ONN Bikes, a bike rental service company, has been one of the few start-ups in its domain to have raised a significant amount of funds at the concept stage itself. Backed by US based Zsolt Capital, the Bengaluru based start-up is committed to giving its users a seamless, convenient and affordable mode of commute intra-city as well as intercity with doorstep delivery & pickup services, enabled by physical hub stations all across the city.
Namit Jain, the young & the highly energetic entrepreneur, explains the ONN Bikes unique business model, the heavy list of consumer friendly features it offers and what sets him apart from his competitors to Team NewsBarons.
NB: How did ONN Bikes come about as a concept?
Namit: The concept of ONN Bikes came about on an earlier trip to Goa and was formed into a business plan post a recent leisure trip to Manali. The question that bothered me for a while was ‘why cannot we have two-wheelers as an alternate mode of commercial transport pan India’ and soon the thought transformed into a plan and, today, we are on track to launch our services starting from Bengaluru.
NB: Please explain ONN Bikes service segments?
Namit: ONN BIKES has two business segments. B2C focuses on giving the end user an option of travelling through a two wheeler instead of the overcrowded public transport, frustrating auto meters, and the ‘not so cheap’ cabs. The B2B segment is designed in leasing out motorbikes in bulk to any company whose operational backbone is last mile delivery. Every startup today is hugely dependent upon delivery and logistics, infact, if you remove the delivery feature form today’s ecommerce startups, you are left with virtually nothing. Logistics is the biggest pain point and a big challenge for most companies, be it ecommerce, hyper-local delivery or the upcoming bike-taxi market.
We at ONN BIKES aim to completely make this process hassle free for all these companies, taking most of the operational and financial burdens upon ourselves.
NB: What is your USP and how would you differentiate yourself from your competitors?
Namit: Point to point connectivity, doorstep delivery and pickup of the vehicle, Hi-tech security systems, navigation screens, hourly rental, brand new fleet are some of the delivery features that we are starting with and the list is endless. As far as our competition goes, most of them are very location centric with hardly anyone looking at a national foray as large and as spread out as ours.
NB: How has the reaction to your services been so far?
Namit: We are on our pilot stage and in talks with a huge number of corporates, logistic companies and start-ups. The initial response has been encouraging and we are incorporating the learning’s to our product for efficient delivery. Leasing of motorbikes in bulk on a minimum guarantee scheme is a novel idea that is bound to be a game-changer in the complex goldmine industry that logistics in India is believed to be. Imagine starting up a hyper local delivery company and all you have to do is take 1000 motorbikes on a monthly lease rental and forget about the maintenance, insurance, huge purchase capital? It will make life easier for a lot of the upcoming startups in India.
NB: With operations in Bengaluru now, what are your plans for national foray?
Namit: We are based out of Bengaluru and it is also our first operational destination. Post Bengaluru, we plan to launch ONN Bike services in Pune and Hyderabad this year. We plan to be present across 54 cities in the next 5 years with our services.
NB: ONN Bikes has raised a significant amount of funding from Zsolt Capital. How do you plan to use it?
Namit: ONN Bikes has been one of the few companies in its segment to have raised funds in its concept level and, we believe, that is because of our understanding of the gap in this segment and the high opportunity levels that this model provides. The funds will primarily be used for market expansion, product development and hiring right talent to support our aggressive growth plans.