How a 26-year-old college dropout from Ludhiana built a company worth Rs. 20 crores

New Delhi [India], November 12 (ANI/SRV): Founded in 2015 by Milind Kwatra, a final year BBA dropout, his company began operations in Ludhiana six years ago and has since then expanded to various cities in Punjab as well as Varanasi, Karnal, and Nagapattinam.
HUMhain is an on-demand eCommerce platform that delivers from the shops around you in minutes. Either be any Grocery items, Food, Medicines, Electronics, Crockery, or Toys, you can order anything, but rather than waiting for days and getting stuff from unknown sellers, you will get delivery within minutes and from the vendors that you know.
Further conversation with Milind Kwatra when asked why he choose to work in this field, the CEO and founder said that he always wanted to do something that would make people's lives easier and in the world of online connectivity, the offline connectivity amongst the people living together and around is really taking a back seat. With Humhain, he aims to bring people who are already living close by, come more closer by improving transactions and commerce between them and making it even more efficient.
While discussing the topic the Owner remarked that, when it comes to e-commerce deliveries in India, the problem has always been execution and long supply chains. Getting fast deliveries at genuine rates possible in such a massive, densely populated country is really a challenge and an opportunity both. In the earlier times of the rise of eCommerce, the customers shifted towards the ease of ordering through their phone majorly due to huge price cuts. The downside of long waiting hours was compensated with better prices. But now when eCommerce platforms need to make up for the huge losses, the prices on platforms have become much higher to a shop near you. Additionally, you still don't get anything instantly apart from food.
With HumHain, he aims to bridge this gap where customers can enjoy the ease of ordering through their phones, without the downside of long delivery times. Through this route, Humhain is also empowering the local sellers and boosting the ecosystem instead of trying to compete with them by shipping to customers from far-off warehouses.
With HumHain, all local sellers have an opportunity to join the online wave, and rather than putting their generations of hard work down the drain against major eCommerce platforms, they can give immense value to their existing customers by enabling instant home delivery and in turn, retain them and grow.
According to a survey, it showed that at equal prices and 30 - 60 minutes delivery times, a customer will always prefer to buy a product from the local sellers they know rather than get in the hassle of deliveries and pickups that span through days. Missing that get together with friends to not miss that parcel, is becoming a new-age problem.
Though there are numerous technology solutions for shop owners to opt to enable digital cataloging, there is still no platform that allows them to go live and enable instant home delivery. The challenge is less at bringing the shop online, but more at closing the whole loop of making sure the customer gets his delivery and in minutes, rather than days.
Reminiscing about the good old days, the co-founder remarked that setting up the business was quite a challenging task in the beginning. Since he didn't have the capital back then but had a vision along with a strong desire to create something that could make a difference in people's day-to-day lives, he used to make the deliveries singlehandedly all by himself for 6 months approximately and was a one-man army who took care of the entire business operations on his own. But gradually he met like-minded people who believed in his vision and joined the team.
Later onwards, in the year 2018, he was finally able to acquire funding from the current Skoda Auto India - National Head in Sales and now, the company has a workforce of about 70 employees working under the project. With a 73% customer retention and over 4 lakh successful deliveries made to date, last year the company sold more than 2 crores worth of merchandise on their app and generated a revenue of 3 crores in delivery income only. A clear testimony to the fact that Humhain is building a meaningful and scalable business.
The local e-commerce platform has already closed a term sheet to launch the services in Toronto, Canada. Milind however, though focussed on big cities himself, plans to partner with like-minded people that want to launch their own HumHain in their city.
With the success of 3 franchises that are profitable for more than a year, Milind believes to be a part of the new wave of energy and entrepreneurship rising in the tier-2 and tier-3 cities. Riding on the back of the much deeper internet penetration, Indians are now looking for better and smarter ways to shop and grow.
To know more visit: http://www.humhain.com/
This story is provided by SRV. ANI will not be responsible in any way for the content of this article. (ANI/SRV)