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Business Idea

Digital school for getting a job at ₹0/- upfront cost

The Problem

With automation and industry-wide disruption, unemployment rate is at a massive 20.8%!

  • College education prefers theory.
  • Students end up with a poor work portfolio.
  • With no easy differentiator, companies chase top colleges.
  • Millions of good candidates don’t even get an interview.
  • Unemployment increases, despite demand for talent.

Solution

A FREE mobile+web app that can be used by anyone to gain new skills in a gamified environment, build their portfolio and showcase it to handpicked recruiters for a chance to land their dream job.

How It Works

  1. Shortlist 1 in-demand skill, like web development and QA testing.
  2. Reach out to companies hiring for that particular skill-set.
  3. Create career tracks for it, with multiple levels.
  4. Each level should teach a certain aspect of the skill and associated soft skills, with a test in the end.
  5. Conduct practical portfolio-building exercises after a few levels.
  6. Rate and assign points for clearing each practical exercise.
  7. After track completion, allow users to encash their points for interviews at partner companies.
  8. Each interview will have a different point, depending on the company and position.
  9. Those getting an interview call, stand a good chance to get hired.
  10. The ones who don’t get hired, complete post-completion exercises to get more points and apply.

Pricing / Business Model

Good companies are always in demand, and won’t line up to pay new HR companies. On the other hand, asking candidates to pay anything before getting a job, will severely limit the platform’s user base!

Thus, we charge candidates 1 month of their salary, after they get the job.

Since human intervention will just be needed to rate exercises, the app will be highly scalable.

Expected Profits

With COVID forcing industries to go digital, IT skills have the highest demand.

Assuming a track around web development, one can expect similar revenue with bare minimum investment for the first year into operations:

Mobile+Web App Installs (A) 12,000
10% users completing track (B) 1,200
80% of them getting hired (C) 960
Average entry-level salary (D) ₹25,000 p.m.
Total revenue (E = C*D) ₹2,40,00,000
App install expense (F=A*₹100) - ₹12,00,000
Track content expense (G) - ₹10,00,000
Annual pay for 5 trainers (H) - ₹30,00,000
Annual pay for 2 BD guys (I) - ₹14,40,000
Annual pay for 5 ops staff (J) - ₹24,00,000
Annual tech expense (K) - ₹3,60,000
Total expense (L = F+G+H+I+J+K) ₹94,00,000
Total Y1 profits (M = E-L) ₹1,46,00,000

Even if one spends between ₹5L to ₹10L building the initial platform, one can realistically achieve upto ~₹1.4 crores in operating profits with 12 months with proper execution! Not a small feat by any measure, considering the asset-light nature of the business!

Technology

With technology at the heart of the idea, you will need a stable web and mobile app platform to support millions of users across the country (and then the world), as it scales. We (Timespade) would love to build the platform for you. This would include proper brainstorming, UI/UX designing, development, thorough testing, and optimising it on regular basis for success.

If you’re interested, let’s get on a no-strings-attached, discovery call and discuss doing it together 🙂

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