Arya Hives
Arya Hives is a business idea which is targeted towards providing accommodation to the student & youth community of India. The idea rose out of problems faced by ourselves and our batchmates while looking for accommodation during our internships.
Student housing as a concept is non-existent in India. While access to accommodation facilities within the campus is a preferred option for most students during their graduation period, the number of such hostels available often falls short of the total requirement.
This got us thinking :
Student Housing Market in India
Currently, India has approximately 34 million students in the higher education space, which is more than double the size of the advanced and large student housing markets in the West. Given the lack of enough supply, unmet demand for student housing is very high in India. For instance, the ten leading states in terms of the number of students in the higher education space experience an unmet demand to the tune of 30-60%, as per official statistics available.
Existing Players in the Market
In order to understand the competition out there and their relation with their audience, we identified the 4 main players
and did a SWOT analysis and functionality matrix for the same.
The companies we identified were:
1. Nestaway
2. NoBroker.in
3. Grabhouse
4. Simply Guest
Insights & Opportunity Areas
Based on the research we broadly categorised the problems into different areas:
1. Viewing Property
2. Booking and Moving In
3.Facilites & Services
4. Customer Service
5. Moving Out
6. Safety & Security
Following this we identified our opportunity areas :
1. Customised service 2. Customised plans 3. Rental products & services 4. Community living 5. Short term stays
Business Objectives
1. Transparent Systems - To provide a comprehensive and responsive customer service to tenants, sharing and factored owners which supports sustainable tenancies and delivers customer satisfaction.
2. Customised Services - To provide short and long terms stays with customised packages according to the user needs.
3. Partner with Local Businesses - Generate revenue through home rentals and tie ups with 3rd party agents commissions.
Business Model
We created a Canvas Model to understand the all dimension of our business.
To explain the different aspects of the Canvas model, we segregated them into different categories as
explained by Alexander Osterwalder.
