Plantminer PTY LTD, located in Hendra, Queensland, Australia, is a part of the Computer Systems Design and Related Services Industry. It is an online portal whose aim is to save time and money for procurement officers, estimators, and project managers across Australia when they are looking to hire plant equipment. Today, Plant miner has become Australia’s largest equipment hire marketplace. They have got most equipment to hire companies and most individual items of equipment listed in one place. In this article, we will be diving deep into the Plantminer business model and try to attain our answers to the following question- “How does Plantminer make money?” and “How does Plantminer works?”. Alongside we will also be covering the details about its investors and the scope of the industry it belongs to.
Plantminer business model
Plantminer was launched in 2013 to become the most trusted construction marketplace in entire Australia, where anyone who is looking for a hire company or subcontractor can easily discover new vendors on the platform and hence save time and money. Using this Plantminer portal, clients can hire everything like portable toilets, generators, air compressors, dozers, trucks, etc. The most important asset of Plantminer’s success is an all-encompassing one-stop shop.
In Australia, before the launch of Plantminer, there was a real need for a service that would solve the issue of saving the excess time that the process takes to procure plant and equipment hire quotes. It’s a fact that the company is at a competitive advantage, but this alone is not the reason for its success. They deliver the quality and real return on investment that they gift to their clients. Plantminer has been earning a lot of money through its services because it has made itself a lot more accessible to searchers of equipment across the country. Plantminer’s success has led them to expand their company and expand into new countries, such as New Zealand. The company’s New Zealand branch went live in December 2014 and quickly gained a lot of attention
Michael Trusler is the CEO and co-founder of the company- Plantminer. He has previously worked as a project engineer, and one of his tasks was to procure equipment hire rates for the project. In 2020, Platminer merged with its enterprise SaaS brand Felix and became Felix Marketplace.
“Integrating our best-in-class enterprise solution with our comprehensive vendor marketplace now provides a compelling enterprise marketplace platform to Felix customers. We work closely with our market-leading clients who have been very vocal in highlighting the value that being able to interoperate with a vendor marketplace from their vendor management platform would solve significant problems for construction and related industries,” says Mike Davis – CEO & Co-Founder of Felix. (source ConsultANZ)
Felix has swiftly become the technological platform of choice for managing and sourcing from high-risk supply chains in the construction, utilities, resources, and services industries.
Funding amount: Plantminer has successfully raised a total funding of $3.5 million over one funding rounds. It was a Venture-Series Unknown round.
Felix is a comprehensive solution that allows industry-leading asset owners, builders, and managers to connect their organizations and supply chains seamlessly. Felix streamlines and centralizes Vendor Management and Source-to-Contract (S2C) processes to boost productivity, control risk, and cut costs. All of the people, tools, and information you require can be found on one platform.
Felix Vendor Marketplace is an online marketplace where consumers can list, find, and rent equipment and subcontractors from all around Australia — from any device, at any time. It also works with the Felix platform’s other modules.
Features of Felix marketplace
- The platform is 100% free to use
- From sending emails to contractors to gathering quotes, everything can be done through one this platform- All in one place
- Save time and money
- Get the pricing of what you need- no extra costings
- Get rates from your preferred vendors and the open market for all trades in your project
- Industry experts are ready to help you source exactly what you need at no cost
To understand the Plantminer business model in detail, we must first understand the working process and the revenue model of the company so let’s move on to answering “how does Plantminer work?”.
How does Plantminer/ Felix marketplace work?
To hire plant equipment or subcontractors, this is how Plantminer (now called Felix) works for you:
- Create your account on the official website and answer a few questions about your job to receive quotes on your requirements. At this step, you must specify the services you are looking for in detail to receive accurate prices back from businesses into your Felix account.
- You will receive quotes in your mail, and then you can easily compare quotes directly from trusted businesses near you.
- Now, you can connect with the right expert whose services best suit for you
If you are a vendor, then this is how Felix works for you:
- Register your account on the platform by defining your business capabilities and service areas.
- Expand your reach using the platform by engaging with relevant clients and commercial contractors across Australia.
- Acquire all quoting information that your need from anywhere, anytime, on any device.
If you want to become a vendor, Plantminer (now Felix) is a good option for you. The Felix vendor marketplace is built to help businesses like yours grow. With the platform, you will never again miss an opportunity to work on new projects, be it big or small, in Australia. You can get a boost in your business and reach greater heights by enhancing your reach using this online platform.
What special usability does Felix/ Plantminer offer?
At Plantminer (now Felix) platform, you can choose a separate module to meet your specific requirements or a powerful end-to-end solution in order to streamline your organization. Here are these specific modules with their features listed below:
- Using the platform, it is easier to manage risks with 3rd party vendors.
- Enhance your organization’s productivity with smart automation techniques to achieve outcomes quickly and efficiently.
- Reduce your spending by choosing specific services that best fit your requirements.
- Felix offers Vendor management to allow you seamlessly manage all tiers of your supply chain with risk-based prequalification, vendor database control, and performance evaluations.
- Streamline sourcing activity planning, execution, and auditing with a single solution, providing teams with total visibility and control over procurement activities throughout whole projects. In a nutshell, plan and execute schedules as well as monitor your progress.
- Allow projects and teams to manage sourcing operations in Felix while keeping everything centrally documented.
- Manage contracts using a robust contract repository, obtain vendor-based contract reports and key information summaries and update history and formal variations easily.
- Build new relationships with the vendors present on the Felix Vendor Marketplace. You can easily discover them by categories, locations, capacity to deliver, and your requirements. Obtain the prices easily and easily compare them with yours as business profiles are available publically.
- APIs and Integrations: Felix delivers a versatile and scalable platform that integrates smoothly with other systems to provide a real end-to-end procurement solution for customers.
How does Plantminer make money?
Creating an account on the platform and listing your services as a vendor or subcontractor is easy as well as free. However, if you want to start submitting quotes to the clients, you will need to subscribe to a service package. This package starts from $275 per month with no lock-ins contracts and no hidden fees. This is the major earning source of the company through the platform business users. They will never cut out of the work you win over the Felix Vendor Marketplace.
To start sending quotes, you must set up your account completely. As soon as you do that, you will start getting notified via email with each new request to ensure you never miss out on any notification. Now, whenever you want to quote, you just have to enter a price based on the job’s requirements.
Felix doesn’t take any cut out of the earnings; the client earns thanks to a Felix lead. There are no additional expenses to being a Felix Marketplace vendor aside from the initial subscription price.
The company is also working to establish its online presence by introducing blogs on the official website. A blog is an effective as well as an important part of the overall digital marketing strategy of most of the companies that are working on establishing their online customer base today. On the one hand, it helps in driving traffic to the site, generates new leads, deepens the knowledge of the customer base, and on the other hand, they turn out to be very profitable and yield outstanding results in terms of positive ROI.
If you are willing to launch an online marketplace similar to Plantminer, Ncrypted Technologies has the right solutions developed by our capable and innovative workforce. We offer customized and innovative features as per your requirement to let you launch a successful online marketplace.