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Arindam Chaudhuri, Editor-in-Chief, 4Ps B&M Chief Consulting Editor's Desk
Rajita Chaudhuri
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DROOM
A SMASHING BUSINESS MODEL, 30000% GROWTH... WHAT’S NEXT?
Sandeep Aggarwal, founder Droom, has put his chips on this online automobile marketplace model; 4Ps B&M queries him on the current and future growth plans
 

How does your business model work?

Here’s the math – token amount is between 2-3% (depending upon the category) of the final selling price that is paid as advance money by the buyer on Droom’s online platform. Rest 98-97% of the final selling price is paid directly to the seller (100% final selling price = 2% token amount + 98% final value payment). It is fully refundable, no questions asked, under our buyer protection support.

Once the buyer pays the token amount, the listing gets deactivated and the buyer can meet the seller to test drive and inspect the vehicle before closing the transaction. In case of order cancellations, the token amount is processed within five business days of the cancellation. Droom is a completely performance based marketplace where you pay only when you sell. As a seller, you can have as many listings as you want and there is no need to pay any listing fee. The bare minimum requirement to list an item at Droom is possession of the item with valid ownership documents. You just need to tell us the “Make-Model-Year-Trim” of the vehicle and we will auto-create the listing for you in less than 10 seconds. We highly encourage sellers to upload latest and high quality pictures of the vehicle.

Droom provides three kinds of pricing formats “Fixed Price”, “Best Offer”, and “Auctions”. “Fixed Price” allows you to buy at a fixed price while “Best Offer” allows room for negotiation. “Auctions” allows buyers to bid on vehicles, which are subsequently sold to the highest bidder.  



          
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