Thanks to a revolutionary idea by an entrepreneur duo, jewellery buying is going to be much easier and affordable for not so rich people. India News Business had an interesting chat with the founders of Dream Ticket – Vinay Saini and Rajiv Kumar – the people who are redefining jewellery shopping in many ways.
Q1. What’s the idea named Dream Ticket?
A1. Dream Ticket is an online, subscription-based group-buying business model designed to make the purchase of gold and diamond jewellery more accessible to low-income groups. The concept involves forming a group of 10 to 15 subscribers who subscribe for a fixed number of months by paying a fixed monthly subscription, through an Android App on their mobile phones (hence, no need to visit any store). Each month a new name of a customer is pulled out through their custom software and that person can buy gold/diamond jewellery of their choice of the total amount that he/she will pay till the end of their subscription tenure.
Q2. How did you come up with an idea to start Dream Ticket?
A2. As I come from a humble background, I had a desire to gift my wife a diamond ring on her first birthday after our wedding. However, with only Rs 10,000 in hand and a ring costing over Rs 55,000, I struggled to find a feasible option despite exploring various jewelry shops. Most of the stores had sales promotions and discounts, but they asked for full payment upfront. As my wife’s birthday was only five months away, taking a loan with high-interest rates or processing fees was my only option but not feasible. Unfortunately, I was unable to fulfill my wish and missed a precious moment in my & her life. This emotional conflict lasted for years.
This incident kept haunting me. And I thought that there must me many husbands/fathers like me, who want to give gifts to their wives/daughters. After surveying 1500 people from low-income groups, I discovered that 645 of them had also experienced similar unfulfilled wishes. With over 400 million people in India living in this social segment, I felt compelled to solve this unseen problem in society and hence, came up with Dream Ticket.
Q3. What sets you apart from your competitors?
A3. Dream Ticket is one-of-its kind business model, which enables customers to amplify their purchasing power by 10-15 times through a group subscription model. Unlike traditional approaches followed by other jewellers that emphasize 100% cash payment, Dream Ticket disrupts the market with a credible and transparent business model that prioritizes the ease of buying for low-income individuals. Jewellers may adhere to a cash-only approach, however, Dream Ticket’s innovative solution empowers people to make purchases according to their desires and preferences.
Q4. What’s the USP of Dream Ticket
A4. Dream Ticket significantly enhances the purchasing power of its subscribers, multiplying it by 10-15 times. With a BIS hallmark license in place, we ensure to exclusively deliver hallmark jewellery to our customers. By providing a seamless buying experience, we eliminate the need of subscribers to worry about promotional sales, discounts, or buy-back offers. Subscribers can confidently make their purchases with 10% cash in hand not 100% cash without any concerns, enjoying the convenience and peace of mind that Dream Ticket offers.
We offer 100% customized jewellery to our customers, which they choose within their budget. We have third party agreement with jewellery manufacturers to manufacture the design as per our customers’ preference. Our internal team care of logistic & delivery to customer.
Q5. What are your future Plans?
A5. We have three physical stores as of now in Delhi – in Bawana, Holambi & Shahabad Diary. We are now planning to raise funds for expansion across India, starting with 30 offices in Delhi.