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  • Share Acre – Co-ownership of Second Homes in India

    Company Profile is an initiative by StartupTalky to publish verified information on different startups and organizations. The content in this post has been approved by ShareAcre.

    Note: Share Acre is no longer in business and closed.

    Many of us dream to own a holiday home. Who would not love to buy a farmhouse near the beach or amidst the greenery of a hill station? If you are also one who has been planning to purchase a second home in a dream location, but the hassle of finding a suitable property, shortage of fund and the fear of the lengthy legal formalities is deterring you, then there is good news for you.

    Share Acre, a Mumbai based startup brought the concept of co-ownership of second homes in India. Share Acre lets you co-own your second home and even rent and sell it if required.

    Share Acre – Company Highlights

    Startup Name Share Acre
    Headquarter Mumbai
    Founders Vivan Puri, Nirbhay Bakshi and Udai Chawla
    Sector Real Estate
    Founded 2018
    Parent Organization Shared Acre Solutions Private Limited

    About Share Acre
    Second Home Industry in India
    Share Acre – Founders
    How was Share Acre Started
    Share Acre – Name, Tagline and Logo
    What is Share Acre
    Share Acre – Launching Startup
    Share Acre – Revenue Model
    Share Acre – Funding and Investors
    Share Acre – Startup Challenges
    Share Acre – Competitors
    Share Acre – Advisors and Mentors
    Share Acre – Growth

    About Share Acre

    Share Acre is a real estate startup founded in 2018. ShareAcre allows two or more like-minded people to come together and split the cost and CO-OWN a second home to use, rent and eventually sell. This enables the customers to purchase a fully furnished and professionally maintained second home at a fraction of the total cost. Besides, Share Acre lists only curated and vetted listings and provides all services associated with buying, like legal and financial services, making the process super simple.

    Share Acre is driven by the vision of becoming a major player in the Indian market for second homes, by radically transforming the way of buying and selling vacation properties via fractional ownership.

    Second Home Industry in India

    Share Acre operates in the second home market (real estate sector). In the year 2014, as per HinduBusinessLine, 1.3 million second homes were sold in India. This market is been growing at a rate of 10-12% in sales. In absolute terms, the growth registered by the vacation home segment in 2014 was 57 percent over the year 2013.  

    With  rise in the buyer confidence, we believe that the second home market will see growth rates similar to the year 2014. Moreover, as India continues to prosper and incomes see to rise, being that a majority of second home buyers are in the upper-income segment, we can see further growth in this market.  

    A major hurdle for the second home market remains that it is perceived to cater to only the upper-middle income class, due to the high ticket prices for premium luxury homes, thus restricting and constraining its market reach. However, with the introduction and expansion of fractional ownership, as introduced by Share Acre, lowering ticket prices, for both usage and investment, and providing of various other services, growth in this sector is likely to aggressively accelerate in the coming five years.

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    Share Acre Founders

    Vivan Puri, Nirbhay Bakshi, and Udai Chawla are the founders of Share Acre.

    Vivan Puri is a graduate of New York University. He saw the popularity of second home concept or co-ownership of a second home in foreign countries and wanted to introduce the concept in India.

    Nirbhay Bakshi graduated from O. P. Jindal Law School, on a full scholarship, with a BA. LLB degree in 2018. He worked in corporate law at the Banking and Finance team of ELP, Mumbai. His parents were on the lookout for a second home, and Nirbhay was well aware of the problems associated with finding one. So when the idea of starting Share Acre came up, looking at the immense potential it had, he left his job to join the founding team of Share Acre.

    Udai Chawla graduated in 2017 from Drexel University with a bachelor of Science degree in Business Administration. He worked for Sotheby’s and subsequently, BPTP (a real estate firm in New Delhi). While working at these firms he realized that the customer buying experience has a void and the real estate market has rising prices, without alternate ways of ownership. This is the reason, he became a part of Share Acre.

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    How was Share Acre Started

    Fractional ownership or co-ownership of second homes is a concept adopted around the world and has allowed people a more efficient, cost-effective and accessible way to own second homes. Vivan always had a keen interest in the second home sector, as it was an excellent option from both lifestyle and investment perspective.

    However, he observed that in India there was no company providing the service of co-ownership of second homes. He discussed the concept with his friends, family and colleagues, and realized that owning a piece of property is a universal desire and a second home is an aspiration for many in India. He was confident that offering curated, fully furnished and well-managed properties with co-ownership options will be well suited for India.

    To make things easier, along with the property he further thought of offering services required while purchasing a property like legal and financial services. Share Acre started operating from 2018.

    The startup was named Share Acre, as the name conveys the concept of co-owning in real estate.

    We are the proud owners of over 50 domain names, which we bought while trying to come up with a name.

    ShareAcre Logo

    The company’s tag line, ‘Fractional Realty, A Reality’, conveys the company’s mission of helping Indian’s realize their aspirations of owning a second home.  

    What is Share Acre

    Share Acre takes care of all the aspects required for owning a second home. It selects the best of property, takes care of interior designing, manages and maintains the property, does rental management, assists in resale and takes care of all the documentation and execution matters. The company is also creating a platform and unique dashboard that helps buyers use their property like never before.

    There is a dilemma with any buyer of a second home; they want to purchase a second home to improve their lifestyle, as a status symbol, to have a break from the city life or as an investment. However on the flipside they do not want to incur heavy costs or have the additional responsibility of maintenance. Furthermore, by its very nature, a second home is used only a fraction of the time. The property lies vacant while the buyer still must pay the maintenance cost. With Share Acre, assuming 4 buyers, each buyer is able to enjoy 90 days in the property ensuring equal access during season days, weekends and bank holidays, all managed through a property manager and an online management portal provided by Share Acre.  This allows buyers, via their property manager, to rent out their share of days and earn rental income while splitting the cost of maintenance and other recurring costs.

    Therefore, Share Acre enables any such aspirational buyer to enjoy the benefits of owning a second home for up to just one-fourth of the total property value and without the additional responsibilities of maintenance and management.

    A major issue with buying second homes is that it requires research, site visits and legal checks. Currently, there is no other platform focused on curated listings. Share Acre lists properties only after a thorough legal and financial due diligence and after conducting site visits and discussions. Furthermore, all the listings have pre-negotiated all-inclusive prices, that include the property cost, stamp duty, GST, cost of full furnishing, first-year maintenance and a security deposit. Thereby, showing buyers the actual and total cost of the property. Another Share Acre advantage is that it does not charge any brokerage from the buyers.  

    An expense that buyers have to incur is the huge brokerage fees, often as much as 3% of the property value, which translates to lakhs of Rupees. We on the other hand charge no brokerage from the buyer, while also providing an end to end service platform, which means we provide assistance in the purchase, documentation, interior design and property management.  

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    Share Acre – Launching Startup

    Work for developing the product began in 2017. The Share Acre team spent months ensuring all legal compliances and creating the co-ownership documents that would best protect the customers’ rights. For this Share Acre tied up with one of the best law firms in India, Desai and Diwanji.

    Share Acre also associated with a renowned chartered accountancy firm, N.A Shah Associates LLP, for creating a tool to analyze investment value in properties. The team spent months scouting for the best properties across India and tying up with developers. To take care of the interiors it joined hands with SiCiDi Architecture, a leading architecture company, which has a client list including Amitabh Bachan and Priyanka Chopra. After putting all this in place and the offering prepared, Share Acre went live in 2019 and the services became accessible to buyers.  

    To take care of business and strategy, Share Acre brought on board Mr. Naresh Wadhwa, the ex-head of CISCO Asia. It also raised funds for marketing from Mr. Jayendra Shah, who is Share Acre’s first angel investor and is an advisor to the company

    Share Acre – Revenue Model

    The Share Acre revenue model earns via brokerage from sellers and a commission on property management services and rental services.

    It lists properties that have a price range of 15 lakhs to 3 crores, for 25% of the property

    Share Acre – Funding and Investors

    Share Acre raised seed funding from angel investor Jayendra Shah in January 2019. The amount for Share Acre Funding was undisclosed.

    Funding Date Funding Stage Funding Amount Investor
    5th January,2019 Seed Undisclosed Jayendra Shah

    Share Acre – Startup Challenges

    The most challenging part for the Share Acre team was to filter out the best properties. This involved countless trips across India to find the best properties for the buyers. There were times when the team has to spend weeks negotiating prices with developers, to ensure the most cost effective price for the end consumers.  

