Servurance: Aims to Capture at least 10% of the After Sales Services Market In the Next 5 years

BWDisrupt interacted with Founding team of Servurance to know more about their entrepeneurial journey since its inception

When was Servurance Started? How did the idea came to start?
We started Servurance in July 2016 and went Operational in September with our MVP in place. Looking my wife struggle with daily hassles ranging from appliances issues to household services added with the kind of time and energy involved got us thinking . Followed up with market research with potential customers,brands,vendors,handymen etc made us zeroed on what we are building.

Explain your business model? How does it work?
End customers can upload any of there product with required details on our platform through our app.Once uploaded they can request any on demand request or resell etc on a tap. At the backend we have our backend supply as a mix of brands,vendors and handymen’s basis use case and other variables. We manage the overall fulfillment bit through our in-house platform that caters use case specific workflows to be used by end executioners. Our revenue source is the commission we get against these services from Brands,Vendors and Handymen’s.

Who is your biggest competitor? What steps are you taking for differentiation from the existing portals?
We don't have an exact parallel where consumers can manage overall product lifecycle. However in isolation for on demand services we have Urbanclap,HouseJoy,Zimmber to compete. Similarly for device mgmt we have Servify and B2X. For extended warranties etc we have OnsiteGo,Greendust etc.We have Jeeves,HandyHomes as handymen aggregator.

There is no rocket science that we have build. We pull up existing services and solve it differently from supply to demand while understanding nuances across each use case and solving it holistically. Making sure we add value to the overall quality and experience of services still making it affordable for end customers. In a nutshell we mechanize,automate,train existing workflows or systems with a bottom up approach driven through technology.

What is the funding status and monetization model?
Bootstrapped . Every service has a specific commission percent : more we serve we better our chances to survive.

What are your future plans?
We want to stick to a specific category and want to solve it length to breadth from B2C to B2B. From expansion standpoint we will have pan India operations in 3 months.

How do you look at expansion?
We are Live in Mumbai,Bangalore,Hyderabad,Delhi NCR,Chennai as of now. We are also critically evaluating overseas expansion.

What are the challenges you are facing right now?
Multiple challenges. From having a consistent demand channel to delivering a predictable quality of service to getting the right skilled persons to working across existing bureaucracies. We have all the luxuries that keeps us excited and on our toes.

What is market size and how much of the market share has Servurance captured?
The overall after sales services market is close to USD 10 Billion. We are too nascent to take a pie as of now.Though a 5 year plan is to take a 10% cut.