AMIT SHANBAUG

I
t was his love for dogs that made the
then 27-year-old Rana Atheya start a
Web portal dedicated to dogs in 2007.
There are many animal lovers
among us, but you dont have a single
platform where they can actually get details
on animal care, says Atheya.
Atheya, an electronics engineer from MJP
Rohilkhand university and an MBA from
Coventry University, UK, used a major
chunk of his savings of close to `3 lakh in de-
signing dogspot.com. When we started, the
idea was not to generate money. I was more
interested in creating a community platform
for animal lovers where people could share
information about pet care, he says. Soon
hundreds of dog lovers began to visit the site
everyday for information on animal food
and accessories.
We were generating revenues from ad
clicks. They were just enough to keep the
portal running, says Atheya. I wanted dog-
spot to be a one-stop shop for everything re-
lated to dogs and dog care, he adds. In No-
vember 2009, he left his day job at Aircel to
focus on the e-commerce part of his busi-
ness. Meanwhile, his wife Vizal managed
household expenditures.
we got into other pet segments such as birds
and cats, he says. The turnover in the first
year (2009-10) of his e-commerce operations
was around `10 lakh. The staff was limited to
five people including Atheya and Vizal. By
2012, the portal started dealing in items for
small pets such as squirrels, rabbits and
hamsters. The company tied up with several
logistics and transportation firms for ship-
ping products across India.
In 2013, the company received funding
of close to `1 crore from an angel investor.
Atheya says that Dogspot has a catalogue of
around 4,000 products which includes all
brands of pet food and treats, accessories,
toys, grooming kits, bowls and feeders. Dog-
spot also provides information on animal
adoptions, animal shows and details of buy-
ers and sellers.
We have a team of 27 and have supplied
products to around 15,000 customers in 950
cities in the country. We have some 5,000
dedicated customers, says Atheya.
In 2013-14, our turnover was around `4
crore and we aim to double it to `8 crore by
March 2015, he adds. I brought in `1.5 lakh from two of my
friends and took a small space on lease in
Gurgaon, he says. Before, he had been op-
erating from his home. The response was
good as I already had a customer base. I also
started doing a lot of research and meeting a
lot of shop owners for tie-ups, he says.
Three months into the business, Dogspot
got around 400 dedicated clients. Atheyas
wife joined the business. Within six months,
From a pet project to a business
Please send your feedback to
etwealth@indiatimes.com
Rana Atheya started a Web portal to help dog lovers share insights. It is now a `4-crore company.
Winner
`3,000
This weeks situation
I am 51 years old and have have never invested in stocks or mutual
funds. My retirement savings of `55 lakh includes my PF, PPF, fixed de-
posits and insurance policies. Now that I am nine years away from re-
tirement is it too late to invest in stocks? I have no liabilities and my wife
and I can live comfortably with a monthly income of `50,000 a month.
What should I do to be able to retire in comfort?
Satya Pradhan, Pune
Last weeks question
My salary is `1.2 lakh. I want to buy a flat
for`60 lakh in 2015. I saved `40,000 a
month for nine months, but the EMI for
the house will be much higher. What should I
do? Please advise. Sridhar Reddy, Delhi
Selvarajs solution
Banks will give you a loan of only up to 75 % of the
cost of the house. Therefore, the EMI for a loan of
`45 lakh (`60 lakh `15 lakh) at 10.25% will be
`44,174. This is only marginaly higher than your
present monthly savings. You will get an annual
deduction of up to `1.5 lakh for interest paid to-
wards your home loan, i.e. it will reduce your tax
outgo by `30,000 or `2,500 per month. So, you
will have to arrange for just `1,674 per month to
pay the monthly instalments on your home loan.
If you move into your new house you will also be
saving on your rental amount.
Ashish Sharma, Bangalore
Solution: For a house worth `60
lakh, you can get a loan of up to `48
lakh at 10.25% pa for 24 years.
Your EMI will be `44,466 per
month. Since you save
`40,000 per month, you
can avail a flexi home loan
plan from a bank, where you
will start with a lower EMI ini-
tially. The amount will increase on a
yearly basis. A salary increment will
help you meet the expense.
Pramod Prabhu, email
Solution: For a flat worth `60 lakh
you have to make a downpayment
of `12 lakh. Given your current sav-
ings of `3.60 lakh, you will have
`7.20 lakh by March 2015 a
shortfall of `2.80 lakh. So, for
the time being, opt for a flat
worth `50 lakh and postpone your
buying decision by another six
months . In that case, you will be
able to fund your downpayment
and will also be able to pay the EMIs.
Financial wizards of the week
Bring out the planner in
you and suggest a
strategy for a financial
problem to one of our
readers.
The winners will
receive gift vouchers
worth
`5,000
and will be crowned the
ET Wealth Financial
Wizards of the week.
Send your solutions to etwealth@indiatimes.com
The decision of ET Wealth
regarding the winners of
Financial Wizard will be
final. The vouchers will be
e-mailed to the winners.
Allow at least 30 days for the
dispatch of the voucher.
Solutions from the following were also useful
Last weeks winner
V SELVARAJ, Chennai
Winners
`1,000
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RNI No.: KARENG/2014/55882. VOLUME 01 NO. 26
32
Last Word The Economic Times Wealth, July 7-13, 2014