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The even semester classes for most of the colleges in Delhi have begun and Chandni Chownk seems to the centre of an unusual student hustle bustle. No, I’m not talking about the delicious fried delicacies of the “Pranthe waali gali” I’m referring to the “Nayi Sadak” - The home to region’s extensive Second-hand book market.
Each semester millions of students visit Nayi Sadak to sell and purchase second-hand/new books. They travel for hours, draw the burden of books, and still don’t get satisfied by what they get at the hands of second hand book traders.
For a book of MRP 400, the second-hand retailer pays back the student just Rs160 (40% of the MRP).
He then further sells it for Rs240 (60% of the MRP), thereby making a profit of Rs80 (20% of MRP) on a single book.
Hence the student loses onto two precious things:
1.) Time – Wasted in travelling and visiting the dealer
2.) Money – Paid as the profit of the dealer.
To solve this problem, we came up with a solution – Book Inn
Book Inn aims to attack on the 20% margin that the dealers pocket with themselves. From this 20%, we’ll offer the students free home delivery and pick up of books, rebate in purchasing new books and more value while selling off the old ones.
For example, of the Rs80 earned by the dealer, Book Inn will utilize Rs35 for the pick-up and delivery of the book (rates confirmed as per our talks with courier agencies).
From the remaining Rs45, we take out Rs2 (as our running and maintenance costs).
Money left = Rs43.
We’ll pay Rs(43/2) more to the person selling the book, and charge Rs(43/2) less from the person buying that book from us.
Hence, advantage customer.
Both the customers -> 1 and 2 are saving Rs21.5 and getting their books picked up and delivered at home.