Hotline: 1800 102 2007
X
Search Business Opportunities
Jul, 11 2018

My Property Boutique plans expansion with $4 mn raise

My Property Boutique provides homebuyers with end-to-end support, including the loan process and property documentation.

Real estate startup My Property Boutique is in talks with a few investors to raise up to USD 4 million (about Rs 27.50 crore) in its first round of funding for expansion.

The company currently has three boutiques or retail showrooms in Chennai and Bengaluru where properties of various real estate developers are put on display for prospective buyers. The fourth one at Coimbatore would be opened in the next three months.

The Chennai-based firm, an online and offline real estate aggregator, was co-founded by Neelesh Bora and Karthikeyan Kumar. Before starting their new venture, both had worked for leading property consultant JLL India.

"In last 18 months of our operations, we have received a good response from developers as well as customers. Now we want to open 100 such boutiques or expo centres across the country in the next three years," Bora told PTI.

"We are in discussions with few investors to raise our first round of funding. We are looking to raise up to USD 4 million for our expansion plan," Bora said.

The company started this venture based on the retail structure.

"The reason why people visit major retail outlets is because they can find all major brands under one roof and then pick and choose what they want to buy. This is the basic idea that facilitates the working of My Property Boutique. The company offers all builders under one roof, and is open 365 days," said Karthikeyan.

My Property Boutique provides homebuyers with end-to-end support, including the loan process and property documentation.

Asked about the revenue model, Bora said: "It's like any classifieds business. We earn revenues through listing of properties in our showrooms and portal. We do not charge any money from customers."

He said the company posted a revenue of Rs 3 crore during last fiscal and is targeting to more than double it to Rs 6.5 crore in 2018-19.

My Property Boutique has taken on lease about 8,400 sq ft of area for its three existing showrooms. The biggest one is at a mall in Chennai where about 100 properties are on display of nearly 50 builders.

"We open our retail expo centres either in an IT park or shopping mall," Bora said. The company currently employs about 30 people, including real estate experts, who are available at all the stores to help buyers.

Comment
Related opportunities
  • Imitation/Art/Junk Jewellery
    About Us: Since1998, Mukesh Lakhara has had one aim – to..
    Locations looking for expansion Maharashtra
    Establishment year 2000
    Franchising Launch Date 2018
    Investment size Rs. 10lac - 20lac
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai Maharashtra
  • Vymigrate is one of Australias' Leading Immigration firms providing a..
    Locations looking for expansion Karnataka
    Establishment year 2002
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 500
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • Fine Dine Restaurants
    Having the spirit of an entrepreneur for building a successful..
    Locations looking for expansion Gujarat
    Establishment year 1980
    Franchising Launch Date 2000
    Investment size Rs. 50lac - 1 Cr.
    Space required 1500
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • About Us:  TBSE" aspires to expand its presence in the PBCL..
    Locations looking for expansion Maharashtra
    Establishment year 2014
    Franchising Launch Date 2015
    Investment size Rs. 2 Cr. - 5 Cr
    Space required 4000
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Mumbai Maharashtra
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities