In Conversation with… Nakul Jain, Founder, Stowd.
What was the motivation behind your Startup and what is your startup all about?
In India, when an MSME tries to find a new warehouse, one of its biggest challenges is to find the right warehouse for its operations. Most MSMEs (who usually have smaller storage needs) land up with a large warehouse ending up with a lot of unutilized spaces or just hold back on their expansion due to the huge fixed costs involved.
Inefficiencies in the warehousing space are causing a huge demand-supply mismatch which prompted us to find a solution for this problem and start Stowd.
We, at Stowd, aim to optimize inefficiencies in the warehousing space in India. Our Co-Warehousing solutions enable businesses to scale up on-demand using our plug-and-play co-warehousing model.
Stowd also offers relocation services and temporary storage solutions to households for their furniture, electronic goods, etc. We offer end-to-end services from packaging, transportation, and storage at our warehouses.
What are the challenges that you have faced during the Covid-19 pandemic?
The COVID-19 pandemic has brought changes as companies and businesses have had to reorganize and create new strategies. We feel that the pandemic’s impact will continue to play a part in this new normal.
One of our biggest challenges was to manage the uncertainties in business. Clients are unable to commit which makes it challenging for us to move forward.
What were the financial challenges that you faced for the start-up at the outset?
Stowd is a start-up that sprang out during the pandemic.
The pandemic has caused a lot of uncertainty in business and many companies are now trying to minimize their fixed costs and move to a variable cost model. This is where we can add value by providing warehouses on-demand; just pay for what you use.
Taking a cue from this, we have tried to keep our costs variable. This has helped us remain profitable from our first month.
How do you see your digital presence growing, keeping in mind the current scenario?
The pandemic has sped up the online revolution in ways no one would have ever imagined.
Stowd wants to be a part of this digital shift and we continue to invest in our digital presence.
We aim to build our proprietary warehousing app where our clients can manage their inventory on the go. For household storage, we aim to bring in live video feeds where our clients can view their assets 24/7.
What is your advice for emerging young entrepreneurs?
Network – In my limited business experience, I have realized the more you network, the more opportunities open up. Keep networking and keep growing.
Manage your stress – Don’t get so stressed out that you get lost in the process and stop enjoying building out your own company.