    Share Acre – Competitors

    Currently, there are no other companies offering fractional ownership in India. Share Acre provides curated listings of property and end-to-end assistance to facilitate the sale, without taking any brokerage from the buyer. It also provides fully furnished interior design and property management. No other company in India provides all these services in a single package.

    There are multiple listing platforms. But they are all plagued with a common problem of sub-par user experience. They have countless listings, without curation, and do not provide end-to-end services until the purchase of the property. Similarly, there are countless real estate agents, but they charge high amounts in brokerage from both the buyer and seller. And there are countless property management and interior design firms but all charge a premium price and do not come together with the property.

    Share Acre – Advisors and Mentors

    Share Acre has experienced advisors and mentors in its team. The company is being mentored by

    • Mr. Jayendra Shah (advisors to. companies such as Unichem Laboratories)  
    • Mr. Naresh Wadhwa (ex-head of CISCO Asia)
    • Mr. Sahil Dhowan  (Head of TCCM fund)                                                                    

    Share Acre – Growth

    Share Acre is one of the few or maybe the only fractional ownership companies in India till date. Share Acre has expanded to over 7 cities in India and has secured properties of the best developers in the Industry, including Della (Lonavala), Ekta (Nashik), Ashray (Goa), Ahillia Homes (Goa) and Tata (Goa). It has also tied up with Opnhouz, a real estate brokerage firm in New Jersey for reaching out to NRIs. To find new avenues of investment and growth, Share Acre has brought on board experts from the industry, one of which is Mr. Sahil Dhowan.

    Frequently Asked Questions – FAQs

    What is Fractional ownership of home?

    Fractional ownership of homes is a concept adopted around the world where it provides people a more efficient, cost-effective and accessible way to own second homes. The parties involved share maintenance charges for the home and have the property to themselves depending on the fraction of the property they are paying for.

    What is Share Acre?

    Share Acre is a real estate startup that allows two or more like-minded people to come together and split the cost and CO-OWN a second home to use, rent and eventually sell. They also provide all services associated with buying, like legal and financial services, making the process super simple.

    What are the names of some fractional ownership startups in India?

    Till date (March 2021), Share Acre is the most popular and seemingly only fractional ownership startups in India.

  • Lifestyle Marketing: Brands That Speak | [The Definitive Guide]

    It’s been ages that every brand is trying to generate a brand value that grabs the attention of their target audience so that the next thing that clicks in their mind is “They want to buy it.” From the car you drive to the deodorant you use; we are looking at the brand value of the product we use. People from around the globe are trying to create a lifestyle ideal, and then we buy those products over others.

    Rome was not built in a day: Creating a brand value is not like you can just do it all with money. There are various other factors, and marketers have spent a great deal of time wrestling the idea of developing useful, real-life market strategies. These foundational characteristics are rooted deeply in human wants and desires and act to create a connection between a company, its products and services, its people, and ultimately its customers.

    Today, the average consumer is sick and tired of “traditional ads”. People don’t want to be “sold to” by their favourite brands.

    If you want to know what are lifestyle brands….keep reading !

    What is Lifestyle Marketing?
    Why Lifestyle Brand?
    Characteristics of Lifestyle Brands
    How to Create A Lifestyle Brand?
    Tips For Creating A Lifestyle Brand

    What is Lifestyle Marketing?

    But what is the lifestyle brand meaning? The word “lifestyle” is a somewhat broad one, and it means that your company can focus on a range of areas, all the way from fashion, to cooking, or sportswear. A consumer’s lifestyle is seen as the sum of his interactions with his environment.

    Lifestyle Marketing | Lifestyle Brands
    Lifestyle Marketing | Lifestyle Brands

    Lifestyle marketing is a marketing strategy where a product is branded and marketed such that it is perceived to possess aesthetics, ideals, and aspirations according to the people’s wants; which also get identified and revolves around an ideology that gives meaning and purpose to why it exists.

    Now marketers have realized that in order to get their brands heard amidst all the noise in the advertising space, they need to take a different approach. Instead of trying to convince consumers to buy their products, these marketers create a seductive aura around their products such that the consumers crave to buy their products and get associated with the brand.

    These are some popular lifestyle branding examples that you might have seen:

    • The athlete, like Nike, Puma, or Adidas.
    • The thrill-seeker, like Vans, The North Face, or DC Shoes.
    • The adventurer, like Jeep or Harley Davidson.
    • The trend-spotter, like Warby Parker, or Dior.
    • The luxury lover, like Marks and Spencer, Ralph Lauren, or Louis Vuitton.

    Why Lifestyle Brand?

    Why Lifestyle Brand? | Nike: Just Do It.
    Why Lifestyle Brand? | Nike: Just Do It.

    In our hectic life, many of us aspire to live a different life with more excitement and thrill. We want to become more athletic, fitter, more adventurous, more rebellious, more fashion-conscious, and the long list never ends. It is this desire to live a different kind of life that lifestyle marketers appeal to.

    Lifestyle brands are effective in a way because they work on a deeper understanding level of what their target audience actually wants to do and achieve. Lifestyle brands create the whole idea that using their products or being associated with their brand takes people closer to the kind of lifestyle they want to live. They analyze the experiences that their audience craves, as well as the people, things, and places that inspire them.

    Successful lifestyle brands don’t just compile demographic data into a user persona and begin to churn out content, they dissect every aspect of their audience until they know exactly what makes them tick.

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    Characteristics of Lifestyle Brands

    • A devoted, cult-like following and community around the brand and its products.
    • An emotional connection with their audience.
    • Inspire the audience to live a better or more exciting life so that they cultivate the trust and respect of their target audience.
    • Content and marketing activities are more focused on their audience rather than their products.
    • Don’t try to sell to everyone, cater for and connect with a niche audience.
    How to create a Lifestyle Brand?

    How to Create A Lifestyle Brand?

    Creating a lifestyle brand is about defining who or what your audience wants to become in the future, and giving them the solution that will help them achieve that end goal. It’s not about designing the perfect running shoe, but convincing your audience that your company will make them a better runner.

    One of the basic characteristics that differentiate lifestyle brands from non-lifestyle brands is that lifestyle brands succeed in activating and uniting communities. They market the product as a lifestyle or a part of the lifestyle.

    5 Steps to Build A Successful Lifestyle Brand

    • 1. Decide what kind of lifestyle you want to sell
    • 2. Weave lifestyle into your brand
    • 3. Be personal
    • 4. Use content to create experience
    • 5. Build your community

    Just imagine standing in your favorite brand’s store. You would think why this brand makes it in my favorite list? Why should I buy this? How is this going to help me or my charisma? With the initial perception of a product should be such that the consumer is convinced by lifestyle branding.

    In a way or not, we always try to use our money on things that are actually helping them out with their problems for a longer duration and also, building up their aura. I mean, obviously, a guy with Apple iPhone is more technologically-advanced than one with Nokia 1600. We judge everyone with the brands they wear or their lifestyle. Although this is hard to digest, we live for a better life, and that’s how lifestyle brands help to achieve that.

    Lifestyle marketing | Lifestyle Marketing
    Lifestyle marketing | Lifestyle Marketing

    Tips For Creating A Lifestyle Brand

    Lifestyle brands are effective because they appeal to our human need to find a company that embodies our ideals. While there’s no one size fits all guide for lifestyle brand strategy, the following tips could help you to get started on the right track, before you begin your marketing campaign

    1. Do Your Research

    Always keep in mind that your aim is to define your company as an ideal that can help consumers buy what they aspire for. To step up on that, you should have a clear-cut idea about what those goals really are, and which try doing something unique. When you know what kind of lifestyle brands people like, or what identity they want to build; then achieving anything can be made possible. Make a list of lifestyle brands in your area of interest.

    With that information in hand, you can do some research into your marketplace, including:

    • What kind of competitors you’ll be facing.
    • How your name, logo, and visual identity should represent your lifestyle.
    • What kind of brand values your customers respond best to.
    • Where your customers spend most of their time, and what kind of marketing they like.
    • What your brand should never become.

