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  1. Asked: January 1, 2023In: Entrepreneurship

    What are top bootstrapped startups in india ?

    Praveen Singh Teacher Entreprenuer
    Added an answer on January 1, 2023 at 5:15 pm

    There are many successful startups in India that have been bootstrapped, or self-funded, rather than relying on venture capital or other outside investment. Here are a few examples: Freshworks: Freshworks is a software company that provides customer relationship management, IT service management, anRead more

    There are many successful startups in India that have been bootstrapped, or self-funded, rather than relying on venture capital or other outside investment. Here are a few examples:

    1. Freshworks: Freshworks is a software company that provides customer relationship management, IT service management, and other business software to companies around the world. It was founded in 2010 and has grown to become one of the largest and most successful bootstrapped startups in India.
    2. Zoho: Zoho is a software company that offers a range of business, productivity, and collaboration tools. It was founded in 1996 and has grown to become a major player in the global software market.
    3. InMobi: InMobi is a mobile advertising and marketing company that helps businesses reach and engage with consumers through targeted ads. It was founded in 2007 and has grown to become one of the largest mobile advertising platforms in the world.
    4. Practo: Practo is a healthcare technology company that offers a platform for booking appointments, managing electronic medical records, and other healthcare-related services. It was founded in 2008 and has grown to become one of the largest and most successful healthcare technology companies in India.
    5. redBus: redBus is an online ticketing platform that enables users to book bus tickets and make other travel arrangements. It was founded in 2006 and has grown to become the largest online bus ticketing platform in India.
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  2. Asked: January 1, 2023

    What is Profit margin in food processing business?

    Praveen Singh Teacher Entreprenuer
    Added an answer on January 1, 2023 at 5:00 pm

    The profit margin in a food processing business can vary widely depending on a number of factors, such as the type of food being produced, the scale of the operation, the cost of ingredients and labor, and the price of the finished products. Some food processing businesses, such as large-scale manufRead more

    The profit margin in a food processing business can vary widely depending on a number of factors, such as the type of food being produced, the scale of the operation, the cost of ingredients and labor, and the price of the finished products.

    Some food processing businesses, such as large-scale manufacturers of packaged goods, may have profit margins of 10-15%. Others, such as small-scale producers of specialty or high-end products, may have profit margins of 30-50% or more.

    It is important to carefully consider these and other factors when starting a food processing business, and to conduct market research to determine the potential demand for your products and the prices at which they can be sold. This will help you to make informed decisions about how to structure your business and set pricing in order to maximize profitability.

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  3. Asked: December 25, 2022

    Do people with Coding Background have advantage in building a startup?

    Praveen Singh Teacher Entreprenuer
    Added an answer on January 1, 2023 at 4:58 pm

    Having a background in coding can certainly be an advantage when building a startup, especially if the startup's product or service involves technology. A founder with coding skills may be able to more easily prototype and iterate on their product, as well as handle any technical challenges that ariRead more

    Having a background in coding can certainly be an advantage when building a startup, especially if the startup’s product or service involves technology. A founder with coding skills may be able to more easily prototype and iterate on their product, as well as handle any technical challenges that arise.

    However, it is important to note that a background in coding is just one aspect of building a successful startup. Other skills and abilities, such as business strategy, marketing, and management, are also important. Additionally, it is possible to build a successful startup without any coding experience by partnering with a technical co-founder or hiring developers to handle the technical aspects of the business. Ultimately, the specific skills and abilities needed to build a successful startup will depend on the nature of the business.

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  4. Asked: January 1, 2023

    What are Best Manufacturing Business Ideas in Lucknow?

