This woman started business by selling house, now earns one crore rupees every month

This woman started business by selling house, now earns one crore rupees every month

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Magnet’s co-founder Shubhra Chadha never thought of doing business. He had an idea to start a business, but he didn’t have the guts to leave a well-paying corporate job. But in the year 2008, he took a break from his job after the birth of his daughter. This was the reason when he started thinking about business. But within six months, his business reached the verge of sinking. Her husband supported her in this difficult time. Now Magnet brand has 17 stores and e-commerce shopping platform across the country. Magnet brand sells products like readymade garments, bags, gifts, jewellery, home decor. (Also read: You have been cheated in e-wallet! So complain like this, you will get full money back)

Company started like this
His target was such customers, whose search for good gifts never ends. She wanted to make a product for the people of India who want a very different range. He initially thought about the gift business and thought of such options which are not easily available. He worked on its concept, design, supplier, pricing, retail strategy for about a year and started Magnet.

Shubhra Chaddha and her husband started the business by selling their house for Rs 40 lakh. It was kind of a gamble but it worked out. He had the advantage that now he has his own three-room house in the city. However, his first six months were very difficult and his company was on the verge of sinking.

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Today earns one crore rupees- Shubhra opened its first store in Bangalore in March 2010. She opened this store with her husband Vivek Prabhakar. He used to work full time at Sun Microsystems. Their initial product range consisted of magnets, key chains and cushion covers. Now their product range includes more than 100 products. She sells her products through her website and e-commerce platform. They have 17 outlets across the country. His annual income is Rs 12 crore.

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Focused on your brand According to Shubhra, he had two options. First, keep supplying to other stores and be happy with little profit. Second, invest in brands and open your stores and focus on long term profits. He opened 44 magnet kiosks in a year. They opened their kiosks in more crowded malls and market areas, which benefited them. Then he started opening 2,000 square feet of stores, after which he reduced the focus to the kiosk. Shubhra wants to make the brand India’s own lifestyle brand.

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Tags: business news in hindi, Success Story

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