- STARTUP NAME: Shinysleep
- FOUNDING TEAM: Tarun and Neha
- DOMAIN: Mattress
- INVESTMENT: Bootstrapped
- URL: https://shinysleep.com/
The founder being a corporate employee was facing the usual issue faced by most of corporate people – back pain. He spent close to Rs. 50,000 on mattress and cushions but in vain.
While researching on the same, the eureka moment happened when the team Shinysleep found a NASA product called memory foam which can be used in various ways to enhance a mattress’ comfort level. Soon after, they initiated the operational work, and the first trial was a great success. Without further ado, the journey of the consumer-oriented mattress brand Shinysleep began!
Being a working professional, the founder of this mattress brand was experiencing a hectic schedule and having a contented night’s rest was seemingly a hard task to accomplish. To overcome this, he decided to purchase a mattress that was addressed to be the finest amongst all by a reputed brand. A year later, all that Mattress managed to pull was some back muscles.
After a little research, he found out that the Mattress which he bought wasn’t the one he was looking for. That’s when he realized that there isn’t enough knowledge among the consumers as far as sleep products are concerned.
The consumers often had problems while making the apt decision. This called for the need of a consumer-centric based approach. This spurred the idea of a channel that provides the consumers with comprehensive knowledge before making any purchasing decision. Having an entrepreneurial mindset, the man took up the challenge and began the research to ease the perplexing decision-making process.
The Research work initiated in the mid of 2017 whereas the complete set of operations began in 2018.
Tarun is the man behind the Shinysleep. He has over 31 years of experience on the planet, 10 out of which were dedicated to the IT industry. Before fully committing to Shinysleep, Tarun has been working with the likes of tech giants such as Cognizant, Wipro-tech and Paytm as a Transition Manager for US projects and Six sigma expert etc.
Neha is the co-founder of Shinysleep with over five years of experience in freelancing. She has done her post-graduation in MTech and has published many international research papers.
They both contribute to the venture as the left and the right sides of a brain. Tarun is the creative genius and Neha the analytical problem solver complementing each other towards the success of the venture.
The Cofounder and crew had a discussion with Tarun and here is the summary of the discussion.
What is the problem you are solving for your users?
Enough sleep is a must to achieve all your dreams.
In today’s busy schedule, the consumers often have problems while making the apt decision on buying a Mattress. The market is flooded with a lot of options, but the shop keeper doesn’t have enough knowledge to suggest what kind of Mattress is the right fit for the customer. They simply offer Mattress based on the pocket size of the buyer.
We wanted to create a brand where we first understand the actual need, and later we suggest the best Mattress.
What is the biggest challenge you faced as an entrepreneur while establishing your startup?
When we started, it took us almost 1 year to research end-customers’ need. We were never in a hurry just to launch a product and start selling!
We reached out to most of the leading brands in India to understand, but it was not easy! Finally, we realized that the shopkeeper focus was always on selling not on end-user actual need! And later the buyer is getting the discomfort and losing all money.
How did you overcome it?
Nothing is easy, but it’s never impossible! We have been to all big and small unorganized Mattress makers for products and spent time at various shops in Pan India. We visited customer homes to know their experience, and collected data points based on age, gender, work-life, weight etc. to create something most desiring based on individual’s need. And to overcome this, we built Shinysleep.! We are working Offline and Online channels to generate customer’s satisfaction.
What is the biggest learning so far in your entrepreneurial journey?
Always work to achieving Customer satisfaction by customer-centric approach. I always believe in Continuous R&D to create something new, and we had quality Six Sigma team in place to get the desired output.
Who is your mentor/role model? What’s the best lesson you learnt from them?
Actually, I was working in MNC for most of my carrier journey, and the last company I worked in was Paytm. In MNC, I learned about creating processes, implementation/delivering on time and continuous watch. In Start-up, I learned speedy work and exploring new ways to find a solution.
What’s your revenue model?
In the first quarter, the revenue was 1.25 Million after that the traction rate sky-rocketed with the current numbers at 40 Million. We are expecting the quarterly growth in revenue of 20 per cent annually.
What are your future plans with your startup?
The future plan is to educate the customers and launching new product range in Mattresses, Pillows, Comforters etc. The end goal is to keep giving customer satisfaction and let them enjoy the privilege of quality sleep products in India and abroad.
We are also launching full natural mattress soon.
Have you raised any external investment?
Are you looking for raising more funds? If yes, how much?
Yes, we are looking to raise 50 million.
The raised funds will be utilized for Brand Building and Marketing.
Who are your competitors?
We have few competitors in the market like Wakefit, Flo Mattress, Sunday mattress, Sleepwell, Kurlon etc.
How are you planning to outpace your competitors?
Shinysleep is laser-focused on the optimizing the decision-making needs of our customers to provide them with great comfort and stress-free purchase. The major thing that sets us apart in the online arena is the unique quilting design mechanism on the majority of its best-selling sleep products.
As far as the key clients are concerned, the contemporary target area consists of the metro cities, which will soon be diluted to the middle class and upper-middle-class residing in tier-2 cities and small villages. This expansion will mark a milestone in the venture’s wish list as these areas lack any mechanism of having quality stuff reach out to them.
What’s your tip for newbie entrepreneur?
Keep working smart, and things will fall in place!
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