Yulu Bikes eyes growth in non-metro towns with franchise model
shared mobility service provider Yulu Bikes is looking to increase its footprint in tier-2 and -3 cities through a franchise model.
CEO Amit Gupta told ET that the company is shifting focus to non-metro regions to drive revenue growth.
“Currently, we have a 45,000-strong vehicle fleet in the market, which we expect to cross 100,000 in this current year. Adopting a go-to-market strategy, we are looking at expanding our franchise business models with local who want to run Yulu service in their respective cities,” he said.
Gupta added that the startup aims to grow its shared-mobility market in the next few years, benefiting from the quick commerce boom in the country.
«Our franchise model has already been implemented in six cities, and in total, we anticipate having our presence in around 30 to 40 cities covering a wide range of use cases, from moving people to the quick commerce mode and beyond,” the CEO said.
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