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From Rs 3 lakhs Investment To 5 Crore Turnover; Success Story Of Kerala's Iqbal Thanga
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Iqbal Thangal produced candles and perfumes in Class 12 and marketed them to store owners. The shopkeepers accepted his goods, but he never received the money from any one of them.
It was a major disappointment for the youngster, who spent all of his money in the small firm he had founded, but the bad experience did not put out the flames in him, and he proceeded to cultivate his ambition to become a businessman.
At the age of 27, Iqbal invested Rs 3 lakh in an unusual endeavour associated with the construction of living spaces, residences, offices, and even swimming pools out of repurposed freight containers, which has since developed into a Rs 5 crore revenue company, Techno Cap Equipment Private Limited.
It was a major disappointment for the youngster, who spent all of his money in the small firm he had founded, but the bad experience did not put out the flames in him, and he proceeded to cultivate his ambition to become a businessman.
At the age of 27, Iqbal invested Rs 3 lakh in an unusual endeavour associated with the construction of living spaces, residences, offices, and even swimming pools out of repurposed freight containers, which has since developed into a Rs 5 crore revenue company, Techno Cap Equipment Private Limited.
The main office is in Coimbatore, Tamil Nadu. His clients are from Kerala, Tamil Nadu, and Karnataka.
Since their inception in 2009, they have constructed over 300 offices, 100 farmhouses, 100 stores and restaurants, and approximately 20 swimming pools.
The temporary container homes have their very own benefits, the most important of which is that because it is a temporary structure, no permits are required. It is advantageous if your house or shop must be transportable and you will be changing your ground frequently.
Iqbal, a 40-year-old comes from Thrissur, Kerala, where he grew up in a middle-class home with three other siblings. His father was a respected Islamic scholar and counsellor, while his mother was a strict disciplinarian.
He was always an average child in school, and he just made it all through Class 10 with minimal pass marks. He graduated in computer science from Texcity Arts and Science College in Coimbatore after finishing Class 12 at SSMV Higher Secondary School in Edakkazhiyoor, Thrissur District.
Subsequently, he earned his MBA from ICFAI University's Thrissur campus.
He had a spark in him when he was in Class 12, and he wanted to achieve things on his own. In his leisure time, he began creating candles and perfumes with the assistance of his father's driver.
He sold the items to temples and stores. When he went to collect his cash, however, the shops came up with a slew of excuses not to pay.
He lost all the money that his father gave him after approximately six months, and it became the most important life lesson.
Iqbal couldn't pass up another chance at entrepreneurship while studying for his MBA. After his first year, he began a three-month internship at Ma Foi Management Consultants, a human resources firm in Cochin.
By the end of his internship, he was so pumped up that he decided to begin his consultancy with two other friends. He obtained authorization from the principal, who excused the three from regular attendance.
Iqbal, on the other hand, left the company in 2008. The company had gained clients, but it wasn't doing well financially. There were a lot of bank debts that needed to be returned. Soon, the company was closed down.
During his visit to the port city of Kochi, he noticed the movement of cargo containers. It sparked the idea of container dwellings.
He then moved to Coimbatore, a place he had visited before his graduation, and founded his company, Techno Cap Equipment, in October 2009.
However, the work was challenging, and he had to learn everything from the ground up. Things grew complicated because the position demanded technical abilities that he lacked.
He didn't have any engineering experience, so he had to learn everything on the job. It was a paradigm shift from a white-collar position at a consulting business to this firm, which required continual on-field focus.
His first significant order was from a postal service company in Coimbatore, which needed a vehicle modified with a cargo container. Iqbal struggled to execute the assignment following the client's specifications and ended up spending more money on the project than he had quoted.
Iqbal perfected his craft and began to take on increasingly demanding jobs as the days, months, and years passed. The container homes and workplaces are supplied with all of the modern amenities that people need to live in them.
In 2014, he introduced container swimming pools, a novelty that has piqued people's interest.
Despite the staggering periods of the Covid shutdown, Iqbal had a successful fiscal year. They made Rs 5 crore in revenue this year, up from Rs 3 crore the prior year.
People with farmland wanted to build a temporary house to remain in during the lockdown, thus the business was significantly better.
Iqbal purchases 'good condition' old containers from shipping companies at auction. He claims that prices have risen and that a 20-foot container now costs roughly Rs 2 lakh, and a 40-foot container costs Rs 4.5 lakh.
Iqbal has about 23 people working with him. Aside from that, he has eight people in his container office in Chettipalayam, Coimbatore.
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