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This Entrepreneurial Story is about Parikshit Borkotoky & Pramathesh Borkotoky who Founded ‘Kraftinn’ located in Jorhat, Assam, India.
Founders
An MBA Graduate from Amity Business School, Parikshit Borkotoky has worked with American Express, Religare Securities and AccelTree software in the marketing division prior to his entrepreneurial attempt in KraftInn . At KraftInn, he oversees all operational activities that come into play from the time the customer places an order till the time of delivery. This spans across divisions like warehousing, logistics and customer support. He is also in charge of KraftInn’s corporate divisions which include marketing, finance and legal departments.
Pramathesh Borkotoky worked as a Research Assistant in a CSIR lab after doing his MCA from Jorhat Engineering College, Jorhat. After 2 years of work experience, he decided to join KraftInn and handles all online operations, online marketing activities, brand development and responsible for the IT Division of KraftInn
When Started: June 2010
What motivated you to start your Business?
The need for greener alternatives is increasing day by day and Assam is a pool of such natural resources which are still unexplored and untouched. We have chosen bamboo and water hyacinth because of its severe characteristics and its availability in Assam. Bamboo home décor has a great demand and this market is largely disorganized and it’s largely a very niche and untapped category. Besides this, we wanted to start something which will address sustainable income to the artisans, environmental and social awareness by using eco-friendly products, reviving the dying artforms of Northeast India
In Late 2009, when the world economy was facing a slowdown, the Company, where I was working had to be shut down. At that point of time, I had two alternatives, either to look out for a new job or to take this as an opportunity to start something on my own. I chose the second one, and made entrepreneurship as a career choice.
When I came to Northeast (which is our native place) I had a conversation with Pramathesh and he was also planning to start something. We clubbed together our ideas and hence Kraftinn was incorporated.
Tell us about your Business
KraftInn is a slight twist of two words – ‘craft’ that symbolizes our desire to design unique products and harness the skills of artisans who have evolved over generations and ‘inn’ where people passing by, can experience a little bit of the local culture. We envision www.kraftinn.com as a place where people can get a little bit of the unique north east culture and take it back to their homes as tangible artefacts like lamps and bags
KraftInn’s core focus is on design and manufacturing of handcrafted products using sustainable material like bamboo and water hyacinth and making it mainstream using online and offline channels. Currently, the products includes lamps, bags and other home decor artefacts like bookshelf, laundry baskets, shoe rack etc
What is a Day in a life of you like?
There is no cleared defined schedule day at our work . Especially, early on, we have to deal with completely different business areas starting from technology, designing, operations, inventory management, shipping and customer service. Our day typically starts at 9 ‘o clock in the morning and we schedule and review the work at the factory. Then we tally the inventory at the showroom and the website. A small amount of time is spent at ordering and purchasing the required raw materials. Since we do the design and manufacturing, we have an inventory led model, which means we have to ensure that we ship the products within 24 hours of the order.. While marketing is a ongoing process, so we spend most of the portion of our day in conceptualizing and creating new designs and new products, analyzing market trends and managing social media tasks like Facebook twitter, LinkedIn updates , addressing comments , respond to feedback and answering emails and question etc. Then there are other miscellaneous tasks like taking pictures of the products, editing images, website updates and management, writing and editing our blogs etc and the list is endless.
One particular skill you got right and gave you best results.
We have a team of highly qualified technologists, skilled artisans and a strong operation team. Our commitment is towards the quality of our products with an intervention of design and we keep ourselves updated with the latest trends. We ask for regular feedback from our customers and work on products that are ideal for their homes. Customer satisfaction and experiences are our top priority. We encourage responsible consumerism through our Eco-friendly products
What have been your biggest challenges in running your Business so far?
The major challenges we are facing currently is managing the logistic cost. Customers want the best products at the least prices. And the goods are very delicate and hence require many layers of packing material to ensure maximum safety. The products are voluminous and logistics costs are very expensive. If that was enough, some customers want to receive the purchased products immediately after transacting.
How did you overcome these challenges?
Having said that, the customer experience cannot be compromised regardless of issues we cannot control. We de-risked the delivery items across multiple courier services. We replaced in case of any complaints without asking any justification from the customers
What have you found the most effective way to get new clients?
Most of our business comes through organic referrals and organic loyalty via excellent customer experiences. Customer Satisfaction is the utmost priority at Kraftinn. When a order is placed, a call is being made to the customer for confirmation and understanding of his exact requirements. We sometimes give the customer a choice to customize the products as per his/her needs if customization can be done. We rely mostly on word of mouth publicity and repeat business. We also get business through our presence on Facebook, Twitter and Pinterest.
What advice do you give to other business owners?
This is a very tough business but the benefits of building it are enormous. The three things which we have learned from our experiences are:
- Patience: You need to very patient. Don’t try to fix things by shortcuts.
- Informative: You need to look at the business analytically and be informative of the latest trends.
- Creative: Building the right product and marketing it well are the key factors. You should have the ability to create a new product and market it well so that it gets widely accepted
How did you keep motivated through difficult times?
North- east India is home to 140 different tribes and every tribe has a different and unique style of crafts. With the diversity of artwork and texture, the beauty and richness of handicrafts and hand-looms in these part of India are truly limitless. This is a very niche area and we hope to create a new market. The future of green lifestyle is very bright. We are seeing an increase in consumer trust in our products.
What are your Marketing, Funding and Team Building Strategy?
We learned early that we would need to have a setup wherein we can have full control of the quality standards and supply chain. We realized that the traditional offline business model cannot be ignored, specifically in India. In India, online buying is still at its nascent stage, as consumers often need to have a touch and feel of the product before buying. So, we worked on a hybrid business model, we do have a showroom cum factory outlet at Jorhat, Assam.
For team building, we are conducting regular workshops wherein we provide training to the people . Bamboo craft-work is more of a skilled craft and there are few blessed artisans who are master in this craft form. So, we introduced Water hyacinth craft by providing training to few of the artisans at NEDFI ,Guwahati. And gradually, these artisans provided training to the local people specially women so that more and more people are involved in this project.
Currently, we are in talks with financial institutions for business loans and planning to buy few of the required machinery which will help us to scale up the production. We wanted our basics and fundamentals to be very right from the beginning. We are planning to build a large manufacturing unit, provide large scale employment, cater to global markets, introducing newer Eco-friendly products, innovate on newer technologies and the be the #1 Indian Eco-friendly home decor company!
Your Achievements…
Kraftinn got an award for best design and products at IITF 2010 held at Pragati Maidan, New Delhi.
KraftInn gets awarded with the Best Entrepreneur Award in MSME Sector by the Govt. of Assam in the occasion of Independence Day(15th August 2012).
Whats your favorite quote?
Green is the new black
Who inspires you?
Nature
Do you have a Business Philosophy?
Kraftinn’s goal is to promote products that are designed or manufactured by keeping the planet in mind. Kraftinn endeavors in making the transition from ever reducing timber products to high quality bamboo and water hyacinth furnishings and utility items.
Our goal is to also blend in fashion, style and great prices with our product offerings. We will never further our goals of making these products widely used in the mainstream by offering products which are not aesthetically appealing or well priced.
Contact links
Website | Facebook | Twitter | LinkedIn
More Info
https://www.startupfreak.com/kraftinn/
StartupFreak Wishes the Best for Parikshit & Pramathesh Borkotoky !
