Hey Ladies !! Gear Up for this wonderful Digitalized Gold Investment Scheme by Jewelrich
Jewelrich is India’s first online aggregator for a product called monthly gold jewellery saving schemes offered by jewellers across India. It is age old product where consumers can buy jewellery via advance saving schemes. A win-win situation for both consumers and jewellers where consumers can aspire to buy jewellery with small savings fixed every month with good return at the end and jewellers gets loyalty and future business.
The challenges faced and the story behind Jewelrich
Challenges of setting up was huge as jewelrich is first of its kind innovation which is C2C business model in the said segment where we have to understand both sides requirements keeping compliance in mind as monthly jewellery saving scheme is roughly 20 thousand crores industry in India.
Let it be an IT firm, banking or Government organizations, weekends are the most awaited days for the people. Spending those precious two-days are preferred for hanging out and naps. The world has become digitalized where bills are paid online, making things ease. …….. came up with the idea of online payment mode of the monthly gold investment scheme which one of his cousin was requesting the facility of online payment to a gold merchant thereby reducing the travelling time and expenses.
The One Big Team
Core team members are the pillars for a new start up.
- Poonam Soni (37), an MBA manages marketing and has rich experience from various multinational companies in FMCG sector.
- Prateek Patel (39) is the technical head with quality experience of 15yrs in building ecommerce websites.
- Aatish shah (36) an MBA degree holder manages operations having prior experience in banking and jewellery sector for 12 yrs.
- Vaibhav Soni (21) is a young techie system administrator.
- Sourav Donga (27) is customer and jewellers support executive.
- Arohe Dhuri (29) a post graduate, manages accounts .
- Dhaval shah (35) is a social media consultant.
- Milind Parekh (39) is Financial consultant at Jewelrich.
- Tejas Soni (39), comes from jewellers fraternity very passionate towards jewellery sector since early age and has prior experience as artisan, designer and manufacturer in industry and have launched high end jewellery watches and jewellery in Indian market.
On its way towards the success path
This self- funded start-up got live since August 2016 and has made 300+ registrations so far. Sounds great right!! Unique aggregator model with existing offline industry of 20 thousand crores approximately with a potential to grow multi fold is the USP of Jewelrich. The revenue model consists of commissions per transaction, membership fees, jewellers scheme promotion etc.
Pay Online in Three steps
- Consumers can log in to website and can choose various jeweller’s saving schemes offered.
- Fix the amount which they wish to save every month till selected scheme period towards desired jewellery via online payment options.
- Once all instalments are paid, we can collect the jewellery from jewellers’ outlet post redemption date.
A thought to partner with
The team is looking out for strategic partner who shares same or higher vision and can bring experience and expertise on the board. The short term goal plan is to add quality jewellers pan India and promote jewelrich to consumers. Read more startup stories.
Are you intrested to become guest author and write about business, Leadership or finance? Register and start Contributing your knowledge and experience.