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    2. Build your Personality

    The top lifestyle brands have unique personality traits that travel with them wherever they go. So when you do research on what kind of customer you want to appeal, then that should give you an insight into how that type of person talks and interacts with other individuals in their community. This will make it easier for you to adapt your voice to resonate with your followers.

    Remember, some lifestyle brands even create their own branded buzzwords and language. For instance, employees at Disney World aren’t called staff members, but “cast members”.

    3. Cohesively Demonstrate Your Ideals

    The only thing that lifestyle brands are doing better is, they convey a lifestyle that their customers aspire to be. Whatever you decide your lifestyle brand is going to be like, you need to be willing to commit to your ideas for the long-term. Even the methods you use to communicate through your audience might evolve, make sure that your customers can rely on you to embody their ideals, no matter what. For instance, your brand might be associated with luxury, hospitality, or an adventurous nature, but it includes their aspiration; then it’s easy for them to differentiate between every other brand in the market.

    Ralph Lauren | Polo | Lifestyle Branding
    Ralph Lauren | Polo | Lifestyle Branding

    If you want to create a lifestyle marketing strategy around your brand, you should start by defining the kind of lifestyle you want to sell, then weave that lifestyle into your brand story, engage and interact with your customers, create outstanding, authentic content, and build a community of followers around your brand. People don’t usually buy things, because they need a new pair of boots, they choose that particular brand over others because of the identity it embodies, and the idea it conveys.

    Nike doesn’t exclusively market itself to accomplished athletes. Instead, the company encourages everyone to believe that, with its help, they can all be successful in their health and fitness goals.

    Consumers view the items and services they purchase as an extension of who they are and what they believe in. Lifestyle brands simply build on that concept, by ensuring that they don’t just sell a product, but a set of values that appeal to their target market. Products come and go, but our underlying quest to find ourselves, and become the people we want to be can remain the same for decades.

    At the end of the day, most buying decisions are rarely logical; other than what Indian Mothers make!

  • Coworking Space – Facilities and Benefits

    With the state of the world at the moment, most companies are opting for a coworking space instead of having a building all to themselves. This saves them on the rent and utilities plus it’s fun to work with different companies in the same space! A coworking space is a space shared by more than one company allowing saving on certain costs. Here are some facilities and policies that should make the ideal coworking space successful (in my opinion):

    24-Hour Access

    Entrepreneurs sleep, but entrepreneurship never does. Any entrepreneur may need the space to work late at night. So give 24-hour access to the office with the ability to buzz in guests after hours.

    Guest Rooms with Bathrooms

    You never know when someone is in such a situation that they need a guest room to spend a night. I am not saying you need to convert it into a hotel, but you still need a spare room to be always prepared.

    Free Invitation for Entrepreneurs and Creative Professionals

    Invite entrepreneurs and other professionals. Let your users suggest who you should invite. It markets the co-working space. Also, divide the space into zones to create different vibes.

    Lots of After-hours Event Programs for Tenant Interaction

    Event programming is a programming paradigm in which the flow of programming is determined by the events. Not just technically, you should do this to make the environment better too.

    Tenant Logos on the walls

    Marketing is the blood of the business. So, make sure you do everything to market your brand. Many people use the co-working space to shoot professional videos. It will market your space. However, don’t stuff the whole office with your logo. One at the entrance and some on the walls are enough for the marketing purpose.

    Graffiti for Brain-storming

    Graffiti is a sign of a young creative mind. Having one on some walls of your co-working space will help people think creatively. You should also leave some blank white walls as some people just like to stare at the plane wall to think differently.

    Lots of Whiteboards

    You cannot think of a startup without a plan. And plans need to be visually represented. To write their imaginations, people will need whiteboards with wall-mounted markers & erasers

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    Casual Group Communications Areas

    Professionals are not just colleges, they are friends too. And I am sure you don’t want some friends to disturb everyone in the space. So it is better to have a separate area where groups of people can chat with each other.

    Closed Sound-proof Rooms with Great Acoustics

    The space can have light music in the background or white noise for people to stay focused. You can divide the area with different background noise for different kind of people. Do not forget to make the space soundproof.

    Private working Nooks

    Some people may need to be alone to focus for some time. It will be great if you have a corner room with bright lighting where anyone can spend some time.

    Dorm Rooms for Individuals to Brain-storm

    Co-working spaces are much more important for freelancers than other business entrepreneurs. So, you need to provide some good service to freelancers too. A personal dorm room where they can work peacefully will make the freelancers happy.

    Food Court

    As the entrepreneurs and freelancers will not be able to go home for a break or go out somewhere, due to lack of time, they will need food at the space itself. You need to provide good quality food to them with a prepaid card and credit payment plan.

    Junk-food and Snack Bar

    Junk food may not be healthy, but they are great when you are in hurry but need to eat something. Also, the snack bar will make it even faster for them to have a little treat while working.

    LAN Gaming Ready Work-stations

    Gaming is life for almost all the tech entrepreneur. Many people play video games to be stress-free. So, you have to have a gaming-ready work-station with a good LAN connection.

    Acoustically-isolated Telephone Booths

    As we previously mentioned that you need to have either white noise or light music in the background but it is not always good. Some people may need a space where they can peacefully talk on phone. So, it is important to have a dedicated place which will be noise free and where everyone will get a good connection.

    A Studio for Podcast/Video Recording

    Youtube and podcasting are becoming very popular these days. Hence, you need to have a studio in your Co-Working space where people can record their audio and work on it.

    A Green Screen Section in that Room

    As I said, Youtube is becoming popular, there is a strong possibility that you can have some Youtubers coming to work on their projects. However, people don’t record in old style these days. So, Youtubers will be looking for a green screen where they can record the video and then easily edit it.

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    Super-fast WIFI

    This one is the most important. Each and every person who will be coming into your space will need the internet every second he/she is in there. So, you need to have a super fast WiFi connection.

    Lots and lots of wall Power Sockets

    No, No! We cannot forget it at any cost. You need to have at least one power socket after ever 1 feet distance.

    Free-flowing Caffeine in Multiple Varieties

    Coders consume more coffee cups while creating software than they write codes. So, you need to provide the caffeine into many forms. For instance, a machine should be capable of creating black coffee as well as normal milk coffee.

    Free Snacks in the Fridge

    Don’t expect them to be so lost in their work that they will not even feel hungry. You need to keep some free snacks so that people can have something whenever they feel peckish.

    A High Capacity Microwave and Grill in the Cafeteria

    People may bring their own food and want to warm it up. So, a microwave will be more than enough for them. You can also have some BBQ grill in there.

    Either Warm White or Daylight Diffuse Lighting

    Very bright light can be very annoying to some people. Having a warm light will be a great help to some eyes.

    Comfortable Ergonomic Chairs and Desks

    Office ergonomic chairs and desks are totally different from normal desks and chairs. So you need to choose some good quality ergonomic chairs. Remember, a bad choice can affect someone’s health.

    Sleeping Bags

    Might sound stupid, but there can be some situation when someone needs to remain at the office. So it is better to be always prepared.

    Projector and TV in each Networking Room

    Projectors or TVs are important for corporate meetings. People who need them will probably from mid-sized corporations and so, they can be a big lead for you.

    Smart Classroom Whiteboards for the Projectors

    You may have seen them in the school’s smart classrooms. They are touch sensitive and can be used as a touchscreen for projectors.

    Easy Access to Public Transport

    Not everyone will have a personal transport. Also, it not even good to have one unless it is electric. So, it will be great to have the office which will be near some bus station or can be easily located by cab drivers.

    Location should be near Cafes and Shopping complexes

    Some people may not like the eateries of your cafeteria. Having the space office near some restaurants and cafes will be a great plus for entrepreneurs.

    Game Room

    A game room with toys like LEGO and remote controlled toys to play with will make your co-working space the coolest place to work. That Game room should also have board games, pool table, foosball, and video gaming consoles too.

    An Auditorium to Host Events and Movie Nights

    It will just make your space more fun for people who don’t like gaming. Also, you can hold some events there like a speech by some entrepreneurs, etc.

    Resident Advisors and Mentors

    If you can provide mentorship to your customers, what could be better than that?

    Expandable/Contractable Space Arrangements

    Someday, someone will need more space than usual. You need to be ready.

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    Resident Lawyers

    You may need them someday. So have some good contacts.

    Mailboxes to Collect Postage

    Many of your users will ask you to receive postages on their behalf. So, you can simply place a mailbox to collect all the mails in one place.

