NEW DELHI: CarZ, a multi-brand car repair and maintenance services firm, said on Friday that it aims to open 20 new centres by the end of this year and then expand aggressively from next year to reach 800 cities and towns by 2025. To fuel the growth, the 12-year old Hyderabad-based firm is planning on raising funding during the month of September-October this year.
“We are in talks with potential investors to raise new funds by September-October. Right now we have a strong presence in Southern India. We are receiving a lot of demand from other states and neighbouring countries. Most of the new centres will be ‘Franchisee Owned Franchise Operated’,” said Venu Donepudi, founder and MD, CarZ.
The company had previously raised capital of $5 million in 2011 and an undisclosed amount in 2017. In recent years, CarZ has increased focus on Franchisee model to expand its presence and converted its 10 company owned centres to franchisee stores.
Donepudi said they are also in talks with strategic partners to open small centres on the premises of petrol pumps. “Our USP is three things- great service, budget price and central location. We provide quality services of a dealership showroom at prices 30-50 per cent lower,” Donepudi said.