17 Oct 2017, 10:01 — 7 min read
Robert Frost once promised that he could summarise life in three words. “Life!,” he exclaimed, “It goes on”. Taking inspiration from this quote, three partners Anish Nayar, Pradeep Kumar and Jayaraj K came together in 2013 in their bid to make life go on smoothly for people in Kochi and Kerala in terms of health.
Seeing a gap in the market for vaccines, they started a company, Life On MedKochi that provides vaccines and other super-specialty medical equipment to customers along with all required services including education. They are the go-to company for medical literacy when it comes to vaccines and have established a niche in a pharmaceutical industry entrenched with seasoned players.
In conversation with GlobalLinker (GL), Anish Nayar (AN), Pradeep Kumar (PK) and Jayaraj K (JK) share the story of the company and their plans for its future. Watch this video to learn more about their journey:
GL: Tell us about your business
AN: Life On MedKochi is a vaccine dealership established in 2013. We are three partners and we are currently dealing with cold-chain products as a vaccine dealer. We also deal with super-specialty products as well such as neonatology products and vaccines. We also market these products.
In the year 2013, Jayaraj, started the company. We identified the need for vaccine management in Kochi. We started with one or two companies where we started with marketing and distribution of products. There was a huge gap in the cold-chain management sector and as we were working in the vaccine industry we knew the exact way in which to manage these products.
We started with a business of roughly 50-60 lakh per annum. Now we have a turnover of over 6 crore per annum. We’ve moved on to other speciality products like body warmers, neonatology products like surfactants and other products like infection-control products.
GL: What are the challenges you have faced in establishing your business?
AN: Initially, the challenge we faced was that we had limited manpower as well as a shortfall of funds and we had to get business loans to get our business going. We did not have a business background and we all had to figure out how to manage finances and money in general. Getting new companies on board and starting out with new products was something we had to learn as well.
JK: Initially the challenge was getting dealerships. It is very difficult to get business as a new player. Initially, we got a few companies and established ourselves with our customers. Our customers helped us set a good base. In the first year itself we touched our break-even point of INR 1 crore business. We are not only active in the sales part. We educate the customers, parents and children, by teaching the importance of vaccination and provide a holistic service.
GL: What is the USP of your business?
AN: Our USP is to supply quality vaccines with quality service. In terms of storage or supply, right from the manufacturer to the customer, we make sure the vaccines are stored at proper temperature and we are willing to share all knowledge that we have about our products. We have very good customer service and have a good rapport with our clients.
PK: The USP of the business is how we deliver the products and how we maintain the temperature. It is crucial for the efficacy of the product. This was lacking in the market and we helped bridge a gap between supply and demand.
GL: What are some of the milestones your business?
AN: In a very short span of time we have achieved what we set out to do. We wanted to fill a gap in the market for vaccines in Kochi where even though there were pharmaceutical dealerships, there was no one specifically dealing in vaccines. We have established a name for ourselves as the vaccine people. The milestone we have reached last year which was a turnover of INR 6 crore was very significant. Our customers are very satisfied with us and that is an achievement, as we value customer service.
PK: In one or two years we achieved sizeable market share in Kochi and other parts of Kerala, competing with giants. We are three partners and we have 7 people in the office and field. Month after month, for the last two years, our business has grown. We have been adding good companies in our kitty.
GL: What role do you feel GlobalLinker plays in connecting & assisting SMEs?
AN: With GlobalLinker we will get an opportunity on a platform where we can meet and interact with many entrepreneurs and professionals in the pharmaceuticals segment and we will obtain new opportunities for us in the healthcare sector.
PK: Main thing is we can connect with cold-chain product producers around the globe. If we connect with those people around the world, then we can bring those products here and ensure timely delivery of products to patients. Through GlobalLinker, we can connect with importers and distributors in different parts of the country and world and bring in products that patients need.
GL: What is your big business dream?
AN: In the next couple of years, we would like to establish ourselves as a giant in vaccine distribution. We want to bring innovative products to our customers and thereby differentiate ourselves from the other companies in the industry.
JK: We are a niche company. We want to establish ourselves in such a way that we provide the complete basket of healthcare products in a way that protects our youth.
There is a quote from Robert Frost. I can sum up life in 3 words – ‘Life, it goes on’. That’s how we came up with the name Life On MedKochi.
GL: What is your message to aspiring entrepreneurs?
AN: Every entrepreneur should have a dream or a vision where s/he can start from the base level and plan meticulously to achieve his goal. When it comes to execution, do it, and if you do it well, all your dreams can come true. Believe in yourself and your dreams do come true.
PK: If you think differently, with committed people even with minimum investment, you can take the business to a very high level.
Network with SMEs mentioned in this article by clicking on the 'Invite' button on their profile. Anish Nayar, Pradeep Kumar and Jayaraj K
Disclaimer: This article is based solely on the inputs shared by the featured members. GlobalLinker does not necessarily endorse the views, opinions & facts stated by the members.
Posted byGlobalLinker Staff
We are a team of experienced industry professionals committed to sharing our knowledge and skills with small & medium enterprises.
Most read this week
Please login or register to join the discussion