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Want to get a Bike in Bangalore for monthly rental? Ontrack does it for you!
1. Can we get introduced to the Founders of Ontrack? (with their Education & Work backgrounds)
Harshit, impassioned by his entrepreneurial spirit, designed Ontrack’s first business model. He aims to drive the business forward by offering an alternate mode of ‘vehicle ownership’. His underlying passion for problem solving enables him to design the most effective business strategies.
Vansh, joined Harshit in April 2016. He is a potential lighter coaching the talents he works with to achieve greater heights & is highly motivated to create a platform for e-commerce with respect to everything related to bike rental/ subscription.
They both graduated with BBA (Tourism & Travel Management) from Christ University (Batch of 2013-16).
2. What led to the origination of the idea of Ontrack? What is the vision behind this?
Harshit’s failed attempt in 2016 to find a cost-effective bike rental in Bengaluru led to the ideation of Ontrack. The company aims to solve the problem of urban transportation by offering affordable & hassle-free transport to the masses.
3. What were the key challenges and bottlenecks faced in the Journey of Ontrack?
Capital infusion is the main challenge due to the nature of business. As the founders are very young & the industry being very naïve, it was difficult to introduce capital during the first few months. Government regulations with regards to rental license & taxation were also hindrances during the journey.
4. What is your philosophy, when it comes to doing business?
There is a single dimension to keep the end-user happy and that drives the business, members in the team & the stake-holders. We work backwards from customers and define the processes aided through technology to achieve the same.
And to add, Just Keep Trying!
5. What differentiates Ontrack from other bike-renting platforms?
Our focus is plain and simple with only one model of operation; monthly rental. Unlike other bike-rentals, who have multiple offering. Our complimentary services such as door-step delivery, no maintenance-cost, zero security-deposit ensures a satisfactory and hassle-free experience to the customers.
6. What was the go-to market strategy at the time of inception in the already competitive bike-renting market with many players?
Initially, we spent time on understanding the paint points faced by the consumers with the existing bike-rentals. We started modelling our business with the aim to solve that problem. We placed our product smartly between public & private service providers ensuring independent & cost-effective transport.
7. Have you managed to raise any funding? How are you funded?
We were bootstrapped until December 2017 and then we raised a round of seed investment from couple of domestic angel investors and Diverse Middle East FZE, Dubai.
8. How many customers have enjoyed the services of Ontrack? Any notable responses?
We have over 15,000 users registered on our platform with over 2500 completed bookings. Our service has been consistently rated 4+ across different platforms.
Few of the reviews on our Facebook page:
-The bike they provide are so good! Loved the experience and service!
- It's amazing and most valuable thing in my Bangalore life it saves me a lot and I travel almost south Bangalore with the help of Ontrack which is best, cheap and a super service. I suggest you use this Ontrack bikes for its better arrangements, savings and even instead of own bikes.
9. Where do you envision to see the customers using the service reach in the next 2-3 years?
Our vision is to have 25000 bookings 2-3 years from now with full emphasis on customer service and improving our product and other customer touch points on the way.
10. Which are the current Operational cities of Ontrack? Are there any expansion plans on the cards?
Currently, we are operating only in Bangalore. We believe in going deep in the market rather than touching multiple cities with little penetration. So, no expansion planned as of now.
11. What is your message for the Entrepreneurship enthusiasts?
Message for future entrepreneurs is that believe in yourself, believe in your idea, focus on execution as this is the critical part and touch as many human lives as possible. On the way, you will get challenges but don’t get bogged down by that as its normal for a startup to pass through troughs and crests.
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Any facts, figures or references stated here are made by the author & don't reflect the endorsement of iU at all times unless otherwise drafted by official staff at iU. This article was first published here on 21st February 2019.