Bussiness Ideas

Furnstella Innovations Private Limited is a Technology-focused, Direct-to-Consumer brand with an objective to provide Affordable, Durable & Customized furniture products through an online platform. We also aim to focus on Social Upliftment in setting up business manufacturing units through independent entrepreneurs, Generating Employment through these business units, and also creating an Alternative Source of Income to non-working / upcoming / budding Interior Designers & Architects through our startup. While the furniture industry in India is ~US$ 20 billion and growing at a CAGR of approximately 12.5% per year, the online furniture industry is only 4% of this huge market, and growing at an average CAGR of close to 20% per year. The industry is slate to reach ~US$ 35 billion in 5 years with the online share of ~22%. There exists a huge market gap for consumers looking to buy affordable, durable and customized products. The online market is presently dominated by Indian startups which provide sub-standard products at an extremely high price charged for convenience. Our idea is to provide a complete furniture solution. Apart from the standard e-commerce store, our customization platform would be one of a kind in our country. Powered by Artificial Intelligence, Machine Learning, Augmented Reality & Virtual Reality, our consumers can create any design through our platform, visualize it in their preferred setup, and order it at a click of a button, at prices that would be one of the cheapest in the country and for the most durable products. At a later stage, we would expand our services to not just individual pieces of furniture but also to design an entire home through our application, including home furnishings. Our manufacturing would be outsourced in every city. Focus would be on passionate and experienced people wanting to start their own business. We would be helping them in securing loans though nationalized banks to set up their unit, train them, and then helping them earn money through their unit. These units would be technologically assisted and monitored by our in-house production & quality teams. This way, the business can be scaled as much & as and when the growth demands and at the same time, with minimum capital expenditure. The furniture industry in our country is a sunshine industry. The online market constitutes to 3% of the overall market but there are another 6.5% consumers wanting to buy online but not going ahead for multiple reasons ranging from price, delivery times, durability, customization, etc. The market is currently ripe for any company providing these benefits to the consumer. The opportunity is huge, and given our commitment, we can definitely scale it to something huge in the coming years. The company is helmed by Shashank Gupta, a graduate in Marketing from the Indian Institute of Management Ranchi, and in Design from the National Institute of Fashion Technology Chennai. He has 3+ years of experience in operations in the furniture & woodworking industry and 4+ years of experience in marketing / sales function in a consumer goods industry. The other director is Nilima Gupta, who has 10+ years of experience in operations in the furniture & woodworking industry.