Bike-care startup, Express Bike Works (EBW), will open another 70 stores in India this year. It launched its 31st store in Mumbai within the IndianOil Corporation Ltd’s pump at Deonar today.
EBW has a presence across six countries – Nepal, Indonesia, Thailand, Rwanda and Colombia, apart from India – and intends to touch the 100-store mark by the end of 2017.
“We will be opening another 70 stores this year,” Niraj Taksande, co-founder of EBW said.
The latest store offers full-fledged services, including 2-minute automated motorcycle wash, detailing, health check-up, express maintenance and 24x7 on-road assistance.
“India has close to 52,000 petrol pumps with IOCL and HPCL. This association has given us a much-needed boost to sign up and set up a store in the least time.
Location being a major asset in the retail business, petrol pumps provide us enough traction for an early store breakeven,” Taksande added.
EBW is a brand of Mumbai-based engineering technology start-up Entropy Innovation, which was started in 2013 by a team of IIT and IIM alumni. Entropy manufactures automatic motorcycle wash machines, which are capable of washing a motorcycle in 2-5 minutes.
The company, in which iconic global fund manager Mark Mobius had invested and profitably exited, has so far serviced more than 2.5-lakh bikes and saved over 12.53 million litres of water.