Entrepreneurship Aug, 22 2014

Start young and be your own boss

There is a world of opportunities out there; if you are young, passionate and willing to think out-of-the-box. We present to you some concepts that are well-suited to those with limited funds but unlimited passion.

By Parina Sood, TFW Bureau
Senior Sub-Editor
Start young and be your own boss

Being a maverick has its own set of advantages. It sets you free from conventional thinking, many a times bestowing you with early bird prizes for pioneering a particular path. Be it starting a low cost travel agency or owning a start-up in the arena of innovative gadgets and gizmos, foraying into satellite education or donning the hat of party organiser; there are opportunities galore if passion rides and guides you.

Low-cost Travel agency

Who thought that travel agency can be run with just a reasonable amount of money and even from the comfort of your home? In the age of ‘jet, set, go’ that we live in; this is a reality.

Various brands offer opportunities to align with them as franchisees for a reasonable sum and provide all the know-how and support for running a travel agency/becoming a travel agent. Modiglobe, Ezeego1 and Ease My Trip are some examples.

“This is a great opportunity for youngsters who love to travel and want to foray into the business of travel, as it is easier for them to understand the domain and bring in an element of ease to the business operations”, says Neelu Singh, COO, Ezeego1.com.

Another brand, Modiglobe provides a cohesive business-in-a-box solution along with expert support for a sum of Rs 10,000. This includes training and development, operations, technology, and marketing and sales to anyone who wants to enter the world of entrepreneurship or is passionate about the travel industry. It offers a home-based business model which lets one leverage his or her network of people while removing the unnecessary cost of an office space.

Satellite education

If education industry is what you are looking to foray into, there are opportunities in the field of distance/satellite education that can be explored. One such opportunity comes from Smart School Education Pvt Ltd, an e-Learning company based in Delhi, with a back end office in USA. The company has core competence in creating technology based K-12 education solutions to the clients world over.

“Around 50 per cent of our franchisees are first time entrepreneurs. We have a very innovative concept involving use of technology in the education sector. And since our business model does not require high investment, our concept is ideal for freshers/young entrepreneurs”, says Saurabh Bhardwaj, Director, Operations and Support, Smart School Education Pvt Ltd.

Party for profits

If party and fun form a part of your personality, then becoming a party organiser is a good idea. What’s more, many brands (Wanna Party, Party Anthem to name a few) in this niche and nascent industry provide low-cost opportunities to become partner with them.

For around Rs 10-15 lakh, Wanna Party provides franchise opportunity with their brand. They provide complete marketing support along with free training and product knowledge. At present, the brand has two company owned outlets and 3 franchise led outlets. It targets at opening five more stores by the end of FY 2014-15.

Gadgets and Gizmos

If you are a tech freak and gadgets are the toys you fancy, then foraying into this space for earning money can be worthwhile. The industry, though not completely organised at present, is replete with opportunities in the mobile accessories and innovative gizmos space.

Sample this. For Rs 2-5 lakh, Gizmobaba, an innovative gadgets/gizmos brand that deals in unique products that are not available easily; provides franchise opportunity. The brand works on bringing the latest gadgets to the Indian market and deals with unique and affordable gadgets and gizmos. The brand plans to add 20 stores to its kitty by the end of FY 2014-15.

“Gizmobaba helps young businessmen and entrepreneurs full handholding and support, to help them start and build the business. Our team advises and supports at all steps including store design, setup, sales forecasts, inventory management, and just about anything a new entrepreneur would need help with”, says Alok Chawla, CEO, Gizmobaba.

Spreading Fragrances

The concept of home fragrances is new to India and doesn’t require much investment. This makes it a lucrative option for young entrepreneurs. An opportunity in this budding industry comes from Rosemoore, an English home fragrance brand available across the globe in over 31 countries. This franchise opportunity beholds an amalgamation of various fragranced products which can cater to homes, hotels, spa’s etc. Young professionals who are ready to take up a new business with enthusiasm can take a look at opportunity as this is an absolute new concept in the country.

Go Green

Eco-friendly energy solutions are gaining importance by the day and since many of the ventures are relatively low-cost, they form a good opportunity for the young and with limited capital. Coming from Bhambri Enterprises, brand King Sun provides one such opening.  The brand manufactures supplies and exports hi-tech solar power products. It specialises in solar water heating system and outdoor solar lighting system. With more than 10 years of experience in the industry, the brand promises all support and training to its franchisees.

FRANCHISE BOX

Brands

Investment

Area

RoI

Break-even

Expansion plan

Modiglobe

Rs 10,000

NIL

-

-

5,000 franchisees in the next 5 years

Ease My Trip

Rs 14,999

A room is sufficient

100%

12 months

The brand plans to expand franchise network in Tier - 2 and Tier - 3 cities

Ezeego1

Rs 6-8 lakh

200-400 sq. ft

-

4-6 months

30 new stores by Dec 2014

Smart School

Rs 50,000 – 5 lakh

1000 sq. ft

-

6 months

Brand plans to increase number of franchises to 1000 by August 2015

Wanna Party

Rs 10-15 lakh

500 – 1000 sq. ft

30%

1 year

5 more stores by end of FY 2014-15

Gizmo Baba

Rs 2-2.5 lakh

25-80 sq. ft

100%

5-6 months

20 new outlets by end of FY 2014-15

Rosemoore

Rs 10-20 lakh

100-300 sq. ft

30-50%

1 year

100 new stores in the near future

Kingsun

Rs 5-8 lakh

200-500 sq. ft

30-35%

3-6 months

12 new outlets in near future

Related: Partners for life and business too

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