Pranjali – Can this First-Time Woman Entrepreneur Scale up for Success?
Code : LDS0052 |
Region : Asia |
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ABOUT PRANJALI : Pranjali was born into a non-business family and her father worked in the Government sector. Since childhood, her family had wanted her to study and become a government employee. The family influence led her to focus on preparing for the various examinations held to recruit employees for central and state government services.. ENTREPRENEURSHIP TRAINING AT NATIONAL INSTITUTE FOR MSME: As a first time entrepreneur, Pranjali had no clue on how to set up a business or whether her idea of offering nutritious traditional Indian snacks and sweets made business sense. She was looking out for options and in the process found that the National Institute for Micro, Small and Medium Enterprises (ni-msme) based in Hyderabad, Telangana, had an Entrepreneurship Development Centre (EDC) that offered training and support to entrepreneurs.. PRODUCT DEVELOPMENT: Pranjali decided to build upon her initial idea of developing a nutritional snack. She referred to a large body of ancient texts including ayurveda that prescribed various ingredients that were immunity boosters. Her objective was to have a product that emphasized the importance of nutrition over calories since many marketers were offering a range of supplements like health and energy drinks to manage the body's nutritional needs. Based on her research and inputs from her mother she came up with the idea of a ‘dry fruit laddoo’.. LAUNCH OF BUSINESS: Once the product was finalized and a test batch was prepared, Pranjali distributed free samples to family and friends. Based on their positive feedback, she took the next steps to get the MSME Udyam Registration, FSSAI licence, GST Registration, License under Shops & Establishment Act (Gaumasta) and Trademark registration.. DECISION TO SCALE UP: The laddoos were well accepted and Pranjali did brisk business soon after the launch. With increasing sales, she decided to move out of her kitchen at home to a standalone separate unit in Nagpur in 2021. Pranjali realized that there was a lot of scope for such products as it was a good gifting option and a good replacement for sweets which were generally considered unhealthy.. PRANJALI: A LONG WAY TO GO: Pranjali soon realized that getting assured quality raw material at a good price was critical for her business since scaling up would entail offering the product at lower prices. In the initial days, she was able to manufacture and supply a maximum of 500 kg of laddoos per month. As such, she did not face a difficulty in terms of procurement or cost fluctuations..
Exhibit I : Training Programs at NI-MSME |
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