    Demo days for Graduating Companies

    Some people don’t believe so easily. So, you need to provide them some demo days to experience the co-working space.

    Printing Shop

    Provide an in-house printing shop in the coworking space retail block along with the food court. It will make you some bucks and serve your user as well.

    Regular Chair Massage Appointments on Call

    Just another cherry on the cake. But it will be useful and your users may appreciate it. Just make sure to provide it at a reasonable price.

    Printer in every Room

    Yes, you can provide a printer in each and every room and ask them to bring their own paper to print on. Also, they will pay for new cartridges.

    If it’s a very large space like Google’s, scooters or Segway:

    Saves time in traveling withing the facility plus its a whole lotta fun!

    Other Facilities :

    • Attended reception area for guests with seating
    • Fast video conferencing equipment to skype partners, mentors, and investors
    • Frequent value-adding visitors such as VCs and other mentors
    • A day room for taking nap.
    • An in-house presentation/graphic designer
    • An in-house filmmaker
    • A brand that can help validate their credibility
    • An online wiki and/or physical bulletin board
    • No-smoking environment
    • Pet-friendly/respectful policy (for those who do/do not like them)

    Sounds like a dream, doesn’t it?

  • The Ultimate List of Trip Planning Apps You Must Have

    Whether you want to have a relaxing holiday or a pilgrimage trip or a business trip, any trip it may be, many travel apps are cooking up to make your experience breezy, they are making your trips much more comfortable and easier by organizing many things from booking tickets to hotel accommodation.

    Notwithstanding it, these best trip planning apps also help you in answering questions like famous places to visit, what are the different means to reach your desired location and so on. So, let’s have a look at the top 6 trip planning apps that can save your time by 37%.

    Best Trip Planning Apps for 2020

    Best Trip Planning Apps for 2020

    Hopper

    trip planning apps
    Hopper | Best Trip Planning App

    The mobile-only app Hopper tracks flight prices and gives periodic updates on whether you should buy now or wait, you can book through Hopper with a commission fee of a few dollars.

    The price predictor feature explains if and when the price will rise and by approximately how much, allowing travellers to make an informed decision about whether or not to book or wait.

    Trip Case

    trip planning apps
    Tripcase

    Trip Case is a mobile app that helps you organize your trip by making an itinerary for you, the itinerary can include flights, accommodation, rental cars, reservations, and more. It is one of the easy trip apps.

    To make an itinerary, you need to forward travel confirmation emails to TripCase, and the app then organizes everything. The next time you launch the app or log into the website, a complete line of your trip is waiting for you. You can manually add details, too.

    Trip It

    Best Trip Planning App
    Trip It App | Best Travel Apps

    TripIt is one of the best travel apps in India. It is creating an itinerary for you, but TripIt organizes your travel plans like booking tickets, hotel accommodation, cabs, etc. You just have to send a confirmation email like TripCase. If you don’t want to give TripIt access to your email, you can use the app by forwarding emails to it instead of manually entering details.

    If you upgrade to the pro version, the company will find you alternative routes for when your flights get cancelled, as well as send you notifications from airlines about flight delays, cancellations, and more.

    ScoutMyTrip – Road Trip Planner
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    Airbnb

    easy trip apps
    Airbnb | App to Plan Trip

    Airbnb is one of the other the best travel planning apps. It lets you rent individual rooms, couches. After entering your destination and dates, you can filter results based on the home type, price, requisite amenities and more. You can access all your bookings under the “Trips” tab, where you can view your reservation, contact your host.

    Once you have booked, you can also book tours, shows, concerts and more.

    Roadtrippers

    best travel planning apps 2020
    Roadtrippers

    Roadtrippers plan your driving route, book hotels, and also activities along the way, it tells you the best places, things which lie nearby, you can have some great suggestions to include more fun in your experience. It currently works in the USA, Australia, and New Zealand. Sometimes you need to fly somewhere to experience the magic in this world.

    En routing to a new place can be a heavenly escape from one’s daily routine, travelling can be soothing music for people who are undergoing through hurdles. It is one just experience where you can embrace the essence of a new world.

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    TripHobo

    best travel apps
    Triphobo

    TripHobo slots in your interests, needs, and budget. It comes up with the ideas of what to do, it works well for your vacations, it suggests everything from flights to hotels, it lists hours of operation for all suggested destinations, along with maps and detailed routes, an offline view mode is available too for those times when your data connection is flaky, it is possible to view other travellers plans as well if you are in an unfamiliar place.

    There is a saying, ‘When you are in chaos, just travel’, you enter a new zone where you will get to learn so much from your experiences. This is the our list of trip planning apps to use. Just shape your trips with these simple travel apps to create a beautiful experience. So, which trip planning app do you think might work best for you?

    Let me know in the comment sections.

    FAQs

    What is the best travel planner app?

    • Hopper
    • Trip Case
    • Trip It
    • Airbnb
    • Roadtrippers
    • TripHobo

    What is Hopper?

    Hopper is a trip planning app that tracks flight prices and gives periodic updates on whether you should buy now or wait, you can book through Hopper with a commission fee of a few dollars.

    Is TripIt a good app?

    Yes, It is a good app.

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  • Top CRM Softwares For SaaS

    SaaS is capturing the attention of entrepreneurs worldwide and becoming a preferred choice for businesses of all sizes. In the United States alone, around 80% final users prefer using SaaS applications (in 2016, this figure was 52%). To increases the revenue of your SaaS business, you need to change your game and approach sales differently. More organized process, Faster access to data, Better team collaboration, Increased visibility into the sales process, plus round the clock availability has become the need of the hour.

    Investing in technology like CRM software can help you in controlling your overall sales outcome and improve the bottom line of your business. 64.2% of companies rate CRM tool as impactful or very impactful. Customers aren’t ready to wait; a delay in response can give them a reason to approach your competitors. What’s the use of running impactful campaigns and attracting potential prospect if they quit in the middle of a sales cycle? As per a study, 79% of marketing leads never convert into sales.”

    Best CRM Software That You Must Use

    Best CRM Software That You Must Use

    HubSpot CRM

    HubSpot customer relationship management (CRM) software is built for companies that want to spend less time logging data. It keeps all your contacts in one centralized, customizable database. It manages your pipeline so you can keep deals moving forward. And you can see everything about a lead in one place – no more digging through inboxes to find information. Start using the free HubSpot CRM today. It’s easy to set up and intuitive to use, so you can get back to growing your business.

    HubSpot CRM
    HubSpot CRM

    The HubSpot CRM is ideal for small and medium-sized businesses (10-200 employees) that are constrained by spreadsheets but don’t need much of the advanced features of complex enterprise-level CRMs.

    Zoho CRM

    Zoho CRM empowers small to large-sized organizations with a complete customer relationship life-cycle management solution for managing organization-wide Sales, Marketing, Customer Support & Service and Inventory Management in a single business system. Zoho CRM is for everyone, be it a small business or an enterprise. Sell smarter, better and faster with Zoho CRM.

    Zoho CRM
    Zoho CRM

    Zoho CRM pricing starts at $12.00 per month, per user. There is a free version of Zoho CRM and it also offers a free trial.

    Centra Hub CRM

    Centra Hub CRM is fully customizable, and integrated with sales, marketing, and service. It has excellent experience in offering highly customizable CRM solutions. Automates lead generation, nurturing, and support for all growing businesses. Centra Hub is a cloud-based CRM software that provides a centralized platform to execute business operations aligning in various verticals of an organization. It offers a highly customizable CRM platform for small, medium, and large enterprises.

    Any company which wants to automate sales, marketing, and service can use Centra Hub CRM. Also, industries like real estate, automobile management, facilities management, asset, retail, education, professional services, & project management can also benefit from its features.

    Centra hub CRM
    Centra hub CRM

    Centra Hub CRM pricing starts at $8.99 per month, per user. There is not a free version of Centra Hub CRM but Centra Hub CRM does offer a free trial.

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    Salesflare

    Salesflare is the intelligent CRM for small B2B businesses and startups, who want to sell more with less work. Salesflare automatically fills out your address book and keeps track of all interactions with the people you’re in contact with. It takes data from email, social media, company databases, phone, calendar and hands it to you in automated customer timelines that tell you everything you need to know. You just have to write the emails, make the calls, and have the coffee. Ideally suited for small B2B businesses and startups who want to sell more with less work.

