The thought “We wanted to do something ‘different’ for the student community back home,” prompted Rahul and Jinaal to become entrepreneurs.
While studying at Aston University, UK, Rahul and Jinaal faced many difficulties trying to save money. The concept of ‘student offers and discounts’ was huge in UK. They wanted to adapt a similar concept in India.
As students, they always had a streak of doing business and achieving goals. They started working as part time employees in a restaurant and Subway during their university days in UK where they came up with the idea of creating a student marketing platform. After relentless ground work and research, SavePocketMoney.com was born.
SavePocketMoney.com is an ideal platform for brands, retailers, and diverse advertisers to reach, impress, and wow the student community. The deal portal helps students to reach the hottest deals while saving big cash.
All students have to do is register on the website, click on the deal, and download/sms/print the deal coupon. This coupon has to be shown along with their college id card to the retailer to validate the deal. It’s completely free for students.
SPM currently has over 100 brands on board. They are from various categories like clothing, gadgets, entertainment, travel, etc. Some of them are Gold’s Gym, Pizza Express, Enrich, Canvas Laugh Club, Café Mangii, Inox, Esbeda, etc.
SPM has attained more than 10,000 registered students in a span of 6 months. Initially, social media helped the SPM team in marketing along with their appointed student representatives in various colleges. Also, word of mouth made it easier for them to increase their user base. This was followed by tie-ups with colleges.
Talking about the unique set of challenges faced, the young entrepreneurs say,
As a startup, it was difficult for us to convince brands to come on board. Also, not being from a technical background was an issue for us. There was a time when we actually approached 100 brands a week and only 1 used to agree to be a part of our venture. It was de-motivating at times but our team stood by together and finally we succeeded.
Before taking entrepreneurial plunge, the founders have handled their family businesses. They worked at transforming those organizations from traditional run businesses to professional organizations with a widespread expansion across India. After gaining some experience in sales and marketing, they started working on their dream project.
SPM is a bootstrapped venture and was started with an investment of Rs 5 lakh. It plans to be the number one portal for the best deals for the youth. The young company aims at partnering with the best brands, both big and small, to add to the diverse list of options. It also wishes to be the launch-pad for new-age products.
Sharing some key tricks of the trade from their experience, the founders say,”In our short journey as a startup, we have learned that nothing can be built in a day. It takes time to achieve any target. Hard work, patience, and motivation are imperative. As our team and target audience are both students, we are at an advantage to understand our market better thus helping us to move towards our goals.”