“Dream big and follow your passion”: Rohit Jain, Founder MagicKart

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mkE-Commerce industry is one among the two fastest growing field for start-ups today. (See Mohit Bansal story Entrepreneurial Survey – Results on Techaloo). It has shown really exciting growth trend in recent times thanks to increase in number of internet users. Some ventures have utilised this situation well and have earned name for them. One such store is MagicKart. Founded in October 2011, MagicKart is probably India’s largest retailer for kitchenware and dining ware products. Its founder Rohit Jain despite of his bad health agreed to narrate the story of MagicKart to us. Read it here

 

Techaloo: You are postgraduate in marketing from Nottingham University. Lucrative white-collar job offers must be around the corner for you. But you chose to be an entrepreneur. Why? What was your motivation?

RJ: Like the saying goes, the grass is greener on the other side, yes a white- collar job after my Masters seemed the most ideal step, but having said that it does not give you space to follow your dreams and passion of doing something which is dear to you.

 

Techaloo: Tell us about the backgrounds of co-founders. How do you know each other?

RJ: The venture is started by Rohit Jain and his uncle Girish Jain. Rohit Jain is the CEO and run all the day to day functioning  of the company. Rohit, completed his masters from UK, returned and joined a tools manufacturing company with Italian collaboration, successfully ran it for 4 years, before starting MagicKart. Girish Jain is the visionary and has over 25 years of experience in kitchenware & housewares industry.

 

Techaloo: Market is flooded with E-commerce ventures. How is yours different?

While brainstorming at inception, we did have this thought of E-commerce industry being flooded with many players. While this holds true, there is a lot more growth still in this sector and we believe to be a differentiator among the crowd, you have to catch hold of a niche category and look to be a leader in it. This hold true for MagicKart, it concentrates on kitchenware products and focuses all its energy in being a trend setter, in bringing in new and innovative products which have not been seen in the Indian market.

 

Techaloo: What is the vision of your company? Who are your target customers?

Magickart’s vision is to be a single stop online retailer all things kitchen. This includes the largest range of kitchenware products to choose from the best in the world. The primary TA are women (single women, working, housewife, etc.),  we have also realized, there is a substantial male audience who are looking for options in choosing the right product mix for their homes. This has time and again been proved to us by our loyal customers who now tell us, cooking with the right products and tools could make our meals simpler, faster and exciting. Many have written back saying, we every now and then invite people for dinners at home rather than going out, which we believe is a wonderful experience.

 

Techaloo: What was your initial investment? How did you arrange that? And what is your turnover now?

RJ: MagicKart is a self-funded venture. At this juncture we would not like to disclose of financials. We hope you would understand, and in nor way are we trying to be rude.

 

Techaloo: You claim Magickart is India’s one of the largest E-commerce companies. How hard was reaching so far? 

RJ: Magickart is one of the largest online retailer of kitchenware products, hence one of the largest e-commerce companies in the kitchenware sector. We have over 5000 products form 50 plus brands both Indian and International.

 

Techaloo: How would you sum up your journey so far?

RJ: It’s been a great learning and enriching journey form inception to getting a foothold in the online market. With all the challenges and struggles, it has been a very fruitful journey so far, but the real test is now to take MagicKart to the next step, which we are very excited about.

 

Techaloo: What are your future plans?

RJ: We plan to have product listing of 15000 and more product by the year end. We want to associate with more international brands which have made it big in their geographic region and are targeting India as the next potential market. We also hope to collaborate with partners across the globe so we can ship products across the world with the help of our partners, as we have seen a huge demand & potential for Indian products across the globe.

 

Techaloo:  “Indian eco-system does not encourage entrepreneurs,” Your take?

RJ: I agree to a certain level to this statement, but it’s got to do with a no of points. There is no mentorship for young entrepreneurs, no platform to showcase their ideals and prototypes, no investments assistance, lack of knowledge transfer and assistance. Having said that, there is sea of change happening as we speak. Many platforms have opened up to showcase these young entrepreneurs ideas, mentorship programs have sprung up, which is very necessary for this eco-system to survive and evolve. Its encouraging to see such initiatives, but they need to be structured more so they can incorporate a lot more.

 

Techaloo: Do you think having prior experience is must to be a successful entrepreneur? Or would you advice to jump directly in the business?

RJ: Both have their pros and cons, but I personally feel a prior knowledge always gives it an upper edge. Having said that, it is ‘passion’ which is the real driving force to ones own success.

 

Techaloo: Your tips for aspiring entrepreneurs.

RJ: I am too young to be giving tips, but dream big and follow your passion, cause there nothing which will give you more satisfaction than doing something which you want to do, and not getting tangled up in the between social and personal goals.

 

Techaloo: What do you think about Techaloo?

RJ: I have not seen much of Techaloo, but of what I have seen it looks very promising and creates a platform for young budding entrepreneurs to showcase their work, which I believe is the most essential thing.

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