TEAM ID: OLD is GOLD

OLD IS GOLD 2nd IS THE NEW 1st

“Jab Tak Hai Jaan……Jab Tak Hai Jaan” a dialogue given by Shahrukh Khan in his movie to impress his girl. But we Indian uses this dialogue on our every daily products for e.g. from mobile to cars, and many more. We basically don’t sell our products until it is unrepairable or broken. This tradition must be broken mainly because those products some time become dangerous or hazardous for us.

And thus to fill this gap we came up with an idea of OLD IS GOLD. The basic idea behind this is we procure 2nd hand mobile phones (first priority smart phones) via different means like directly from customer doorstep or from existing market like OLX, we also have one repair person with us to check the

product condition. After confirmation we will then procure it and go for its refurbishment. We will sell to the local vendors by also giving warranty and

services for particular time period with an OIG mark which will be our USP.

The Market:The Indian mobile phone market is still in the growth stage. According to market research firm International Data Corporation (IDC) the share of smartphones in the overall mobile phone market stood at 32% in Q3 2014 and expected to grow 82% year

Consumer

Procurement and Segregation

RefurbishingNew Product

Local Vendor

TEAM ID: OLD is GOLD

on year. Going with trend the smartphone market is booming and also great perspective for us.

WE CONDUCTED A SURVEY AT BHU, LANKA and IP MALL VIJAYA, COVERING 120 PEOPLE. We find that there are people who are willing to buy refurbished products if they get some type of guarantee or warranty.

65%24%

11%

W o u l d Y o u B u y S e c o n d H a n d P r o d u c t ?

Yes No No Idea

More than 70% people say they have old products which they don’t use and want to sell, 20% said they always sell and 10% say they don’t think those are waste.

More than 65% people want to buy refurbished products.

Competition:We compete directly with online portals like Gobol.in, greendust.com and overstock.com. Already present in the market but their main objective is to sell factory second or the products which are send back by the customer. This is where we come we will only concentrate on second hand products, we will be having dedicated team to procure the product from the consumer so that initial problem of customer will reduced. We will also provide a website regarding our product where a customer can get all the information regarding the product through video.

And our main idea is to sell our products through local vendors. Because people believe a local vendor more than a new website.

Risk:The risk with our business is mainly due to people disbelief towards second hand product. We can overcome this only by providing good service and warranties. We are going to provide them with excellent customer experience and providing good products.

70%

20%

10%

A m o u n t o f O l d P r o d u ct s

Old Products Sold Products No Waste

TEAM ID: OLD is GOLD

Expected Return and Investment:Expected InvestmentProcurement (15 high end mobiles) Rs. 1,00,000Repair Person Charge Rs. 200 per mobileRefurbishment Expense Rs. 1000 per mobile (maximum)Total (approx.) Rs. 1,50,000 (with some backup amount)

This refurbished products will have cost which will take care of our investment and some margin according to the product condition, e.g. If an old Micromax canvas 4 A210 cost us Rs. 6000 and for its refurbishment we spend around Rs. 700 and expert charge us Rs. 200 for that, then we will sell it for Rs. 8000 to local vendor with 6 month warranty and hence our return will be Rs. 1100.

Management Team:Manish Manjhi

Dheeraj Kumar Singh

Gaurav Sah

Koonjan Misra