Generating revenue of Rs.34 lakhs in the first 10 months
Branding a company and projecting an impressive image is a very important part of today’s business environment. Apart from the substance, the packaging has become extremely important. PrintBindaas helps companies and individuals do just this. Printbindaas is an e-commerce company introducing web-to-print solutions to Indian customers. It helps SMEs and new entrepreneurs to get professionally-designed branding solutions in a very cost-effective way. PrintBindaas allows people to come on the printbindaas.com portal, pick up templates from a selection of thousands of designs, customize them by adding their content, logos or pictures and order it through the web. What they get is the final printed product.
Jubin Mehta from YourStory.in caught up with entrepreneur Suraj Goyal to know more about the business idea behind the venture. The company has a team of 12 people and Suraj believes that the growth would be exponential. He also expects revenues to go up by 5-7 times in the next year or so and this, he backs up with some very compelling points.
So, what’s the target market for a startup like PrintBindaas?
SME and professionals – Using web2print technology, SME customers would be able to easily design and order thousands of customized print products
Corporate and Franchisee businesses -For corporate customers, PB sets up customized online print ordering portal to help provide a faster, more cost efficient way for a company to order, manage and track printed business communication
Educational institutes – PB addresses design, print and merchandise requirements across premium business schools.
Vistaprint, which is the global market leader in the web2print space, has estimated as per a market study that the market for such service across India and China is 24 billion USD. Now, that’s a large enough market for companies to penetrate into and PrintBindaas is already on its way to take a big bite off this pie.
On being asked as to which segment is doing the best, Suraj said, “Corporate stationary and marketing resources portal, along with the revenues from educational institutes, is doing well at this point in time. On the online SME portal space, we have over 500 new visitors every day on our portal with conversion rate of over 1%.”
The product range includes business stationery, i.e. visiting cards, envelopes and letterheads. They have marketing products like flyers, brochures and posters, along with business greetings. They also have customized merchandise such as T-shirts, mugs and crystal products. For colleges, they have yearbooks. One interesting fact is that last year alone, they did the design, layout and printing for ten business schools in India, including four of the IIMs.
PrintBindaas caters to a very large addressable market with high entry barrier. If they keep innovating, hire the best talent and be ahead on the learning curve, they would be ready for any competition that sets its foot in the Indian market.