Mind Your Fleet aims to reorganize the cluttered cab rental industry
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The idea of Mind Your Fleet was incepted when co-founders, Jitender Arora and Malvinder Singh Rikhy, understood that technology has the potential to create an alternate universe for the ground transportation & logistics sector, which will help traditional car rental companies & cab aggregators like Uber and Ola optimize & grow their business through a mutual beneficial association, instead of competing with each other.
Mind Your Fleet provides an online collaborative tool for all ground transportation & logistics company through a SaaS (Software as a Service)-based technology. With features such as native apps for customers, drivers, corporate bookers & suppliers, advanced booking engine, automated dispatching technology, easy payment integration through digital wallets such as Paytm & Mobikwik, quick and hassle-free invoice generation, Mind Your Fleet helps ground transportation & logistics companies, especially car & bike rental businesses to manage, promote and distribute their business online.
Uber, Ola have captured only 10 pct market share, rest 90 pct belongs to traditional car rental companies
The Ground Transportation & Logistics sector in India is a mammoth industry with huge potential will be an understatement. However, this sector is also alarmingly unorganized. With the coming of Uber and Ola, an impression has been going around that the industry is getting structured. However, the market research numbers show quite a different situation. As of now, Uber, Ola and other such aggregators have been able to capture only 10% of market share. The remaining 90% still belongs to traditional car rental companies who are mostly focused on B2B services. Even then they face the danger of losing their businesses to cab aggregators enabled with the power of technology. Cab aggregators, because of their lack of own inventory and drivers, lack ownership and trust.
This intense and unavoidable gap is the point where Mind Your Fleet is aiming to fulfil. We understand, simply building technology is not enough. Technology can only be valuable if it is being used by the masses. Hence, MYF’s technology, instead of pitting car rental companies and cab aggregators against each other, creates an alternative platform where all the players in the market co-exist with each other, and can optimize & grow their business with a mutual beneficial association.
Mind Your Fleet will work because it is building a product which will become a necessity for every single transport company and aggregators alike to run their business.
Not looking at developing an India-specific product
We’re not looking at developing an India-specific product. The idea of Mind Your Fleet is that car vendors and suppliers can connect with each other globally and thus will have the access to a real-time online virtual fleet, with a single touch on their smartphone screen.
We’re already active in UAE, outside of India. However, we’re following a strategic expansion plan and are choosing markets which not only promise to generate revenue but can also serve as a testing ground for further expansions at a rapid pace. Keeping this in mind, Kenya and in a broader sense, Africa seemed like the perfect market to start with.
Learning from entrepreneurship
“The beauty of entrepreneurship comes when you understand your organization as a complete living being, recognize various departments as the organs running it, and acknowledge employees as the singular cells, working tirelessly to make the entire body perform in a wholesome and seamless manner. At the end of the day, the satisfaction of an entrepreneur comes from realizing the fact that you’re not a singular entity anymore. You’re part of a holistic ecosystem, working towards the betterment of society as a whole,” Malvinder Singh Rikhy, co-founder said.
“My learning after being an entrepreneur has been that learning never stops, it evolves and moulds itself according to the era. I believe that thinking is incomplete if it’s not followed by any action. Hustle, struggle and do. Success is not the final answer. Completing the journey is,” Jitender Arora, co-founder said.
In the next 5 years, if not less, the company sees itself building an integrated, holistic, self-serving transportation marketplace which is available for each and every car vendor, supplier and car rental companies, globally.