistics system and priority on customer service.
Brief on the App with Revenue Details: The Grubhub app has a straightforward design, permitting easy browsing, ordering, and tracking of meals. Customers can personalize their experience by selecting certain filters, such as cuisine type, restaurant rating, price, and estimated time of delivery. In 2022 Grubhub earned $1.8 billion in revenue.
The food delivery sector is at a promising stage in Chicago, especially given the region’s projected growth post the pandemic. However, to succeed in a competitive market, carry out extensive market research, learn about your users’ preferences and requirements, and prioritize the features you need.
Appscrip’s food delivery app development solutions will ensure you own a competent food delivery app with your company’s branding, integration of payment gateway, and driver/order management features. Contact Appscrip now!