Nothing is permanent but change. The world is continuously evolving and so are we. Covid19 has been an eye opener for many businesses across the world allowing them the scope to revisit their business model and bring changes.
The shared economy, which was being touted as a revolution and was hailed by the minimalists as the new norm and world order was deeply shaken by the pandemic. The combustion engines which took over 100 years to reach its current stage suddenly started appearing as a thing of the past with the advancement in battery technology. The orders and norms are changing faster and only the companies who can adapt faster will be known as the ‘Game Changers’.
Industry - Opportunities and challenges.
The mobility sector is at a nascent stage and still needs time to mature. New age start-ups driven by technology have been enabling the consumers with options to explore the non-traditional modes of transportation.
In India, ‘Two wheeler rental’ is a relatively new concept and till 2015 was limited to the tourist state of Goa, even though the scheme was launched in 1997. The vast majority is still unaware about the existence of App based on demand ‘Two-Wheeler mobility services’.
Covid 19 helped promulgating the services as an alternate and safer option to the public transportation system. One of the primary worries for the daily commuters and travellers was to use a mode of transport that was carrying multiple passengers and didn’t have enough safety measures. The worry was mitigated by our app based on demand rental vehicles which could be used as personal modes of transportation hassle free at the click of a button.
Evolution of new ideas
Covid 19 helped us realize our potential to serve an alternate option to the public which was safer and convenient. In the midst of the pandemic we launched Royal Brothers X, typically is a subscription model for long term rentals. Consumers can choose to rent vehicles for up to 9 months at a stretch.
This product was specially designed to cater to the needs of the consumers who didn’t want to own the assets nor the hassles that come along with ownership of such assets. However, such
consumers did want travel and commuting option just for themselves.
The airline industry was majorly affected by Covid however they soon developed SOP’s to mitigate the risk by taking extra precautions. Soon the confidence level grew and the passengers started taking flights again however they were wary about taking taxis or buses from the Airport to their next destination. This is where we saw the opportunity to provide an alternate option to unlock the latent demand.
Bangalore International Airport being the tech savvy modern airport wished to collaborate with us and soon we were working on launching India’s one and only Bike rental at an Airport in India.
Motorbikes can be sanitized easily and every vehicle can be used as a personal transport machine by single user. The same idea can be replicated across various airports, railway stations, bus stands and all such places in India as an alternate option to the regular public transportation system.
Still on cards –
The shared economy, which was being touted as a revolution and was hailed by the minimalists as the new norm and world order was deeply shaken by the pandemic
With the industry evolving and the company successfully establishing new business models. There is a move towards exploring more opportunities like
- Accessory rentals and sales
- B2B platforms
Accessories have been a crucial part of the motorcycling culture and what better than having a motorbike and the accessories along with it under the same roof.
We are also looking to develop more alliances with hotels, paying guests, resorts etc to provide a personal on demand transport option completely eliminating the need to risk using public transportation or shared transportation services.
Covid made people realize the power of owning their own businesses and this led to bombardment of franchise requests on our platform. Most of the requests came from first generation entrepreneurs who want to establish a business that is backed by technology and an established brand name.
We are essentially acting as the new age one stop shop for all commuting, travelling and exploring needs. Each of our stores can enable various services like rentals of vehicles and accessories, sales and service of 2 wheelers, act as test ride locations for new models and what not.
Franchise is a growing avenue for us and post signing 10 new deals recently RB, is looking to expand this avenue with more interested candidates.
RB2.0 is a newer version of the same passionate team that has survived the blow of Covid and has evolved as stronger and better than the peers and the competitors.