There is nobody in this world who wants to lead a frugal life. Though we all dream of being successful very few of us actually get to relish the taste of success. Many of them give up dreams midway due to lack of perseverance or loss at some point or some distractions. But none of these negative factors defeated Yuvraj Aman Singh as he pushed himself to do better and hence he succeeded in becoming a great Indian entrepreneur and businessman.
A small business venture that sold refurbished and unboxed phones on a table outside a Sony Ericsson outlet in South Delhi has made rapid strides to grow into a Rs 150 crore turnover company in just eight years.
From selling secondhand mobile to building a 150 crore rupees empire, this is one of the most inspirational stories. Yuvraj Aman Singh, who is now an established player in the refurbished phone market, recalls the day he started the business.
“We put a table outside the outlet and started selling the phones. Within no time a huge crowd gathered around the stall and we had to call the police to control the crowds,” says the 34-year-old first generation entrepreneur.
Gradually the popularity of the shop has increased to a great extent. Many times a huge crowd is seen outside his stall. At times, when the crowd becomes uncontrollable, Yuvraj has to call the police to disperse the crowd.
Headquartered in South Delhi, Rocking Deals, a subsidiary of Technix Group of Companies sells around 50,000 refurbished mobile phones in a year. They also sell refurbished tablets, power banks and mobile accessories. Singh comes from a family of civil servants, his grandfather and father were both IPS officers.
The company purchases returned phones, unboxed, and End-of-Life (EOL) products from leading brands such as Apple, Samsung, Sony Ericsson, LG, Micromax, Nokia, HTC, Sony, Xiaomi, and Blackberry and refurbishes them at their factories in Delhi and Bengaluru.
Singh, who completed his degree in Business Information Systems and Management from Middlesex University, UK, is the Managing Director of Technix Electronics Pvt. Ltd and Rocking Deals.
It is to be noted that he worked at his brother-in-law’s warehouse in England for a year before returning to India in 2003, where he took up a franchise of Tata Teleservices.
In 2005, an ex-Tata employee introduced Singh to an acquaintance in Sony Ericsson, who offered him an opportunity to sell the company’s refurbished phones.
Singh accepted the offer and did his best to sell the refurbished phones from outside a Sony Ericsson outlet in New Friends Colony, South Delhi.
Singh saw that the response was amazing. Since then, there has been no looking back for him. “I thought this is the business to be in. Margins were good,” he reminisces.
Later, he signed up with Samsung in 2008 for purchasing its old phones. He refurbished the same and sold them through Flipkart. It was the launch of Rocking Deals. The company made a turnover of Rs. 20 crore in the first year.
Their mobiles are now also available on ShopClues, Amazon, eBay, Snapdeal, Quikr, Junglee and Zopper.
Yuvraj has divided products into three categories – A (with no scratches), B (with minor scratches) and C (phones that are slightly damaged) – and priced differently.
As many as 200 employees are working in the company. The company is linked with DTDC courier service to pick-up phones sold by them for after-sales service and repairs across the country.
Singh is proud of the fact that Prem Singh, the longest serving employee of Technix, still works with him and lauds his senior employees for giving their best for the growth of the company.
According to a survey which was conducted recently by ShopClues, it has been learnt that 70 percent of its total mobile customers were drawn to refurbished devices as they are being offered at a lower price.