13-year-old Mumbai boy is a budding-entrepreneur of a logistics start-up
Tilak Mehta is like any other teenager. The 13-year-old attends a Mumbai suburban school and rues about his father coming home from work late. But the similarities stop there. He's a budding entrepreneur who founded a logistics start-up, sold the idea to a banker and convinced him to quit the job and join him as the chief executive. Here's all about the young entrepreneur.
This is how the idea of the start-up struck Tilak
"Last year, I wanted some books from another end of Mumbai urgently. I couldn't ask my father as he came home tired after a day's work," Tilak said. That's when the idea of having a start-up for delivering papers and small parcels within Mumbai struck him. The idea was presented to his father, and Tilak came out convinced that this needs to be pursued.
Tilak ran a beta for four months before official launch
Tilak's father Vishal is the chief executive of Rushabh Sealink, a logistics company that could have helped him, but Tilak went through the grind, researching the concept and running a beta for four months before formally launching it today. "Papers N Parcels (PNP) is my dream and I will work to ensure that the business becomes big," the boy beamed.
How exactly does PNP work?
PNP uses a dedicated mobile application for business, 200 employees and 300 Dabbawalas for handling up to 1,200 deliveries daily. Any customer can log in to the app and place an order for a consignment. Same-day delivery is assured if the order comes in before 2:30pm; the customer gets to see real-time updates on the movement of the parcel, including who is handling it.
How much does PNP charge per delivery?
PNP has a defined area of operation connected by Mumbai's famed train network, with a central hub at Dadar in central Mumbai. It handles parcels of up to 3 kg and charges Rs. 40-180 per parcel depending on the weight.
Tilak also convinced Mumbai's Dabbawalas to lend a hand
The initial capital for setting up the operations and developing the mobile app has come from Rushabh Sealink. The minor entrepreneur also roped in the famed Dabbawalas of Mumbai to lend a hand and help him with the last mile delivery. "The Dabbawalas will do the delivery for PNP after finishing their day's work," Dabbawala Association spokesperson Subhash Talekar said.
Will give extra income to Dabbawalas: Talekar
"Our association has not officially tied up with PNP and it's up to every individual Dabbawala to associate with them. I think it will give them an additional income," Talekar said, adding a Dabbawala can earn up to Rs. 10,000/month by becoming a partner.
PNP targeting a turnover of Rs. 100cr by 2020
At present, PNP is paying a fixed amount to every Dabbawala but will shift to a per-delivery basis. Ghanashyam Parekh, the banker-turned-CEO, said, PNP is also open for strategic tie-ups with companies like Swiggy if there is any possible synergy. The company is targeting to capture 20% of the intra-city logistics market and a turnover of Rs. 100 crore by 2020, Parekh said.
