“Find it at KOOVS”
The necessities of life and its luxuries often do not find the same platform as they serve different needs. However they do serve the same customers, this revelation seems to have been foremost in Kunal Singla’s mind when he founded KOOVS. If it is a service you need or crave they seem t have it all.Kunal told Yourstory more about KOOVS and the ideas that have gone into its making in the conversation that follows…
Could you tell us more about KOOVS and its workings?
With established operations in India & Singapore, KOOVS is an online platform which intermediates in mass dealings of services at an exceptionally great bargain from 50%-90% discounts at different places to eat, hang out and entertain. We provide a micro-marketing platform for Millions of SMEs/SMBs (Restaurants, spas, health clinics, entertainment zones and many more) and help them generate higher sales.
Through Demand-aggregation and Price-differentiation strategy we create a win-win situation both for Merchants & local Customers. It’s a combination of pricing, branding and marketing thus helping customers to steal great deals from their favorite as well as unknown but good places.
What kind of consumers are you targeting with your services?
Customers buy similar products/avail similar services from the same place but independently. They definitely try to seek good discounts in places to dine and hang out etc. However, the maximum discounts they get are corporate that too for a large group of people. Through KOOVS, we help customers to avail exclusive discounts upto 90% in various categories like Restaurants, spas, health clinics, entertainment zones and many more.What is the business concept behind KOOVS?
It’s a very simple concept. We strike deals with our clients and service providers, run branding and marketing campaigns. Hundreds of customers visit www.KOOVS.com, like the deal and register for it. As soon as they finish the transaction, they get an exclusive coupon number, which they can carry to the merchant to avail the exclusive deal.
What avenues are you going to pursue to grow your business?
Internet penetration and consumer psychology is very important for Koovs. We aim to set up pan-India presence with operations in 25 cities in India and abroad in the next 1 year.
What is your prime motive in becoming an entrepreneur?
I believe in Freedom and setting an identity for oneself is what motivated all of us- a passion to make a change not just in our life but the entire world around me. Though, most of us used to get a fat pay cheque, a sense of satisfaction was never there. At this point of time, even though we may not make big bucks, satisfaction of running my company and learning is immense.
What has work and progress at KOOVS been like?
It has been a roller coaster of good and bad times. Launching operations in the start is definitely not easy especially when your business model is innovative and new. I believe the biggest challenge is when we have to educate the clients/merchants how can this business model be beneficial for them without diluting the brand value. Sometimes, the customers also feel skeptical especially in India as they are not used to online buying. Well, we have developed some best practices after having interacted with hundreds of clients/merchants and customers, a secure payment system and many more such things have helped us to educate both platforms convincingly.
Within a short time frame, we are proud to have four branches in India and Singapore. Additionally, we have offers across India through our special tie-ups while strengthening our employee strength from 2 to around 20.
What is the one mistake you made that others should learn from?
I would not say a mistake but definitely a learning which any entrepreneur has to keep in mind. Keep proper processes in place as it helps when you scale up and always have a tight check on your cash flows.
What are the major targets for KOOVS in the coming 2 years?
Expand into 25 cities in India and abroad and help consumers save more than Rs 55,000 crore and help merchants to get 100% occupancy rates without any upfront costs.
What ideology would you prescribe to nascent entrepreneurs?
Focus and never give up. Keep a check on cash flows and make sure you set and try to meet targets.
We wish Kunal success and good fortune with his work. We wish him and KOOVS Godspeed on their entrepreneurial journey.