At Recharge.city, we specialize in installing stations for portable chargers in various establishments, from bars and restaurants to malls and even airports. Due to our know-how, access to power bank sharing experts, and high demand in NYC, we were able to outperform all competitors in the North American market. Our vending machines are very familiar settings, but we've introduced an idea people hadn't considered.
After securing over 1000 locations in New York and witnessing rapid growth in repeat rentals, we're convinced — it works exceptionally well. And it's not just the users charging their smartphones on the go who benefit, but also small businesses who generate more revenue due to people visiting them to charge their phones.
Now, we aim not only to independently install stations in every state and venue but also to rapidly scale through franchise sales and leasing our software out — SaaS model.
Life resides in smartphones! Let's admit it, we've all faced unpleasant moments when our smartphones died at the most inconvenient times away from home. Perhaps it was during a crucial work discussion, calling friends for a meetup, or dealing with a pressing issue involving loved ones that needed an immediate solution. And you didn't have your personal portable charger (power bank) with you for two simple reasons: it's a hassle to carry everywhere, and it needs charging at home along with a tangle of other unnecessary charging cables.
But those are just the obvious unpleasant scenarios. Now, consider the multitude of young bloggers and streamers who rely on smartphones to monetize their skills and talents, leading to increased battery drain due to active video recordings. The number of such individuals is growing each month. Everyone requires a charge and assurance — anytime, anywhere.
We enable device charging through efficient portable charger rentals at dedicated stations, ensuring people can charge their devices wherever they are in the city. No more worrying about the battery dying at the most inconvenient moment and scrambling to find an outlet.
Now, everyone can confidently leave home without fretting about whether their personal smartphone or power bank is charged. If the battery runs low or is about to, they spot a Recharge.city station, rent a portable charger, charge their devices on the go, and return the portable charger to any of our locations on the same or another convenient day.
Each rental costs between $5 to $10 per day. Currently, this business model runs smoothly and scales effortlessly, ensuring maximum confidence and stable returns for our investors.
Our catalog features several station types designed to blend seamlessly into any interior and easily recognizable from a distance. Plus, our portable chargers are always ready for use.
At present, we have over 1000 partners spread across New York City, with a significant portion situated in Manhattan, indicating a high level of trust. For cafes, restaurants, and bars, we offer the following advantages:
The portable chargers rental business model has proven immensely successful in the Chinese market. We've successfully adapted this model for the US market, taking into account both positive and negative practices.
ChargeSpot (operated by Inforich) is the largest portable charger sharing service in Japan, boasting a network of 20,000 stations across the country. In 2022, Inforich successfully went public in Japan, achieving a valuation of approximately $315 million. Over the past year, Inforich's market capitalization has surged by an impressive 140%, making it the most valuable publicly traded portable charger sharing company in the world, despite having only 20,000 stations. As of September 30th, 2023, ChargeSpot has generated $52 million in revenue. The success of ChargeSpot can be attributed to several key factors:
How did they do it?
ChargeSpot succeeded for two reasons:
At present, we are the fastest-growing company in the portable charger rental category in the USA and also one of the fastest-growing in the sharing category overall. In a relatively short period (9 months), we've acquired over 15,000 active users who provide over 3,000 monthly rentals.
Power Bank Rental Business is the new “Cash Cow”.
*CAGR - Compound Annual Growth Rate
XRESEARCH – Power Bank Rental Market 2022 – Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Market Size & Forecast 2030
We place enormous emphasis not only on our user apps but also on fostering long-term relationships with our partners. Additionally, we prioritize our current and prospective franchisees, as we plan to actively expand franchise sales across all states in the first quarter of 2024.
And we also built our business to operate in “partnership mode” from the beginning, with New York City becoming our first partner this summer. Our other unique features include:
We have a clear plan, a professional team (30+ employees), and vast experience gleaned from the New York market, enabling us to grow exponentially due to low competition and high product demand. And we want to embark on this journey together with you.
We collaborate with leading American university to understand what are the best locations for our stations and how to maximize our customer base. Our analysis uses geo coordinates of existing stations, revenue over time, population density and traffic to target the best location and maximize the revenue.
The reason behind launching franchise sales lies within our business model itself. One of the primary advantages we've successfully leveraged is the quick start-up and absence of hiring staff. We provide support at every stage, from station installation in establishments to achieving profitability. Furthermore, we offer all necessary training and marketing materials, allowing franchisees to approach the average revenue per station in NYC, which stands at $5,891. This means that achieving profitability within 5 months would require just 3 rentals per day for each station ($5 per rental). Success largely depends on the quality of establishments, and we've accounted for these nuances, outlining the benefits for owners across all categories of establishments earlier in our pitch.
Thanks to our unique methodology and collaborative efforts between sales, product, and marketing departments, installing stations in establishments of any type poses no challenge for us. Retaining them is equally feasible. According to our calculations, investing $9 million in Chicago to establish a critical mass of stations will yield approximately $35.6 million in revenue within a year and around $180 million within 5 years. These figures are transparent and form the backbone of our experience and business expansion model.
Recharge.city receives between 20% to 50% of the revenue from each franchisee. Moreover, as a SaaS company planning to lease out our proprietary technology software, we anticipate not only rapid exponential growth but also high diversification of business assets.