We are publishing an interview of Mr. Aniket Agarwal, Founder- CEO, Farishtey Logistics Pvt. Ltd. – A Pune based logistics startup which delivers any thing anywhere within minutes within the city.
About the founders
Farishtey is a 1 founder company. However they are fortunate to have some gentlemen mentoring the company along the path. Aniket Agarwal is the founder. He is (BBM- IB) Bachelors in International Business Management & (MBA) Masters in Construction Management.
What is the problem you are trying to solve? Can you share with us any insights that led you to believe that this is a big enough problem?
Farishtey comes handy for every situation where an individual is required to step out from workplace or home be it delivering something or fetching it.
With an eye over the market and general observations, we learned that the service could not be bared to businesses, restaurants, students, housewives, professionals or patients. But with an organised reach , Farishtey could be a household name when it comes to step outside.
What is the uniqueness about your Startup?
Farishtey Delivers not just food and people. It delivers any thing any where within minutes within the city.
Why do you choose crowdfunding?
Crowdfunding shall enable us to reach larger mass with our errands and delivery services and make our real-time solutions visible to a larger audience.
Another reason to opt of it is to gain a primary experience of fund raising irrespective of the amount.
Why should anyone or investor back you?
It would have been a difficult question to answer had it been asked a few months earlier. Now , Farishtey has not just grown from a drawing board business plan to a running business, it have also reached self sustainability wherein the business expenses , operations and all the administrative cost affiliated to the venture are being taken care by the revenue it generates.
Our team is highly motivated, experienced in the field and carries a background of success in other ventures. Our business model in not just structured to do well, but to demonstrate outrageous growth over each quarter which we have been already achieved this quarter. Some of our clients are major brands in FnB industry including Zomato who got on board with us post suspending the services of other vendors and on board till date. Now the investors or any potential allies willing to associate and be a partner in the growth story, shall reap benefits from the fast growing business and value of their share value.
Our C to C model have a substantial profit margin which needs to be more publicised. However with investors with bestowed confidence in us, Farishtey could focus its operations majorly in the C to C segment and carve a dramatic growth charting a hockey-stick graph.
Where can people back your project?
Pune
What would you do after raising funds?
The applications of the amount raised is subjective to the amount raised. However on achieving a desired capital raise, the funding shall be used for marketing in corporates, tieing up with IT conglomerates for errand services, hiring and empowering the riders through training and development.
However with the first round of funding, Farishtey shall begin services across the city expanding its focus from western city to entire city with a transitional shift from B2C to C to C
What is the revenue model? What is the logic behind it? What is the model you are following – Free / Freemium / Premium etc. ? Explain your thought process.
3 Main sources of revenue. Its a premium service where our services are charged higher than conventional courier services.
- Business Clients: Average Order Value Rs. 45 to Rs. 55 per order.(contributes to 65% of the business)
- Office Clients: Average Order Value Rs. 95 to 105.(Contributes to 20 % of the Business)
- Retail Clients: Average Order Value Rs. 120 to Rs. 130(Contributes to 15% of the business)
With Planned Marketing and business development, We could enhance the business through Retail Clients where the output of the farishtey riders is utilised to the fullest with distant orders thus generating higher revenues.
Who are the consumers that you are targeting? How is this going to affect them?
Any person,company or entity who requires instant outdoor errand services or requires on demand delivery service. The service cost to customer being minimal, the potential customer base is mammoth .( Housewives, Business owners, cottage industry owners, students , agents, retailers, professionals , hawkers, individuals, patients, etc)
To give a better insight about our services , following are some of the scenes where Farishtey is required:
- Farishtey gives solution on demand of instant errand service.
- Immediate Fetching of Forgotten objects.
- Getting outdoors jobs done by cutting down traffic, weather and time hassel.
- Picking up object 1 from location A, object 2 from location B and object 3 from location C all together.
- If you are hosting a get together or a conference , Farishtey will get you everything on the list, even if it is to go across the whole city.
- Users of farishtey do not step out to collect their medical reports, cloths from tailor or laundry, medicines or drop cheques.
What is the big picture of your startup? Will it lead to something bigger? If so, how?
It tempting to say with flaunting numbers . But at Farishtey we believe and aim at becoming Household name when it comes to outdoor errands and delivery services across all tire 1 cities in phase 1 and then leading to other tire cities as we expand.
With strategic planning, Farishtey goals to be a house hold name pan India when it comes to outdoor errands. ” Farishtey Hai Na!!” Shall be the slang.
Progressing from Errand service in the near future ( 3 years), Farishtey to pioneer Bike taxi in India.
What is the success story of your startup in your own words?
From a name that no one new, In a geography where professional work ethic is alway a primary demand, Farishtey has established itself firmly in western suberbs of Pune City in the IT capital of Maharashtra, Hinjewadi.
We have been tied up with major brands for all in FnB and other services who use our services repeated number of times a day.
With a high growth rate, Farishtey has been doing close to 2000 orders each month.
Our customers are our living testimonies. We have ZERO percent attrition in customer and employee base since Jan 2017 in a market where customers are always switching the service providers.
Not only that , we have been delivering services to Zomato from May 2017.
Any other information about your startup that you would like to share with us.
Farishtey is not just a business but a revolution which we shall see across the nation.
Thanks Mr. Aniket. Best of luck!
