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Latest Startup News - Indian Startup To Touch New Height Amidst Covid-19

The Pandemic of Covid-19 took the world by storm, everything was shaken to its core. Even some businesses that had deep strong roots, couldnu2019t endure itu2019s ferocity. While the world was learning to continue living amidst the impact of covid-19, there was a rising startup which was on its way to glory. While the waves kept hitting the world, u2018The New Shopu2019 a startup by two brother-sister and a friend, knew how to ride this tide and find the kingdom of new success<br><br>For more updates on latest startup news follow us at https://entrackr.com/category/startup/

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Latest Startup News - Indian Startup To Touch New Height Amidst Covid-19

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  1. LatestStartupNews- IndianStartupToTouchNewHeightAmidstCovid-19 Covid19Impact onStartups- ThePandemic of Covid-19tooktheworldbystorm,everythingwasshakentoitscore.Evensomebusinessesthathaddeepstrongroots,couldn’tendureit’sferocity.Whiletheworldwaslearningtocontinuelivingamidsttheimpactofcovid-19,therewasarisingstartupwhichwasonitswaytoglory.Whilethewaveskepthittingtheworld,‘The NewShop’astartupbytwobrother-sisterandafriend,knewhowtoridethistideandfindthekingdomofnewsuccess FoundedinMarch19bybrotherandsisterAasthaAlmastandCharakAlmast,andtheirdearfriendManiDevGyawali,TheNewShopfundamentallyisachainof24-houropenconvenienceretailstoresthatarelocatedinvariouscornersoftheworld.LeadandownedbyAccelerateProductXVenturesPvtltd,TheNewShophasanaimtobecomeabrandthat'sjustawalkawayfromeveryone’splace. “Indiaisabuddingcountrythatisonapathtogrowthandthereforethethird-largestconsumermarketglobally.Thenewon-the-goandmodernlifestyleofIndia,needsregulated,normalizedandhygienicretailservicesacrossthecountryataffordableprices,attransitpointsandaroundtheclockservices,” said35-year-oldco-founderAasthaAlmast.“Wewantedtoexperimenttofindtheperfectsizeoftheshopandanexemplarylocationforexpansionofourbrand.Wefinalizedthreestoresizes,small(10sq.ft),medium(50sq.ft),andenormous(100-150sq.ft),”saidManiDevGyawali. ThefoundersofthisRisingStartuptestedeachofthosestoresizesatsevenlocationcategoriessuchaseducationalinstitutions,officesandco-workingspaces,hotels,shoppingcomplexes,collegehostels,andrailwayplatforms.TheyalsoexploredwiththedifferentmerchandiseoptionstomarketmoreIndianproductsthatactasalternativestotheirnon-Indiancounterpart.Thentheymeasuredtheiracceptanceinanecosystemwherepeopleneedthosegoods,anditworkedwellforthem. “ByJanuary2020,wegrewtoanumberof100storesalloverDelhiinallsizesandevengrabbedadealwithIndianRailwaysfortheirplantoexpandTheNewShop,”saysAastha.Thisledtherisingstartuptoreachnewtransitpointswheretheycouldexploretheirbusinessstrengthsuchas,highways,petrol

  2. pumps,andbusterminals.Butwhentherisingstartupstartedtouchingnewheightsofsuccess,thepandemicbroughtthemontheirknees,andeveryoneofitsstoreshadtoshutdoorstowalk-incustomers,duetogovernmentregulationsandcurfews.However,whatcameasablessingindisguiseforthemwastheveryfactthattheywerealreadyworkingonatechnologyforomni-channelselling,whichwassupposedtobelaunchedinthefuture,afterthecompanyhadgrownexponentiallyandhadreachedahugescale,”saysAastha.pumps,andbusterminals.Butwhentherisingstartupstartedtouchingnewheightsofsuccess,thepandemicbroughtthemontheirknees,andeveryoneofitsstoreshadtoshutdoorstowalk-incustomers,duetogovernmentregulationsandcurfews.However,whatcameasablessingindisguiseforthemwastheveryfactthattheywerealreadyworkingonatechnologyforomni-channelselling,whichwassupposedtobelaunchedinthefuture,afterthecompanyhadgrownexponentiallyandhadreachedahugescale,”saysAastha. The NewShopearnsmoneyfromthesaleofproductsatitschainof24*7openstoresandworksonavariablecostmodelofbusiness,whereitworkswithhighermarginbrandsandeveryoneofitsoperatingcostsshareapercentageofthatmargin. Presently,allofitsfunctionalstoresearnagoodrevenuetoboostthestartupfinancials,betweenRs15lakhpermonthtoRs30lakhpermonthandareearninggoodprofitonuniteconomicslevel. Formoreupdatesonlateststartupnews followus.

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