Wednesday | 27th August 2020: On a mission to transform the mobility space, eBikeGO is now working towards fuelling greater adoption of electric mobility by accelerating the ecosystem supporting electric vehicles (EVs) with the launch of its pioneering franchise model.
Founded in 2017 and headquartered out of Mumbai, the young start-up is focused on promoting clean, non-polluting mobility solutions to users. Pushing its vision to make e-mobility a mass revolution, intelligent mobility solutions provider, eBikeGo is launching a franchisee model that spurs wider availability and adoption of electric vehicles.
This game changing move comes at a critical time when the country is facing tough economic environment brought in by the global health pandemic COVID-19. The franchise initiative is geared to further support and push Prime Minister Narendra Modi’s vision of creating an Atma Nirbhar Bharat (self-reliant India).
Talking about the eBikeGO Franchisee Partner program rollout and entrepreneurial opportunities that the initiative will create in times of COVID-19, eBikeGO’s Founder and CEO T Irfan, Founder, says, “Our move to launch a franchise program will help generate much-needed opportunity at a time when millions of Indians have lost business and livelihood. The eBikeGo Franchise Partner Program will open up self-employment opportunity for hundreds of Indians across key markets such as Delhi, Bengaluru, and Mumbai. We are all for encouraging young budding entrepreneurs who want to contribute to a cleaner environment by investing in e-mobility solutions and join our platform and endeavour in boosting the adoption of EV vehicles.”
In its quest to promote entrepreneurship in the EV sector, eBikeGo is targeting and roping in partners from legacy businesses which are looking to be a part of a futuristic, sunrise industry like EV, tech entrepreneurs who see value in being a part of the of IoT-enabled mobility revolution, and young entrepreneurs who are keen to ride the start-up Atmanirbhar wave and contribute to PM’s self-reliant India dream.
The e-mobility solutions provider is looking to transform the EV landscape and ecosystem through its FOCO franchise model. Through this franchise owned and company-operated business model, eBikeGo will offer and extend its platform, brand, technology and operational support to its franchise owners that in turn extends as subscriptions-led mobility plans to EV enthusiasts.
The partnership is a win-win for both eBikeGo and franchise owners. FOCO model allows eBikeGO channelize its focus into building the platform, offering best in class service, and increasing its customer base. Franchisee-owners, too, stand to gain. Since the asset is owned by the business partners, they are well-placed to leverage and benefit from eBikeGo in the marketplace to promote and operate their EV fleet with expertise. Further, it gives established as well as budding entrepreneurs become a sub-segment of a sunrise industry such as EV, taking a share of its gains. Partnerships with eBikeGo give these entrepreneurs ready and easy access to a large and fast-growing EV industry.
The franchise partner program has been built on sound economics that allows break even within two years that most investments currently are not able to deliver. The eBikego Franchise Partner model will require investments between Rs 20 lakhs to Rs 1 crore with high return on investments upwards of 30%. Clearly, franchise partner program is built to spur new business opportunity, attracting business communities that have been impacted by current challenging economic environment in the wake of COVID-19. Further, this franchise model will create a strong ecosystem of dealership networks for EV vehicles, that is currently deeply missed in the EV sector, and help boost sales by facilitating greater adoption of EVs.
The franchisee model kicks in at a time when health pandemic COVID-19 is poised to accelerate the adoption of non-mass, clean mode of transport including EVs. eBikeGo’s franchisee model is going to expand and accelerate the adoption of EVs in the Indian market. An underpenetrated market, currently India has a small share of 0.5 per cent in the global EV market in comparison to lion’s share of 30 per cent held by China. Riding high on a franchise model, eBikeGo can play a critical role of being a market accelerator that fuels faster adoption of EVs and help realise the Indian government’s dream of getting 28 million EV vehicles on the road by 2030.