    Salesflare
    Salesflare

    Salesflare pricing starts at $30.00 per month, per user. There is not a free version of Salesflare but it does offer a free trial.

    Bitrix24

    Bitrix24 is the leading free online CRM software used by over 3.5 million companies worldwide. It is available in cloud or on-premise with open source code access. Unlimited leads, deals, contacts, companies, quotes, invoices and appointment scheduling. The free plan also comes with email marketing and telephony. Advanced versions have sales and marketing automation, bulk SMS, campaign management and support for multiple pipelines. Available in 12 different languages, Bitrix24 is for companies and small businesses. It also suits remote teams who want to keep in touch and collaborate efficiently.

    Bitrix24
    Bitrix24

    Bitrix24 pricing starts at $39.00 per month. There is a free version of Bitrix24 and also Bitrix24 offers a free trial.

    Concluding Thoughts

    A little investment in the best technology can make a big difference to your business. A CRM technology can be very beneficial for your SaaS business provided you choose the right CRM and motivate your sales team to use it regularly. Here are few tips that will help you in making right decisions

    • Asses and identify your business needs before searching a CRM
    • Speak to your sales representative and create a list of features that they will require to close a deal successfully
    • Try the CRM before investing in it
    • Choose a CRM that grows with your business
    • Research about the CRM and read various reviews

    Which CRM do you use for your SaaS? Please let us know in the comments section below.

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    FAQs

    What is CRM software?

    CRM is an acronym that stands for customer relationship management. Customer relationship management is any tool, strategy, or process that helps businesses better organize and access customer data.

    What does CRM software do?

    A CRM tool lets you store customer and prospect contact information, identify sales opportunities, record service issues, and manage marketing campaigns, all in one central location and make information about every customer interaction available to anyone at your company who might need it.

    What are the Benefits of CRM Software?

    • Better knowledge of customers
    • Better segmentation
    • Better customer retention
    • Better anticipation of needs
    • Better and speedier communication
    • Better protection of data privacy

    How to Boost Customer Retention?
    Customer churn is the SaaS kryptonite. It is what scares SaaS founders the most,and they are always innovating ways to beat it. Customer[https://startuptalky.com/tag/customers/]Retention is one of the most crucial andcost-effective SaaS retention strategies. Customer Retention = (Number of Custo…
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  • The Date House – The Brand For Luscious But healthy Foods

    In the last decade, all we ever saw was the emergence of health standards be it in the FMCG sector or the hospitality sector. It’s not that the authorities had started giving it much importance, but it’s the consumers who have started paying close attention to what they are eating and how healthy- environment and nutrition-wise it is! With the same vision, Mr. Ashish Dang started The Date House in 2018.

    The Date House is all about bringing luscious but healthy varieties on the table. Extending the usage of dates into products such as jams, spreads, and cookies. Also, they aim to pioneer in bringing luxurious and hygienic products to the table.

    The Date House Highlights

    Startup Name The Date House
    Headquarter Jalandhar
    Founder Ashish Dang
    Sector Health & Wellness Food
    Founded 2018
    Registered Entity Name Ashban Impex Pvt. Ltd.
    Website www.thedatehouse.com

    About The Date House and How it Works
    The Date House – Target Market
    The Date House – Founders and Team
    How was The Date House Started
    The Date House – Name, Tagline and Logo
    The Date House – Business Model and Revenue Model
    The Date House – User Acquisition
    The Date House – Startup Challenges
    The Date House – Competitors
    The Date House – Future Plans
    The Date House – FAQs

    About The Date House and How it Works

    The brands consumers eat, drink and wear have become an expression of whom they aspire to be. Lab-created artificial and “natural” flavors are not in demand; consumers want real ingredients from nature. Consumers are seeing their purchasing decisions as a form of activism – they are “voting with their dollars,” supporting companies that align with their personal beliefs and hope for the future. That’s where the idea of THE DATE HOUSE took birth.

    Healthy premium food products where the base is Natural product; what can be better than Dates & nuts. The Date House is all about bringing the best of natural products from all across the globe. Also, other products derivatives are based upon the natural food product.

    The Date House's premium filled chocolate dates
    The Date House’s premium filled chocolate dates

    The Date House – Target Market

    The global wellness industry grew 12.8 percent from 2015-2017, from a $3.7 trillion to a $4.2 trillion market. To put that in the economic context, from 2015-2017, the wellness economy grew 6.4 percent annually, nearly twice as fast as global economic growth (3.6 percent).

    The Indian Market specifically is also showing a highly positive trend in Health & Wellness food segment.

    A new FICCI-PWC report, ‘The changing landscape of the retail food service industry’ identifies ‘health and wellness’ as one of the factors driving the Indian food services industry, which totaled Rs 3,37,500 crore in 2017. The food services business is expected to grow to Rs 5,52,000 crore by 2022.

    The focus on health and wellness is because of a growing recognition of the need to eat right, the report states.

    The Date House's Filled Dates
    The Date House’s Filled Dates

    The Date House aspires to develop the food industry into a transparent, healthy and socially responsible business. It envisions to create better alternatives to traditional sweets and create a more sustainable market for the customers. And they strive to do so by educating the customers to adopt healthier alternatives. Also, they aim to pioneer in bringing luxurious and hygienic products to the table.

    The Date House – Founders and Team

    Ashish Dang is the founder of The Date House.

    Ashish Dang is a B Tech and MBA (Retail & Marketing) by qualification. He has 11 years of international retail experience and worked in Senior Management role for 8 years. Based in Dubai, Ashish handles idea creation, strategic, procurement, marketing, deriving business & pricing model, and is also exploring overseas opportunities for The Date House.

    The other core member of the founding team is Pankaj Rattan. Pankaj holds a Bachelors’s Degree in Commerce and has over 15 years of experience in international retail. Based in India, Pankaj looks after sales & distribution, local vendors management and operations management tasks for The Date House

    Ashish and Pankaj worked for 2 years together in Amman, Jordan for a large retail group. They connected well from the start and had a really good synergy since then. Pankaj has always been very passionate about his work and his understanding of business expansions were amazing. He grew the Kidswear brand he worked for to 4 times its size within 2 years. So, it was clear that Ashish wanted someone like him to join in this journey.

    Once this idea of a healthy sweet alternative for the India market stuck in his mind, Ashish approached Pankaj and he was on board immediately. Since then, they have moved forward strong and undivided in both personal & professional bonds. The family support was also strong. As Ashish quotes-

    Family also has been great support where House ladies(Bandna (My Wife) & Deepika (My Sister inlaw) are chocolatier who looks after the production of chocolates & chocolates. Bandna has studied the art of making chocolates from International Center for Culinary Arts, Dubai

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    How was The Date House Started

    After decades of traveling and tasting sweets from all over the world, sampling specialties from every place they visited, one thing was consistent: the unfamiliarity of ingredients used. Local shops provided delicious fare, but with no information about how the sweets were made, of hygiene and most importantly, health. That is when they thought of the healthiest sweet alternative of them all: dates. Not just delicious but immensely healthy, dates satisfied our sweet cravings and our health needs – and that led to the birth of The Date House.

    They wanted to take the exotic dates all across, and so they not only invested in the sourcing but also in the packaging. They have a team of renowned designers who work on each aspect of designing and packaging. The idea is that customers get the pack of goodness in an appreciative and beautiful pack.

    The Date House's Ajwa Dates
    The Date House’s Ajwa Dates

    The sample run of the product was done last Diwali season to understand consumer behaviors and reactions to it. They launched it in tier-2 cities in a few retail stores and response was amazing all the inventory was sold in half the time. So after that, they spent some good 6 months in packaging & marketing elements of it. Now, the product is ready for Global Audience too.

    For the name, they wanted to have something simple still which can be joyful later if the brand needs to move in that direction, and what’s better than The Date House. Product messaging is clear through the brand name, and it has enough room to be playful. For ‘The Date House’ logo, a very talented design team was hired who gave birth to the date house logo. The eye-catching part is that the logo incorporates both T & H in the form of a Date tree.

    The Date House Logo
    The Date House Logo

    The Date House – Business Model and Revenue Model

    The Date House typically has two business models in place:

    Distribution model (Exclusive and Non- exclusive): Distribution for a specified area will be provided to the stakeholders. It will be of 2 types: exclusive and non-exclusive.

