New Delhi [India] October 24: Balaji Mohan’s journey from a national-level car racer to a trailblazing entrepreneur is nothing short of inspiring. After making waves in the automotive service industry with DrWheelz, Balaji has now set his sights on transforming India’s used two-wheeler market with his latest venture, RoamPrime. A visionary at heart, Balaji is focused on introducing professionalism, trust, and convenience to a largely fragmented space. With his unique blend of hands-on automotive expertise and business acumen, he’s paving the way for a seamless buying experience, backed by comprehensive warranties, hassle-free ownership transfers, and top-notch post-purchase support.
What is the concept behind your new brand in the used two-wheeler space?
We’ve started RoamPrime as a pioneering full-stack platform that prioritizes buyer trust and convenience in India’s used two-wheeler market. Through our platform www.roamprime.in, we offer a seamless digital experience that includes vehicle warranties, hassle-free returns, smooth ownership transfers, comprehensive insurance, flexible payment options, and doorstep servicing. We’re essentially delivering a premium buying experience that surpasses rivals, or even that of purchasing a new vehicle.
What inspired you to pivot from car services to focus on used two-wheelers?
We identified a significant gap in the two-wheeler market, particularly considering how essential these vehicles are to millions of Indians. Despite their widespread use, the used bike market remained surprisingly unstructured. We saw an opportunity to introduce much-needed professionalism and transparency. My background in automotive services gave me the confidence that I could create meaningful change in this sector as well.
How does the used two-wheeler market differ from the car market, and what potential do you see?
We’re challenging the conventional wisdom that the used car market is superior to two-wheelers. Our full-stack two-wheeler model achieves impressive 22-26% gross margins with quick 15-18 day inventory turnover leading to a much better Return On Capital Employed (ROCE) even at lower ticket size compared to used cars models. This significantly outperforms the used car segment’s 10-12% margins and longer 40-45 day inventory cycle. Additionally, I’m seeing strong market growth driven by urbanization and increasing middle-class purchasing power, while the car market experiences post-COVID corrections.
What challenges have you faced in transitioning to the two-wheeler space?
While I thrive on the mechanical and operational aspects, understanding unique customer behaviors in the two-wheeler segment presented initial challenges. I’ve been fortunate to partner with Anmol Mahajan on this, an IIM graduate with extensive consumer business experience at companies like Godrej and Swiggy Instamart. We’ve also built a team with valuable expertise from companies like GoZoomo and Bikes24, enabling us to deliver customer-centric solutions with positive unit economics.
How does your experience with DrWheelz influence your approach to this venture?
I’ve applied key learnings from DrWheelz to address fundamental issues in the used two-wheeler market. We’re tackling problems like lack of transparency, inadequate inspections, and inconsistent pricing through our comprehensive approach. We offer certified bikes, transparent pricing, and robust warranty and financing options. The emphasis on trust and quality service remains central to our business model.
What innovations or unique services does your brand offer in the competitive used two-wheeler market?
We’ve positioned RoamPrime as one of the few comprehensive full-stack players in this space. Our key differentiator is our integrated end-to-end solution. We’re the only company offering customers the ability to complete their entire purchase journey from home, including post-purchase servicing at their doorstep. What’s particularly significant is that we’re achieving this while maintaining positive unit economics, setting the foundation for a sustainable, scalable business model.
How do you see the future of the two-wheeler industry in India, especially regarding electric vehicles?
I’m particularly excited about the EV revolution in the two-wheeler segment. We’re positioning RoamPrime to be the pioneer in structuring the secondary EV market. While we’re currently navigating challenges around EV standardization and OEM-dependent quality verification, we are already in advanced discussions with key EV manufacturers to establish preferred partnership agreements for secondary market operations. This will be a game-changer for the industry.
How does your experience as a national-level car racer influence your business approach?
My racing background has profoundly shaped my business philosophy. Racing taught me the critical importance of precision, split-second decision-making, and relentless pursuit of excellence. In the two-wheeler business, I apply these principles daily – whether it’s implementing rigorous quality inspection protocols or ensuring every customer interaction meets our high standards. The racing mindset of constant improvement and attention to detail drives our operational excellence.
What role does technology play in your venture?
We’ve made technology the cornerstone of our operations since day one. We’ve developed a sophisticated in-house platform that manages the entire customer journey seamlessly. I’m particularly proud of our upcoming innovation in integrating with transport authorities for quick ownership transfers and our intelligent inventory management system. These technological solutions enable us to optimize stock rotation and deliver an efficient, user-friendly experience.
What’s your five-year vision for RoamPrime?
I’m targeting market leadership in the secondary two-wheeler segment, with projected revenue exceeding INR 350Cr at a PAT-positive level. Beyond this, we plan to expand into used two-wheeler financing also, which I believe will develop into an equally substantial business line. We’re building RoamPrime to deliver exceptional returns for our investors while revolutionizing the industry.
Why choose a full-stack approach over a traditional marketplace model?
I firmly believe that the traditional marketplace model, while solving for digital discovery and inventory breadth, falls short in delivering standardized quality and comprehensive post-sale support. Our full-stack approach allows us to control the entire customer experience, ensuring consistent vehicle quality and superior after-sales service. This buyer-first model aligns perfectly with evolving customer expectations in the digital age. While others focused on supply-side solutions, we’ve built RoamPrime around the buyer’s needs, making supply an enabler rather than the primary focus. This approach is particularly relevant now, as customers are increasingly willing to pay a premium for enhanced trust and convenience.
For more Information Please Check: http://www.roamprime.in/
