India has always come up with new entrepreneurs and with their innovative ideas and creativity. It is believed that innovation can be done at any age and this has made many people show up with their unique ideas, talents, a spirit to create new things and bring a change with the best solution to the surroundings to solve different regular problems which people deal with every day in their life.
Here comes the role of a 17 year old boy named Abdussamad who turned out to be a successful entrepreneur of India. He introduced a venture named “ShabnamStays” and became the successful youngest entrepreneur in the world. He was born in Katihar, Bihar, India in the year of 2005. He studies in Aakash Institute Delhi in Xll standard.
ShabnamStays is basically a Student Housing Company, which provides fully-furnished residences with amenities like meals, internet, laundry services, housekeeping, security and community engagement programmes. The company has an asset-light business model under which it engages in long-term lease agreements with property owners/developers, who convert their assets into shared living residences as per company guidelines. These assets are subsequently operated by ShabnamStays.
History and Growth of the Entrepreneur
Abdussamad is just the same as any other teenager in India. He studies in a school in Delhi, Like every other child, But it has understood its responsibilities too soon, At the age of 15, he wanted to become an entrepreneur, that’s why he started doing business by opening a tea shop at the age of 15, can you imagine how business minded he is, he named his tea shop as OyoTea Cafe, because oyo word was very famous for couples, Many couples were attracted due to its name, business was going well, Then he started online grocery start up Oyozon,
He had to close his start up due to his young age and lack of funding. And started focusing on studies
In Kota, he saw that there is a lot of hostels here, but there is no hostel brand which is known for good facilities, Students were tempted to have good food and facilities even after paying good rent.
Seeing this, Abdussamad got the idea to open his hostel, he did market research and in some way took a hostel lease by juggling, and it started the hostel with full facilities in just 6000 rupees and within a few days the hostel was full,
As soon as the first hostel was full, by investing the security money and advanced payment from its tenants, took the second building on lease, By putting his mind and marketing strategy, he became a big player of Kota in a lot of time, then it has registered its group of hostels as a company named Shabnamstays,
In the future, he wants to make education affordable with the help of his company. And want to spread your company’s hostels in every part of the country Abdussamad only inspires budding entrepreneurs but also many parents who should support their children’s ideas and dreams ignoring all the odds and negativity. Any child who is curious about knowing and learning new things about everything can be the next young entrepreneur of the country. Abdussamad a 17-year-old boy becomes the youngest successful entrepreneur of not only India but in the world. His simple and creative idea of ShabnamStays providing thousands of students a chance to stay in good and cheap hostels, which is benefiting the poor children a lot.