These Entrepreneurs Build One-Stop Online Store For Lab Equipment

The laboratory equipment and supply industry in India has been growing steadily over the past few years. As the demand for high-quality research and testing facilities increases, so does the need for advanced laboratory equipment and supplies. One of the keyfactors driving growth in this industry is the increasing number of research and development (R&D) activities being carried out bythegovernmentandprivateorganisations.TheseR&Dactivitiesrequiresophisticatedlaboratoryequipmentandsuppliestoensureaccuratetestingandanalysis.

The market for laboratory supplies and equipment is estimated to be worth between $4 billion to $5 billion. There arenumerousparticipantsinthisunorganisedmarket,allcompetingtosatisfyIndia'srisingdemandforhigh-qualitylaboratorysuppliesand equipment. But in India, there isn't a one-stop shop that provides a data-driven and transparent approach for purchasinglaboratoryequipmentandsuppliesthroughanonlineportal.

Toaddressthisproblemstatement,KarlWyzenbeek,whohas20years’experienceintheAustralianScientificmarketlaidtheearlyfoundations of LabFriend across the Asia Pacific Region. After the success of LabFriend in Australia, Singapore and other ASEANnations,KarllookedtoincreasethefootprintofLabFriendtoAsia’sfastest-growingmarket:India.KarlreachedouttohisoldbusinesscolleaguesNilayandRachitanddecideditwastimetolaunchthee-commerceplatformintheIndianmarket.

WhatisLabFriend?

LabFriendis the fastest growing online laboratory equipment and scientific supply store.Ithasamassiveinventoryofhigh-qualityequipmentandaccessoriesthatcanbeaccessedthroughasimple,unique&user-friendlyplatform.

LabFriend is the go-to destination for scientists, researchers, QC professionals and R&D centres in India. It has 75,000 productsfrom430Europeanbrandslistedonitsplatformhttps://www.labfriend.co.in/

In essence, it is the one-stop destination for laboratory equipment and scientific supply needs in India. From microscopes andcentrifugestopipettesandpetridishes.Basically,anythingandeverythingfoundin the laboratory’sfloor-to-ceilingcanbepurchasedfromLabFriendatanaffordableprice.

TheTeam:

Karl Wyzenbeek had worked hard early in his career to build a sales and service network for Australia and NZ’s leading laboratorysupplier. Rachit Parekh & Nilay Shah founded Bishops Scientific in 2021. Rachit holds a bachelor's degree in management, and adiploma in entrepreneurship and comes from a business background that deals in laboratory supplies. He has hands-on experienceindistributionandhasalsoassistedhisfamilyingrowingthe existingfamilybusinesstoa140-crorecompany.

Ontheotherhand,NilayholdsanMBAfromatopbusinessschoolandwasbasedoutoftheUKbutdecidedtomovetoIndiatorunthe new instrumentation company Bishops that he co-founded with Rachit. Throughout his career, Nilay has built a reputation forbeing a thought leader and innovator in the field of laboratory and analytical instruments. With over 22 years of experience in thefield of scientific instrumentation as an International Sales Leader, Nilay has an extensive network of contacts and a deepunderstandingofthemarket.

LabFriend’sDifferentiationFactor

LabFriend takes a contemporary but genuine approach. Through its extensive product listings and categories, its online platformhttps://www.labfriend.co.in/isincrediblyquickatdeliveringsearchresults.

A cost-effective solution that is highly desired by customers is produced as a result of its lean model, which ensures that resourcesare used effectively and efficiently. Every project is handled by in-house engineers who are leaders in their field and have a wealthofknowledgeandexperience.

Additionally, the business's after-sale support is unmatched, giving customers the help and support they require long after the initialpurchasehasbeenmade.

Due to partnerships with the parent companies of major European producers of laboratory equipment, LabFriend can offer competitive prices.Additionally,itsgame-changingsuggestionmoduleontheplatformsuggestscomparableproductsifaspecificproductisoutofstock.

LabFriendhasintegratedachatbotonitsonlineportalthathelpsusersfindanswerstoquerieswithinseconds.Allofthesefactorshavecontributed tothecompany'ssuccessandhavesetitapartfromitscompetitors.

TheNow&Future:

LabFriendhas17categoriesofproductslistedonitsplatform.A fewnotablecategoriesareCleaning-Sterilisation,Chromatography,Distillation- Separation-Filtration, Green Laboratory Consumables, Life Sciences, Liquid Handling, Optical Instruments-Microscopes,SamplePreparation,Stirring-Shaking-Mixing&Analytical Measurements-Testing.

Bishops Scientific, the company that runs the LabFriend business in India has its headquarters in Mumbai, began with just oneemployeeandhassinceexpandedtoastaffoffifteen.Sincethen,thebusinesshasgrowntoincludeofficesinHyderabad,Indore,andAhmedabad,withplanstoopen branchesin BangaloreandDelhiaswell.

Thecompanyisdisruptingtheindustrywithitspullmechanism,andithasevensetupamanufacturingoperationforcalibrationfluidsaspartofthe"MadeinIndia" initiative.

Conclusion:

The bishopsteamhaveensuredprofitabilityfromdayoneandhasbootstrappedBishopsScientific.Withinthefirstthreeyears,Bishops Scientific PVT Ltdthe parent firm of LabFriend hasreachedaturnoverof Rs 20.75 crores.

Rachit&Nilaygoontosay….“Astheindustrycontinuestogrow,LabFriendiscommittedtostayingattheforefrontofinnovationandprovidingthebestpossibleserviceandsupporttoitscustomers”

Whetheryou'reaseasonedresearcherastudentjuststartingintheresearchfieldorevenanFMCGcompanythatneedstotestitsproducts,LabFriendhasgotyoucovered.