In conversation with Franchise India, Murali Kumar B, Founder, NeoTrack shares his brand USP.
Please tell us about Neo track and its USP.
We started 2 years back and today, eighty five thousand parents are using our services. Neo track is like an intelligent person sitting in the bus that ensures the security of kids. Whether any kid gets off the bus at a wrong bus stop or forgets to de-board on the desired bus stop or even if the driver is crossing the speed limit or the driver has take an off route turn. In all such situations, the tracker will keep monitoring and alert the school correspondent, parents or guardians in a right way through SMS alert and app based alerts as well. We also have a live online tracking system to track the bus.
How will the tracker analyse the urgency of the problem?
We have integrated classifiers in the system, for example if the route is deviated and deviation is low, the tracker alerts the admin and if the deviation is high, then it alerts the parents also.
What are the investment criteria?
We expect Rs 10 lac as deposit. Having deposited Rs10 lac, we will hand over the complete system package. We expect marketing from the side of partners and front-end operations as well. There will be other charges, but in turn on that, we will be providing a share with 40 to 45 percent margin. ROI is very fast with one and half years of breakeven period. In a time span of 3 years, the franchise will have 244% of ROI. . An area of 300-400 sq ft is required, as we need a marketing person and an operation person to be employed by the franchise.
What are your expansion plans?
Currently we have 5 franchise partners in south India and we are about to open a franchise in Qatar. We are looking to expand in North India through franchising only. In another one or two year, we are planning to go pan India because we want our solution to be used by every parent in the country.