The entrance exam coaching industry is one of the rapidly growing areas in the service sector in India. The industry is estimated to hit $40 Billion by 2015 with a whopping 35% growth rate.
Finding a good quality and cost effective coaching center for CAT and CMAT exam preparations is hard, especially in the tier-2 Indian cities. Though there are many institutions available but the quality of teaching and teachers are not up to the mark in the small cities.
To overcome the hurdles and provide the aspirants a one stop solution for all their CAT entrance exam needs, Ravi Handa started one of the India’s biggest online coaching center Handa Ka Funda. Ravi, who holds an 8 year experience in education sector, is a Computer Science graduate from IIT-Kharagpur, one of the premier institutes in India.
Ravi started his career in 2006 at IMS, a CAT coaching institute and then joined a Pune based gamification startup named MindTickle in 2011. In his one year of working with the startup he discovered the self-potential power and motivation to start something of his own.
Back in 2008-09 Ravi put some videos on YouTube for free which got popular and got great feedbacks from the students. After this first success towards doing something new, he took some time off from MindTickle to do some experiments and from then the journey of ‘Handa Ka Funda’ started.
Ravi launched the startup on 1st Jan, 2013 with two other team members Rohit Iyer and Siddhant Kate but it remained a single founder startup. Rohit Iyer handles the technology part whereas Siddhant and Ravi concentrate on content and delivery.
The online coaching center provides preparation coaching for CAT, CMAT and SBI PO entrance exams. Every course offered by Handa Ka Funda includes explanatory videos, documented materials, live classes, mock tests and doubt clarification classes. The students can avail the course at any time 24×7 through their online portal. The cost for the courses are very low compared to the physical coaching centers. The fee ranges from Rs. 1,000 to Rs. 4,000 for taking a complete course at Handa Ka Funda whereas the students have to pay more than 20,000 at any other coaching institutes.
Online coaching is a new concept in India and yet to take pace. The difficulty while starting the online coaching portal was to convince the students to trust an online solution for one of the toughest exam in their lives and pay upfront fee to a physically non existing institute.
Handa Ka Funda mainly depends on social media and word of mouth for getting the students enrolled into the programs. Ravi is also a top contributor for many online educational forums where he gets students for the courses. Previous year more than 600 students enrolled for the CAT coaching and more than 500 students have enrolled for the CAT-2014 exam this year.
Apart from selling the courses only on their website, Handa Ka Funda also sells them at marketplaces like WizIQ and Snapdeal and uses Instamojo as the payment gateway on own website.
Handa Ka Funda has succeeded in getting many 100 percentile mark holders in CAT entrance exams to its account, which clearly indicates that it’s the time for online education revolution in India.