Formula 69

Startup started from a room with plastic furniture now owning two successful ventures

Today start ups are hot cake to discuss, young and talented guys are coming with n number of ideas some are converting them into big ventures and some are making back steps due to various challenges.

Finance is one the biggest challenge in the initial face of any start up. But some people are so dedicated to make their start up success; they never get down by any of the challenges. Today we are having such example with us that is Formula 69 Tech Solutions Pvt Ltd. which was founded in late 2015 and started as digital agency and later established their two own ventures. In a short span of time Formula 69 served clients like Delta Electronic, Trinity Club, Chamtech Engineering, Coco day, Casio, Good year tyres and Renault Automobile and parallel launched two of their ventures: one is an online magazine and other is an online market place for fashion and handmade jewelry .

When the company was started it was just a single room with plastic table and few chairs, but both the founder Varun Garg and Ashutosh Gaur have a clear vision in their mind to take the venture to the next level what so ever challenges would come in the way and facing lots of challenges they made their way of successfully setting up their ventures. Varun is MBA in marketing with a wide experience in advertising and marketing, so handling complete strategically and planning part of the company and Ashutosh is a tech guy, so managing technical in outs of the projects.

Social Tahelka is a well known e-magazine in the market, covered 600 plus articles on multi-genre inclusive approx 70 interviews of prominent personalities at national and international level in various fields. Content on the e-magazine is very interesting along how impressive it’s presented.

Other venture of fashion and artificial jewelry shows the dedication of the team, the way did marketing research found the gap is such a competitive market of jewelry where already big players are doing well.

Team found the gap how and where can find the vendors, variety of the products resulting in getting good customer base.

It would be one of the biggest online market place for fashion, artificial and handmade jewelry. They have open the way for the ladies who are manufacturing jewelry at a very small scale either it can be manufacturing at home or with a NGO under employment scheme, they can register them with Jewellery18 and can sell their jewelry products online. Under this special provision manufacturers need neither VAT registration nor service tax nor company registration alike to sell on other online market place. It would definitely result in getting more new variety of jewelry for the customers. As per the plans Jewellery18 will bring jewelry like paper, terracotta, leather, textile, beads, wood etc along with variety of American Diamond, Polki or kundan. Best point is their price range from Rs. 199 to Rs. 14,999.

According to Varun he got the idea of Jewelelry18 when he was visiting Taj Mahotsav few years back, but he feels idea can be successful when it has a proper research and strategically planned. So he invested lot of time to make it a concreted plan. His research can be seen even in selecting the name of the venture “Jewellery18”, 18 years of age for a girl is when she moves from school to college and looks like to be funky with variety of accessories matching her dress, but due to limited pocket money they like to have alternate options of precious jewelry. For buying such variety girls trend to do shopping from places like fashion street market or trade fairs. So it was decided to launch this venture with the name of Jewellery 18.

So we can all hope for the success of Formula 69 and its ventures, that’s true when someone is doing something from heart and brain and has a support of a good team, neither idea can be a failure.

We wish Formula 69 team for a great success in future.

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