Entrepreneurial people will find some or other opportunity somewhere, that's for sure. I saw truth in this when I went to apply for my passport at a local post office. Now let me explain what the opportunity is..
The otherday I pulled my bike in the parking area in front of a local post office and before I could get down from my bike a person approached me asking if I have come for passport application. I nodded to him and he told me that the PO only accept fee in DD and not in cash and he had the DD which he can sell me for an additional amount of 100.
The otherday I pulled my bike in the parking area in front of a local post office and before I could get down from my bike a person approached me asking if I have come for passport application. I nodded to him and he told me that the PO only accept fee in DD and not in cash and he had the DD which he can sell me for an additional amount of 100.
He had a bunch of readymade DDs with him. I did my mental calculation quickly, and I decided to buy one from him. Though I was a bit hesitant initially in buying as he may be a fake.
My calculation went something like this...if I do not buy from him, I have to find a bank nearby,
for which I have to spend time, petrol and mental and physical energy. After that I have to stand in a queue which would not be short for sure as banks are always crowded. Then I have to fill in application for getting DD, here I have to enquire or search as to to whom the DD should be paid to. And all those tensions. So I would have spent at least one hour in getting all this. So by buying I was saving myself precious time for standing in queue so I can get apply for passport earlier and faster.
So to avoid all this hassles, who would not pay just a little Rs. 100 extra?
That was the opportunity..
Coming to business model...
That person always keeps 5-6 DDs handy with him, it means his investment is 6000-7000 daily.
now if he can sell these all and depending on his average daily sale he can have that many no of DDs. So his daily investment would vary accordingly. That money will be blocked but can be encashed anytime so it's highly liquide investment.
Risks
This is purely a cash positive investment without any risk of loss so completely risk-free.
Potential
I assume at least 50-60 applicant must be coming to this post office for passport application daily. And I would guess at least half of them would be coming without DD, so that's opportunity. So it's a huge opportunity.
for which I have to spend time, petrol and mental and physical energy. After that I have to stand in a queue which would not be short for sure as banks are always crowded. Then I have to fill in application for getting DD, here I have to enquire or search as to to whom the DD should be paid to. And all those tensions. So I would have spent at least one hour in getting all this. So by buying I was saving myself precious time for standing in queue so I can get apply for passport earlier and faster.
So to avoid all this hassles, who would not pay just a little Rs. 100 extra?
That was the opportunity..
Coming to business model...
That person always keeps 5-6 DDs handy with him, it means his investment is 6000-7000 daily.
now if he can sell these all and depending on his average daily sale he can have that many no of DDs. So his daily investment would vary accordingly. That money will be blocked but can be encashed anytime so it's highly liquide investment.
Risks
This is purely a cash positive investment without any risk of loss so completely risk-free.
Potential
I assume at least 50-60 applicant must be coming to this post office for passport application daily. And I would guess at least half of them would be coming without DD, so that's opportunity. So it's a huge opportunity.
Additional Source of Income...
The person offers filling up the passport application forms, charging 50 each, also he sells form.. charging 30 bucks..etc..so such are additional source to earn hot money without much investment.
The biggest risk here is...
But the business is not scallable at all, it's not for educated guys and there are high chances that competion can come in or the govt policies can change and business may bomb.
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