necessitating different answers: Mr. Ashish, Fretbox
Q1. Where did you get the idea for your business?
Answer: Numerous sources can yield business concepts. My business idea came from my partner after identifying a gap in the market.
The PG & Hostel market requires professionally managed, technologically advanced digital solutions tailored to each student’s way of life.
Q2. What challenges did you face in running this business?
Answer: A variety of obstacles confronts expanding enterprises. New issues and possibilities arise as a business expands, necessitating different answers; what worked last year or quarter might not be the best course of action today.
For a business to expand and prosper, you must be aware of and adept at avoiding the frequent trap of expansion. You must take care that your actions today don’t end up causing more issues in the future.
Making the most of opportunities will enable you to produce long-term, sustainable growth.
To name a few:
- Keeping up with the market
- Planning ahead
- Cash flow and financial management
Q3. What type of services is your company providing?
Answer: FretBox is a Prop-tech SaaS for hostels and PGs’. FretBox is a mobile app-based the solution that aims to solve the security, communication, assistance, and financial challenges of hostels in 1000+ universities and 5000+ educational campuses in India.
Led by CEO Ashish Gupta, CTO Bishnu Sahoo, and COO Sidharth Kaul, FretBox has committed to the Digital India mission by 100% digital transformation of these hostels in coming years.
3 co-living chains of 45 PGs together recently signed with FretBox for the digital transformation of the premises.
Q4. What is the lesson learned so far in this journey?
Answer: No matter what expectations others may have of you, always have faith in your abilities and strengths.
Q5. Would you divulge the revenue and aim in the near future?
Answer: We are at positive cash revenue, and the revenue model is validated across all locations
Q6. Did you raise funds? If yes, how difficult was it, or what type of difficulties you faced?
Answer: Yes, recently. However, it’s not just about fundraising but having Selecting the Best Investor
Finding the proper investor and persuading them to invest in your firm takes a lot of work. Investors may view things differently than you do because they have different preferences.
They are subject to limitations regarding their ability to take certain risks, the timing of their investments, and other factors. Finding the ideal investor who is enthusiastic about your project and has complete faith in you is challenging.
Q7. Any new plans you are working on?
Answer: New plans are aimed at geographical business expansion in India and provide
new gate management services
Q8. How are you helping in generating employment?
Answer: Team FretBox is small, cohesive, and highly skilled in scaling Fretbox SAAS across
India
Q9. What tips would you like to give budding entrepreneurs in the same business?
Answer: Precisely 8 Tips:
- Finding a market gap is essential.
- Be aware of your audience.
- Never undervalue the influence of a strong business plan.
- Drive-test your concept.
- Accept criticism, and learn from your errors.
- Create a robust network.
- Make sure your funds are in order.
