Everything from reaching the product to the consumer and collecting rent is done by the third-party firm. You can go to our site, and instead of Buy Now button, you press Rent Now. We are using a third-party firm which has developed the system for us.
#Social media button coffeecup site designer upgrade
They prefer to rent and may want to upgrade soon. But they do not want to own houses or durables and appliances. Our target audience for this is the millennials who want good things in life instantly. It started with coffee machines, but customers can rent any of our appliances priced more than ₹3,000. You have also launched a business to give appliances on rent. Consistently, every single day, ₹16,000 machines sell more than the ₹10,000 ones, and the ₹10,000 ones beat those priced at ₹6,000. How much of your business do you see coming from coffee machines going forward? Others are just coffee carts in the atrium. Some are like Starbucks and Café Coffee Day, where you sit and have a nice experience. I went to a mid-sized mall in Mumbai recently and found 11 coffee outlets, each one selling a coffee cup at ₹350 to ₹450 and each one having customers. Others that cost between ₹14,000 and ₹17,000 can give you Starbucks kind of coffee at home. That’s priced at ₹90,000 and will be launched around Diwali.
So, starting from a simple machine which costs about ₹1,500, we have the fully automatic machine which gives you a full cappuccino, including frothed milk. Here, we have to design milk-heavy machines with inbuilt frothing. We’re designing the machines because 92% of Indians have coffee with milk, unlike in the West, where most people have black coffee- espresso shots and americano. For example, we have launched a full stack of nine coffee machines because coffee is happening in India. Plus, we are investing a lot in design and development. Naturally, working capital is required for such high growth. Last year, we grew by 30%, and this year we’re growing by almost 40%. So, sometime next year, we may go for fundraising again.
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