    Exclusive Distribution provides the benefit that all the retailers and non-exclusive distributors will be fed through this channel for that region except for franchise stores. Exclusive distributors will be eligible for a special price to the distributor to provide minimum annual order commitments which to be agreed at the time of signing the distribution agreement.

    Non- Exclusive distribution partners are eligible to sell the products in the defined area and products will be provided through Exclusive distributor. In the event of No availability of exclusive distributor, Non-exclusive will be fed directly by The Date House.

    Franchise store model (Franchise Kiosk in A & B grade Mall or own property in premium location): The team understands what is required to have a profitable venture which is high space productivity and constant value addition. They have small space requirements only which are around 80- 120 sq meters for own store and 150 sq meters for a flagship store. All the franchise stores will be provided all the elements of store design, product details, staff training, and all the products directly by The Date house

    The product pricing starts from INR 175 to INR 1799 and the following products are already launched in the market:

    • Pitted Dates
    • Medjool Dates
    • Premium Filled dates with imported Nuts
    • Chocolate Dates filled with Nut inside
    • Ajwa dates
    • Honey Oats Date Cookies
    • Coconut Crunch Cookies
    • Honey Almond Cookies

    They are also in the process of launching Date Jam, Date spread & Date paste as a healthy alternative for the customers

    The Date House – User Acquisition

    They went with the two-fold strategy to reach the right kind of physical stores and educating people through our social media campaigns. The main challenges lasted only a few months which was to find the platform to reach the end customers. Once they figured that out after convincing only a couple of retailers about the potential in this product and future of a healthy food product line, the journey gained its pace. After initial sampling, the response was amazing from the customers which provided the confidence to take it to the next level. A mix of Online orders and repeat retailer orders took them through the first benchmark of 100 customers.

    After understanding the potential in the first few months, they wanted to reach prominent gifting players in the market. The Date House wanted to operate as a healthy & premium alternative to available high sugar traditional sweets.

    Hence they participated in the Gift Expo exhibition in Delhi this year. It gave them the platform and a wider audience. This Diwali had a lot of leads from the exhibition which helped them reaching to a wider audience. As a new startup who has a solid product are looking for bigger opportunities & stronger alliances; they want to keep innovating with their products and packaging to remain exciting enough.

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    The Date House – Startup Challenges

    The Major challenge was changing the perception about dates. In most parts of India, it is considered a sticky winter fruit. Not many people have tasted the best of the dates available and very few with exploring the taste of it when combined with Nuts. Also to have an idea of going for chocolate dates with nuts was a bit difficult to sell initially unless people start trying it. But the most encouraging thing was when people tried the product and they just loved it. They liked the taste & texture of the product. The Date House sources all the dates from Middle Eastern countries. Even the nuts used are from the best available sources like pistachio from Iran, Walnut & almond from the USA. A lot of sampling goes behind the product and here, it is a continuous process. Also, they have used our website & social media quite a lot in educating customers about our product.

    The Date House – Competitors

    The world of Indian desserts witnessed a major change when the trusted local halwai was overtaken by branded, multi-store chains such as Haldiram’s and Bikanervala. Though this was more than half a century ago, there is once again a similar uprising, albeit a quieter one and for a more discerning audience. Several gourmet mithai makers have stepped onto the scene, taking basics such as besan laddoo, khoya barfi, Kaju katli et al a notch higher by introducing a variety of sweets in a combination of dates. Some of these brands are Gur Chini, Arq, Khoya to name a few.

    The Date House – Future Plans

    The Date House operates from Jalandhar as they have the right infrastructure to reduce the Capex for them. Also, The Date House has a distribution office in Mumbai & Coimbatore each. Sourcing is being done by their Dubai team.

    The first year into the business, the future looks promising but they also have a challenge of breaking the common perception about dates. The majority of Indian audiences will take some time to accept dates as an all-season product, so they are widening the portfolio with cookies, jams, and many more products to ensure that Indian summer is also included.

    The team envisions to globalize ‘The Date House’ into a premium healthy brand. They are working to provide pan India availability of the products for A & A+ stores in all metros, and franchising and expansion of The Date House. The company is  also targeting to open Kiosks in tier 1 & tier 2 cities malls from next year.

    The Date House – FAQs

    What is The Date House?

    The Date House is a top online brand you can shop online on LBB. Buy Food & Beverages, Snacks online from The Date House.

    Who is the founder of The Date House?

    Ashish Dang

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  • These companies are Enjoying the Monopoly in India

    A Monopoly is a situation in the market when a specific company or an enterprise is the only supplier of a particular product in the country. India has some companies in which have a monopoly in the market. Let’s look at the companies which have a monopoly in the Indian market.

    IRCTC
    Coal India
    ITC
    Pidilite
    Nestle
    Marico
    Hindustan Zinc
    HAL
    FAQ

    IRCTC

    IRCTC has a 100% monopoly in their respective sector in the Indian market. IRCTC stands for Indian Railway Catering and Tourism Corporation. IRCTC is a subsidiary company of Indian railways which involves in providing services such as ticketing, catering and tourism.

    The company was founded in the year 1999 and has its headquarters located in New Delhi, India. The Company in the beginning was fully owned by the Government of India under the control of Indian Railways but during the year 2019, the company was listed on the National Stock exchange (NSE). The majority shareholding is still with the Government of India.

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    Coal India

    Coal India has an 82% monopoly in their respective sector in the Indian market. Coal India Limited is also a company which is undertaken by the Government of India. The company was founded in the year 1975 and has its headquarters in Kolkata, India.

    Coal India is the largest coal-producing company in the world. The company is also a Maharatna public sector undertaking. The company has a contribution of around 82% of the total coal production in India. Coal India is owned by the Union Government of India and its operations are taking place through the Ministry of Coal. It is the 8th most valuable company in India.

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    ITC

    ITC has a 77% monopoly in their respective sector that is the manufacturing of Cigarettes in India. ITC Limited is an Indian based multinational conglomerate. The company was founded in the year 1910 and has its headquarters located in Kolkata, India.

    ITC has a monopoly over their cigarette brands in the country other than that they have a wide range of products and services such as Hotels, FMCG, Packaging, Paperboards, Agribusiness and Specialty Papers. The company was formerly known as India Tobacco Company limited and later in the year 1974 it was renamed as ITC Limited where ITC doesn’t stand for any acronym.

    Pidilite

    Pidilite has 70% monopoly in their respective sector in the Indian market. Pidilite Industries Limited is an Indian based manufacturing company. It was founded in the year 1959 and has its headquarters located in Mumbai, India.

    Pidilite Products
    Pidilite Products

    The company is mostly involved in the manufacturing of adhesives and also has its monopoly share in the adhesive manufacturing sector. Other than this the company is involved in consumer products such as art materials, food and fabric care, car products, stationery materials, etc.

    They are also involved in the manufacturing of specialty industrial products such as industrial pigments, industrial adhesives, textile resins and leather chemicals.
    One of the major brands under Pidilite is Fevicol.

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    Nestle

    Nestle has a 97% monopoly in their respective sector that is Cerelac in India. Nestle is a Switzerland based multinational conglomerate. It was founded in the year 1866 and has its headquarters in Vaud, Switzerland. The company is involved in the manufacturing of food and drinking products. Nestle is the largest food company in the world.

    Nestle Products
    Nestle Products

    Cerelac is an instant cereal which is manufactured under Nestle. Other than this Nestle has a wide range of products such as baby food, medical food, bottled water, coffee and tea, dairy products, confectionaries, ice cream, chocolates, frozen food, pet foods, etc.

    Marico

    Marico has a 73% monopoly in their respective sector that is Premium Edible Oils in India. Marico is an Indian based company. The company was founded in the year 1990 and has its headquarters in Mumbai, India. Marico is one of India’s leading companies in the consumer goods sector.

    Other than Premium edible oils the company has a wide range of products and brands such as hair care, skincare, male grooming, health foods, fabric care, etc. Marico has its presence in almost 25 countries across Africa and Asia.

    Hindustan Zinc

    Hindustan Zinc has a 78% monopoly in their respective sector that is the manufacturing of Zinc in India. Hindustan Zinc Limited is an Indian integrated mining and resource-producing company. The company is undertaken by a Central Public Sector. The company was founded in the year 1966 and has its headquarters located in Rajasthan, India.

