Urban Company has simplified our at-home services with its name. It has completely transformed the manner in which we utilize a range of services.
Previously, it was necessary for us to venture outside in order to avail ourselves of various services. However, thanks to Urban Company, we now have the convenience of enjoying these services within the comfort of our own homes. These services encompass a wide range of offerings such as beauty treatments, spa sessions, repair work, cleaning services, and much more.
The primary objective is to offer genuine and cost-effective services to the users. In order to facilitate these domestic services and oversee the operations, the company possesses an exceptional business model. This model guarantees the connection between proficient experts and service users.
Urban Company’s business model is characterized by meticulous planning, effective management, and well-crafted business strategies. These factors have played a pivotal role in propelling the company to the forefront of the startup ecosystem, making it one of the most sought-after ventures in the industry.
Urban Company – Latest News
On January 20, 2022, Urban Company introduced a new service of video medical consultations with a specific focus on skincare. This Gurgaon-based hyperlocal services unicorn has collaborated with dermatologists to provide complimentary medical consultations for women dealing with hair and skin concerns.
About Urban Company
Established in November 2014, the Urban Company is a home services company that aims to bridge the gap between local services and technology. By leveraging technology, it provides customers with the convenience of accessing their required services right at their doorstep.
Founders and Team
The masterminds behind this startup are Varun Khaitan, Abhiraj Bhal and, Raghav Chandra. They co-founded the company with an early-stage budget of 10 lacs.
Varun Khaitan
Varun Khaitan, an alumnus of IIT Kanpur, obtained his Btech degree in Electrical Engineering before embarking on a professional journey at Qualcomm as an Engineer. Subsequently, Khaitan transitioned to The Boston Consulting Group, where he held positions as an Associate and a Consultant. Following his tenure of over two and a half years, Khaitan decided to part ways with the company and ventured into entrepreneurship by co-founding Urban Company.
Abhiraj Singh Bhal
Abhiraj Bhal, one of the co-founders of Urban Company, also possesses a background in Engineering, specifically in Electrical Engineering from IIT Kanpur, similar to the previous co-founder. Following his graduation, Abhiraj pursued an MBA in Business Administration from IIM Ahmedabad. Initially, he embarked on his professional journey as a Consultant at The Boston Consulting Group, where he dedicated three years to this role before co-founding Urban Company.
Raghav Chandra
Raghav Chandra, one of the co-founders of Urban Company, embarked on his entrepreneurial journey after working as a Software Engineer at Twitter. Prior to founding Urban Company, Raghav also established another venture called Buggi. Alongside his professional experiences, Raghav has gained valuable insights through internships at various esteemed companies such as Roamware, Infosys SETLabs, UC Berkeley, and Yelp Inc. These internships followed his successful completion of a BS in Computer Science and Engineering from the University of California, Berkeley.
Urban Company boasts of having a team of 40,000+ trained professionals.
Operating Areas
Founded in 2014, The Urban Company is the leading provider of at-home services in India and the UAE. With operations in Dubai, Abu Dhabi, Sydney, Singapore, and fourteen cities across India, the company has established itself as the largest in its industry.
Services and Audience
The Urban Company provides almost 100 services now. These include beauty, grooming, cleaning, repairs, home educators, fitness trainers more.
This new-age startup has a solution for almost all our services with one click. These various services have enabled the company to have a broad audience overall.
The main idea of the startup was to enable people to hire any service from the comfort of their homes. Indeed it is doing a great job doing it and has shown amazing growth alongside.
The Urban Company has made a big name for itself in the service industry. It has developed an amazing amount of reliability among the customers.
By looking at all this, a few questions come to our minds. For example- How a startup that started with a mere 10 lacs grow so much? In this uncertain era, how are people even trusting the platform?
All such questions have a simple answer. It is the company’s simple yet super-effective business model backed by huge investments.
The company has presently launched another service where it would be offering free medical consultation, focusing on the hair and skin problems of the women. As per the reports dated January 21, 2022, Urban Company has already onboarded some dermatologists to play free medical counseling in a few Indian cities. Renowned cosmologist Dr Amit Karkhanis has been roped in by Urban Company to head its medical team.
Business Model of Urban Company
The Urban Company has a straightforward and simple business model. This is to connect the customers with their required services at home. The company helps you to bring in beauticians, fitness trainers, educators, electricians, plumbers, photographers, and many more.
It is a full-stack startup that uses algorithms for automated matchmaking. To make the platform more trustworthy, the company ensures public safety. The company performs background checks and also police verification of all the service providers.
The Urban Company is growing and gaining customers’ trust with its two-fold business model.
Also Read:-NoBroker Hyderabad Customer Review
The Two-Fold Model of Urban Company
The Urban Company works on a two-fold model. This involves:
Services with Fixed Charge
Whenever, a person uses the services of hiring a beautician, cleaner, or anything, they get charged from the app. It means they pay for the availed services through the app.
In this way, the company takes a fixed commission from this revenue.
Services without the Fixed Charges
There is a lead generation and sponsored listing. For this, the company charges the experts. The company makes sure that the users do not have to pay till they are satisfied with the services.
There is a process. In this, at first, the service providers have to pay a fee to accept the customer’s request. If the professional can satisfy the user and get paid for the services then the monetization will be worth it.
Therefore, the urban company has created a successful business model for itself. It has begun to use the technology of Artificial Intelligence and Machine Learning. This helps the app to discover data insights and patterns of the users. This after all helps the company to know its customer’s needs better.
Also Read:-NoBroker Hyderabad Customer Review
How does Urban Company Make Money?
There are three ways of how the company generates its money:
Commissions
The users hire the service providers from the app. When they utilize the services, they pay for them. From this payment, the company gets a commission.
Reverse auction
In this, a particular service provider asks the company for its promotion on the platform. In exchange for the promotion, the urban company charges money from the service provider.
Ads or Commercials
Various big businesses, and manufacturers run their ads on the company’s platform. The company thus gets a fee in exchange for this.
What are the Main Resources of Urban Company?
There are two main and most important resources of the Urban Company. The first is their official website. The second is their application which is available for both Android and iOS.
The resources are made with similar technologies. These help the company in lead generation, promotions, and knowing the customers better.
Conclusion
The Urban Company has established a significant reputation in the market, primarily due to its straightforward yet impactful strategy. Right from the start, the company opted for a simple business model, and it aims to maintain this approach moving forward.
This particular model facilitates the recruitment of cleaners, yoga instructors, educators, electricians, and various other professionals. Individuals can conveniently engage in these services from the comfort of their own homes using their smartphones.
The Urban Company’s business model aims to make the connectivity between customers and service providers faster and more efficient.
FAQ
What is the business model of UrbanClap?
Urban Clap connects users or service seekers to service providers for daily services.
How does an urban Company make money?
Urban Company makes money by commissions. They charge a small percentage of the total price of the service to the business owner.
What type of company is the Urban company?
Urban Company is a home services company.