Ashay Deshmukh, Co-Founder at RentalFurniture.in

Great Companies: How did you get your idea or concept for the business?

Ashay Deshmukh: Looking for a temporary furniture arrangement for ourselves back in 2014, we drove across the length and breadth of Pune searching for good quality furniture on rent. We did find out a few who agreed to rent furniture. But when we looked at what was offered, i.e., used and damaged furniture, we smiled back and walked away. We searched for brand new sofas, beds, wardrobes and dining set on rent for a week and found none. It was impossible to convince any dealer to rent out their new sofas straight out of the showroom into our newly rented home.

That made us think. Can we work the numbers? Can we solve this problem of temporary ownership of furniture? Thus, RentalFurniture.in was born. We offer great furniture products on rent with plans to suit every customer, without the worry of ever owning it.

Great Companies: What are the various Services provided by RentalFurniture.in

Ashay Deshmukh: We primarily provide home furniture and appliances on rent. But honestly, we are in the business of providing peace of mind to each of our customers. We always strive to deliver products and service better than that is promised.

Great Companies: What makes RentalFurniture.in different from hundreds of other similar service providers?

Ashay Deshmukh:

Initially, we did take inspiration from some of the larger players in the rental furniture space. Also, there was a lack of standardization in the product offering by most of the organized and unorganized businesses. We started with focusing on providing standardized products which were brand new or as good as brand new and have maintained it even today. We have also focused on providing quick turnaround time from the time we receive an enquiry or the order until the delivery. We also focus on ensuring high efficiencies which enables us to provide great products at very competitive pricing, making us one of the lowest priced rental furniture service provider.

Great Companies: What are the struggles and challenges you face?

Ashay Deshmukh: Initially, we had our working capital challenges like any other startup. We have been bootstrapped from day 1 and did not have any support to put in any capital. Hence, we had to come up with a business model which supported our working capital requirements. We worked out many mathematical models and ensured it was implemented effectively.

In a post pandemic world, the challenges are going to be to stay nimble and flexible when it comes to serving real customers. Today's customers want great product, great service at an even better price. This makes us focus tremendously on our efficiencies and leverage technologies to maintain our margins.

Great Companies: How do you plan to grow in the future? What does 5 years down the line look like for RentalFurniture.in?

Ashay Deshmukh: We have definite plans to expand to Tier 1 cities in India while maintaining our lean business model and later replicate it internationally. Even within India, there is a huge vacuum which the large rental furniture service providers have not been able to fill in. We see that as a great opportunity and gain a major market share over the next 5 years. We see ourselves are being the number 1 brand for rental furniture service in India over next few years.

Great Companies: If you had one piece of advice to someone just starting out, what would it be?

Ashay Deshmukh: It is important to focus on one's strengths and build a business around it. I have met a lot of aspiring entrepreneurs asking for ideas to start a venture. I always tell them to look for problems and try and come up with solutions. It can be a good start if one can monetize the solution.

Website : https://rentalfurniture.in/

Facebook : https://www.facebook.com/rentalfurniture.in/

Instagram : https://www.instagram.com/rentalfurniture.in/