WAY TO SUCCESS-A Story of Professor to Entrepreneur (Solar Business Owner)

WAY TO SUCCESS

A story of Solar-preneur

Name of Entrepreneur:                 Er. Virendra Dilip Thoke (M.E. Computer)

Post/Responsibility:                       Founder/Exe. Director/Marketing Head

Start-up Company:                        Spark Industries

Place/Location:                               Vita (Sangli-Maharashtra)

Website:                                           www.sparkenergy.in

History before Start-up:

• After completing his Master degree, He initially started his career in teaching field.
• He was employed in teaching field for about 05 yrs.
• Meanwhile, the idea was taking place in minds of Er. Virendra Thoke and his colleague/partner.

Start-up of Spark Industries:

• The idea was totally electrical based, to start a solar startup as in need and scope of idea.
• The company was now officially on paper with all necessary documents fulfilled on 03^rd March 2016.
• The company was carried out on part-time basis with some few and small scale jobs. It moved on like this for about 03 yrs.
• On excess demand of solar in local market, he and his friend decided to quit the job and to run the business fulltime in 2019.
• Company has started two more units in F.Y. 2019-20 and now totally running three units-Solar, Earthing and Lighting.

Problem faced during Start-up:

• Spark Industries was started as partnership firm, registered with MSME.
• Initial problem faced was the registration for Udyog Aadhar and GSTIN, agents were demanding huge amount, so preferably got all the necessary details, registered for MSME-Udyog Aadhar and got GSTIN number at free of cost by doing all process by them.
• Funding from Bank (HDFC/BOI/SBI) was not available even under Mudra Yojna.
• Each bank insisted to (open an account-run an account-show transactions) and then claim for the loan. This was the situation in 2016.
• Company do faced some technical site issues regarding solar grid connection, solar grid approval from MSEB.
• Despite of being Masters in Computers, all the technical issues of electrical, was handled as a new challenge and with cool mind.
• After getting all knowledge and technical practice of solar connections and sites, all the sites were handled in proper way with all necessary standards and precautions.
• Now, all fulfillment of technical knowledge, without any funding and with some personal investment, giving lots of efforts, company executed two big solar projects of residential areas.
• As, the company comes under Trade & Service sector, it doesn’t need huge investment.
• Hence, with less personal investment of Rs. 10,000/-, the company was established with small office.

Marketing and Sale Strategies:

• The core team was having zero experience of Sales & Marketing.
• First F.Y-2016-17, was gone with some few jobs of solar street light maintenance.
• In F.Y. 2017-18, the decision was taken to use, social networking and relatives, to publicize the existing of company and we got our first residential site.
• Many ideas of marketing logo, pamphlets, visiting cards, brochure and policies were tested.
• In 2018, the useful pamphlets, logo, visiting card, brochure and policies were made final.
• In policy, it was discussed to use social networking, customer-customer sales, paper ads etc.
• The F.Y. 2018-19, got enough sites of solar, earthing and lighting, to make our business profitable with all expenses.

Social Attachment:

• Spark Industries, also has social attachment of providing 5 to 10 free Solar Home Lighting Kit yearly on Ch. Shivaji Maharaj Jayanti, costing Rs. 10000/- under the slogan of Making India Green!, to nearby slum areas where people still don’t have any electricity connections in home.
• Spark has been conducted such great event since, 2017 every year.
• It’s just like donation of their some percentage of yearly profit.

Annual Turn Over:

• Spark Industries, has started its business with just Rs. 10000/- and now working with annual turnover of Rs. 25 lacs, in just one full time year, i.e., F.Y. 2019-20, without any source of funding and business background.

Target Goal:

• Spark Industries, planning to start a new unit under food sector, with annual turnover target Rs. 50 to 75 lacs.
• The company aims to achieve annual turnover of Rs. 04 to 05 Cr, upto F.Y. 2023-24, in their five year plan

Tips to New Entrepreneur:

• Try to execute the ideas as soon as possible, whatever may be the situation.