Zobox Success story: This reused Smartphone business earns 50 crores more than any million-dollar company

Zobox Success story

Zobox Success Story: Today in our country there are over 100 billion dollar companies means 100 unicorn companies. Our country is so big and populated that in every next house, there is one Entrepreneur. Nowadays, everyone wants to become an entrepreneur. Everyone wants to start a business, Everyone wants to get a job instead of being employed by other companies.

Today in this news article of Bhartiye Times, we will share a Zobox Success Story. This company found a demand in the market and worked to fulfill the demands of people and now generates more than 50 crores of turnover every year.

We have published many success stories on our blog so people who want to start their business can get some hints by reading those Success stories. If you want to be a successful entrepreneur or thinking of starting a startup then should read some failure and success stories of startups. Today we will share Zobox Success story.

Zobox is a multi-million dollar company. It was founded by Neeraj Chopra seeing the demand in the market he started Zobox and now he makes in crores.

How did Zobox company Start?

Let’s delve into deep, Neeraj was born in Delhi. His father used to live in Hong Kong where he had an import and export business. If we talk about Neeraj Chopra’s grandfather he used to live in Pakistan, during the time of partition his grandfather came to India from Pakistan leaving behind everything in Pakistan. And started his new business in India (business not disclosed).

Later Neeraj Chopra’s father shifted to Hong Kong where he used to trade pesticides and insecticides. Later, his father changed his business and moved into an electronic business. Where his son Neeraj Chopra learned about Electronic items. At the age of 18 Neeraj Chopra moved to Hong Kong after completing his schooling at Naval Public School. Neeraj Chopra went to Hong Kong to learn about his family business. There he ran his father’s business for 12 years under his uncle’s guidance.

Unfortunately in 2012, he had to come to India because his uncle died. After coming back to India he saw a huge demand for power banks. There was a huge demand for power banks but the supply was much less there he saw an opportunity and started selling power banks making an average amount of profit and he continued his father’s business. After continuing his father’s business for a long time he thought of doing something new and unique and started Zobox.

Zobox Success Story:

Zobox Success Story: After continuing his family business for many years he had a startup idea to sell refurbished mobile phones at 50% less price of their original price, for example: If a new phone came at rupees 50000, he would sell the phone for just 25000.

Zobox’s business model was to sell a refurbished certified pre-owned mobile at a lower price. He got Zobox’s business idea from “Cars24” He thought if a second-hand car could be re-sale then he could also sell mobile phones after refurbishing at a lower cost.

Zobox Revenue model

Zobox Revenue model

In 2020 he started Zobox investing his own money. He invested 5 million rupees to open his company Zobox. Neeraj Chopra opened his first Zobox store in December 2020 in Delhi, Baroda. Zobox’s service was loved by the customers since customers could buy expensive phones at a 50% discounted price. Soon the company became popular and opened more franchises in Gujarat, Rajasthan, Mumbai, Delhi, and many other cities.

Neeraj Chopra’s company Zobox was doing well but there was not much profit in that business model. For example, If any phone had an issue then the phone used to be sent back to the head office for the repair process, this process was time-consuming and expensive.

So, later they changed their business model and 80% became B2B and 20% B2C. They directly used to purchase refurbished phones in bulk because of the bulk purchase Neeraj used to get a huge discount on bulk purchases and used to sell after repairing them at huge discounts. Later, they started their own Zobox app called “Zobiz”. From the app they directly sell their products to customers and businesses. They also started a buyback model, if anyone wants to sell their phones they can sell them at the Zobox store.

Zobox Revenue

Zobox Success story: In 2022 with more than 50 employees Zobox generated a revenue of over 50 crores in just one year. In 2020 Zobox revenue was 20 crore. Neeraj Chopra predicted that in 5 years the company’s revenue will be more than 1000 crores.

Also read

Similar Posts