India’s working population is set to increase 36.5% by 2025. Where will all these people go to find jobs? They will head towards urban centers, which will be driving the Indian economy in terms of job growth. With urban centers getting more and more packed affordable housing is going to be harder and harder to find. By positioning the site as a facilitator of this migration, we are in effect doing a public service and helping an industry organize. The key is to service two niches at the same time, young professionals and students. Paying guest accommodation will cater to students and those on a strict budget. Young professional will lean more towards private housing for a sense of independence. Private housing is expensive and to subsidize their rent they will look for roommates. By positioning the site to offer services to both segments we effectively position ourselves for cross over business and a greater target segment.
The business was conceptualized while working in the corporate world. Every year a new batch of fresh graduates would join the company and have to look for housing. The company provided them with free accommodation for only 2 week after which they were required to move into their own private accommodation. Many of these fresh graduates struggled with finding affordable housing. They had to network through shady brokers or go door-to-door. We saw this as a niche which no one was serving. Internet penetration in this demographic is high so placesnpals.com was born.
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Website URL - http://www.placesnpals.com
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Blog URL - http://blog.placesnpals.com/