Personal delivery service LazyAz is using AlphaCrowd’s equity crowd-funding platform to expand services to the rest of the country.
LazyAz founder Aryaman Taore recently turned down a place at Harvard University to take full control of the business. Taore, who is studying engineering at Auckland University as well as running the business, said he had always been business-minded.
“I really wanted to create my own startup when I was 13. I said I would do it at 16, but it started at 17 – it was always something I wanted to do.”
Customers use LazyAz’s app to order products from a range of retailers and food outlets, which the company then delivers.
Indian-born Taore, who immigrated to New Zealand with his family at age six, said initially his family and friends didn’t think much of his business idea. “In all, the usual word I got was a ‘dumb idea’,” he said.
The startup has been on the market for three months and receives roughly 20 to 25 orders per day.
“Since we’ve launched we’re about 75 to 80 per cent in terms of breaking even already. By the end of this year we will be profitable and that will allow us to expand to other areas from the start of next year,” he said.
Taore kicked off the business with $1000 savings and a $750 “investment” from his parents.
The business delivers a range of items – predominantly food – but goods range from flowers to makeup and are delivered by scooters and cars. The company has three to four deliverers working at any one time.
“Initially it took time to grow traction but now what we’re seeing is we’ve got about 1500 loyal customers with us that are ordering once every week, once every two days even.”
LazyAz is hoping to raise from $75,000 to $200,000, and had raised $76,000 after just one day into the 21-day campaign.
Source: The Daily Post