Offline business owners are deprived of the user level intelligence and business analytics that online companies easily get due to technology. In order to empower offline stores with a tool that can help them gain more insights about their business, Realbox came into being.
Delhi-based data analytics startup, Realbox was founded in March 2015 by Saurabh Moody, Preksha Kaparwan and Arjun Sudhanshu. The startup helps offline businesses generate more revenue by marketing to their existing consumer base and sending them personalized marketing deals. With data analytics and business intelligence they can get into focused customer targeting and track conversion to increase sales.
Shown Above: Realbox’s team
Its product Pulse is like Google Analytics for offline businesses. It analyses and presents business summary right on user’s’ mobile phone. It can be used by multiple partners in real time, so user know exactly what’s going on in their store or restaurant. “If you have multiple stores, you can have the luxury of seeing your business overview and store by store performance measured against your chosen KPI’s (Key Performance Indicators),” the startup says.
Realbox with Pulse Dashboard brings offline business to mobile at zero cost of infrastructure and provides a complete business analysis. For instance, for a hospitality firm or even a restaurant, it helps the owners in running orders & tables for restaurants, real time sales, food cost analysis, inventory management, category drill down report and historical analysis. Pulse is a B2B pay per license service available for Android and iOS platforms.
Traction and Growth
Realbox is already providing its analytical solution to over a 100 stores of brands like PVR, Azure Hospitality, Zostel, Joost, and talks with few others is in process.
The company has been bootstrapped so far. However, it may soon be raising funds to grow its team and impact. Commenting on the how the company generates revenues, Preksha added, “We levy a basic setup fee and then on a recurring fee of Rs.2000 per month. Pulse can be used by multiple partner and for multiple stores, a small additional amount is charged for each license per store.”
The startup plans to tie up with players of movie theaters, hotel chains and retail brands.
Sharing the challenges faced by the startup, Preksha told iamwire, “We are getting good response from market, so we are concentrating on hiring quality team members and training them to be able to help us scale up. So far we we are working on word of mouth but at the same time we are preparing our sales team for the market as it gets difficult for them to get in touch with business owners directly.”
Market Opportunity and Competition
Fishbowl in US and Capillary in India are two of its competitors. A number of startups are existing in the market which are offering new age POS systems to replace the conventional POS machines. Realbox intends to be an add on to the legacy machines all over the country.