A startup is not only about making money, it’s about following the passion and providing a proper facility and solution to a problem to the customers. In our Superhero with Startup Series today we have team Sloshout who aims to make the task of organising a party easy for the party freaks all around.
So let’s hear their story in their words.
Tell us something about you and your startup.
Sloshout is a web platform that helps the customers find the perfect venue for their event and book the best packages on group parties. We, at Sloshout, provide expert suggestions on selection of venues, based upon the customer’s requirements.
The user can either put filters on the website to get the desired result, or fill in the requirements form online or tell us over a call. You will receive an email within a couple of minutes with the best options available and our representative will always be there to help you choose the best venue.
What was your motivation behind venturing into this?
Being the event spocs in two of the best corporates, namely Aon and EY, we were expected to organize team outings, always. It is a very tedious process, involving online searches, calls, emails and countless negotiations. It took us 8 hours, each time, to find the perfect venue suiting our requirements, and this used to hamper our work badly, and at the end our yearly rating. So, instead of being the ones looking for a solution, we became the solution, and that’s how Sloshout was born
Give us a brief background about founders and its core team members?
Parth and Kunal, both are graduates in the business field.
They joined Aon together, worked there for close to 3 years. Left Aon together. Joined EY together. Worked there for around 1 year. Left EY together, and went ahead to start Sloshout together. Kunal handles all the venue relations and operations, and Parth takes care of all the marketing and customer relations for Sloshout.
Who do you see as competition and how is your startup different?
Some of our competitors are Venuelook, Partykaro and Venuemonk.
How are we better?
We respect the privacy of our customers. Unlike our competitors, we do not pass leads to the restaurant. We assist each customer throughout the process, which builds more trust and increases our rate of repeat customers.
Where most of our competitors do not provide the rates on their website, we communicate the most competitive rates of packages to the customers through our website. A user can filter the results as per his budget, preferred location and deals, and can see the package rates openly for the deal required.
Small groups catered
Along with catering bigger groups, we also provide the unlimited deal packages to smaller groups than the minimum number set by the restaurant, which is not possible if a customer asks the restaurant directly.
We provide some complimentary services to delight our customers, which includes:
Complimentary Photographer to exclusively cover their party
Surprise package upgradations
and Loyalty Programs through vouchers and cashbacks.
What are the revenues and margins like in your industry?
The nightlife industry in India is more than Rs.12,000 crore, growing at a CAGR of 20%, and we aim to seize the opportunity.
What are your future plans?
We are ready to launch in 5 new metro cities in the first half of next year, namely Mumbai, Pune, Bangaluru, Jaipur and Hyderabad, we plan to expand our services and multiply our revenue and profits significantly, and aiming to clock a GMV of 3 million dollars in the next financial year.
Any advice you want to give budding entrepreneurs.
Just make something up like it takes most of our time in the day. Startup is like a baby that you have to nurture and take care of it a lot.