    The company is involved in the mining and resource production of zinc, lead, cadmium and silver. In the year 2003 Hindustan Zinc was sold to Vedanta Ltd. Currently, the company is a subsidiary company of Vedanta Ltd.

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    HAL

    HAL has a 100% monopoly in their respective sector in the Indian market. Hindustan Aeronautics Limited which is commonly known as HAL is an Indian company that is owned by the state. The company was founded in the year 1940 and has its headquarters in Bangalore, India. HAL is an aerospace and defense company.

    HAL is involved in the operation of aerospace and is also involved in the design, assembling and fabricating of aircraft, jet, engines, helicopters and their spare parts. The company is governed under the management of the Indian Ministry of defense.

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    FAQ

    What is a good example of a monopoly?

    A monopoly is a firm who is the sole seller of its product, and where there are no close substitutes. Examples: Microsoft and Windows.

    What are the 4 types of monopolies?

    Natural monopoly, Geographic monopoly, Government monopoly, and Technological monopoly are 4 types of monopolies.

    Is Coca Cola a monopoly?

    Coca-Cola, Pepsi, etc are not a monopoly because they are in one of the most crowded industries – Drinks and Soft Drinks.

    Conclusion

    These are the top companies that has a monopoly in the Indian market. A monopoly market has its own benefits and disadvantages. It is always good for a country to have a mixture of companies with some monopoly companies.

  • 6 Ways – What Makes A Successful Business Partnership

    We constantly see people and companies collaborating with each other to bring about successful outcomes. However, it is not as easy to work in collaboration with people and companies as one might think. When one starts working in collaboration lots of things come into play. Many compromises have to be made in order for the partnership to flourish.

    According to a report, 70% of business partnership fails. But fret not, here we are with amazing tips to help you establish a successful and healthy business partnership which will help you and your partner grow to great heights. Read on to find out how to have a successful business partnership?

    Have a common mission
    Respect your partner
    Have a team managing your partnership
    Keep assessing the profits
    Be compatible
    Define your roles

    Have a common mission

    Two people cannot work together if they have different mindsets. So it is very important for both the partners to think on the same lines for achieving the same goals of business. Sitting face to face and getting to know each other better is the key to a successful partnership. If your goals clash or your ways of thinking do not match, then there is a huge possibility of disputes which can bring losses for both the parties involved.

    Respect your partner

    One doesn’t partner with someone unless they can see a profit involved. If one has established a partnership with someone either the company is extremely successful or of some advantage to the collaborating party. Your partner has overcome numerous hurdles to reach high levels of success; hence, it is not a good idea to consider your partner less than you in any aspect. They might be having knowledge about strategies that you do not know about.

    Therefore, it is advisable to make this relationship a give and take one. Respect the capabilities and capacities of your partner. Also, any partnership, be it business or personal, is based on trust. In order to trust someone, you need to know them better. So, take time outside of work in knowing about each other’s goals and develop an understanding of each work ethics.

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    Have a team managing your partnership

    how to have a successful business partnership
    Team – Business partnership

    When two big and successful companies or organizations collaborate with each other it is mandatory to  form a team that will look after the terms and conditions of the partnership and manage the transactions that take place between the two partners. This team will serve as the bridge to facilitate relationship building and consistent communication. Maintaining healthy partnership takes both time and capacity, so, it is important to appoint capable staff that can ensure success of the partnership.

    Keep assessing the profits

    how to have a successful business partnership
    Profit Analysis

    Regular assessment of the achievement of goals and the profit that is coming from the collaboration should be done. Proper statistical data should be analyzed and any sort of issues should be resolved quickly and precisely. Constant analysis of the numbers can give a clear indication of whether the collaboration is profitable or not. A partnership that does not benefit anyone should not be continued any further.

    Be compatible

    Two partners with the same type of skill set are of no use to either company. One does not have to essentially have everything in common. Having a comparable relationship is what makes a business partnership successful. If you lack something and your business partner has that skill, they can provide you with assistance in that field and if you have a certain skill set that they could benefit from then you can assist them with it. It needs to be a healthy relationship where skills and knowledge can be equally shared. Each partner should realize the potential of the other and team up in a way that both can profit from it.

    Define your roles

    For any partnership to flourish every individual involved needs to know their roles with accuracy. If the roles are not clearly laid out work processes would become chaotic. It will be difficult to come to a conclusion if everyone starts acting like the head of the company. To avoid any commotion of this kind, clear roles need to be set for everyone and everyone should respect their tasks. Interfering in other work may cause disputes making the partnership suffer and often leading to its downfall.
    Apart from keeping these in mind, working meticulously to reach the goals as put down during the establishment of the partnership will help in making the collaboration bear fruits of success.

    Conclusion

    Building a Successful Business Partnership is a long-term process. It can’t happen overnight. As long as you progress, you will find different challenges and you need to overcome those to make your partnership successful. These are the important keys to successful business partnerships. I hope the above tips will help you to build a successful business partnerships. Share your thoughts on the comment section.

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    Successful Business Partnerships – FAQs

    What are the characteristics of a partnership?

    5 major characteristics of a partnership

    1. Existence of an agreement
    2. Existence of business
    3. Sharing of profits
    4. Fusion of ownership and control
    5. Non-transferability of interest

    What makes a partnership successful?

    • Have a common mission
    • Respect your partner
    • Have a team managing your partnership
    • Keep assessing the profits
    • Be compatible
    • Define your roles

    What are the objectives of a partnership?

    The main objective of any partnership is to bring together the resources and skills of multiple business owners so that they can operate with more efficiency and can even reduce competition in the market.

    How to have a successful business partnership?

    6 Tips for having a successful business partnership

    1. Have a common mission
    2. Respect your partner
    3. Have a team managing your partnership
    4. Keep assessing the profits
    5. Be compatible
    6. Define your roles

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  • How To Grow A Moving Company Business In 2021

    A moving company helps people and businesses move their goods from one place to another. This post will tell you five ways through which you can grow your moving company in a couple of months. If implemented correctly, you can expand your moving business from zero to more than $2 million a year in sales in under two years. However, it’s important to understand the moving industry before anything else.

    There are different types of moving companies you can choose from. You should decide if you want to provide only moving labor services or become a full-service, coast-to-coast mover.

    The moving industry is a large and rapidly growing entity, and this has been a trend for some time. With the relocation industry being as competitive and dynamic as it is, new moving companies keep popping up daily. Here’s how you can expand your moving company business amid high competition.

    Getting More Leads
    How Can You Increase Conversion?
    Clients To Buy More Services
    Clients To Buy More Often
    How Can You Increase Your Profit Margins?

    Getting More Leads

    Competition is high and to generate more leads for your moving company business, you have to work hard on the marketing aspect. Regardless of whether you’re getting leads from thumbtack, HomeAdvisor, Google AdWords, Facebook ads, YouTube ads, postcards, or through some other medium, the fact that you are securing potential clients is important. Go to events where realtors are likely to converge so that you can connect with more realtors. It doesn’t matter if you’re using LinkedIn to engage with realtors as long as you get quality leads. If you go for a third party website that sells leads, be prepared for a compromise in quality; the difference between running your own lead generation campaign and asking someone else to help you with the same is quite significant.

    Moving Company Business
    Moving Company Business

    You have to make a list of the lead sources you have used so far. Which leads worked for you and brought you good ROI and which ones didn’t? Only that can be grown which can be measured. For example, to know which leads bring you the best on investment, you need to have a customer relation management (CRM). You need to tag those leads based on where the lead sources are coming from. It’s important to know what leads you are using and how much you’re spending for those leads. How many of them convert into actual sales and what is the average move coming out of every lead source? The moment you understand all of this, you’ll be able to procure quality leads and have a higher percentage of lead generation.

    How Can You Increase Conversion?

    Improve Conversion Rate - Moving Company Business
    Improve Conversion Rate

    Converting leads into actual customers is the next step. There are several ways of converting potential clients into permanent customers. Following up is one method. You can set up automated follow-up emails, and notifications for your sales team or yourself (if you’re a one-man show in terms of you running the dispatch).

