Previous youngster loom specialist constructs electric bike brand, rounds up Rs 6 crore in under a year

From exiting school after Class six, clearing Class 10 through an open school program, and afterward completing a diesel repairman confirmation course, Devireddy Venugopal kept on advancing in life in spite of the chances. Afterward, he began his profession at 19 years old as an unassuming assortment leader in a money organization for a compensation of Rs 5500.

From dropping by the wayside of college once category six, clearing category ten through the associate degree open school program and so finishing a diesel mechanic credential course, Devireddy Venugopal continued to progress in life despite the odds.

Today, eleven years later, he owns an electrical two-wheeler company, primarily based out of his town Dharmavaram, far-famed for its silk sarees, in Andhra Pradesh' Satya Sai District.

It's oversubscribed around 1145 vehicles with revenue of Rs vi large integer is not up to a year. The mill produces concerning 160-200 vehicles per month, with monthly sales of around Rs sixty-six lakh. “Most of the elements are sourced from many Indian cities and cities and conjointly from China,” says Venugopal.

Venugopal shares his life journey for the primary time with the media and remembers his struggles as a toddler once he had to figure in a very loom to support his family once his father left his mother to marry another woman. Venugopal was born into a family of hand-loom owners, {and the|and therefore the|and conjointly the} family crystal rectifier an easy and peaceful life.

Initially, his mother worked in his father's loom, however, she wasn't in a position to manage it alone and therefore the business eventually disintegrated. Because of monetary constraints, he quit school once category six and started to work within the loom alongside his mother. He then went to Guntakal, located one hundred twenty kilometers from his town to set} employment at Spandana Sphoorty Finance Ltd as a set govt for a payment of Rs 5500 in 2011.

Two years later, he came back to Dharmavaram, wherever he joined Indusind Bank as a collection officer for a salary of Rs 7500. Once about two years, he joined a two-wheeler finance company. So, in 2014, with a dream to possess a two-wheeler showroom, he approached a Bajaj dealer to hunt a sub-dealership.

His life took a stimulating flip in 2016 once his wedding to N Padmavati, a clerical employee at Indian Overseas Bank, Anantpur. “I came in-tuned together with her once I was operating in Anantpur and used to visit the bank regularly,” says Venugopal. Her bank job not solely gave the family a better gross income, however, conjointly provided the supply of funds for him to start out a business.

Mistreatment of the quantity and an additional Rs three lakh he borrowed from friends and relatives, Venugopal opened a genus Vespa scooter sub-dealership in Dharmavaram under the name of 'Venu Motors' in 2016. In 2019, Venugopal determined to start an electrical two-wheeler company and visited some corporations in Haryana to grasp the industry.

Venugopal got a license from the Government of the Republic of India to manufacture electric two-wheelers on June twenty21 and started production in August 2021. “The Indian Overseas Bank had exaggerated my OD limit to Rs thirty lakh. I raised Rs 20 lakh by mercantilism a property,” says Venugopal, who quickly appointed dealers in several cities and towns.

The dealers pay around Rs 6-8 large integer to urge the primary ton of around ten vehicles for his or her showrooms. We tend to charge a minimum pairing fee of Rs one hundred fifty to keep up a scooter' essential systems," says Venugopal, who has gotten to the present purpose in his life while not the help and encouragement of anyone although his wife.

Venugopal has plans to provide a high-speed model, with the goal of getting a hundred dealers in the South Republic of India by March 2023. They currently suppose my wife is ‘lucky’ to have me in her life,” says Venugopal, however, his success has modified his life.

written by: