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Old 15th March 2016, 11:39   #1
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Default Trringo.com - Mahindra to rent out tractors & farm equipment



Mahindra has announced its entry in the tractor and farm equipment rental market, with the launch of Trringo. It is a service offered to farmers of the country which would make tractors and farm equipment more accessible, operated on a franchisee based model. The farmers will be charged based on their usage.

Trringo is a technology driven model, using a digital platform to process orders and pass them to the nearest franchisee. It provides service through a dedicated mobile application as well as a toll-free number. A franchisee could also tie-up with tractor owners in the vicinity enabling them to rent out equipment to farmers on a commission basis.

A second C2C business model has been introduced too, wherein farmers who own expensive, high-end equipment have the option of renting out their assets, based on seasonal demand, geographies etc. The asset owners and users can connect with each other through the mobile app.

The tractor and farm equipment rental market is currently valued at about Rs. 15,000 crore annually. With Trringo's organized rental business model for farm equipment, Mahindra aims to penetrate this lucrative sector. Operations will begin in June 2016 and will scale up to 5 states by August 2016.

Trringo.com - Mahindra to rent out tractors & farm equipment-launch-trringo.jpg

Last edited by GTO : 15th March 2016 at 12:24. Reason: Adding video
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Old 16th March 2016, 09:54   #2
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

Brilliant way to expand its tractor business. It's akin to Dell starting computer rentals or Toyota renting out Innovas through a sister concern. Tractor sales have gotten sluggish and this is a sure shot way of adding volumes.

Best part is, Mahindra is going to invest merely 10 crore rupees into Trringo. That's like pocket money for the company's management. In return, the Mahindra Group will make $$$ from tractor sales, franchise fees & a cut of rental earnings. They're open to private equity funding too, so if the venture flies, they'll see big bucks in valuation.

The rural sector is mindbogglingly huge and the recent Budgets have also been rural-friendly. If managed well, Trringo has potential. Most of all, I'm really happy for the small farmer who couldn't otherwise afford a tractor. Just like Uber has made Innovas more accessible, and Zoom Car made Honda Citys / XUV500s / luxury cars available to the middle class, Trringo can let farmers use tractors & agricultural equipment for a fraction of the actual ownership cost.

I like how Mahindra is starting small - 1 State right now, another 4 later this year. Evidently, they are going to learn, fine-tune the business model and expand.
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Old 16th March 2016, 10:05   #3
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

I think this is a commendable move towards empowering the farm men through the use of technology. With Mobile penetration deepening by the day, they are leveraging the right tool to simplify the lives of farmers & help provide solutions at the ground level.

Goes a long way in building trust with the rural population & consequently garner more sales.

M&M has been a visionary in a lot of areas of the businesses they play in and this seems to be an initiative in similar lines, brought in at the right time.
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Old 17th March 2016, 09:28   #4
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

Asset-light models leading the way!
Brilliant idea.
The tractor is not the most utilitarian "vehicle" which will be brought by the farmer as he cannot ferry his family, it is not the most favorable transport for transporting goods and locks away money in something which will be useful in the harvesting and sowing season. (Pardon my ignorance if I may come from a very urban mindset about tractors)

Hope they don't have a "Surge" pricing as the demand will only come in the harvesting and sowing season!
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Old 17th March 2016, 14:03   #5
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

Good Move by mahindra. There are many tractors and farming equipment getting rest in villages. All associations purchase them using government money and the use is once or twice in an year. Instead of that renting will be the best option and will be a space saver too. As said they should not change the business model as car renting models on demand price.
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Old 19th March 2016, 08:55   #6
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

With demands being seasonal, wondering how mahindra will manage demand and supply. A nice scheduling backend infra would mean success though.
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Old 19th March 2016, 10:38   #7
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

Quote:
Originally Posted by turbospooler View Post
Asset-light models leading the way!
Brilliant idea.
The tractor is not the most utilitarian "vehicle" which will be brought by the farmer as he cannot ferry his family, it is not the most favorable transport for transporting goods and locks away money in something which will be useful in the harvesting and sowing season. (Pardon my ignorance if I may come from a very urban mindset about tractors)
Gone are the days of land tilling manually. These are mechanised through the tractors. More so, many of the farmers lease tractors to till the land. There is good money in this business & is viable too.

Trailers attached to the tractors are predominantly used to transport anything that you can think of.

More to add, the add on accessories used for farming gets integrated to the tractor chassis, making it a one stop shop for any farming needs.
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Old 21st October 2016, 08:45   #8
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

Trringo starts operations in Maharashtra.

Quote:
• Sets up custom hiring centers for tractors and farm equipment for villages of Koregaon and Karad talukas of district Satara in Maharashtra

• TRRINGO to facilitate hiring of tractors and farm implements directly to farmers

• To set up 16 custom hiring centers across Maharashtra

Mumbai, October 20, 2016: Mahindra’s Farm Equipment Sector (FES), a part of the $17.8 billion Mahindra Group, today announced the launch of TRRINGO in the state of Maharashtra with the inauguration of the first 2 hubs for in the state.

The newly launched hubs will be located in Koregaon and Karad talukas of district Satara in Maharashtra.

"The villages of Karad and Koregaon talukas have high density of small and marginal farmers, resulting in low mechanization and poor farm productivity. The launch of TRRINGO in this region will help address these challenges.Maharashtra is an important market for us and going forward our aim is to expand our operations by setting up similar key hubs in Gujarat, Madhya Pradesh and Rajasthan, other than Karnataka where we already have a presence” - Arvind Kumar, CEO - TRRINGO.

The name TRRINGO is short for “Ab Tractor Call Karo”- A call to ‘1860 266266 8’, (the toll free number) connects the farmer to the TRRINGO call center. According to his requirements appropriate services are provided through the nearest available tractor and equipment.

TRRINGO provides a unique business model based on franchisees where a rural businessman will invest in 5 tractors and equipment suitable for major crops of that area and set up a hub or center for operations. In addition to this, farmers can also access the service through business hubs at select Mahindra auto and tractor dealerships and existing Samriddhi centers.
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Old 3rd November 2016, 01:35   #9
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Default Re: Trringo.com - Mahindra to rent out tractors & farm equipment

First off I wonder why this model would work if banks lend money for vehicles without much hesitance . In the commercial vehicle industry you can buy any kind of truck within a matter of week or two because the vehicle is the collateral.

I wonder why farmers can't access equipment if the bank has not much to lose. I guess Trringo will appeal to farmers who can't even pay interest or struggle to in ordinary circumstances.
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