Every great organisation has a success story. And Nakshatra Hula Hoops is no exception. So, here goes our story (as narrated by my father)…
Who says daughters can’t make you proud!
On 1st of January this year, my daughter asked for Rs.10000 as LOAN!!
She said she wants to invest in a business.
As usual, thinking that she might be talking of Amway or something like network marketing, I said no. But, on her persistent request, I gave in.
She got a few meters of hdpe pipe from a local store, alongwith some connectors, and lots of glitter tape!
She cut the pipe to 10 feet lengths, heated some water in electric kettle, dipped the ends, and with some effort, inserted the pvc connector. Lo and Behold! The first Hula Hoop was ready!
She decorated it in rainbow colours with glitter tape.
To test the quality, she spinned it around her waist. Wow! It was perfect!
But after a few rounds, the pvc connector failed!
She experimented with few different materials, until she got the perfect one. The next challenge was to sell the Hula Hoops she had made so painstakingly.
She contacted a few aerobics classes for demo, and got a call after a dozen odd refusals.
With just one demo, everybody just got hooked!
But the problem was that they didn’t know how to spin it. My daughter offered free training sessions, and hence first batch of 5 hoops was sold for Rs. 2000. The cost of prototype development had been recovered!
Then she contacted Sports/Toys stores, Schools, Dance groups, Aerobics classes… and so on. Within a month, she got order for 100 pieces.
Now, the problem was how to manufacture them! A single hoop took more than 30 minutes to complete. The work could not be done single-handedly. So, she got her first employee on piece rate basis.
By the end of the financial year, she had got her investment back and also earned net profits!
(Don’t ask me whether she has returned my LOAN back!)
She named her business as NAKSHATRA (Hula Hoops); has plans to take this business to a million dollar business; and given her determination, I have no doubts about it.
I am proud of you, my daughter… And every father/mother should be.