This Man Started A Million Dollar Company By Borrowing Money From His Wife
This story of an unemployed company setting up a multi-million dollar company is truly incredible. The man started his first business by borrowing Rs 50000 from his wife. He opened a garage in Andheri where he serviced motor vehicles and later established a business that is today one of India's leading brands.
Yes, we are talking about Neeraj Gupta, founder of Meru Cabs. Growing up in a business family, Neeraj did his graduation from Mithabai College in Mumbai. Due to not being very fast in studies, he passed his graduation with normal numbers and after that he could not even find a good job. Later his father found a job for him in his friend's textile manufacturing company. He quit his job after marriage and lived at home the whole time. His wife used to work in Jet Airways and for five years Neeraj worked only to leave and pick up his wife at the airport.
My wife got a job in Jet Airways soon after college and for five years I only had the job of taking my wife to the airport and leaving - Neeraj Gupta
After five years, Neeraj thought of doing his business, after that he never looked back. Borrowing Rs 50000 from his wife, he opened a garage in Andheri. In 1999 he, along with his friends, opened a company called Elite Class, in which he provided his customers with vehicle repairing and automobiles' annual maintenance service. And leaving the challenges behind, he amassed long-term contracts with corporates. And then within 8-9 months big companies like Blue Dart, Sony became their customers. In 2001, he decided that V-Link would start a bus service for corporate employees. He bought a bus with a loan of 1.4 million and contracted with the Tata group and started providing them shuttle service in his five offices. He finally started Meru Cabs after 6 years.
The biggest problem for India's first meter-run radio cabs service after Meru Cabs started was to raise money for it. In order to attract private equity investment, Neeraj decided to open two small companies. The first was the V-Link Fleet Solutions, which carried people to different BPOs, and the second V-Link Taxis, in which the air-conditioned vehicle would run on the streets of Mumbai.
The idea of Neeraj was so powerful that in 2006, a few months after the launch of the company, the first investment in his company was made by India Value Fund of 200 crores. Today about 9000 cars of Meru Cabs are doing 30,000 trips in 6 cities daily. And their annual turnover is Rs 800 crores. He also started a special cab service for women, which will have women drivers.
Neeraj proved that if there are different intentions, constant efforts, perseverance and hard work, then any impossible task becomes easy. His journey of this entrepreneur is very interesting and inspiring.