TradieSpec, a Sydney-based ute-hire startup, is set to open its doors in Brisbane and Melbourne after unrivalled demand for its tradie-friendly vehicle finance model.
In response to an unprecedented surge in demand for trade-ready vehicles over the past two years, TradieSpec, a Sydney-based ute-hire startup, is gearing up for an ambitious expansion plan. The company is set to open its doors in Brisbane and Melbourne in the latter half of 2023, riding the wave of success created by its innovative vehicle finance model tailored specifically for tradies.
TradieSpec, a trailblazer in the industry, introduced its one-of-a-kind trade-spec vehicle hire service in Sydney back in 2019. The company's unique offering includes a diverse range of premium, commercial, and trade-ready vehicles, all complemented by flexible rental options. TradieSpec’s popular Rent-To-Own service, bundles servicing, insurance, and registration into the monthly cost, a unique combination that has propelled the company to a period of rapid growth over the past year.
What sets TradieSpec apart is its ability to bridge a significant gap in the market, allowing tradies to acquire trade-specific vehicles without enduring the complex and often daunting credit application processes typical of traditional lenders. Banking data has shown a worrying trend, with lending to the business sector decreasing by 25% over the last three decades. A recent study revealed that 40% of small to medium enterprises have found securing business finance to be a "relatively difficult" task over the past decade.
Tim Cullen and Mathew Deeks, the co-founders of TradieSpec, saw the potential to offer a solution to the complex financial processes faced by tradies. Speaking to Business Daily Media, Cullen explained the company's growth and evolution, stating, "Initially, the business model was a medium-term rental business at a competitive price point just for Tradies. After repeated requests for an option to own the vehicle, we set out to build a product to suit."
The strategy has clearly paid off, with TradieSpec now boasting over 400 vehicles on hire across Australia, all driven by overwhelming support from customers.
Continuing to fuel the expansion, TradieSpec has secured $13 million in funding, with plans to double its fleet within the next year. Cullen elaborated on the significance of this funding, stating, "This funding will give us the firepower and runway to take our service nationwide."
Customer-centricity and reliability are the foundations of TradieSpec's purpose. The company exclusively offers premium commercial makes and models, catering to the Australian tradie's preference for reliability over affordability. Impressively, TradieSpec has maintained a flawless record, with no on-road vehicle breakdowns in its four years of operation.
The eagerly anticipated national expansion will see TradieSpec opening showrooms in Brisbane and Melbourne in the second half of this year, further solidifying the company's presence in the booming tradie ute market.
After spending years in the car rental and insurance space, TradieSpec co-founders Tim Cullen and Matthew Deeks noticed a considerable gap in the market for tradies who needed a trade-ready vehicle.
Determined to provide a reliable and effective service to tradies, the pair set out to develop a service that offered trade-specific Ute solutions for their businesses without the need to jump through the hoops from traditional lenders.
TradieSpec offers a variety of flexible vehicle rental and finance options, with trade spec fit-outs that are tailored to suit the needs of every customer.