Making more than Rs 1 crore a year takes people a lifetime! But, an #LPU #BTech student, Anurag Reddy has made it possible through his startup, ‘#Penguinkart‘ in just the third year of his course!
The student of Lovely Professional University (LPU), Jalandhar, rakes in a revenue of Rs 40 lakh per quarter through his startup Penguinkart which he set up at his varsity’s incubation centre.
The e-commerce website sells products unlikely to be available on other sites on the Internet — from anti-gravity iPhone cases to Christmas embossing rolling pins — to countries including USA, United Kingdom, Australia and Canada. Penguinkart is expected to generate a revenue of Rs 1 crore by the second quarter of 2019.
“I don’t sell products that are easily available on other e-commerce sites. My products are unique and mostly available only on Penguinkart,” the 21-year-old told TOI. He has tied up with Chinese suppliers to sell their products to customers of developed countries.
“These suppliers do not ship to India, so I decided to sell in western countries. The margin is considerably higher when I sell products to people in developed countries,” said Anurag, who completed his third year of B Tech recently. He added that selling products to people of other countries was much easier as they do not compare prices on various sites before making a purchase.
Revealing his marketing strategy, the Hyderabadi said that instead of advertising his startup, he advertises individual products on social media sites. “I have four to five products — language translator, legs shaper, super nail kit, posture corrector, which have had generated Rs 10-15 lakh revenue each. Product-based advertising has done wonders for my project,” he said and added that his business was growing exponentially and that he would soon be setting up an office in Hyderabad recruiting full-time employees. Using the same formula, the young business man is running a fashion store selling clothes from China
