Rajiv Vij
Managing Director & CEO, Carzonrent India Pvt Ltd.
Radio taxis are ubiquitous in India now. And the man who first brought them in is Rajiv Vij, whose eight-year-old firm Carzonrent, runs a fleet of 1,400 Easycabs across the country today.
oming from a fairly modest background, he worked his way up the corporate ladder, going on to serve as marketing head at Hindustan Motors.
The seeds of his own venture were sown when he was with ITC's International Travel House as head of its car rental business.
Got to know car rental companies like Dollar,Europcar and Avis and radio taxi companies like Smart Cabs and Comfort Cabs, and studied their operating systems and challenges.
Realizing that the time was right for India's car rental industry to boom, he launched Carzonrent (India) Pvt Ltd in Sep 2001 with an initial investment of Rs 2 crore (of which Rs 30 lakh were his own while the rest were borrowings from banks) and a fleet of 38 cars.
Did business worth Rs 30 lakh in the fist month. Soon after,his company was appointed as a master licensee for Hertz in India.In six months it turned profitable.
Radio taxis were next in line and in June 2006, Carzonrent entered the business with a trial run of 25 taxis in Chandigarh."The reason for choosing Chandigarh as a launch pad was that it never had a meter taxi service and it's a much smaller city as compared to the metros, which in a way was appropriate for testing our business model,"saysVij.
Encouraged by the results, Easycabs were launched in Delhi NCR in January 2007 with an initial investment of Rs 15 crore and a fleet size of 250 cars. Last year, it expanded its fleet by adding 750 Mahindra Renault Logans.
Now with a fleet of 1,400 cars Easycabs operates in Delhi, Hyderabad, Bangalore and Chandigarh, and has corporate clients such as Infosys, Microsoft, Nokia, and ISB, among others.
In nearly two years of operation the company has received investments to the tune of Rs 85 crore and it does Rs 4 crore worth business every month.
He plans to grow the Easycabs fleet to 3,000 and start in Mumbai and Chennai as well. From driving an ambassador—his first car—to a BMW now, Vij sure has covered a lot of ground.