The hard earned money that I was making in the car accessory business was all wasted here and I came in a debt of more than Rs 1 cr,” Rahul recalls.
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I had no idea of how to run that and I started suffering losses. I was inspired to start another business and I opened up a food truck business in Gurugram. While Rahul was running Woodman on e-commerce platforms, he was making enough progress that made him think about starting another new business. So, what helped Rahul recover losses and restart the business that holds such a good position today that he is aiming for ambitious expansion in 2022? Rahul says, “focus”. Rahul bore a huge loss of Rs 1cr and was in heavy debt in just two years of starting Woodman. However, his venture saw several ups and downs. He was even awarded as the ‘Best Entrepreneur’ from his university in 2016. “Flipkart had newly launched the car accessory category then in 2015,” Rahul says adding that just after he listed his products, the demand poured in and within seven months he had done the business of around Rs 60 lakh.
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In 2015, he approached ecommerce platforms like Flipkart and Amazon to list his android car stereo system on the marketplace. My father was very supportive but he guided me towards starting up my one brand, a separate entity rather than scaling up the existing business,” Rahul tells SMBStory.Īs Rahul already had a knack for entrepreneurship, initiating a new business wasn’t hard for him. “Living in times when internet penetration has gone so deep, I asked my father if he wants to make use of the brand trademark and if we shall sell our products online. One day, while working at their office, he found that his father has a registered trademark for a brand ‘Woodman’ but never used it. The company was dealing in making car mats, speakers, and other accessories. Rahul Goel was still studying at Amity University, Noida when he was helping his father in his car accessories business located in Karol Bagh, New Delhi.
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