Mumbai: For all its benefits, Mumbai has always had a problem of space, and students preparing for professional examinations feel this the most.
Rajesh Apte (28), a Panvel resident who was preparing for his Chartered Accountancy finals in 2011 was no different. At home, there would always be distractions like television and the internet, to name a few, and libraries and municipal reading rooms in the vicinity had major flaws: rigid timings; unprofessional managements and the lack of basic amenities.
“Most reading rooms had poor accessibility. With just a few months left for the examination, it was not possible for me to go to far-flung libraries or reading rooms which had comparatively better facilities,” says Mr. Apte. Also, as most libraries did not have a reserved booking option, Mr. Apte would often fail to find a seat for himself and had to wait till there was a vacancy. “This resulted in a great loss of time.”
Mr. Apte failed to clear the examination twice despite the fact that he was on the Class XII merit list. Then, along with some friends, he rented an apartment at Kalamboli and cleared the examination in 2012.
While preparing for his CA exams, Mr. Apte met Ashish Gharat (27), who was in a similar situation. He lived in Uran, where there are no reading rooms, and had to join a library at Vashibefore his finals, which took him three hours to reach. “I always felt that there is a need for a professionally managed and digitised reading space for professional students who spend 10-12 hours a day for preparing for the exam,” says Mr. Gharat, who completed his Chartered Accountancy in 2012.
An exclusive space
After completing his CA, Mr. Apte joined Evosys in Ahmedabad, a consultancy that deals with Oracle Cloud implementation. “I wanted to work in ERP (Enterprise Resource Planning Software) right from the time I was pursuing my CA Final. At Evosys, I joined as a fresher.”
In Ahmedabad, he met Devavrat Mastakar (27), another chartered accountant, through a common friend and there was an immediate bonding. Like Mr. Apte, Mr. Mastakar too faced difficulty preparing for the examination due to the lack of a reading space.
Mr. Apte joined TCS, Mumbai, in 2015. In 2016, he married Aditi Apte, who was doing her articleship in the same CA firm in Mumbai as he.
While at TCS, Mr. Apte was homebound due to an illness for a fortnight. During this time, he saw how difficult it was for his wife, who was preparing for her CA finals, to study in the limited space at home.
“I felt an urgent need to start a reading space for all students,” says Mr. Apte, who worked out a basic revenue model for the idea and shared it with Mr. Gharat and Mr. Mastakar, who readily agreed to join in.
Readitorium Solutions was unveiled in July 2016 with Mr. Apte as founder and Mr. Gharat, Mr. Mastakar and Ms. Apte as co-founders.
Customer survey
To understand the needs of students for such a facility, Mr. Apte, along with his friends, conducted a survey among students. “The survey enabled us to understand that the chief requirement of the students is comfort, accessibility, flexibility of timings and affordable rates,” says Mr. Mastakar.
The challenge was to find a place that would give students access to public transport, worked on fixed-cost budgets, and provide the relevant facilities to students.
With their savings and a small loan, the team opened a reading room in Glomax Mall, Kharghar, for Rs. 10 lakh. The mall was at just 10 minutes’ walking distance from the railway station and was relatively quiet -- 70% is still unoccupied.
“Kharghar, called the educational hub of Navi Mumbai, was the unanimous choice for starting the place,” says Mr. Gharat.
While initially, there was a plan to provide 50 tables, only 42 personal cubicles were finalised as the team felt it would be uncomfortable for the students,” says Ms. Apte, brand manager for Readitorium.
The reading room is air-conditioned with sound-proof cubicles. “Each student is given a private table space with laptop recharge points, ergonomically comfortable chairs, a wifi connection, clean drinking water and hygienic washrooms,” she says. Readitorium is open from 8 am to 11 pm every day.
Price structure
Readitorium provides five different plans, with monthly and quarterly payment options. The six-hour plan (8 am to 2 pm) is priced at Rs. 1,200 per month; the nine-hour plan (8 am to 5 pm and 2 pm to 11 pm) is priced at Rs. 1,500 while the 12-16-hour-plan (8 am to 11 pm) works out to Rs. 2,200.
What customers say
In a year, Readitorium has drawn in more than 250 customers. Says Nitesh Mishra (25) who is preparing for his post-graduate medical examinations and has been coming to Readitoriumfor a year, “I used to study in a library while pursuing my MBBS from a medical college in Dhule. I find the atmosphere at Readitorium peaceful. Thanks to the air conditioning and good seating, it is easier to study here from 8 am till 11 pm. Moreover, it is economical.”
Mahendra K. Singh (26), who is preparing for the DG shipping examination, finds the concept unique and the environment conducive to studying. For Jenny Jain (21), who is preparing for her CA examination, Readitorium is a ‘second home’. “I was looking for a reading room in Navi Mumbai as I found it difficult to study at home. Readitorium is the right place for every student. With no disturbance, it is easier to concentrate; in fact, most students here are able to study more than the targeted portion.”
Expansion plan
Readitorium is all set to open its second branch, a round-the-clock study centre, in Panvel on September 5, 2017. “An ERP software is in progress for managing students’ admission end to end, and to digitise operations and controls,” says Mr. Apte. “We also plan to start an automated pricing system with an hourly unit and a mobile app.”
The ultimate goal is to be, “India’s first branded chain of new-age reading rooms.”