    Praveen Singh Teacher Entreprenuer
    Added an answer on January 1, 2023 at 4:55 pm

    Here are a few manufacturing business ideas that might be successful in Lucknow: Food processing: Lucknow is known for its diverse and flavorful cuisine, so starting a food processing business that sources local ingredients and produces products like pickles, sauces, or snacks could be a good opportRead more

    Here are a few manufacturing business ideas that might be successful in Lucknow:

    1. Food processing: Lucknow is known for its diverse and flavorful cuisine, so starting a food processing business that sources local ingredients and produces products like pickles, sauces, or snacks could be a good opportunity.
    2. Textile manufacturing: Lucknow has a rich history in the textile industry, and there may be demand for locally-produced fabrics, garments, and other textile products.
    3. Packaging: A business that produces packaging materials, such as boxes, bags, or labels, could serve the needs of other manufacturers in the area.
    4. Furniture manufacturing: With a skilled labor force and a tradition of craftsmanship, Lucknow could be a good place to start a furniture manufacturing business.
    5. Solar panel manufacturing: As concern about the environment grows, there may be demand for locally-produced renewable energy products like solar panels.

    These are just a few ideas, and there may be many other opportunities for manufacturing businesses in Lucknow. It would be a good idea to conduct market research to determine which products and services are in demand and to assess the competitive landscape.

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  5. Asked: January 1, 2023

    How to evaluate a business idea?

    Praveen Singh Teacher Entreprenuer
    Added an answer on January 1, 2023 at 4:37 pm

    There are a few key things to consider when evaluating a business idea: Market demand: Is there a need for your product or service in the market? Do some research to understand the size of the potential market and the competition you will face. Feasibility: Can your idea be turned into a viable busiRead more

    There are a few key things to consider when evaluating a business idea:

    1. Market demand: Is there a need for your product or service in the market? Do some research to understand the size of the potential market and the competition you will face.
    2. Feasibility: Can your idea be turned into a viable business? Consider factors such as the cost of production, potential profit margins, and the resources (time, money, people) you will need to bring the idea to fruition.
    3. Unique value proposition: What makes your product or service different from what is already available? Consider how you will differentiate your offering and what value it will provide to customers.
    4. Marketing and sales strategy: How will you reach and persuade potential customers to buy your product or service? Consider the channels you will use to market and sell your offering, as well as your target audience.
    5. Team and resources: Do you have the necessary skills and experience, or can you assemble a team that does? Do you have access to the financial and other resources you will need to get your business off the ground?

    It can also be helpful to test your idea with a small group of potential customers to get feedback and validate your assumptions. This can help you refine your idea and increase your chances of success.

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  6. Asked: September 6, 2022

    How to Start a Catering Business ?

    Praveen Singh Teacher Entreprenuer
    Added an answer on September 17, 2022 at 11:55 am

    Here are a few tips and steps on How to Start a Catering Business? The catering business does not require too much of an initial investment. The food catering industry in India is having an average annual growth of 25-30%.  You can start it small and then scale it as your business grows. Here are soRead more

    Here are a few tips and steps on How to Start a Catering Business? The catering business does not require too much of an initial investment.

    The food catering industry in India is having an average annual growth of 25-30%.  You can start it small and then scale it as your business grows.

    Here are some points you need to keep in mind-

    1. Create a Catering Business Plan

    Do research, Study the market, talk to customers and ask them about suggestions, note down their feedback, and solve the problems that they are facing with other businesses. You will get clients or business as contract catering for special events, private chef services, banquet lunch boxes, and so on. You can create a menu for each of the areas you have finalized.

    The next thing you should do is decide the space you need and your storage requirements. If you plan to have a full-time catering business, you will require a permanent cooking facility and storage. If you want to start online catering services or a part-time business, you can rent kitchen spaces.

    2. Make a budget plan and capital sources

    The next step is to decide on your budget & source of capital. The budget may vary according to your preferences. You must also make a plan to spend your money efficiently on on-site equipment, licenses, rental costs, transport, and other such expenses.

    If you do not have enough money to start the catering business, you can start approaching investors. If you can present your business as a lucrative and promising one, you will be able to attract investors easily.

    These days, different Government departments offer schemes to small business owners. You can also approach these agencies/departments and avail of loans and other financial benefits.

    3. Decide on the equipment & suppliers

    Base the purchase of your kitchen equipment on the menu you have finalized. For example, if most of your items are fried, you may need a couple of fryers. On the other hand, if a majority of your items are baked, installing more than one oven will be a better idea.

