Elite Book Hoard ….a book bank for colleges

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In India where there is a huge no of colleges this idea is very much appreciable…
As we always say that “need is the seed to business”

In college education Library or book-bank plays a very vital role but every college is not able to provide such kind of facilities.
The other option is private book stores but the cost is very high. And various books are useless after exams so student dont get a handsome price for his books.
When the founders of Elite Book Hoard faced this problem they found the solution to the problem in the form of “Elite Book Hoard..”

It is a Chennai based startup….

What is the idea??

Elite Book Hoard have started a book bank inside their college campus with the permission of their institution. They lend books to the students at one go for four years. They collect an advance amount of Rs. 1,750 from the students, out of which Rs. 500 is refundable after four years. Every semester the student needs to pay Rs. 500 for the books.

The bookstores outside the campus charge upwards of Rs. 1,000, and the department books and very costly. Students usually find book banks a better place to buy books from. They compared the rates of all the book banks around them and structured their prices to be lesser than them.

The main benefit for the students is that they get the books in the starting of the semester itself so they need not to wait for the books.

In a very short span of time they have around 70 customers and total cumulative revenue around 30000….

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Mohit Bansal(23) is B.Tech in Electronics and Communication Engineering from Indian School of Mines, Dhanbad, India. He has interest in business and entrepreneurship and has published couple of research articles. He is also associated with various NGOs. He is with Techaloo when it was just in concept stage. The Techaloo site was not existing even then. Currently Mohit is working with Mu Sigma as a Business Analyst Profile.

2 Comments

  1. Rakesh,

    Yeah its true that this is used in colleges under “Central Library System” , but this is the first venture which is run by somebody other than college administration and generating revenue out of it.

     

  2. Rakesh Varma says:

    I appreciate your review on the elite board system. This is a very good system and is already being implemented in each and every college which is having a central library system. My college is following the same from last 9 years.Inspite of good concept, i dont think its an idea after 2008

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