Mr. Shashank Wagh – Keshwa Venture

Company overview

Keshwa Venture located at Fl No. 1002, City Crown, Karve Statue, Kothrud, Pune 411 038, was incorporated to carry on the business of owning, leasing, developing, operating, renting, preparing, constructing, organizing, maintaining, conducting, structuring, supplying, servicing, repairing, buying, selling, reselling, altering of Ice rink, Ice fields, Ice Sports stadiums, related infrastructure, Ice tracks, Ice sport events, tours, travel clubs other Ice sports related activities and to manufacture, lease, supply, stock, import, export and deal in ice venture related goods, sportswear, apparels, accessories, materials, entertainment equipments, machinery, first aid kits, sports goods kits, prizes, cups, shields, trophies, medallions and such award materials and other sports related Infrastructure items and accessories, etc.
Mr. Wagh has worked over the concept of Ice skating etc extensively for last 2 years, Mr. Wagh has visited headquarters of Ice world International Netherlands at Barn , Netherland and study the concept for one month. Then he secured exclusive dealership of Ice World International Netherlands, and installed and operated Ice skating etc. projects at Pune & Bangalore. Due to the installing and then dismantling of the ice rinks, he gained the insight & technical capability of the ice rinks. His experience of two years has Enabled Company to build capable team to take concept forward.

KESHWA VENTURE has been manufacturing and selling Ice skating, snow play and related products locally for the last 1 year. Ice skating, snow play and related products have been running successfully and have given good results.

Background
Family entertainment industry is globally booming. However, the key of success in it lies in innovation. This ‘Innovations’ is not permanent and requires continuous change/addition. Typically any innovation in this business has growth potential cycle of 10 to 15 years. In view of this, the promoters has done conscious study of all options available in the family entertainment industry and zeroed in on Ice skating, snow play and related products.

Industry Overview
Though the market is still not fully explored, the recreation and entertainment sector in India is in its growth phase. The Factors responsible for the growth are as given below:

  • GDP growth – The high growth trajectory witnessed by the Indian economy played a key role in rise of recreation and entertainment sector as a significant contributor to the services sector. High GDP growth which transpired into high per capita income led to increase in demand for the entertainment related services.
  • Demographics – India is a young country with 57 per cent of its population in the age group below 50 years. Keshwa Venture Mr. Shashank Wagh
  • Expanding middle class – The Indian middle class has the strength of 50 million, which is expected to grow to increase almost 12-fold, accounting for 41% of the population.
  • Shift in cultural attitude – The cultural attitude in India is undergoing a change with greater orientation towards modern source of entertainment sought.
  • The top line growth in the sector has taken place at a phenomenal growth rate of 39 per cent in the last five years. It has not only surpassed the average growth rate of services sector but has also appeared amongst the fastest growing sectors.
  • The profit before depreciation, interest and amortization (PBDITA) grew at the rate of 85 per cent in the last five years. However, the net profit growth was comparatively less at 34 per cent due to high interest paid which accounts for 4.2 per cent of the total expenses.
  • The entertainment sector has witnessed one of the fastest rises in the salaries amongst the service sectors. While for the overall industry the employee compensation rose by average 25 per cent during the last five years, the wages in entertainment industry have risen by as much as 40 per cent.
  • As the sector is set for an unprecedented growth, the entertainment companies have become the highest spenders on advertising in the last five years.
    The recreation sector is expected to remain a high growth sector for next five years to come, with its share in services set to rise further. Entertainment industry in India is projected to be one of the major economic driving forces of the country.

Business Drivers

Increasing Role of Entertainment in Malls:

  • Entertainment is an increasingly vital component in the development of new malls. One of the key developments that have happened over the past few years is the addition of entertainment element as part of the shopping center.
  • In a bid to offer a complete shopping and entertainment experience for the entire family, mall developers in India are also placing an enhanced emphasis on entertainment-oriented components such as Family Entertainment Centers, multiplexes, video-game arcades, playing area for children etc. It makes the entire mall environment much more vibrant as well as provides an element of differentiation.
  • This shopping and entertainment concept that includes interactive retailing, state-of-the-art movie theatre complexes, natural rock climbing walls, cycling, ice rinks, etc. has done very well globally and gained popularity as a mall format.
  • In the Indian context, multiplexes have already emerged as the most significant entertainment option in the malls. The need of the hour is to look at more innovative entertainment elements as a key to differentiate malls.

Opportunity at Tourist Destinations:

Tourist destinations attract high footfalls of people with budget and willingness to spend. Tourists are often open to new entertainment and recreation options and can be good potential targets for ice skating rinks.

B2B Opportunity:

Entities involved in travel and tourism can be targeted for setting up ice skating rinks. These entities include

  • Operators of local attractions at tourist destinations.
  • Resorts and 4-5 star hotels.

Tourism Ministry of India is developing and promoting new tourism products like Rural Tourism, Golf Tourism, Cruise Tourism, Adventure Tourism, Sports Tourism, Wellness & Medical Tourism, Eco Tourism, etc. Some of these new tourism themes can be targeted for ice skating rinks.

Value Drivers in the Business

  • Indian Festivals: Organizers conduct various events during these festivals to attract crowd. These event organizers can be targeted to conduct theme festivals like Ice Dandiya, Ice Holi, etc.
  • Theme Parties: Mobile ice rinks can be leased out to party organizers who are constantly on a look-out for innovative themes for their parties.
  • Malls
  • Brand development at the consumer end Focus
  • Building Ice Rinks and Sale
  • Building Ice Rinks and operate the same on Joint Venture basis
  • Building Ice Rinks and give them on lease
  • Develop Snow Play area

Technical Feasibility / Assessment

  • KESHWA VENTURE has in-house technical team to handle development and support this product.
  • KESHWA VENTURE has unique and innovative products designed to meet Indian market conditions.
  • Products of KESHWA VENTURE are based on components available indigenously.
  • KESHWA VENTURE is now going to market its products in Indian Market. As they have already made their presence felt, they can market their product with ease compared to new entrant.
  • As KESHWA VENTURE has no established competitors for such type of products in the area, and considering that the features offered are compatible for the Indian market, the company will establish itself in the market gracefully.
  • Technology used to manufacture these products is widely used. As such technical resources are available in the market for expansion.
  • KESHWA VENTURE may need additional infrastructure in future to handle proposed expansion.

In view of all above, the project is technically feasible.

Market Potential

  • KESHWA VENTURE had established the ice rink in Pune at Lonavala. The ice rink receives a good response from people.
  • Independent market research was conducted to see the acceptance and choice of potential customers.
  • Results show that, there is a very positive response for ice rink.
  • Considering the nature of the product and the fact that the promoters are connected to the various malls, KESHWA VENTURE has developed a marketing strategy to promote the products.
  • There are few other players with indigenous technology.

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