    Automatic follow-up is a huge help because you don’t need to constantly remind yourself about pending tasks and adjusting your calendar. It can be text message, email, or some other kind of follow-up. In terms of email follow-up, you can use different techniques; click funnel is one example. It is a landing page with a full automated follow-up. And you don’t have to pay for it.

    It collects data like the customer name, email, phone number, and zip code. The moment your customer hits submit, the automation kicks in. You shouldn’t send a quote to a lead without talking to him or her over the phone. And don’t try selling to sell them on the first call itself. If they don’t book then a follow-up message goes. If the customer books your offer, another follow-up email is sent that encourages the customer to buy more supplies, storage, valuation coverage, etc. Retargeting existing clients is another technique you can employ. Show them the testimonials you have received (along with success stories). This is a cost effective way of client retention.

    Ensure you have a sales script. Use that script when you or your sales team is presenting a sales pitch. In the moving industry, lead conversion can be challenging. But once you have ample testimonials that show your success in the moving business, conversion should become easier. If you are looking for a moving company in the UK, go to this link and start connecting with the company

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    Clients To Buy More Services

    What does this mean? You should charge a deposit. The mandatory point is that people should not be allowed to book their move without paying the deposit. Nonetheless, “clients to buy more” means if somebody has booked a move with you, they should be up-sold into buying supplies.

    You can use a program or software or app like updater. When is the best time to convince somebody to buy more? The moment they pull their credit card, raise their hand, and say, “I’m a buyer I want to move with you “. So you need to have a system in place when people pay for their deposit to be able to upsell them right there. Click funnels allow upselling people without them having to enter their credit card information. For example, when people put their information and when they hit submit, a pop-up shows up and it will ask them would you like to add a six thousand dollars and nine thousand dollars worth of coverage for an additional ninety-five or pay hundred twenty-five at the time of the move. People always want to curtail the amount.

    So that’s how you make clients buy more. The next step in the up-selling process can be moving the supplies. So when people pay the deposit, you ask if they would you like to add moving coverage. Three out of ten will say yes (30 % conversion rate) and out of that 30 %, another 70% will buy the supplies because it’s the next logical step in the process. So when they click submit, a pop-up appears, “Hey do you want to add coverage?” With this scenario, you can decide what’s your profit margin and decide on how to increase the profit.

    The last step in the process is down to sell or down-sell; it’s something lower in the sales funnel. You ask, “Would you like to save 6 hours and have us change all your addresses?” Now you can show a video where you thank the customer for booking the move. This way, you can offer more services to client and your moving company business will grow faster irrespective of the competition in the industry.

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    Clients To Buy More Often

    Customer Retention In Moving Business
    Customer Retention In Moving Business

    People don’t just randomly move three or four times in a year. Some people may if they have a business. It’s important to know if they want to move often.

    They need to find out about you and this comes in the form of your lead generation efforts. You need to sell them and make great offers at the same time. For example, the customer gets a 5% discount every time he or she uses your moving business’s service. In one year if they use your moving services four times, you have retained them permanently and don’t need to pay again for retention. If you don’t want to give discounts for returning customers, think about how much money you may have to spend for acquiring a new customer.

    It’s important to make more offers so that customers come back to you on and on. On top of that, you need to inform them that they will be entitled to amazing discounts if they decide to move back.

    Have an email saying thank you sent to them after they move. And let them know that you offered them this discount. Some people don’t assume that you do so you have to let them know. Your customers should become your brand ambassador and bring word of mouth publicity.

    How Can You Increase Your Profit Margins?

    Though every moving company is different, the underlying core strategies and policies are the same. Depending on how you decide to offer your service, how you decide to pay, how you decide to charge (credit card, cash, or check), and other factors, chalk out a plan to increase your profit margins. The first couple of places that you should pay attention to is how track your lead. Next, make your customer buy more by adding supplies and valuation. This way, you can make a profit without acquiring another customer. Focus on maximizing the value addition for each of your customers. And see the margin increase on its own.

    Conclusion

    If you have some people and a vehicle that you can use as a moving van, starting a moving company is a realistic way to make extra income or even a full-time salary. Like any business, it will require a lot of research and hard work as well as some start-up capital. However, the rewards are equally huge. Follow the above tips to grow your moving business and let us know in the comments if you found them useful.

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    FAQs

    How to grow a moving company?

    • Lease a Truck
    • Hire Part-time Employees
    • Grow Your Networks
    • Shorten Your Receivable Period
    • Use Credit Cards Wisely
    • Empower Your Employees & Control Fuel Costs with Business Prepaid Cards
    • Get Social & Ask for Reviews and Testimonials

    Is owning a moving company profitable?

    Yes, owning a moving company is profitable.

    How to start a moving company?

    Steps to start a moving company:-

    • Draft a business plan
    • Moving and transportation permits
    • Purchase moving equipment
    • Moving and transportation insurance
    • Advertise your new moving company business
    • Purchase moving leads

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  • Why Streaming Platforms Are Focusing on Women-Centric Content?

    From the iconic and path-breaking ‘Mother India’  to the flashy and entertaining ‘Four More Shots Please’, entertainment industry in India has come a long way and along with that came the entirely new and engaging era of OTT platforms such as Netflix, Prime Video, Disney+ Hotstar and many more.

    However, this article is not about the success or the net profit generated by these streaming platforms every year. India’s entertainment industry is one of the most profitable industries with a revenue of over $34 billion, and recently, a fundamental shift has been witnessed in the industry as streaming giants like Netflix and Prime Video are targeting and expanding female audience.

    Women represent a key demographic for the Indian entertainment industry and thus the need of the hour is to have diverse cinematographers, storytellers, writers, directors, and actors share their unique perspectives in raising the bar of the entertainment industry by the increased inclusion of women-centric roles.

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    Streaming Platforms Are Focusing on Women Centric Movies

    Four More Shots Please! | Amazon Prime Video

    “More than half of Netflix films released in India this year have a female producer or director, according to Monika Shergill, Netflix India’s vice president of content. Netflix saw unique women visitors jump to 40% last year from 26% in 2018, according to Comscore data. The Los Gatos, California-based company is working with 30 women producers and directors besides a dozen women writers this year, Shergill said.”

    The fundamental shift in the industry has been viewed as a consequence that all of Amazon Prime Video’s six originals released in India this year had women in key roles while more than half of Netflix films had a female producer or director.

    Also, OTT players were keen enough to target female viewers as soon as the movie theatres were shut to the coronavirus induced nationwide lockdown. We witnessed a surge in women-centric content such as ‘Masaba Masaba’ and ‘Bulbbul’ on Netflix to ‘Pushpavalli’ on Amazon Prime.

    Still from Masaba Masaba | Netflix

    Bollywood industry which earlier relied on an A-list male superstar in lead to top the charts and become a blockbuster is now focusing on the push for equality by giving females leads the chance and choice related to the content targeted on them. According to data from Statista, as incomes rise in the $2.9 trillion economy, per capita spending on media and entertainment is expected to almost double to $35 in India by 2021 from five years earlier.

    Traditionally, watching movies and shows were considered as a group activity, however, with the surge in the use of smartphones and streaming platforms, people can watch what they want, where they want, and by themselves on their personal devices. Thus, content creators and streaming platforms are now able to provide target based stories and cater to niches.

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    A 2016 study by Google and A.T. Kearney estimated that Indian women’s share in overall online spending will jump to 42% by 2020 from 20% in 2015 whereas, a 2019 study by the Boston Consulting Group said Indian women are increasingly having a say in household purchase decisions.

    Creative Freedom

    Scene from Bulbbul | Netflix

    One additional benefit of streaming platforms is the prospect of less financial risk compared to contemporary ways. Thus, producers are also ready to take the liberty of creative freedom and experimenting with characters. Prominent examples of this, Netflix film Bulbbul, a supernatural film in which a woman is mistaken for a witch, Gunjan Saxena, a biopic about India’s first woman combat pilot who went to the Kargil war and Amazon Prime’s series Four More Shots Please, which openly addressed taboo issues such as female sexuality and homosexuality.  Thus, better access to the Internet is motivating creators to pitch stories that resonates with females.

    Also, India’s experience throws light on the worldwide trend in which more women are involved in the creation of streaming content directed toward women. Netflix had women helming 20% of its 53 original U.S. films last year, nearly double the rate of representation for women directors across the 100 top-grossing U.S. films of 2019.

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