In the bustling town of Pithampur, Madhya Pradesh, there is a young, thriving business of an electrical shop called Ma Kripa Electricals. The shop, established in 2008, is the brainchild of Yashwant Verma, a 22-year-old entrepreneur with a passion for business and a determination to make it big in life. Today, we delve into Yashwant's inspiring journey, his association with BharatPe, and how it has transformed his business.
Yashwant Verma has a close-knit family of five, including his parents, two brothers, and a sister. The idea of starting his own business had always been on Yashwant's mind, and together with his brother, he took the leap of faith. While juggling his studies as a Mechanical Engineering Diploma student, Yashwant managed to run the shop effectively along with his brother, both taking turns to ensure its smooth operation.
Before venturing into the world of entrepreneurship, Yashwant gained valuable experience working at a metal foil manufacturing company in Pithampur. However, his true calling was in doing something on his own. Yashwant initially opened a mobile repair shop and later expanded into the electrical appliances and sanitary fittings sector, leading to the birth of Ma Kripa Electricals.
In the early days, Yashwant and his brother relied on their personal savings, including provident funds, to fund the opening of the shop. They also borrowed some money, which they promptly repaid. However, it was their encounter with a service center field executive that introduced them to BharatPe, a game-changer in their entrepreneurial journey.
Yashwant's association with BharatPe began in 2020-21 when he obtained a BharatPe QR code, and later also started using BharatPe Swipe and Speaker. In 2021, Yashwant and his brother took their first loan of Rs. 50,000 from BharatPe Group.
With this capital infusion, they expanded their offerings beyond electrical repair services to include the sale of small electrical equipment. Encouraged by their initial success, they sought a second loan of Rs. 2 lakhs, allowing them to diversify their inventory further. They started adding new SKUs including sound systems, electrical equipment, sanitary fittings, and more. In the year 2023, they took the third loan of Rs. 3 lakhs, contributing to a remarkable 70% growth in their business turnover since its inception.
Yashwant attributes his success to the ease and convenience of BharatPe’s services. The quick and hassle-free process of availing loans, coupled with flexible repayment options, has made it possible for him to expand his business and dream bigger. His vision includes opening a showroom that stocks washing machines and LED lights, which will need an investment of approximately Rs. 6-7 lakhs. Yashwant's determination and ambition, backed by the support of BharatPe, are propelling him towards his goals of expansion and prosperity.
Impressed with his experience, Yashwant eagerly recommends BharatPe to his friends and peers who aspire to make their mark in the world of business. He firmly believes that entrepreneurship offers unlimited possibilities and financial freedom that a fixed salary job may not provide. Today, Yashwant's business not only sustains him and his family but also provides employment opportunities for others.
Yashwant Verma's journey showcases the transformative power of BharatPe in empowering young entrepreneurs like himself. BharatPe has enabled dreams to become a reality, enabling those who are keen to break away from the confines of a fixed salary job and opening doors to unlimited possibilities. As Yashwant continues to build his empire, we are inspired by his resilience, ambition, and his will to make it big in the world of business, irrespective of obstacles.
*BharatPe facilitates loans in partnership with RBI-approved NBFCs.