Tuesday, April 6, 2010
Some days back I was enlightened on the truly entrepreneurial nature of Indians.
A small business owner saw ample opportunity in the Mumbai Railway Ticketing industry.
The business provides insurance to ticketless travelers.
You just heard it !
Insurance to ticketless travelers.
From my knowledge, this firm operates in Bhandup and provides insurance at a premium of Rs. 300/-
Any unlucky traveler can go and encash the fine receipt.
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We surmised the business to have a very good rate of return.
How many people end up getting caught anyway ?
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The company has been around for many years. Obviously, it is discreet and generates revenues through word of mouth.
I also think it's a very scalable model. Have a set up outside every station in Mumbai. Once monopoly has been established, set sail for the rest of the country.
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I am sure the railway authorities, TCs and police must be hand in glove.
Else, how do you explain the miniscule percentage of ticketless travelers that ever get caught ?
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I do not know the name of this company. So don't even ask.
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7 comments:
Read about this....in "games indian plays" ..nice idea.
@allthecrap - thanks for mentioning the book! didn't know it covered this subject..
hey.. i didnt get the notification of the new post on my reader.. :-(
Its shocking to read.. thinking of such a thing is itself weird.. how did you come to know??
@ashkd - Ahem, Reader problem solved. My tech genius mind helped me ;)
About the incident, yes, very shocking and interesting ! If only we thought about legal ideas, we would be such an entrepreneurial nation. Also, maybe we should read the book suggested by Vivek (allthecrap) and see if there are more such businesses...
A few friends who travel by Central railways told me.
Tech Genius mind hee kya.. you are complete genius.. from head to toe.. :D
the book is not about business ideas...you can google it..
regards
allthecrap
@allthecrap - Yep, I know it's not about business ideas. I meant, maybe the book will cover other such things that we do...
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