Capture a Trip’s Unique Fund Raising Model – BYOB (Be Your Own Boss)
With the rise in the number of start-ups, there is a growing need of investors in the market. Sometimes after a point of time, all what stops a business become a multi million rupee business is getting the right investor, and getting the required numbers from them. This has created a scope for new entrepreneurs to put their creative minds on work and find new ways to grow your business idea. One such unique model that a young entrepreneur has come up with is Nitin Khanna, the founder and CEO of a travel company, Capture a Trip.
Mr. Nitin Khanna’s travel company Capture a Trip is already well established, known and successful in the northern India. Going with the mindset of conquering the travel industry, he has expanded in travel hostels with YOLO hostels. Currently operating in Jibhi, Mr. Khanna plans to expand the hostel line at offbeat places across India in the near future. To raise fundings from investors, YOLO has taken a road less known and less taken. With their BYOB (Be Your Own Boss) campaign, they are giving an opportunity to their travellers to fund in their business and become the owner of company in the percentage of share they invest in. This is a very creative way to engage their travellers and build a community of trust and partnership with them. As Mr Nitin Khanna says, “Everyone wants big investors to fund their businesses but this is an initiative that will give small investors a chance to grow big along with us. With us, anyone can invest in their business and become owners and partners. The benefit for us is that it’s a great opportunity to kickstart our business by raising investments from our 165k+ social media followers on Instagram. In any case, it is a win-win for us.”
Till now this new method of funding has been proven successful as Mr. Nitin Khanna has received many responses within just 2 months of this campaign. The model allows one to invest and be a full time operations and management head at the location, or simply invest and earn part of the profits. The returns are expected to be off the charts as the investors are estimated to receive double the amount of their investment within 5 years. About the future prospects of their travel hostels, Mr. Nitin Khanna says, “The position of a CEO is glamourised by the media but it is often a lonely one. All what I’m looking for is to build a team and be the different one in the industry in the most efficient and effective way.” With the same mindset, YOLO hostels are planning to expand across India in the upcoming times.