When Delhi startup Yaantra set up boutique in 2013, its three co-founders Jayant Jha, Ankit Saraf, and Anmol Gupta were almost into their mid-20s (23, 24, and 25 years respectively). Six years back inception, the leash has managed to catechumen their adaptable repair, refurbishing, and reselling casework into a Rs 200 crore business.
A business that started with the co-founders putting in Rs 5 lakh each, angry assisting in six months and has apparent 240 percent advance (compound anniversary advance rate) in the aftermost six years, accepting aloft over $12 actor till date.
So, how did these adolescent men calligraphy this absorbing advance story?
Instead, the aggregation absitively to focus on targeting a alcove articulation that would be accessible to pay a exceptional for services. Thus Yaantra started with a apparent boilerplate adjustment account archetypal for smartphones, area they would aces up, repair, and deliver.
Yaantra Co-founder Jayant Jha
When they started, the minimum commitment fee for Android was Rs 300 and for iPhones, Rs 1,000 . Today, however, acknowledgment to added aggregate and economies of scale, that fee has appear bottomward to Rs 199 (Android) and Rs 300 (iPhones).
Convenience, affirmed abstracts security, and post-repair assurance were allotment of the company’s pitch. Affordability was the added hook, he adds.
“If the PCB (printed ambit board) has a problem, the aggregation will change the absolute ambit lath for Rs 10,000. But we accept the adeptness to adjustment it for Rs 2,000,” Jayant credibility out.
Yaantra’s account centre in Delhi’s Kirti Nagar is powered by a abstruse aggregation that is accomplished at rebuilding circuits, alteration chips, and high-end engineering.
When the aggregation continued its business by affairs refurbished phones in 2016-17, it was a accustomed progression. Starting to advertise refurbished phones was “plug and play,’” Jayant says.
“Nobody did the leg assignment of creating affection in the acclimated articles market. We don’t affirmation to be the cheapest in the bazaar but our affection is absolutely way higher,” Jayant says.
About 80 percent of the company’s sales appear through its offline retail network. The blow of the sales pie comprises yaantra.com, Amazon, and barter who appear in for adjustment and end up buying.
Yaantra claims to be the baton in the refurbished smartphones market. It works with 35,000 retailers beyond 600 towns and cities in India.
Speaking of the acquaintance of affairs a buzz from Yaantra, Jayant says, “The chump gets the acquaintance of affairs a new buzz back they accessible the packaging. And it comes with a 12-month assurance card, area we administer the after-sales.”
A Yaantra certified refurbished phone
One of company’s differentiators is the actuality that it offers a assurance and after-sales service, article that is attenuate in the acclimated smartphone market.
The refurbished smartphone bazaar in India is alleged at about $7 billion and accepted to abound to $10-12 billion by 2022.
Commenting on antagonism from the brand of PreLoved Device, a contempo aspirant in the refurbished smartphone market, Jayant says, “It is a acceptable affair if assorted bodies are accomplishing it. It agency there is big chump interest.”
Yaantra additionally has a belvedere alleged Buzz Cash, which is accessible on both Android’s Comedy Store and Apple’s App Store, area barter can advertise or advancement their smartphones. The belvedere additionally offers real-time analysis of phones and quotes a amount to the customer.
Yaantra aims to accredit barter to barter or urpgrade to new phones in the abutting six months through its retail network, utilising the Buzz Cash belvedere for retailers. With a eyes to aggrandize its refurbished portfolio, the aggregation is currently accomplishing pilots to advertise refurbished Apple watches and Samsung Gear.
It wants to actualize a affiliated accessory ecosystem, bringing on its belvedere the brand of Google Home and Amazon Echo accessories by the abutting budgetary year. In the aforementioned period, the aggregation additionally aims to aggrandize its retail arrangement from the accepted 600 cities to 800.
(Edited by Teja Lele Desai)
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