Q. Tell me how you started your journey?
Ritu Raj: It all started back in my college days when I moved to Patna for my higher studies. As an individual far from home I encountered a problem, I think everyone moving away from home feels, which was “where to live”. Somehow, I managed to find a hostel for myself but soon got annoyed by the poor facilities provided in the hostel. It was not only me who suffered from this problem after talking to all my
friends I got to know that they also had the same stories.
He said, “I was thinking of a side hustle for a long time, then I thought why not solve the problem for my friends first? I started visiting hostels in Patna and tried to understand this accommodation business from the ground level.
The idea of providing people with good hostels or PG came to me in the year 2018 when I planned to start my own start-up with the help of my friends under the company name “GO FOR ROOMS”. We used to tie up with the hostels for providing a good and comfortable space for students.
The catch – However, as I worked on “Go for Rooms,” I noticed that many young professionals also struggled to find suitable living spaces. While hostels are designed for students and flats are suitable for families, there are only a few options available for working bachelors.
Searched first Partner in Crime – When I moved to Ranchi for expansion, I met Sachin who had faced a similar problem during his job in Noida. We tweaked our idea a bit and pivoted to create homes for working bachelors.
Infused capital from Semester fees – For this, we needed some capital, so I put my semester fees into this idea without informing my family. The new name of our venture was “Oho Living”. Later I repaid my college fees with my earnings from oho living.
Pre-Covid situation and during Covid Impact on OHO LIVING business – We started to work at the end of the year 2019, we were in the first stage of our business when the COVID-19 pandemic hit. The whole world has gone into quarantine, and we were forced to vacate some properties due to low occupancy. But as the trend of working from home grew, we adapted our properties to be more conducive to remote work and saw a surge in occupancy, maintaining it through 2021. In that year, we also expanded to a second city.
Searched second partner in crime -“THE CMO” – Saurabh joined us in the year 2022, march as the CMO of the company. Saurabh has done a few start-ups in past and recently left his start-up due to some personal reasons.
Q. Oho Living Revenue to date?
Ritu: Till now we have served more than 500 customers with a combined revenue of 2 crs.
To date, we have 30+ properties with 180 beds totally bootstrapped, currently, we have an MRR of 10+ Lakhs.
Q. What’s your next goal.?
Ritu: Our goal is to have over 100,000 beds in the next five years.
Q. Tell me more About Oho Living and the USP?
Ritu: Oho Living is designed to provide an enhanced living experience for working professionals. We focus on creating a comfortable and secure living environment that is equipped with modern amenities, such as high-speed internet access, ample storage space, and a well-equipped kitchen.
We also provide additional services such as housekeeping, a dedicated property manager, and recreational activities to ensure that our tenants can make the most of their living experience. We strive to create a sense of community among our tenants by organizing regular events and activities, such as nature exploration rides, night shows, indoor games, and quizzes.
Our flats are located in prime locations with easy access to public transport, shopping malls, and other city attractions. This allows our tenants to enjoy the best of what their city has to offer. We understand that our tenants have different needs, and we strive to meet
those needs through our exceptional service. We want our tenants to feel safe, secure, and comfortable in our living spaces. We are dedicated to providing the highest quality living experience for our tenants.
Q. What’s OHO Living’s mission and vision?
Ritu: Mission is “To provide good quality living spaces to the young working population”.
Vision is “creating a network of vibrant, inclusive communities where people can live, work, and thrive together”.