In today’s world of multitasking, everybody is bound to prioritize their chores. And when that happens, activities which are seemingly unimportant, but vital take a backseat. One common things that bears the brunt of this is our vehicle. An oil change waits till our engine conks off. That battery recharge waits until our vehicle stops dead suddenly or rather just a missed scheduled maintenance till the potential financial pinch of it makes us weep.
To be fair, it isn’t always carelessness on our part that damages our vehicles. Factors like when and which services are necessary, which service provider is reliable, which is value for money, who offers pick and drop, and a lot more plays along.
A quest to find a solution to these glitches was within four friends; Bharat Ostwal, Sunil Gupta, Amisha Shah & Abhishek Gupta, and what they found was Autoyaar.com which got launched in mid October 2015.
What is the Vision of the Company?
Autoyaar considers simplicity as the ultimate sophistication. The startup aims to become an innovative and renowned organization in the field of automobile servicing through constant evolution and up gradation to provide a level of experience which our customers truly deserve. Currently specializing in the categories of two wheeler servicing, four wheeler servicing, tyres, batteries and car spa in Ahmedabad, Autoyaar will soon spread its wings in other domains and multiple cities with its simple and user friendly interface, Autoyaar.com
The company believes that by changing the way people get their vehicles serviced, their small idea is all set to change the face of automobile servicing industry.
Problems Addressed by the Startup
About 60% of the automobile servicing industry in India falls under the unorganized segment. In an age where the traditional market has moved onto a digital platform, the entire automobile service experience in India is still primitive and full of gaping holes. The cost & quality associated with vehicle service are a pain point and most of the times a mystery for the vehicle owners. Lack of trust & transparency, compromised quality of service and disparity in pricing are the major issues faced by the consumer and eventually, consumers end up compromising on their vehicle’s service.
Autoyaar is unifying this unorganized automobile service industry into a single organized platform. It’s an online aggregator and a one stop solution for all automobile services. Consumers can not only explore the best service providers & workshops near them, but also conveniently book for a service online.
Feature/Services of the Startup
Autoyaar.com is an online marketplace for automobile servicing providing listing and booking services for two & four wheelers. Be it any vehicle service related query; search of a good workshop within the vicinity, or a place to get genuine tyres & batteries, an economical service center for regular maintenance or a plush place for car spa; Autoyaar takes your entire automobile experience online.
Customers can pick, compare and choose from a host of service providers based on locality, make and model of the vehicle as well as services desired. Detailed profiles of the service providers which include real time pictures, list of services and facilities, reviews and ratings helps the customer make an informed choice; all of this just in a few clicks.
How is this Startup Different from other Players Competing in the Automobile Segment?
Autoyaar stands out amidst all others as it is the only platform in the country that not only caters to both two and four wheeler segment, but also provides listing and booking services to customers.
Also, the company is attempts to provide convenience not only to the customers but also to the service providers. “We aim to bridge the gap between customers and the service providers making it easy for them to plan and manage their bookings efficiently”, maintains the team.
The startup claims to have catered more than 305 customers so far for its online booking services and more than 3000 customers over the listing model. It has signed up with 1000+ service providers. This includes names like Bosch Car Service, CarzSpa, Castrol Pitstop as well as a few authorized service providers of major vehicle manufacturers.
Neither the customers, nor the service providers are being charged for its services currently. The company is planning to monetize through a commission-based model. Commission fees for its online bookings and subscription fees for listing from the service providers would range between 10-15%.
Key Challenges Faced by the Company
“Most of the automobile veterans have been operating in a conventional way. Educating and convincing service providers to get listed in was a challenge”, said the team.
They added that reluctance towards adopting a digital platform as well as standardization, particularly in rates and services was another challenge. Though to their surprise about 80% of the workshops associated with for online bookings were known to be digitally comfortable.
The process was very time consuming as each service provider had to be visited personally to ensure that there is extreme accuracy in providing the consumers with real time information.
Autoyaar is currently bootstrapped, working with funds contributed by the founders. The startup is already in the process of initiating talks for raising funds with a few angel investors. These funds will be utilized for geographical expansions to major metro cities in the coming few months. The capital will also be used for technology as well as marketing.
The company plans to expand to 3 metros in the coming in the next 6 months – Mumbai, Delhi & Pune. Starting our online booking services first, followed by listing for four & two wheelers respectively. “We intend to cover a minimum of 80% of the unauthorized service providers in any given city,” stated the team. A short listing of the best amongst them to associate with for the online bookings will happen basis the zones / areas the city gets divided into. Selection of the cities for expansions will majorly depend upon the number of vehicles and internet users in any given market.
Further, apart from automobile servicing, Autoyaar will soon have services like Road Side Assistance, Accessories & Modifications, Insurance and a few other services added to our platform.
Moreover, its app is on its way.
Scope in this Sector
The automobile industry in India is considered the largest in the world, with an annual production of 23.37 million vehicles in FY 2014-15 and the automotive after-market servicing business in India is estimated at about $2 billion in 2015 according to CII-ACMA .
Given the size of the market and unavailability of any such model, there is tremendous gap between the demand and supply and this itself is big potential for this segment