Pradeep Kumar, 41, quit his job with Maruti to pursue vedic maths. His efforts have added up to the 80-centre behemoth, Magical Methods.
How did the idea of Magical Methods originate?
Vedic mathematics has always fascinated me. So, when I quit my job at Maruti Udyog in 1998 as manager, vendor development, I decided to conduct research in this field. After two years, I wrote a book and set up a Website, http://www.magicalmethods.com/. The positive response I received convinced me to start an institute to teach vedic maths.
When did you set it up?
I put in Rs 50,000 to set up the first centre in Delhi in 2001.
Did you face any problems?
To decipher the sacred Hindu texts such as the Atharva Veda, I had to re-learn Sanskrit, which I had studied almost 15 years ago. Besides, when I wrote the manuscript, no publisher was interested in it. So I had to get 10,000 copies published on my own. The next problem was selling them. I decided to hold free workshops in schools and offered the books at a 20% discount. Within six months, I succeeded in selling the entire lot.
How many students have signed up for the course?
In the beginning, there were very few. Parents were reluctant to enrol their children as they didn’t believe it would be useful for them. So I promised them that I would refund the money if the children’s mathematical ability didn’t improve after the course. Now, there are 12,000 students across all centres.
What is the biggest challenge you have faced so far?
I faced financial difficulties in 2005 as the overhead costs were increasing and I couldn’t expand the business. The only way out was to have franchisees, but it was tough to get people to invest money. It took persuasion, diligence and skill to set up the initial franchises. Now, I get 8-10 requests in a month from prospective clients.
What is your turnover?
Our current turnover from all the 80 centres is approximately Rs 25 crore. Four of these institutes are abroad—Dubai, Canada, Finland and Nepal. I plan to open another 300 centres in the next three years and increase the turnover to Rs 150 crore.
