The startup ecosystem in India is booming at a fast pace. PM Narendra Modi’s new Startup India and Standup India program, will be an accelerating factor in encouraging people to turn their idea into a reality. And young entrepreneurs can now seek help from startup India consultants on anything from an idea to sales and marketing techniques to various finance options.
Concocting your own startup success story is not a small ordeal. it is important to have an inspiration which ignites your idea. For a budding entrepreneur to run and fund the business without any mentor is a little less possible. But then there are people who dare to dream and take risks to satisfy the ever challenging bug inside them. One of many successful entrepreneurs in India is Dheeraj Gupta who saw the dream of making an inconspicuous product famous worldwide.
In 1998, Dheeraj Gupta an MBA by profession surpassed his peers when instead of doing a job; he decided to brand Indian sweets across the globe. The idea failed miserably and by the end of two years, he was at a loss of rupees 50 lakhs. But two years did not go waste while bootstrapping during his days of struggle with sweets business, Dheeraj kept a close eye on giant food corporations like McDonalds and Dominos. Even in rough times, Dheeraj did not try to seek help from his parents and was brave enough to take another big risk of his life.
The staple food of Maharashtra, loved by every Mumbaikar, mouth-watering and cheap, Vada Pav had by now become a dream of someone. The competition was high in the market but was not high enough to slow down Dheeraj’s spirits.
With a corpus of only Rs 2 Lakhs, Dheeraj rented out a place outside Malad Railway Station and named his first outlet. Jumbo King was first such stall which would sell real Vada Pav 20% percent larger than the normal size. On the very first day of his business, he made an income of rupees 5000. At the end of the year, Dheeraj was at a profit of rupees 40 Lakhs. Gupta always outsourced the patty of Vada Pav and put his own concentration hygiene, the package of the food and pricing. Jumbo King is like any western fast food chain today. The Franchise model practiced by Dheeraj was a huge hit and he was even awarded Innovative Franchise Model Award. At present, there are 45 outlets of Jumbo King. Dheeraj aspires to open 1000 Jumbo King outlets by the end of the year 2020.