    Other important equipment you may need include storage cabinets, multiple-compartment sinks, refrigerators, heated & non-heated holding areas, utensils, etc.

    4. Find Out Your Source Vendors for Your Catering Supplies

    The raw materials or products for your business could come locally from farmers or a supply distribution agency. In the initial phases, you can use a wholesale club to buy your raw materials, as it saves up a lot of your money plus they are fresh! It is always easier to do business with a larger supply company.

    Once you take up a few orders, start growing your network of supply vendors and agencies. You can then use it to do business with the best ones in the market.

    5. Get your permits & licenses

    You need to obtain different types of permits and licenses before starting your catering business. The Government of India issues quite a few permits to businesses that deal with food items. But, vendor registration with FSSAI is mandatory for any food catering business.

    In addition to this, you also need to obtain different licenses/clearances such as the Shops & Establishment license, sewage license, fire and water clearance, etc from the concerned authorities under the State Government, before you can operate.

    Once you operate with these permits/licenses, there will be periodic inspections from the authorities to check whether you are maintaining the prescribed health, hygiene, and safety standards, among others.

    6. Decide The Menu

    Menu engineering has been unanimously said to be one of the toughest tasks of handling a food-related business. You need to consider the raw material cost, the quantity, the change in rates, and so on. Competitors are one of the last, but important factors to be considered. It is important to know what your competitors are charging to sustain in the market.

    Standardizing your recipe helps in reducing food costs to a higher margin by defining the exact quantity of raw materials required for each dish. A proper POS system will help you achieve that. It maintains a standardized recipe for you, ensuring constant taste and quality.

    Your per-plate costing may vary according to demand and services added. Initially, try to have a moderate rate and consistency in your food quality to get more orders flowing in. Apart from that, the magnitude of the event will also decide the prices.

    7. Hire adequate manpower

    Any new business needs dedicated and quality manpower. Initially, you can handpick people for the head chef, junior cooks, and delivery people. When you have enough funds, you can hire an agency to provide you with trained and experienced manpower.

    8. Market your brand

    You can’t afford to ignore the value of marketing your new food catering business. You can use the below-mentioned marketing techniques to generate leads and convert them into customers.

    1. Word of mouth- This is very important for a catering business. Build a personal touch with your customers so that they spread good ‘word of mouth regarding your offerings/services.
    2. Use the power of social media- Most millennials and event planners are available on social media platforms such as Whatsapp, Facebook, and Instagram. You need to mark a consistent presence on these platforms and build fruitful connections.
    3. Create your website- By creating your website, you can showcase your items to a larger audience. You can also have blogs on food items to engage potential customers and build trust with them.
    4. Offers and campaigns- Organise campaigns in banquet halls, malls, and other prominent places. Provide offers to repeat buyers and look for referrals.
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  7. Asked: August 30, 2022

    How to get Startup Ideas?

    Praveen Singh Teacher Entreprenuer
    Added an answer on August 31, 2022 at 9:08 am
    This answer was edited.

    To get a startup idea, you have to understand a few things, startups like Ola, Oyo, lens kart, and many more came out to be a brilliant startup idea. The most common thing in all these startups was, that they were solving some real problems of a common man. Apart from brands like apple whose targetRead more

    To get a startup idea, you have to understand a few things, startups like Ola, Oyo, lens kart, and many more came out to be a brilliant startup idea. The most common thing in all these startups was, that they were solving some real problems of a common man.

    Apart from brands like apple whose target audience was wealthy people, brands like Amazon, Facebook, Twitter, and Google, became successful because they were fulfilling the needs of common people and the majority of people in any country have average earnings or are the common man.

    So if you look for problems that a common man is facing in their day to day life and try to solve them in such a manner that they would be ready to pay you for it.

    The only real way to find a startup idea is to evaluate and observe the needs, psychology, and behaviour of people around you.

    Apart from understanding your customers, you should understand your psychology, strengths, and weakness, remember ideas are easy to find but the main thing is about executing them most effectively and efficiently.

    Thanks for reading!!

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