GOSTOPS: CASE STUDY
The couple; Pallavi Agarwal and Pankaj Parwanda founded GoSTOPS in 2013, primarily seeking the establishing spot in the national capital ‘Delhi’. When it comes to Indian entrepreneurs, we all have lately witnessed through the eye-opening reality television show Shark Tank India the intensity with which every house today has an entrepreneur, the sharp mark of thoughts we have is what the industry needs, also despite the particular genres people are working, the accommodation and hostel facilities for either tourist or the students have been least touched- in.
Knowing the establishers of GoSTOPS:
The couple in their initial years had set their goal to start a business of theirs in the latter category, Pallavi Agarwal is the co-founder and Chief Executive Officer at GoSTOPS, who has even served as a consultant in ‘The Smart Cube’, learning and to start is the key to start as suggested by a philosopher, same did Pallavi applied in her professional life and acquired the knowledge and mastery in this working same, with the management of finances too from the same collaboration with the smart cube in the year 2004.
The founder of GoSTOPS, Pankaj Parwanda has also been a part of the corporate sector under some renowned brands like Nokia, Huawei, Ericsson, and ZTE. A startup has always a single mind flooded with ideas and queries; the emerging entrepreneurs try to be the backbone and to cast the conceptual upbringing at his level. Here, it was Pankaj all behind the skeptical mindset and the business.
What is GoSTOPS?
The chain of hostels and private rooms is what exactly GoSTOPS say, being more exclusive than the ‘hotels’ and the target population is what it screams for their customers to build and grow the brand eventually. More than the students being deprived of the accommodations, the business model today relies on the youth visitors, travelers who are keen to oversee new locations but don’t have much in their pocket. Today after the company has raised one angel investor and one Seed round, the funds are still covered, and also stops has asserted to sell on their franchises too because that is how the business will be in existence in the chain of hostels. Despite the hostels, private rooms are also a genre you could dive into deep when you search about GoSTOPS more, not a small number but 30% of the business contribution and assertion is reliable and sustainable through the private rooms.
The main concern of the family when a child of theirs is all set to leave the house and move- into a new place or new city for the higher education is a set living condition, which could give zero worries to their child. stops took the opportunity here to ease the lives of many by healing them with the hostel facilities. The locations that today have the GoSTOPS operational and available are Agra, Amritsar, Delhi, Jaipur, Dalhousie, Mumbai, Nagpur, Rishikesh, Udaipur, Varanasi, Bir, Jaisalmer and to date, the number of beds in these localities in a whole is 800 beds.
The period of stay may also matter from person to person according to their preference of timestamp for living in a particular decided place, this provision is something that contenders were lacking but GoSTOPS did not and added the prospecularity in their business model. The competitors in the market are yet to cross the scalable and reachable approach that GoSTOPS has half paved and is going to explode in for sure in the coming years. Having the ambitious extremities is central during the period you are focusing on your brand positioning; hence GoSTOPS also intensifies on reaching the goal of 1,600 beds in the coming year.
What was the thought process behind starting a brand like ‘GoSTOPS’:
The entrepreneurs tend to self-experience the issue they work on for their better development and success, same did with Pallavi and her husband who were certainly mesmerized and captivated by the custom of hostels people abroad are catching up lately. They both during their trip to the continent of Europe had portrayed the system and were curious to know about a parallel lifestyle in India. The urge to start from here after the recognition that the genre is still being visibly untouched in their country was the one that charged up Pankaj, also the spirit to enter entrepreneurship was inculcated in him from long ago. Thus, the model of providing tourists and students better accommodation lifestyle started up in Varanasi because they felt the place acted as one of the predominant visitor marks in India.
Marketing at GoSTOPS:
The marketing strategies and application of certain promotional tools such as advertising, and public relations activities are crucial phases when it comes to brand awareness and customer retention. Today more than the television or the print advertisements, Google ads are preferable. Not just only Google ads but social media marketing has become a trend nowadays, why? The reach is the objective market of your products or services where it is accessible to your target audience. stops needed précised recognition for the same, which they did and found the maximum range they could dig in the most on any social media platform is Mark Zuckerberg’s Facebook.
The brand today is using the three formats of advertising which are Images, Carousel, and Image on Facebook and their period respectively was 1 day, 15 days, and 193 days. The genre on the analytics remains ‘hostels’. Trying out through the exclusive forms, the brand is also shifting a little towards the videos presentation display advertisements. Some distinctive advertisement titles they came across were ‘Have a property?’, ‘Photos from GoSTOPS’s post’, and ‘stops’ with the respective word count of 62, 740, and 506.
The growth and upliftment of a brand with time is one of the notable attributes of a startup, GoSTOPS have evolved and tend to believe that it would forever be enhancing its number of beds within months and years something that surely marks its success a? according to this case study.
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