Their engineering and business administration degrees could easily land them well- paid jobs, but Shopeyard.com founders wanted to script a career by e-tailing books for competitive State-level exams.
The huge business potential apart, it was the hassle they endured, as engineering students, to get a textbook that made R. Sushant Singh and Hazari Shravan Kumar consider the option.
And if initial response is any indicator, their enterprise might well soon be a part of the success stories emerging in the start-up space.
Indeed, some e-commerce platforms offer such books but their focus is on national-level exams. Sourcing books for exams conducted for various jobs and courses at the State level hence is not easy, points out Mr. Singh.
His classmate and business partner, Mr. Kumar recalls how he had to spend time, energy and more money before getting a book he wanted while doing his engineering course. With timely access to information pertaining to the examinations and job notifications a challenge for many candidates, especially those in Tier-II and III locations, the portal offers details such as last date for applying, procedures and essential qualifications.Ambitious plans
Though Shopeyard.com deals in different genres, including comics, fiction, motivational, besides mobile phone and computer accessories, the focus is on publications that help crack competitive exams. As a Hyderabad firm, it started with books, including those in Telugu, for exams conducted in Telangana and since added publications for Karnataka’s COMEDK.
The State focus is to be expanded to cover Tamil Nadu and Maharashtra soon, according to Mr. Singh.
Established April last year, the revenue in the first fiscal was Rs. 5.50 lakh, which doubled in the next six months. “We expect to close this financial year with Rs. 27-30 lakh,” Mr. Kumar said, estimating the market for such books to be in the Rs. 5 crore-Rs.10 crore band for each State.
The emphasis is also on delivery in 24 hours within Hyderabad. Shopeyard.com plans to ride in into interior areas with the support of Indian Post. The scale-up plans, for which the promoters look to raise Rs. 5-15 crore funds, comprise expanding the range, supplier network and also getting into e-books in the fiction segment.