If you can shop for jeans and mobile phones right from your smartphone, then why can you not also shop for construction material right from your living room!
In a thirst to make construction & design related buying decisions simple Mohit Goel and Nalin Saluja founded Supplified – an online marketplace for building materials and finishing products. Whether you’re constructing rustic multi-storey towers or building a humble drawing room, they commit to stand by you from the beginning to the end.
Supplified aims to solve complete procurement problems of both retail buyers as well as SME contractors and builders by organising construction materials market.
The goal of Supplified is to provide transparency in pricing, high quality products, ease in buying of building and finishing products. It makes easy for developers, builders & contractors of all sizes to get all sorts of construction materials & machinery delivered right at their doorstep at the lowest possible prices. On its portal, Supplified sells raw material as well as finished goods ranging from cement, steel, doors, paints, water purifiers, tiles, building cleaning and maintenance supplies, plants and home decor, among others.
Both Mohit Goel (Founder) and Nalin Saluja (Co-founder), hails from business families with their fathers being their life mentors.
Mohit says,”his father comes from a small town at the periphery of the capital, who has made it big in life through his hardwork and a burning entrepreneurial zeal. He started with a mere Rs. 500 in his pocket and ended up establishing one of the largest real estate empires in the north india. A typical rags to riches story was what Mohit was being raised up with. Every new lesson of entrepreneurship and business was brought to the dinner table by him.”
“My father has been an inspiration and the biggest mentor for me all my life as he started his business with Rs. 25,000 in hand right after obtaining his engineering degree. Having been through several economic cycles & upheavals, his business & management principals are mantras I choose to live by,” says Nalin.
Mohit & Nalin with a real-estate background met at ISB, Hyderabad where they were attending a workshop on Real Estate Project Planning & Valuation.
They started working closely and became good friends. In fact, the root of the idea for Supplified was also born in one of the CREDAI Youth Wing meetings where Nalin brought up the need for all developers to develop a mechanism for collective purchasing. That idea then did not take off, but sparked off a thought in Mohit & Nalin mind.
The idea of Supplified came when Mohit was working closely on the Purchase Department of his Real Estate firm and he realized that there is a massive opportunity to optimize the system not just for his own company but also for the whole industry. The opportunity lied in making the process more tech dependent and driven rather than relying on Human intervention.
Mohit and Nalin bootstrapped Supplified with their collective funds of approx. $1 million. They are looking at raising VC funding later this year. They have currently 1654 registered users with average transaction frequency of once a week per user. They’ve had sales of INR 6 Mn in the month of Feb’16 that is growing at a rate of 110% every month. They plan to expand into Chandigarh, Ludhiana and other tier 2 – tier 3 cities by the end of this year.
“One of the biggest challenges we faced was of attracting good talent. Most of the ‘creamy layer’ of talent available out there is looking for more secure roles than what a start-up can promise. To counter that, we personally got involved in each & every recruitment and ensured we share our vision & inspire leadership in the candidates that we liked & wanted to bring on board,” said Nalin who believe a good team is biggest strength of successful business.
Sharing his tips for aspiring entrepreneurs Mohit said, “Identify a genuine problem in the economy and provide a fantastic solution that speaks for itself. Then focus on building a team that is as passionate about the solution as you are and you would start to notice that all the hard work that you put in becomes fun and when work is fun, thats when great products are built.”
Besides Supplified, there are some other players in the segment like Buildzar based in Delhi, Msupply and Buildkar in Bangalore and Econstructionmart from Gujarat.
According to a news report by PwC, India’s construction sector is presently worth US$ 310 billion & forecast to grow at 7-8% each year. As a tech company Supplified want to revolutionize the real estate and construction industry & is creating an ecosystem that is favourable for buyers and sellers in changing the way people deal in construction materials.