“We are leading the change in the way people get their car tyres changed or repaired. You no longer need to go to a tyre shop; we come to you at home or work, seven days a week.
We want you to come on board as a shareholder and be a part of this journey to provide better service, advice, and experience.”
John Shim and Steve McCarthy
Co-founders Road Runner
Road Runner Mobile Tyres is an Australian vehicle tyre service company. Its “hub and spoke” model consists of stores (“hubs”) and vans (“spokes”) that deliver a range of workshop and mobile tyre services.
The brick-and-mortar retailers that dominate the tyre industry sector have high overheads. Their customers also have to spend time and effort travelling to and from a tyre shop or mechanic to access required services.
In contrast, a mobile service is cheaper (at the cost of a van compared to the cost of a store) and thereby more scalable. It’s also more convenient for consumers.
- The Australian tyre industry is worth $5B, and acquisitions in the sector have been worth $50-350M
- Road Runner has been operating for eight years in Sydney, Melbourne, and Brisbane
- Road Runner has serviced 50,000 vehicles
- Road Runner is earning $3.4M in revenue
- Road Runner has margins above 50% compared to 30% for brick-and-mortar tyre shops
Road Runner is raising $2M through $1 ordinary shares. The company will use the funds to expand across Australia.