₹0 digital school for getting hired
As of this June, 1 out of 10 Indians is unemployed!
While COVID seems to be responsible, it simply accelerated an inevitable disaster. Here’s the chronology:
- College education still prefers theory over practice.
- Students end up with an unappealing work portfolio.
- With no real differentiator, credible companies chase the top colleges.
- Millions of qualified candidates don’t get to present to the right recruiters.
How Big It Is
Assuming that the problem can be tackled with relative ease for the urban youth, to begin with, we are looking at 3.45 crore target candidates.
(48.3 crore urban population) x (65% under age 35) x (11% unemployment rate)
If just 3% of them agree to give us 1 month of their salary for getting them an entry-level job of ₹2L per annum or more at a reputed company, we are looking at a Total Addressable Market (TAM) is ₹1,725 crores for 2020.
(3.45 crore unemployed youth) x (3% ready to pay) x (1/12 x ₹2L)
A “free-to-join” online finishing school, where handpicked recruiters get access to technically-qualified candidates, with a strong work portfolio.
- Begin with just 1 career track, which is in demand.
- Reach out to credible companies who are hiring for it.
- Offer detailed performance analytics of candidates and FREE hiring.
- The catch: Those meeting their hiring criteria are guaranteed an interview.
- Qualified candidates are picked via our own entrance test.
- Mentors are assigned, who work with candidates to build their portfolio.
- Regular learning and concept clarity sessions are conducted.
- Each portfolio is peer-reviewed on our platform and improved over 7-weeks.
- Those failing to catch up, are removed from the school.
- With a strong portfolio, candidates have a 1-week HR training, to polish their soft skills for interviews.
- In the end, our partner companies hire from a vetted talent pool.
Pricing / Business Model
Reputable companies are in high demand. So we charge them nothing!
For candidates, all we take is a ₹10,000 refundable deposit for the finishing school, to reduce midway dropouts.
If we get them a credible job after the finishing school, with a salary equal to or more than the promised sum, they pay us 1 month of their salary. The same is deducted directly by their recruiter and paid to us over 4 months.
With COVID forcing industries to go digital, IT skills have the highest demand.
Assuming that we run multiple batches around a single track of web development with a ₹3L base entry-level pay, the following revenue can be expect for the first year:
|Candidates in Year 1 (A)||1,500 (30 batches of 50 each)|
|Will leave during training (B)||150 (10% of batch)|
|Will not get the promised jobs (C)||135 (10% of graduates)|
|Those securing a job through us||1,215 (A-B-C)|
|Fees on recruitment||₹25,000 (1/12 * ₹3L)|
Thus, you can achieve a ~ ₹3 cr revenue in 12 months with proper execution!
If you love the business idea and would consider building it together, let’s get on a no-strings-attached, discovery call 🙂
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