Oisin Hanrahan is the CEO of Handy and Umang Dua is the co-founder. The idea of Handy occurred when Oisin and Umang were attending Harvard Business School as roommates in Cambridge, Massachusetts. They felt there was a need for an on-demand service for cleaning and that it was an unexplored territory for profit.
During Handy’s first 2 years changes happened. Dozen of workers had been hired. Chatbots were used for customer service purposes. However, Oisin and Umang continued to experience unprofitable circumstances with the company.
Handy was on the road for possible transformation. The major transformation had to do with the systematic way that Handy.com would hire cleaners for the company. During this time Oisin wanted to steer away from the online process of bringing forth possible cleaners. Umang during this time was hesitant about Handy undergoing a major change in general.
January 2015 Oisin and Umang decided to put forth a test run for a new system in Washington, D.C and Miami. By November 2015 Handy had achieved $50 million funding. The achieved capital had given these two gentlemen some relief. Following the achieved capital Oisin and Umang had to determine how they would proceed with being profitable. Handy proceeded with an online strategy for onboarding that would be throughout all of Handy’s markets. Shortly after Handy had experienced some ups and downs. This had provided a new perspective on managing the company.
Recently, Handy is beginning to look more profitable with each quarter that passes. All of the company’s cities margins are positive. Handy’s margins have jumped from 7% to 20%. The company has a growth revenue of more than 50%. Handy has reached $1 million bookings.
In conclusion, minimizing the amount of market expansion and taking control of optimization has helped Handy become a more profitable company.