The Million Dollar Umbrella: A Story of MBA Graduate

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Pratik Doshi, Umbrella

No one have thought of a simple umbrella as a money making machine. But someone did and he is Pratik Doshi, an opportunity seeker who grabbed this chance to make money that is equal to 2 year paycheck of his friends in just quarter of a year. A simple thing that first came into reference 24 century ago is the real source of Pratik’s income now.

How the Story Began?

As an entrepreneur Pratik has been experiencing the up and down of the market since he opened Cheeky Chunk. Cheeky Chunk is the brand under which he sells his products. To make his dream come true this grad boy have to leave his job. Pratik think about this like he never wanted to work seating on a desk to someone else rich. Another thought that stuck in his mind was that it is net been done ever before by anyone and he wanted to go on the adventure of this unexplored path.

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Risk Taken:

Pratik opened his first designed umbrella in 2014. As the founding stone of the business all he got was his saving from the college time that he earned as a tutor. The money was not that big, it was around 1.35 lac only but he wanted to do it so badly, he put all in it. All this money was used in desing and manufacturing of umbrella and building the website. In the starting there was no earning but yes he made quite his name by providing designer umbrellas under affordable prices and idea worked very well.

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This simplistic idea made his friends laugh on him. They thought of it as a foolish idea while they were doing their desk job with heavy paycheck. Starting year was a hustle for Pratik, he struggled in the market to sale his products. Family and some friends still was with him while he was selling these and helped him.

Blooming Umbrella Business:

In a talk with YourStory he said, “After the season, when I was jobless, I was told by people that the ‘time-pass’ was over, and I needed to go get a proper job now.” But now after these years his coin is still spinning. Incepted from saving of 1,35,000 lac to a company with revenue of 35 lac in just quarter of a year is what Pratik has built in these past years.

This whole process of making umbrellas is pretty hectic and his 7 member team is so small for it. This team is comprises of 2 MBA intern, 1 Accountant, 2 dedicated resources who check and pack the umbrella. These 2 dedicated persons do the water testing on each umbrella. Checking each manually make sure that customer do not have to file return.

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He said that the photography played a big role in making his product popular. According to him 50% of the marketing is done by the pictures that customers have shared on the social media and other places. He do not believe in fake review, this practice usually harm the business. Recommendation is the best thing a customer can do for you and this is how he is running his business.

His plan to be wolf among herd of sheep to get ahead of them and make good fortune was brilliantly executed and is still helping in earning a fat amount.

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