I am Iron Man

The business that I have chosen for my study is a Clothes Pressing kiosk in the apartment where I currently reside. At first I thought that this wouldn't be particularly profitable. I chose their kiosk because the couple, the Madhavans, spend their entire day in our apartment and don't get customers from outside. I was intrigued as to how they were making their money. Upon interaction with Mr. Madhavan and his wife, my doubts were cleared.




Who in the apartments are your primary customers?

Madhavan responded by saying that bachelors formed a majority of his customer base. He charges Rs.5 for both shirts and pants. His wife would deliver it at their doorstep in the afternoons or he would deliver it in the evening. He also takes down the mobile numbers of his customers and writes them down against their door number on a paper. He pins it up on a board facing him inside the kiosk. He follows a FIFO method and makes exceptions in the mornings when people have to leave for work. Women contribute largely to the business in terms of revenue with saris. Silk-cotton and silk saris which are typically worn to functions and public gatherings by South-Indian women are difficult to press using irons at homes. These generally find their way to Madhavan's shop. His wife has a good rapport with the home makers and old women in the apartment. So the women of the house willingly give them more business.




Is this your only source of income?

Madhavan responded with a smirk by saying that he is also a broker. Based on his good relationships with the flat residents, he fixes them up with plumbers, carpenters and other workers. He also helps them find domestic helps, car cleaners and the likes.



Conclusion

In conclusion, the Madhavans run a monopoly. Since they provide a service, it is important for them to maintain good relationships. Although the flat residents don’t have an alternative, Madhavan’s business as a broker requires him to keep the flat residents happy so that they will approach him if they need anything. This indirectly motivates timely delivery.

A noticeable disadvantage is the fact that they have to stay under the kiosk the whole day. The heat of the burning coal and the sun together raise the temperature inside the kiosk. They can’t use the flat’s electricity to run a fan and so they have to put up with the heat.