Road Runner Mobile Tyres are excited to announce, they have become a licensee of “Tyre Right” and have opened their first location in Parramatta, NSW. This location will form the “hub” for Sydney where they will operate their mobile tyre service “spoke”. They are now able to offer to their customers both a workshop-based service as well as a mobile tyre service.
Having a “hub” in Parramatta enable them to cover the whole metropolitan area of Sydney with their mobile tyre service as shown in the picture below:
The “Hub and Spoke” model, will enable a far more efficient and cost-effective business model than a pure mobile tyre service nor a pure tyre retail outline. They have already seen the benefits of having a “hub” to operate the mobile business with the ability to offer our customers.
They are looking forward to announcing in the very near future their “hub” locations in Victoria, Queensland, ACT, Tasmania, Western Australia and South Australia.
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About Road Runner Mobile Tyres
Australia’s tyre market is worth over AUD $5 billion and is poised for significant growth. Recent high profile acquisitions of tyre retail outfits highlight the market value of the sector, such as the sale of Kmart Tyre & Auto by Wesfarmers to Continental Tyres for $350m in 2018. Still, traditional bricks and mortar retailers dominate the sector. These retail stores have significant overheads, and still require customers to travel to them for fittings.
In an age of convenience defined by disruptive services, Australia’s tyre market is ripe for disruption. And with demand for tyres ever-rising, purchasing factors such as choice, convenience and value for money are becoming paramount. This is especially timely in the wake of the COVID-19 pandemic, which has elevated the necessity for more socially distant services.
With all these factors combining in 2020, we believe Road Runner is uniquely placed to take advantage of market conditions and become a major player in the Australian tyre market, leveraging our mobile tyre-fitting service.
In the UK, a mobile tyre service company called Kwik Fit has been operating a mobile tyre service for nearly 10 years and has over 200 vans servicing their UK consumers. Road Runner is ready to emulate Kwik Fit’s success, evolving our business model to replicate the Kwik Fit model, whereby we have a tyre store as a “hub” and mobile service vans operating from this store as the “spokes” (“the hub and spoke model”).
To achieve this we are seeking to raise up to $2m and to increase our shareholder base to over 4,000. We believe shareholders are our best advocates, so we will be aiming to maximise the number of shareholders from this capital raising.