Meet Rhea Nihal Singh, Gurgaon girl who constructed Rs 100 crore model in 2 years; residence gymnasium bid gave this concept

Just months after their marriage, the coronavirus pandemic locked Rhea Nihal Singh and her husband Raunaq Singh Anand inside their residence. The health fans needed to construct a house gymnasium however could not discover good health tools available on the market. They had been compelled to decide on between two choices — purchase dangerous high quality merchandise or import tools spending lakhs of rupees. They realised others could be going through the identical drawback. This concern resulted within the beginning of their direct-to-customer model, Flexnest. The firm sells good high quality health tools on the web.

They have constructed the model in slightly below three years.

Rhea Nihal Singh did her Bachelor’s diploma in economics and theatre from Emory University. She accomplished her education from Vasant Valley School.

At the time of the launch of their new enterprise, Raunaq was working in his father’s automotive part manufacturing firm. Rhea later joined the enterprise and began the corporate with a skeletal workers of 5 folks, in Gurgaon. In the very first 12 months of operations, the corporate made Rs 37.5 crore in income. 

The tools is designed in Germany and is manufactured in China and Taiwan. Most of their gross sales come from their web site and marketplaces. 

Like Raunaq, Rhea additionally comes from a outstanding enterprise household in Delhi. Her father is a material exporter.

They met within the United States once they had been learning in faculty. They bought married in January 2020. 

The firm was anticipating a income of Rs 100 crore in FY 2022-2023.

In January 2022 alone, their income was Rs 3.83 crore. 

Before turning into an entrepreneur, Rhea labored for NDTV after which public relations. Her husband studied mechanical engineering from  UC Berkeley and a grasp’s diploma in administration at Duke University.

They saved introducing their units phase-wise. They did not need to manufacture them themselves. Hence, outsourced the method. They did not have the time or the capital to arrange their manufacturing area.

They have been worthwhile, so that they did not go for exterior funding. They have generated capital via banking options. 

They additionally do not have a burn-through coverage. Nearly half of their merchandise are bought in Tier 1 cities.