Kolkata: This placements season at the Indian Institute of Management (IIM) Kolkata, four students did not do the task interviews. Why? a...
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Kolkata: This placements season at the Indian Institute of Management (IIM) Kolkata, four students did not do the task interviews. Why? as a result of they need already launched their own venture, one that last week won the Wharton India Economic Forum Startup Competition. known as Zostel, it's India's initial ever chain of backpackers' hostels. There area unit 2 Zostels currently however they need massive plans - perhaps sixty five Zostels across India sooner instead of later.
Zostel isn't a word, however a gang of seven is set to form it a house name. Backpackers' hostels with a zing, Zostel guarantees a ne'er before travel expertise that is additionally low cost. Beds at the Zostel's cool dorms begin at but Rs. four hundred an evening.
"At Zostel we've a large specialise in making partaking evenings, ice breaking session between folks from completely different cultures and that is the correct thanks to travel. you must not return to Zostel as a result of it's reasonable. you must return to a Zostel as a result of it's the correct thanks to travel," aforementioned Zostel corporate executive Dharamveer Singh Chauhan.
But at Rs. four hundred a bed per night, is that the business model workable? "We aren't fools," says Paavan Nanda, another IIM-Calcutta student and one among the gang of seven entrepreneurs. "The payback structure is twelve to fourteen months. after all we've garnered interest of external investors. we have a tendency to area unit going to get external funding, considering our aggressive plans of gap eight to ten properties within the next twelve months. The investors area unit pleased with our business model. it's executable."
The brains behind Zostel area unit Dharamveer, Paavan and 2 alternative IIM-Calcutta students - Akhil Mallik and Tarun Tewari. Their fellow entrepreneurs embody 2 Indian Institute of Technology (Banaras Hindu University) friends and a finance whiz. Their start-up got a big-thumbs up at Wharton last week. however even before that, they knew no placements for them. They were progressing to follow their hearts.
"I am an ardent hiker. i'm a traveller thus I take plenty of interest during this," says Akhil. "So if you'll do one thing you which of them you're very obsessed on, that you actually love and still earn your living with it, i believe that is the best life one will have."
Zostel's 2 hostels area unit in Jaipur and Jodhpur. They arrange sixty five Zostels across India then on to Bhutan, Nepal and Ceylon. The gang of seven's biggest dream: amendment the face of business enterprise within the Indian landmass
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