Ma Foi founders start afresh

K. Pandia Rajan (left) Founder, Ma Foi and Latha Rajan, Co-Founder, at a press conference, in Chennai on Thursday. Photo: Bijoy Ghosh   | Photo Credit: Bijoy Ghosh

Lot of entrepreneurs find running a start-up more challenging than running an established organisation. They either sell off what they had created or hand it over to a professional management to start all over again. Husband and wife duo K. Pandia Rajan and Latha Rajan, who have been in the HR staffing solutions business for two decades, have decided to exit fully from the their maiden venture Ma Foi Management Consultancy and start afresh by floating a brand new outfit.

The couple started a HR staffing company in 1992 under the name and style of Ma Foi Management Consultancy Ltd. A few years ago, Randstad, the second largest HR company in the world, acquired an equity stake in the company.

Their new venture would be in the management consulting and education space. The new company, christened Ma Foi Strategic Consultants Pvt. Ltd., proposes to have three verticals — strategic engagement with organisations; research and analytical organisation; and management education and professional development.

Under strategic engagement with organisations, the company would provide end-to-end solutions. The company would provide consultancy and also execute the proposal. It has already tied up with four companies in e-learning, information technology, media and retail. In research and analytical, it plans to acquire three-to-four companies across the country. By the end of this year, it proposes to open eight offices across the country, according to Mr. Pandia Rajan.

Mr. Pandia Rajan said under the education vertical, the company would set up two business management schools — one each in Chennai and Madurai. Both these management schools would be operational by the end of next year. The eventual plan is to start a chain of management schools on a franchisee model.

In the next three years, Ms. Latha Rajan hoped the company would have pan-India presence. The total investment would be over Rs.25 crore in the first three years.

Mr. Pandia Rajan said the new company had got into an agreement with Randstad for using the brand Ma Foi for three years. Eventually, the brand would be bought over, depending on the legal approvals.

Under the agreement, Mr. Pandia Rajan was allowed to use the brand Ma Foi for generating business in the management consulting and education space. However, they were not allowed to enter into staffing solution, but allowed to work in tandem with Randstad.

MaFoi-Randstad would become Randstad India soon, he added.

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Printable version | Apr 23, 2021 12:49:50 AM |

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