Everyone’s driven by something, but now you get a chance on driving seat of India’s luxury cars with the help from JustRide.in. So for now, what motivates a person to quit a lucrative investment banking job at a reputed multinational bank to pursue a bohemian idea of forming a startup venture.
JustRide, a startup which rents cars for self-drive, traces its roots to an idea which took seed on an unfateful day.When a colleague ended up crashing Ashwarya’s brand new Ford Figo, instead of being bogged down by the incident, he decided to quit his investment banking job at Nomura to pursue a maverick idea of establishing a self-drive car rental company along with his friends Hemant, Vasant, Abhishek and Amit.
Tucked amidst a host of startups, the company commenced operations at Hiranandani Gardens in Powai this February. Business has been brisk ever since. With over 300 unique customers, the key to JustRide’s swift rise in popularity lies in the accessibility of their service. Traditional car rental companies in Mumbai charge exorbitant amounts as security deposit which dissuades potential customers from availing their services. At times people intending to avail such services must cover a good distance to pick their cars. JustRide aims to solve these issues through customized insurance and a hyperlocal service model based on webbed parking.
With security deposit as low as Rs.3,000, JustRide has tapped into a new segment of customers. However, the startup’s most ambitious plan is to implement a dynamic pricing model based on user driving index, where customers are rewarded with lower rental charges for driving safely. “Rash drivers shall be charged a higher rate. This is an excellent incentive for our customers to adhere to traffic norms. In short, we’ll be able to hedge risks while promoting a healthy driving environment on the streets” says Amit.
When one thinks of purchasing a car, the imminent question is cost and maintenance. Coupled with changing aspirations of the younger generation who’d rather spend more on a cellphone than a car, owning an automobile is gradually losing its charm. “I worked as a consultant at Price Waterhouse Coopers & my professional obligations compelled me to switch cities every year. Buying a car was completely out of question,” says Abhishek. With migration between cities on the rise, demand for rent-a-car services will grow inevitably.
“We value our customer’s experience above all. The process of renting a car should be hassle free. Unfortunately such services are not accessible to all in the city,” says Ashwarya.
Unorganized car rentals with poor services currently account for more than 50% of the market share of self-drive automobiles due to the inability of existing companies to cater to the needs of the public. The company’s next station at Chandivili is scheduled to open this weekend.
Now whenever you fancy luxury smooth drive, you can rely on Justride.in