They see immense potential in Ahmedabad and Gujarat and this perhaps persuaded them to take a plunge into setting up their own entrepreneurial venture here, leaving their plush corporate jobs in New York.
They see immense potential in Ahmedabad and Gujarat and this perhaps persuaded them to take a plunge into setting up their own entrepreneurial venture here, leaving their plush corporate jobs in New York.
Soham Thacker, 24, and Vivek Yadav, 25, worked as business and research analysts respectively in the USA but returned to their roots to kick-start their own venture, 'Yellow'.
"Both of us always wanted to set up our own business in our birthplace, Ahmedabad. Following our research here, we realised that there is immense potential and opportunity in Ahmedabad to run one's own business. Hence, we jumped the bandwagon and set up our own business", Thacker informed.
Thacker and Yadav intend to start a city-centric magazine "On the Run" for autorickshaw commuters to read while travelling to their destination. They agree that it's a risky affair, though they have their blueprint ready which is currently helping them realise their entrepreneurial dream.
Yadav elaborates, "During our study we found out that an average traveller spends nearly 15 minutes in a rickshaw. During this time he can flip through the magazine, look at the pictures and probably read a small article on something that interests him.
This will benefit the reader in terms of information about the city and we will benefit from the advertisements in the magazine and the overall branding." The magazine is exclusive to autorickshaw commuters.
The duo intends to earn their revenue from the ad space sales of their product. With the printing cost of this magazine being approximately Rs37, Thacker and Yadav will also give a percentage cut from the income generated through ad space sales to auto drivers.
They will launch their magazine in 500 autorickshaws on Wednesday and are hoping for a break-even within 3 to 4 months. They have invested about a couple of lakhs for this venture. The auto drivers will be handed a 'welcome' kit of Rs50 consisting of a wallet, belt and some monetary benefit.
Auto rickshaws will also carry stickers and small banners of 'Yellow' and 'On the Run' at the rear, on the mirrors and the meter of the vehicle.
Thacker added, "Currently the magazine is available in English and will be mainly catering to denizens of western Ahmedabad.
As per as our study, most autorickshaw drivers drive in a 'fixed' vicinity, hence our target readers or travellers as of now are residents and visitors of Prahladnagar, Vastrapur, Law Garden, Satellite Road, IIM-A Road, and the like."
Thaker's mother is a paediatrician in the USA. He is currently staying with his grandmother in Ahmedabad.
Yadav too is residing here with his parents. They hope their first business collaboration will see the light of day and reach the stars, following which they will increase their circulation to more autos in more areas of the city.
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