Silicon wrist bands are one thing that never go out of fashion and have been owned by everyone at least once in their life but no one could have ever imagined that a silicon wrist band company could be worth million dollars. Wrist-Band.com, a technology based startup founded by an Indian American Azim Makanojiya has been successful in pulling in $6.9 million that too in just one year of business. The company has also recently emerged as the largest online seller of silicon wrist bands in the whole of United States.
Makanojiya founded the startup when he was just 19 and studying as a full time student at the University of Houston. Born in Mumbai, India and raised in Houston, wrist bands first caught Makanojiya’s interest at a trade show in China and from then, there was no looking back for him.
“I was amazed by how much one could customize the product,” said the Wrist-Band.com founder in a statement.
He further added, “There was not a single site in the United States where individuals could tailor bands online. So I created a site that gave the customer the freedom to decorate a band anyway they liked.”
Makanojiya also gives the example of the famous LIVESTRONG wristbands idea. “Take the popular LIVESTRONG wristbands idea, make them customizable and deliver them to the hands of the consumers,” said Makanojiya in the statement.
Though Makanojiya started the company while still in college, he did his full homework and researched in detail about every aspect of the business. He researched on everything from molding and tooling to identifying the demand of the product through AdWords before entering the market.
Makanojiya also had to face a lot of challenges and initial hiccups that a lot of young entrepreneurs face while starting a new venture. One of the main challenges was that of a limited budget.
At the time of starting Wrist-Band.com, Makanojiya also had a personal challenge of supporting his family as his family was not financially well and depended on his income. He was constantly in dilemma, whether he should focus on his startup or on what he was currently doing.
Before the platform was fully developed and established, Makanojiya and his two member team used to take orders over the phone, note them down on an order sheet created by them and then submit orders every night.
The startup always had a drive to make it big and it is primarily because of its drive that such a small idea evolved into one of the fastest growing promotional product manufactures in the industry.
The startup is one of Houston’s fastest growing technology startup. In the year 2011, the company was inducted into the prestigious elite inc 500 companies.