A group of Class 11 commerce students got into the entrepreneurial spirit and started their own company called Brownies Inc. Shreyashi DasGupta catches up with them to learn more.
Brownies Inc is only a few months old. The board of directors are in their late teens. The company comprises of 25 people with four directors, four departmental heads, a sales team and a production team. These are some of India's youngest entrepreneurs!
Arnav Singh Bisht, CEO (Chief Executive Officer) of the company says, "We came up with this idea as part of a project started by Junior Achievement (JA). The project taught us to create a business plan and analyse it. It was almost like living the textbook as we put into practise all that we learnt in our commerce books. The main idea in incepting this company was to start a business which will make profits and which will require manpower such that people can be easily employed."
The response? "It's really good. Our profits increase every month," says Arnav. "Though this business is restricted to schools as of now, we have started making profits. The money made is invested back into the business and some amounts are used to repay the loans that were taken from the school to start the business," he adds.
Talking of the pay structure Arnav says, "We offer a salary to each employee. The production team employee gets paid Rs 20 per session, the sales team Rs 10 per session and the finance team Rs 50 per month."
While making the brownies is not a hassle, the student employees do have to manage their time efficiently. According to Arnav, "Every member of this company comes to school an hour before the classes begin. The brownies are made in a spare room which has been taken on rent at Rs 200 a month. The sale team then goes out and sells the brownies for Rs 10 a piece during the lunch or snack break. The brownies taste quite delicious and sales are thus not a problem. Most recipes have been handed down by our teachers."
And how do they manage their business? Says Ankur Sharma, Head of Sales and Marketing, "Our business feasibility is reviewed and analysed by JA. They bring in people who are MBAs (Masters in Business Administration) to give us tips. This does help a lot."
The four young entrepreneurs have even decided to pass this business on to the next batch who will handle the business once they pass out from school. Says Ramesh Krishnamurthy, who heads JA's western region operations, "The company is doing really well but the most important part of this exercise is for students to develop interpersonal skills as well as to grasp issues related to scaling up a company and maintaining quality control."