M I Siddiqui, a multi-millionaire from Muzaffarnagar, Bihar, started Cosmus, a bag manufacturing company, with a loan of 5,000 rupees from friends. In four years, his business grew from Rs. 5 lakh to Rs. 25 lakh.
M I Siddiqui, from Muzaffarnagar, Bihar, went to Mumbai with his 19-year-old cousin to study computer hardware. He joined the course after becoming intrigued during the trip. Siddiqui eventually became a multi-millionaire bag manufacturer. Friends loaned him 5,000 rupees to start his company, called Cosmus. The business has grown Cosmus into a 35-crore-rupee company since then.
M I Siddiqui had trouble finding work in the business sector since employers required a specific dress code and presentation abilities. Siddiqui’s friend. Azad, who ran a printing company in Dharavi, volunteered to assist him n starting a business.
To establish the firm, Siddiqui called his father and asked for Rs 5 lakh, but his father declined. Siddiqui had no choice but to ask his buddy for a loan of the money. After spending Rs 30,000 on three sewing machines and raw materials, they were able to secure a contract for 300 bags.
When his debt balance reached Rs 28,000.00, Siddiqui made the decision to keep running his firm. He persuaded the landlord to prolong the rent of the manufacturing unit for an additional three months by making a promise to Azad that he would pay back the money in the future months. Then, using three machines, two craftsmen, and no prior manufacturing experience, he borrowed Rs 5,000 to launch Cosmus, a bag manufacturing company.
M I Siddiqui used Google to look for possible customers and then tracked them down to obtain orders. By providing Orange, a mobile phone carrier, with an estimate that was Rs 40 cheaper than the competition’s, he was able to secure the first contract. He clarified that he had a slim profit margin.
Siddiqui built a reputation in business and began exploring opportunities in retail. He requested Irfan, his younger brother, to work with him to open a shop business worth Rs. 4 lakh. Siddiqui narrowed his attention to the corporate market and simplified his firm when his investment became stalled.
Siddiqui’s buddy Riyaz resigned his job in 2008 and sought his assistance. Siddiqui handled corporate orders while Riyaz explored the retail sector. The product selection and the caliber of the bags also increased with time. In 2010, Siddiqui also began selling his goods online. The 41-year-old entrepreneur Siddiqui Siddiqui has been able to hire more than a dozen artisans and produce hundreds of bags each day.
He grew the workforce to over a dozen craftsmen and produced hundreds of bags every day to fulfill the needs of online purchases. Because he had no marketing funding, he set the price of the bags with no profit margins. In four years, his sales went from Rs. 5 lakh to Rs. 25 lakh. His earnings climbed as the corporate, retail, and internet portions of the firm expanded. Siddiqui was able to purchase an apartment in Bandra and recruit around 150 workers, and Cosmus currently operates a five-floor facility in Dharavi.
According to brand manager Vijish Kurup, all bags go through 40 inspections before they are sold. M I Siddiqui is of the opinion that anyone can succeed in any subject if they put their heart and soul into it. In India, there are many chances in every field, and if one works hard, they may always surpass their expectations.He has grown his business from Rs. 5 lakh to Rs. 25 lakh in four years, demonstrating that anyone can succeed if they work hard.
