Can you provide an overview of Torque360’s mission?
Torque360 is a management software tailor-made for auto repair businesses. Our main goal is to help businessmen run automotive businesses.
With the help of Torque360, they can easily create ROs, generate estimates, collect payments, appoint schedules, and provide excellent customer service. It’s all about simplifying operations and helping these businesses thrive.
What inspired the creation of Torque360?
During my time as the Chief Operating Officer at RepairDesk, I observed the challenges that small auto-repair shops encounter when searching for efficient management tools. To simplify their operations and assist underrepresented segments of the industry, I conceptualized Torque360, a comprehensive shop management solution. It is specifically designed to address the distinct hurdles faced by auto-repair shop owners and enhance their overall efficiency.
What’s one of your startup’s most impressive accomplishments?
One of our proudest moments was achieving a 40% reduction in repair time with our software. We recognized that most auto-repair businesses are small to medium-sized and often lack affordable, high-quality software. Torque360 fills that gap by providing a comprehensive solution that boosts efficiency and elevates industry standards.
How does this startup benefit service providers and vehicle owners?
Our software will help people to effectively run their auto repair business. Presently, approximately 65% of all auto-repair businesses consist of small and medium-sized shops, which often lack access to cost-effective yet high-quality all-in-one software to support their business growth.
Torque360 streamlines operations for both auto-repair shop proprietors and service providers through a user-friendly software platform. This encompasses features like appointment management, inventory tracking, payment processing, facilitating customer interactions, and more. These vital components integrated into our software empower service providers to efficiently manage their daily tasks, improve customer interactions, and stimulate business growth.
What are your competitors and how do you claim that your platform is better?
Our platform sets itself apart from competitors like Mitchell1, ShopWare, shopmonkey, AutoLeap, and AutoFluent through its affordability, user-friendliness, 24/6 customer support, built-in CRM system, seamless data migration, review management tools, robust accounting features, and a range of unique widgets that competitors lack such as Advanced Digital Vehicle Inspections, Custom Inspection Templates, Purchase Order Management, Invoice Editor, Quick Checkout/Counter Sale, Nexpart integration, and Campaigner for launching effective marketing campaigns.
What are the key reasons driving the creation of this startup?
The creation of this startup is underpinned by several compelling factors. Notably, the successful raising of $150 million in investments by competitors within the past two years serves as a resounding validation of the market’s potential and attractiveness. Additionally, our commitment has been fortified by the support of over 200 dedicated California-based customers, hailing from the tire and wheel as well as auto repair sectors. Looking ahead, we are strategically poised for further growth with plans for a next round of fundraising scheduled for July 2024, aligning perfectly with the rising demand in the market. Moreover, the global auto repair market is expected to reach $1,200 billion by 2028. This will create a lot of opportunities for us. Lastly, our team already has a successful track record from previous startups in the repair industry such as repair desk. This has given us enough experience to deal the challenges with this startup.
What are your future plans with Torque360?
We want to bring more innovation to the auto repair industry with the help of our saas based solutions. We are also planning to take our software to the global level. In the future, we want Torque360 to play a pivotal role in shaping the future of the automotive industry.
Is your platform designed to comprehensively address all segments of the automobile repair industry, given its vast scope?
Certainly, Torque360 is designed to serve a wide range of services in the automobile repair industry. It serves a variety of needs within the industry, including auto repair, RV repair, motorcycle repair, truck repair, small engine repair, and specific services such as auto detailing, wrapping, tire services, wheel services, and quick lubes. This extensive range ensures that businesses of various kinds within the industry can fully utilize its capabilities.
