Founder & CEO
To earn some extra income, he started renting sound systems and party lights for small events and DJ parties. This was the first step towards his business venture. As the business started growing, Satish started renting Cameras and then Generators for Television Shoots to all the Major TV Broadcasters like Zee Television, Viacom18 Colors.
Eventually with the expansion of business, he perceived how the presence of middle men and the dependency of reporting /information of Generator usage and especially Diesel Consumption left scope for undue mark-ups in billing. This when he started thinking to minimize the dependency with the help of technology. With IoT Technology, he started monitoring the actual consumption of Hired Generators. "For the first time we used our IoT device to monitor Zee Television where Zee was able to save almost 30 per cent on their Generator Hiring Cost," mentions Satish. Hire Pay.
It provides an end to end solution for hiring industrial equipment via a simple and easy to use mobile application that gives users an estimate to generate an invoice for the exact time the equipment is used.
"We follow a two-side approach. For the vendors, we have created a benchmark for quality for which we give continuous training to our vendors and their equipment operators and educate them to maintain the same quality. Besides, we make equipment hiring processes simpler and easy to manage by continuously updating our mobile application for customers. Our target audience right now is TV Production Houses, Event Companies and soon we are expanding to Construction Companies where the use of generators is in huge numbers," says Satish.
The Growth over the Years
This journey of Hire Pay has been a roller coaster ride with a fair share of challenges and opportunities. "During my initial struggle period, very few believed in me but I understood the need and gap and knew there was a great potential of my idea. And after 5 years we have got clients like Zee Television and Viacom18 Colors and most importantly we are saving 20 to 30 per cent pilferage IoT based technology," he adds.
Speaking about the credibilities of the product, Shailesh Sawant, Vertical Head - Commercial, Zee Entertainment Enterprises Ltd. (Zee Television) signifies, “The product that we have supported will be a Game-Changer, driving multitude of benefits for the entire industry. The app is extremely useful in making equipment hiring simple, convenient and then makes consumption monitoring absolutely hassle-free."
The company has come a long way since its inception. In the first financial year, the turnover was 62.8 lakhs and 2.43 Crores (almost 260 per cent growth) in the second financial year.
"We started our business from Mumbai and we are soon expanding our business to Delhi and Jaipur by 2021. We have pre seed funding investor Mr. KS Mann who has supported our business at the initial stage. Our vision is to organize equipment Rental, which is one of the most Unorganized sectors of India with help of Technology. And we have started that change with Generator Rental, he concludes.