Less than a year in operation for this Kiwi owned and operated startup and already it's taking on global brands in the delivery services and digital marketplace arena.
LazyAz began as a 17-year-old’s spark of an idea that rapidly grew into a surging business with over 6,000 app users to date taking advantage of the application-based marketplace and delivery service to access local stores and eateries and within-the-hour delivery anywhere in the Auckland CBD.
According to founder, Aryaman Taore, the venture was self-funded on a modest $1,750 of initial capital, which was made up of Taore’s personal savings and contributions from his parents.
A hugely successful crowdfunding campaign in late 2016 saw LazyAz raise $240,000 in equity capital to develop and implement its strategic growth plan, with the aim to grow its user base Auckland, then to expand to Wellington, Christchurch, Hamilton and Dunedin.
“There’s a gap in the market and LazyAz is filling it,” says Taore.
“Consumers are thirsty for on demand services where they can order online and enjoy rapid delivery. They want to support a Kiwi-owned marketplace and delivery service that is on par with the world’s best.”
LazyAz has just launched a new update integrating its retail partners’ menus and stock lists directly into the interface, which means customers no longer need to search for products or pricing on a third-party website - they can now order food, flowers, gifts, groceries, clothing and services for most retail partners directly through the app.
The company has thus far established more than 150 retail partnerships with companies including Sal’s Pizza, Habitual Fix and Pita Pit, alongside many locally owned stores.
Services aside from the traditional include picking up forgotten items, collecting dry cleaning, delivering parcels and documents, and dropping off items for repair.
“We are focused on doing two things extremely well: understanding how people live today and doing everything we can to make their life easier and more convenient,” says Taore.
The company is ramping up for a two-stage fundraising campaign in late 2017 to raise further capital for its expansion, beginning with a small-internal bridging round that individuals can be a part of, before running another larger scale crowdfunding campaign.
In terms of the company’s revenue, around 40 percent is derived from app users (delivery charge and commission on sales) and the remaining 60 percent from acting as a third-party delivery service for LazyAz’s partners.
Additional revenue comes from interest on payments, and advertising revenue from both the app and the delivery vehicles.
“LazyAz's model supports local businesses by providing them with an online platform and delivery service which helps increase sales and allows them to compete with global companies,” says Taore.
“I’m proud to be a Kiwi business owner supporting other small businesses, and employing almost 50 local drivers.”