Urban Company is a home-based digital platform that provides a range of services. Abhiraj Bhal, Raghav Chandra, and Varun Khaitan are the brains behind this startup. Urban Company is a platform that facilitates the connection between knowledgeable and experienced experts and individuals seeking particular services. Once on the platform, experts who meet the users’ specifications and are available on the specified date and time are found by our matchmaking algorithm.
Its goal is to offer consumers genuine services at reasonable prices. The organization has an excellent business plan allows it to facilitate these home services and oversee the procedures. Its model guarantees that service users and qualified specialists are connected.
Urban Company Details
| Company Name | Urban Company (formerly UrbanClap) |
| Origin Country | India |
| Founded | 2014 |
| Founders | Abhiraj Bhal, Raghav Chandra, Varun Khaitan |
| CEO | Abhiraj Bhal |
| Headquarters | Gurugram, Haryana, India |
| Industry | Home Services, Online Marketplace |
| Key Offerings | Home Services, including Cleaning, Beauty, Repairs, Fitness, and more |
| Number of Employees | Over 10,000 (as of last update) |
| Official Website | www.urbancompany.com |
How Does Urban Company Operate?
Our platform allows Clients to schedule appointments for services like massage therapy, hair styling, facials, carpentry, plumbing, painting, and appliance repair. These services are provided at a time and at the convenience of their home. They collaborate closely with our carefully chosen service partners, who provide them with technology, brand, insurance, financing, tools, and training.
The Urban Company has two primary and crucial resources. Their official website is the first. The other is their app, which works with both iOS and Android. Similar technologies are used to create the resources. These aid in lead generating, marketing, and improving consumer knowledge for the business.
Business Model of Urban Company
The Urban Company’s business plan is clear-cut and uncomplicated. This aims to link the clients with the services they need at home. The business assists you in hiring beauticians, personal trainers, instructors, electricians, photographers, plumbers, and many more professionals.
This is a full-stack startup that matches people automatically using algorithms. The company guarantees public safety to increase the platform’s trustworthiness. The business verifies all service providers with the police and does background checks. The Urban Company’s dual business strategy is helping it expand and win over more clients.
The Two-Fold Urban Company Model
The Urban Company employs a dual strategy. This includes:
Fixed-Price Services
The software charges users whenever they utilize its services to hire a beautician, cleaner, or anybody else. It indicates that people use the app to pay for their services. The business deducts a certain commission from its income in this manner.
Services Offered Without Fixed Fees
Lead generation, as well as sponsored listing, are available. The corporation charges the experts for this. The business guarantees that customers will only be charged once they are happy with the services.
The service providers must first pay a fee to accept the customer’s request. The monetization will be worthwhile if the expert can meet the client’s needs and receive payment for their work.
As a result, the urban company has developed an effective business strategy for itself. It has started utilizing machine learning as well as artificial intelligence technologies. This aids the app in finding user trends and data insights. Ultimately, this aids the business in better understanding the needs of its clients.
How does Urban Company Make Money?
Three methods are used by the business to make money:
- Commissions: Through the app, people employ service providers. They cover the cost of the services when they use them. The company receives a commission from this payment.
- Reverse auction: In this scenario, a particular service provider requests that the business promote itself on the platform. The urban corporation charges the service provider money in return for the promotion.
- Ads or Commercials: The company’s platform displays ads from numerous large corporations and manufacturers. In return, the business receives payment.
Conclusion
In the market, The Urban Company has established a strong reputation for itself. Its straightforward but efficient planning made this possible. The company started off without creating a complicated business plan for itself, and it plans to stay that way. This concept draws in cleaners, yoga instructors, teachers, electricians, plus many more. With a smartphone, one may perform all this from the comfort of one’s home. The Urban Company’s business model aims to improve and expedite customer and service provider connectivity.
Meet Suhas Harshe, a financial advisor committed to assisting people and businesses in confidently understanding and managing the complexities of the financial world. Suhas has shared his knowledge on various topics like business, investment strategies, optimizing taxes, and promoting financial well-being through articles in InvestmentDose.com
