startup with a headquarters in Gurugram Instead of spending a fortune purchasing furniture and appliances, one can own high-quality items through the leading brand CityFurnish by signing up for reasonable rental subscriptions. With regard to renting out appliances and furnishings, CityFurnish offers a huge selection of goods.
Furniture, home decor, consumer appliances, and exercise equipment are all available from CityFurnish as rental subscriptions. In addition to providing premium rental products for residential use, the business is expanding its footprint in the commercial and hospitality sectors.
The company’s goal is to lead the furniture rental industry in the nation. Currently, the company provides services in Delhi-NCR, Bengaluru, Mumbai, Pune, Gurgaon, Ghaziabad/Noida, and Hyderabad, with plans to shortly expand.
CityFurnish’s products are crafted in their own state of the art manufacturing facility based in Rajasthan and are thoughtfully designed to provide utmost comfort.
Founders
Neerav Jain (CEO) and Saurabh Gupta (CTO) are the foundersof CityFurnish.
Neerav Jain, the founder of CityFurnish, has made it his top priority to expand the company by strengthening the brand, leveraging its inherent strengths, and providing customers with a one-stop shop for all of their furniture and furnishing requirements.
The co-founder and CTO of CityFurnish, Saurabh Gupta, received his M.Tech from IIT Roorkee. He has ten years of expertise and previously worked for Vodafone and Amdocs before co-founding CityFurnish with Neerav Jain. Saurabh is an accomplished member of the technology industry with knowledge of digital marketing.
Currently, CityFurnish has a team of 100+ member across 7 cities.
The Journey
Neerav comes from a Jodhpur family of furniture manufacturers, so he had some knowledge of the industry. Neerav had a single thought that stayed with him until he finally founded CityFurnish: the lack of a substitute for spending a lot of money on furniture in the near term. To validate the concept, he and his staff interviewed more than 200 people. After receiving a favourable reaction, CityFurnish came to be.
Neerav wished to investigate the burgeoning renting market in India, primarily due to the rising number of salaried young people who frequently move and live far from their hometowns. Owning the required furniture, such as beds, sofas, and tables, makes it more difficult for these people to move around cities and strains their finances. Neerav worked on developing a platform for rented furniture to capitalize on such a neighborhood populace.
The Growth
In Gurugram, CityFurnish began with only 50 leases (or subscriptions). Since then, the start-up has expanded to 12,000+ active subscriptions in just three years, with locations in Hyderabad, Delhi-NCR, Bengaluru, Mumbai, Pune, and Gurgaon. In seven locations, it has also established 8 fulfillment centers. Furniture is available from CityFurnish for a minimal rental period of three months. To make it more reasonable for users over the long term, the monthly rental decreases as the tenure lengthens.
The Challenges
The furniture market is quite large in India. However, 90% of consumers favor offline furniture shopping due to a lack of confidence in the product’s quality, a significant obstacle for any start-up renting out furniture. But thanks to his family’s tradition in the industry and his expertise in the field, Neerav has been able to produce sophisticated, elegant, and high-quality furniture, giving CityFurnish customers a “superior experience”.
Offering white glove delivery entailed many operational challenges on the service end. However, CityFurnish could get around this by providing its installation and delivery staff with workshops and training.
Future Plans
Revenues are also improving as a result of more loyal clients. According to CityFurnish, its sales have reached an ARR of $3 million and are growing at a rate of 100% annually. Meanwhile, the number of subscribers is increasing by 20% month over month while attrition is only 3%.
