Скачать или смотреть How JP Shukla and Ravinder Singh Built 1 India Family Mart

1 India Family Mart, a value retail chain, will be celebrating the opening of their 100th store before the end of 2019. JP Shukla and Ravinder Singh founded the company back in 2012 with Rs. 10 lakh. This is the story of how they grew the company from 1 store to 100, and from Rs. 10 lakh to $100M over the course of the last 7 years. 00:00

SECTIONS

00:45 Starting 1 India Family Mart
02:42 A Difficult Beginning: The First Two Stores
06:33 A Turning Point: The Third Store
09:44 Raising Funds in Order to Scale Up
11:43 How to Go from Rs. 1 Lakh to $100M
14:13 The Future of Retail in India

Starting 1 India Family Mart: JP Shukla and Ravinder Singh met back in 2008, and four years later, founded 1 India Family Mart. In 2013, they opened their first store. Between founding the company and opening their first store, they set up an office, a warehouse, and hired some employees.

A Difficult Beginning: The First Two Stores: The beginning of 1 India Family Mart was difficult, because JP's mother passed away, leaving Ravinder to carry a lot of the company's weight on his shoulders for some time. What is more, getting good land for their stores wasn't easy because 1 India Family Mart wasn't a well-known brand the way that it is today. The duo was financially weak in those early days, but they persevered and this perseverance, as well as the trust that their investors, early employees, and suppliers put in them, enabled them to open their third store.

A Turning Point: The Third Store: Due to their locations, JP and Ravinder's first two stores underperformed. Everything was riding on the success of their third store, and they managed to make Rs. 1.3 crores in 17 days from this store. This huge success was a turning point for them as entrepreneurs, and for 1 India Family Mart. Their suppliers, investors, and employees all started to believe in JP and Ravinder as the company's leaders and founders. By the end of the financial year in 2014, they had four stores, and the next financial year they opened seven more stores. However, this growth was slow compared to what would follow.

Raising Funds in Order to Scale Up: In order to scale up more rapidly, JP and Ravinder decided to raise funds. By December 2017, they had raised Rs. 10 crores.

How to Go from Rs. 1 Lakh to $100M: JP Shukla and Ravinder Singh have taken 1 India Family Mart from Rs. 10 lakh to a $100M valuation. They have accomplished this by being honest and doing things by the book. The company strategically focuses on location, merchandise, and manpower. They also choose to open on high streets, rather than in malls, which tend to decline after six to seven years.

The Future of Retail in India: JP believes that organized retail is evolving in India, but that there is plenty of potential for retail companies that are targeting the masses in tier 2 and tier 3 cities. He believes that the government is paving the way for retail companies to succeed

If you enjoyed hearing about how JP Shukla and Ravinder Singh built 1 India Family Mart and you want to know more about them or their company, please make use of the links below:

JP's LinkedIn:   / jay-prakash-shukla-05810218  
Ravinder's LinkedIn:   / ravinder-singh-13698926  
1 India Family Mart: https://1indiafamilymart.com/

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