Teen turns down Harvard to focus on delivery service start-up
21 Oct, 2016
An 18-year-old Aucklander is seeking up to $200,000 in a share sale for his start-up after turning down a position at an Ivy League university.
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.”
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.
“I remember I was with my friend in a car and I explained to him the idea and he said ‘oh that’s the dumbest idea, what are you doing?’.
“I think a lot of people didn’t really understand where it could head, it was a very new concept but things have of course changed, luckily.”
The start up has been on the market for three months and receives roughly 20 to 25 orders per day. It is already on track to make profit.
“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 in to other areas from the start of next year,” he said.
“We initially only thought Auckland City would be the only place the concept would work but we’re getting a lot of demand from outside areas like the North Shore and East Auckland.”
Taore kicked the business off with $1,000 savings and a $750 “investment” from his parents.
“It took a lot of convincing. I said: ‘your going to be buying me a new phone at some point in time so why don’t you invest that same money in to this app?,” he said.
“They didn’t really believe in the idea even after giving me the money.”
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 anyone time.
The public response to the business had been good, Taore said.
“Initially it took time to grow traction but now what we’re seeing is we’ve got about 1,500 loyal customers with us that are ordering once every week, once every two days even.”
LazyAz is hoping to raise between $75,000 up to $200,000.
After just one day into the 21-day crowd funding campaign, Taore said there had already been between $43,000 and $45,000 in investment.
He said pledges have been from a mix of investors and the general public who wanted to be part of a brand.
“We’re based in the city in terms of where we are delivering right now and the idea is to take the money and nationally expand in to Wellington, Hamilton and other cities around, and also in Auckland in terms of other areas outside of the CBD,” he said.
“It’s a scale business and it’s only really profitable when you scale to a large number of orders so that’s what we’re really going to do with the money.”
The crowd-funded money would also be used to work on app technology, he said.
“The current app we have right now is very basic and we’re working on creating an app that is able to aggregate all the stores on it. What you could have is go on the app have your stores like KFC, Zara, or whatever it is – food, fashion, electronics – and have a catalogue where you can simply order.”
Taore said he had global ambitions for the business.
“New Zealand is a tiny aspect of it. New Zealand is where we do want to test the market, understand it and prove it. But really it’s about global expansion in to a lot of Asian and South American countries where population is very dense. There is no competitor out there and there isn’t going to be even in two to three years time so we want to go out there and establish a market.”
The app is free to download from Apple App Store.
˜ NZ Herald
LazyAz Founder Ditches Harvard Acceptance, Launches Crowdfunding Campaign Instead
Thursday, 20 October 2016 – Press Release: LazyAz
New Zealand company, LazyAz is looking to revolutionise retail with its application based on-demand delivery service that connects with brick and mortar shops. They are seeking to raise between $75,000 and $200,000 from the sale of shares. The offer is being made through AlphaCrowd’s equity crowd funding platform.
Founder Aryaman Taore was just 17 years old when he developed the first version of the LazyAz mobile app. Aryaman, now 18, who recently finished Botany Downs Secondary College, came up with the idea when he was craving a fast-food burger but neither he nor the restaurant had transport. This craving launched a sequence of events that resulted in him developing his first mobile app with $1000 in savings and a $750 contribution from his parents.
Off the back of some self-launched publicity and PR, Aryaman fielded multiple offers for first-round investors. He decided to join forces with Toss Grumley, Director of Wolf and Fox. Toss became the company’s first investor and provided seed investment for LazyAz as well as mentoring and resources to grow the business.
“I was intrigued by what I read about Aryaman,” said Toss. “But after our first meeting I was blown away, his vision, passion and preparedness isn’t something you see in a 17 year old very often. Eleven months on Aryaman is every bit the definition of entrepreneur.”
Aryaman recently turned down entry into the prestigious Harvard University in favour of launching his start up while studying engineering full time at the University of Auckland.
Aryaman evolved his initial craving into a fully operational business with 1500 customers on the data base, 20 partner stores around the Auckland CBD, and others rapidly signing on.
“The company’s evolution hasn’t just been by growth, but also our direction and business model,” said Aryaman. “After starting operations, we moved quickly to get past delivery as a standalone service, it was only the starting point for our overall business plan.”
The growth of the company’s business model is driven through their mobile app and online platform currently in build. It fully catalogues all partner products and services, creating a mobile aggregator to bridge the gap between e-commerce and in store retail. It combines the reliability and familiarity of local stores with the convenience of online shopping and within-the-hour delivery.
“We are so much more than a delivery service. We are creating a platform that local Kiwi stores can use to sell and consumers can use to buy. Our courier fleet simply acts as a medium to get products to the customer’s door, our business case goes far beyond that. Our model allows us to assist with retail sales in just about any industry while delivering additional revenue though advertising, commissions and fees,” added Aryaman.
“We recently ran a successful investor evening and were able to raise almost $40,000 in committed investments on the night,” added Toss.
Investments begin at $200 for asset class, ordinary shares and the first closing date is 10 November 2016.
About LazyAz
LazyAz is an application based home delivery service. It makes life easier by picking up what you order and delivering it wherever you are. Founded and led by young entrepreneur Aryaman Taore, the company continues to see sharp growth in customers, partners and valuation.
About AlphaCrowd
AlphaCrowd is the equity crowdfunding platform for digital and technology businesses. It recently closed a successful equity crowdfunding offer for The Module Project. It believes that Kiwi developers, engineers, inventors, scientists and visionaries should be supported locally in their global ambitions. Its industry focus makes it the premier crowdfunding platform for serious technology investors.
˜ Scoop Media
‘LazyAz’ available on the IOS & Android devices
Thursday, 23 June 2016 – Press Release: LazyAz
An app that delivers anything you want at your door step, now available on IOS and Android devices
Who says laziness is a bad thing?
Just ask the young Kiwi-Indian entrepreneur Aryaman Taore, 17, who developed a mobile service called LazyAz that delivers almost anything thing your heart desires at your doorstep, within an hour.
The concept is simple: users order anything they want on the LazyAz app or website – from a Big Mac to a MAC lipstick. The LazyAz team then finds out how much the item costs and quotes the price. Once the customer confirms the transaction, the LazyAz deliverers buy the item and deliver it to the customer’s door – all in less than an hour.
“I wanted to create a service that would connect the reliability of local shops with the convenience of delivery offered by online retailers. Steadily we are reaching that aim at LazyAz. With our growing user base and a variety of restaurants, pharmacies and florists are connecting with us, we are on track,” says Aryaman.
E-commerce tycoon Mr. Grumley has funded the teen’s aspirations, hoping it could “disrupt the delivery industry in New Zealand and Australia.” At the same time they are now looking to get new investors on board.
The service was launched on 20th of May in central Auckland. The response has been great with variety of orders coming through – “we have been picking up dry cleaning to delivering KFC. People are really using the service in ways we never thought possible,” says Aryaman. Currently, LazyAz offers delivery service within central Auckland including Wynyard Quarter, Ponsonby, Grafton and Parnell. However, the start-up plans to expand soon.
Kiwi ingenuity is becoming ever more apparent with young kiwi’s like Aryaman who are trying to create their own unique change.
LazyAz operates from 11am-8:30pm from Monday to Friday.
To learn more about the company or to download their app – visit lazyaz.co.nz
˜ Scoop Media