UrbanClap was launched in November 2014 with the vision to organize the home services industry. In the absence of organized players, the market is froth with middle-men and aggregators, who control market access and keep a lion’s share of the margins. Further, as there is no large, well-run, billion-dollar company in this category today, the industry lacks scale benefits - standardization, transparency and trust.
On the other end of the spectrum, we have Indian consumers who spend about USD 30 Billion annually on home services. They largely rely on word of mouth and friends’ or family’s recommendations for search and discovery. As a result, experiences are broken for both customers and end service professionals. The industry could easily be 1.5x-2x larger than it is today, if frictions in transaction journeys are removed – and experiences made more meaningful and memorable.
UrbanClap is building a fulfilment-led services platform to reimagine and organize the key verticals of this industry. At scale, this platform will enable 1 million+ service professionals to become micro-entrepreneurs and deliver high-quality services at home. The UrbanClap platform enables these professionals to become micro-entrepreneurs by helping them in 5 key areas
- Unlocking market access: Working as an individual franchisee of UrbanClap
- Financing Access: bank accounts, access to loans, insurance, etc.
- Tech-led Service Standardization: Fixed pricing, clear deliverables, SOPs, delivery tracking, payment systems, reviews, etc.
- Training: Soft and core skills training at training centers and via the app
- Consumables Supply Chain: Bulk procurement of service consumables
This full-stack model benefits customers in three ways:
- High quality of service
- Transparent pricing
- On time, every time
Build to Last
This full-stack model benefits customers in three ways: We believe in the 80:20 Principle where 80% of the earnings are passed on to the service professionals. Our vision is to build a company to last and not to sell. It has to stand the test of time – that’s our belief.
A large company someday, which is relevant to stakeholders and adds value to the society as well. Moreover, we believe in always sharing the value derived with our stakeholders. While not wanting to sound judgmental, we do believe that if we have to sell the company then it’s like a product – it’s no more a company! But of course we realize, everyone will have their place under the sun and some startups will have to sell eventually because that would be the right thing to do. In contrast, we have a long-term view of the company which we hope will outlive all of us. Eventually, we’d like to go public as well. While it’s helpful to have a long-term vision but at the same time we are cognizant of the short and medium-term goal posts.
We have on-boarded about 20,000 service professionals so far. We want to take this number to 1 million by 2025, which means that we have to look at massive growth to be able to do that – the proverbial 10X growth path will have to followed in spirit. This will only be possible if we don’t have plans to sell the company. We have to ensure that we are sustainable, our model is scalable, efficient in handling capital and that we are able to determine our destiny in our own land.