GHAR SAAZ
Every human being aspires and dreams of a beautiful home, which has beautiful aesthetics and interiors. Be it a middle-class person from a metro or a low-income generating employee of Tier II or Tier III cities, buying a house and decorating it is always high on their agendas. Though it is easy to employ an interior decorator and buy products from high-end showrooms, but not everyone can afford to do that. This startup aims to give wings and fulfil dreams of such people with least amount of expenditure, and that too beyond their expectation. This startup not only decorates the interiors but simultaneously works to curb the pollution and carbon footprints. Have we ever wondered the kind of garbage pollution being generated over the world or our immediate neighborhood, it is humongous. This startup plans to purchase such junk or the products which may not be of any value to the seller but the same product can be reused by recycling it after incorporating new usage features and value addition. As some people say “One man’s trash is another man’s treasure”. My startup Ghar Saaz will connect these dots of sellers and buyers filling in the intermediate process of value addition.
HOW IT WORKS:
The working of this startup is fairly simple; It plans to help the environment and helps to achieve the medium/low income generating employee get his/her dream house well within their budget. Which reminds me have you even been to a scrap yard or have you ever wondered what happens to the damaged furniture over there, since all of these things end up showing up at the scrap yard, what happens to it after that; Does someone buy it? Do the owners of the scrap yard ever do something useful with all the items in their yard. The answer to all these questions is the same, a big NO. This is the spot where my startup comes into play we will buy the scrap/damaged items and we will reincorporate it into jaw-dropping interiors, “How do we do it?” must be the only thing in your mind right now, well like I said we’ll buy all the scrap which suits our theme , even if it is damaged, then when a client shows up at our doorstep and let’s say he wants a table but he cannot afford to buy it from all the high-end showrooms out there, we will use one of our table which we got from a scrap yard, repair/refurbish it, and then reincorporate it into something which our client wants, that too while staying well within the budget. Now isn’t that great ,we our hitting two birds with one stone, the first being that we recycled one of the many things considered to be ”Junk” or “Useless” and the other being that the client got what he wanted and he did not have to compromise with anything.
MARKET DEMAND:
Indian real estate sector is approximately worth of Rs.43,780 crore. Even a conservative share of 10% of medium/low/very low-income group would entail this sector a whooping amount of Rs. 4,378 crores.
RELEVANT PRODUCTS:
The Indian real estate sector has a very large number of contributors varying from Godrej, Home Town, The Karighars to several small interior designing firms. Although big firms like Godrej have a recycle program which aims to reuse/recycle damaged products, none of these companies recycle their products and reincorporate/transforms them into fancy and attractive interiors.
TARGET CUSTUMORS:
The crosshairs of our company would be focused on the average citizen of the nation i.e. medium/low/very low income generating people , people who even though wish to get the best in their range , but are unable to due to very few choices offered by companies.
REQUIRED KNOWLEDGE OR EXPERTISE:
· A creative eye and attention to detail
First and foremost, you’ll need to be highly creative. You’ll be expected to design spaces for all sorts of clients. Although having a point of view can be an asset, you’ll also need to be very adaptable. You’ll also have to focus on both the little details and the big picture simultaneously to craft cohesive spaces. While creativity is not the sole requirement for this job, it’s certainly a prerequisite.
· Trend identification
Trends come and go, and you’ll need to stay ahead of the curve. Being able to identify and predict trends will help you stay relevant and in-demand. Plus, being able to spot bad trends will ensure your career stays relevant for years to come.
· Knowledge of sustainable practices
It’s becoming more common for clients to request eco-friendly features. You’ll need to have a good working knowledge of these desirable design features and technologies. Clients will rely on you to make the best decisions for them, so this knowledge is key for overall satisfaction.
MY SOLUTION:
ESTIMATED BUDGET:
The initial investment of this startup is very high as there are many things that are needed to be considered. The following is a brief list of all the potential investments that need to be made:
1. Storage Area:
Okay, so you bought some good items which could be pretty useful in the future , but where are you going to store it? We would need a warehouse to store all the things , which isn’t cheap. We would also need to make sure that the place meets our requirements as some items are very sensitive to external factors like moisture, pressure, temperature etc. So, we must find a good location which meets our requirements.
2. Crew:
Since storage is no longer a problem, we must be start to work on the next objective i.e. repair but we can not keep giving so many things to an outside firm, it would be way to expensive. So we need to hire our own woodworker, tailor, steel smith, etc. This would greatly reduce our expenses while keeping our goal on track. But getting a crew is not just hiring them, we would need crew quarters if some of them wish to stay, we would need to make proper arrangements for them to stay arrangements such as proper place to live, food, water etc. We would also need to look out their basic needs to work which are their tools. Which brings us to our next point.
3. Equipment:
As Steve Jobs once said “You can not mandate productivity, you must provide the tools to let people become their best”, Or as Thomas Carlyle said “Man is a tool-using animal. Without tools he is nothing, with tools he is all”. Both of these quotes emphasize on a common word “Tools”, so it would not be fair to not let the steel smith use a furnace or a woodworker to use his saw, hence we would need to buy the necessary tools of the trade. We would need to set up proper work spaces for every specialist we have and give him the right tools to work with, which is a lot of equipment we would also need to make sure that the equipment stays in near mint condition so that there is not compromise in terms of quality.
PRODUCT PRICING:
Price will be dependent on the type of the product; however the price will be much cheaper as compared to similar products in the market. Moreover, in case of artifacts and unconventional products the price will be commensurate to it’s market value.
MARKETING:
The brand Ghar Saaz will be marketed by 3 prong strategy, firstly by aggressively promoting the impact of environmental benefits and cutting on the carbon footprints on the news media and web platform. Secondly the brand name will be marketed in high-end society circles by means of NGOs and clubs. Thirdly by focusing on the medium/lower income groups, through the builders and real estate dealers. Marketing of the startup is the most critical and sort after ingredient for promoting the brand name. The higher the marketing , the better the results are. Interior decoration and home decoration and house makeovers are a product line which yields better results with higher marketing.
RISK ANALYSIS:
My startup has a very low yield risk involvement as the investment is primarily on the goods which are as it is on it’s lowest cost possible.
MILESTONE AND TIMELINE:
The major milestone in this startup are identification of major scarp dealers and the local shop dealing with repair and replacement work. Once the network of such dealers are identified and established MOU will be signed for a particular duration of time. The next important milestone is identification and establishment of liaison with the NGOs. And the last major milestone is establishment of outlet chain and finalization of franchises. After due deliberation it is anticipated that the creation of research and network would entail a timeline of 6 to 9 months. The second major time-consuming factor is the establishment of outlet chains and franchise identification and finalization, this will entail a time guideline of around 6 months and lastly the marketing and brand creation will entail a timeline of 3 months. So as a whole this startup will be made functional with a timeline of 1 to 1½ year.