Mattress startup Shinysleep is making it easy for people to get a good sleep
15th, February 2020 - Startup Event
Shinysleep is a growing startup in Mattress business. They develop mattress using NASA’s technology and make every person to have a good sleep. Our team connected with the Founders of Shinysleep for an interview to know their journey so far.
S J: Please introduce Shinysleep’s founding team.
S S: As we all know, in a start-up, everyone has to perform in multiple tasks initially.
Core team members designated roles:
Tarun Chugh: Founder, Primarily Takes care of Research and Development. While working in various organizations, Tarun always differentiates them in two categories: MNC’s always helping you to learn process-oriented approach and start-up-like Paytm helps you to get work done, speedy approach, Implement, Make little mistakes, Fix it and move on!
Neha Chugh: Co-Founder, Sales, and Marketing Head. As a freelancer and worked as a professor that helped Neha to get a lot of skills. She manages various activities related to sales and marketing. In total, we have a team of 30 people
S J: What made you venture into Mattress's business?
S S: As in the Corporate Sector, there is a lot of sitting work, and it leads to back pain because of poor posture and sitting position. This was something; I faced too. I realized the problem of back pain is very common as my colleagues were also suffering from that. I bought a Mattress from a perfect brand, but that was not given me comfort and led to more back pain. During that time, I started my initial research, and I found out that most shopkeepers and mattress dealers would ask their customers one very common question – what is your budget? But this was a wrong approach, and the ideal way was first to understand the customer’s need, not the budget! Every customer is an ideal customer, and every person has its requirements based on various parameters such as their lifestyle, body weight, sleep position, age, etc. and based out of that I found Shinysleep, which NASA developed technology to help one’s ideal mattress according to their requirements.
Our top-selling models made up of Memory Foam. Orthopedic and Ortho Plus model. It takes the body to share and help in releasing pressure from body pressure points.
Memory foam, also known as temper foam, was developed under a NASA contract in the 1970s that set out to improve seat cushioning and crash protection for airline pilots and passengers. Memory foam has widespread commercial applications, in addition to the popular mattresses and pillows.
S J: Shinysleep – What is the brand proposition for Shinysleep
S S: Shinysleep is one of the start-up mattress brands in India, providing mattresses for everyone with hassle-free delivery at your doorstep. Founded in 2017 with an intense passion for creating the perfect mattress for people of every age group. With analyzing the need for today’s stressful life with basic requirements, Shinysleep came out with four different models that would cater to varying needs of the consumers and simplifying the process of decision-making for end consumers such as dual comfort, pocket spring mattress, orthopedic Memory foam, and ortho plus memory foam mattress. We use NASA developed technology in our products.
S J: What is the value you offer to the customer and how do you deliver the value
S S: We are currently following the Premium model. In the majority of businesses, the selling process is the first manufacturer to create the product, and then it goes to the Distributor, and then it moves to the Dealer and, in the last Dealer, sells it to the Customer. But in our model, there is no middle man, and we manufacture the product and sell it straight to Customer in our online business, which makes our product cheaper because there is no extra cost added to the product as it has been going straight from manufacturer to customer.
We have a direct to consumer model. There is no middle man in the online model. It goes directly from Manufacturer to Customer. There is no Dealer and Distributor. This makes our product cheaper because there is no extra cost added to the product as it has been going straight from manufacturer to customer.
USP of Shinysleep:
1. No roll pack of mattresses and delivered in actual shape - No other online Mattress Company is doing that.
2. Cool Foam Quilting on Mattress - This makes Mattress cool and makes our Mattress different from others
3. 0% EMI
4. Free Doorstep Delivery
5. 111-night hassle-free trial
S J: Mattress domain is dominated by organized businesses, which are big names in the market. What are the difficulties you have faced, and how did you overcome it?
S S: We work on “direct to consumer” models, so there is no middle man; hence it reduces the cost. Also, we have a very different approach than traditional players; most of the products sold by rivals are available offline. The shopkeeper's end goal is to sell the product based on the customer budget, but this is something we don’t believe!
We have seen a lot of online players are just focused on price, not the actual need of the customer! We have been in the market for around two years and have launched four different types of mattresses based on individual needs. We have not faced serious difficulties as of now. We face little problems every day as an entrepreneur, and we constantly learn and improve ourselves and move-on.
S J: You started your venture in 2017; please share your journey to date.
S S: Shinysleep generated revenue of Rs.1.5 million in the first month when we started. We launched our first mattress in 2017 by the name of orthopedic memory foam mattress, which is a combination of HR (High Resilience) Foam and Memory foam, and we sold around 65-70 mattresses in the first quarter of 2017. Now Shinysleep is annually turning approx. 50 million to 70 million, including both Online and offline. We are selling around thousands of products per month. The average production cost of a mattress is approx. Rs 15,000 and Shinysleep mattress product range varies from Rs 8,000 to Rs 50,000. Our Key tactics are that we sell Mattress based on customer needs. We first understand each customer's requirements before offering any product.
S J: What is the marketing strategy you have adopted? How did you get your first client?
S S: Firstly, we started online and offline research and gathered a lot of knowledge regarding mattresses. In phase one, we launched mattresses in the offline market, and after capturing enough data points, we started selling online on our website shinysleep.com as well as on the e-commerce portal: Amazon, Paytm, Flipkart, etc. we launched our first mattress in 2017 by the name of orthopedic memory foam mattress which is a combination of HR (High Resilience) Foam and Memory foam. We started with friends and family and made them their first customers and got an initial boost, and that gave us the courage to move forward.
S J: Is your venture is bootstrapped or did you raise any external funding? What is your first source of funding to start the business?
S S: Shinysleep bootstrapped by Tarun Chugh and Neha Chugh and the team. We are currently looking for funding to expand our reach. We have been talking to many VC’s, and we are on the initial stage of our discussion for the funding. We Can’t disclose the name as of now.
S J: Is the Indian market is having good demand for your product? Where do you see the market in 2025?
S S: India’s mattress market is estimated to be worth around Rs 10,000 crore. We see a significant change in the mattress industry, and people are more aware now about Mattresses. We see the minimum 10-15% shift of mattress selling business from offline to online!
S J: Your favorite entrepreneurship quote.
S S: Never go for short term success; always go for long term success.
If you want to share your story please write to us – firstname.lastname@example.org
If you want to advertise with us please write to us – email@example.com
Categories: Startup , Startup community , News , Food tech , Legal tech startup , HR Tech , Tech Startup , Guest blog , Featured entrepreneur , Startup funding , FinTech , International news , International Startup , Analytics , Product review , Social enterprise , Health care , My journey , Co working space , Fashion , Sponsored , F&B