Sunil Dhingra, a 32 year old chap has studied MBA from Symbiosis, Pune. He has worked for Tata Communications, Infosys and Mahindra Comviva for around 6 years but the comfort of a 9 to 5 job did not sound very appealing to him. He wanted to chase the dream of being an entrepreneur and that sowed the seed of JazzMyRide, an eCommerce portal based in Delhi for car and bike accessories in the year 2012.
Before going for the entrepreneurship venture, he studied the annual report of global players in the industry by approaching 200 stores and 30 recently opened car showrooms in Delhi, NCR and Chandigarh. He proceeded to start JazzMyRide at a basic capital of Rs. 10000 that included designing the website and setting up a few products. There has been no looking back for Sunil ever since.
JazzMyRide has a team of 50 employees and provides more than 1 lakh products in 150 categories with more than 52 brands. The product categories are interior, styling, utility, spare parts, protection, cleaning, bike accessories, riding gears, bike spares, fashion and car audio.
The business model of JazzMyRide includes purchasing inventory from companies and delivering it to customers with the help of third-party logistics. An important milestone for the company has been its tie-up with 10 third party logistic players like Bluedart, Ecom Express, DTDC and Go Javas.
The company also partnered with TVS ASL for online-to-offline (O2O) retailing approach. TVS has invested a total of Rs. 75 Crores in 3 startups and JazzMyRide is one of them.
JazzMyRide did have some challenges at the outset, like product discovery and supply chain. Nonetheless they had a robust technical system with the help of which they developed a great stocking model.
The vision of the company by mid-July is to accomplish the O2O commerce with the help of a franchisee model first in Delhi and Chennai. Later, it would expand to other cities also. By 2018, the company expects to get twice the products, product categories and brands with branches in Chennai, Bengaluru, Pune, Mumbai and Hyderabad, Sri Lanka and Bangladesh.
JazzMyRide: The journey from a capital of Rs. 10000 to a revenue of Rs. 20 Crores
Very Inspiring content those who want to become entrepreneurs!All the best sunil for ur JazzMyRide
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