The number of companies in the competitive set for peer-to-peer economies continues to grow and the market has never been better for freelancers or their clients. Someone to fix your sink, clean your apartment, or just about any quirky job you can think of is now just a click away. Does that sound handy to you?
A Handy History of Household Solutions
Oisin Hanrahan and Umang Dua founded Handy (formerly Handybook), a company offering just that: handy home service. The key to scaling such a business across three countries and up to 28 distinct services since its founding in 2011 is having sound competitive intelligence. Companies need to know their market base, customers, and competitors, as well as the conditions that are needed to build success. Thousands of consumers are attracted by the simplicity, security, and speed of the booking system, connecting them with pre-screened home service professionals every week or at your beck and call.
Hanrahan first recognized the need for a handy service business when he was a 19 year old real estate developer in Ireland. During his renovation projects he struggled to find reliable handymen. Later, while attending Harvard Business School, he and fellow student Umang Dua realized that the problem was endemic in the United States — busy lifestyles left people with more money than time. Seeing an obvious niche, they co-founded Handy to provide an easy way to find and hire help with daily household tasks.
A two-sided approach that balances the needs of freelancers and their clients is required, but Handy is not alone and competition is fierce in the peer-to-peer market. Companies such as TaskRabbit and Airtasker are also deeply invested in the household services market and have their own unique business models.
|Go to Handy’s | TaskRabbit’s | Airtasker’s company profiles on Owler to see other competitors, CEO ratings, latest news, and much more company data!|
Separating the Sheep from the Goats
While many businesses adapt over time to the rest of their competitive set, Handy, TaskRabbit, and Airtasker complement each other by providing a range of options that appeal to different breeds of both workers and clients. Some prefer the auction house approach of Airtasker where workers bid on a wide variety of jobs; others like the service-on-demand approach found on TaskRabbit, which presents an instant resolution to their problem. Others trust Handy’s vetted, quality service professionals for their household needs. Differentiated business models and competition benefits everyone in the market; freelancers and clients can try different companies until they find the perfect fit for them.
Holding the Momentum for Sustainable Growth
Good competitive intelligence for your business can scale an operation exponentially, but consistently holding on to that momentum is difficult. Handy and its competitors all focus on tight geographic areas and select logistical markets to maximize engagement, such as housecleaning or handyman services in large cities. Handy started in New York, San Francisco, and Boston to hone its strategy and business before expanding to more cities. In order to create and test a business plan one must have the adequate market research to know the demand of the product at hand. Handy, for example, targeted quality service professions, first focusing its launch plan to build engagement and loyalty without spreading itself too thin. Such a decision would have negatively impacted reliable employment. Handy’s business model rewards reliable workers, since high caliber freelancers can wander to competitors if worker supply is inadequate. Handy has found an effective business model that considers both sides of its clientele, ultimately satisfying both its customers and workers. This has created an attractive ecosystem that is unique to its competitors’. Perhaps that is what makes them the best in its breed.