venkatesh iyer goli vada pav net worth

”. Venky says that the dependence of other stores on human capital has limited their growth potential,With the product complete, Venky and Shivadas started looking for an alternative to the setup shop. Venkatesh Iyer and Shivadas Menon, founders of Goli Vada Pav, set up this firm in 2004 with an investment of Rs 1 crore and now seek funds to expand the chain into smaller towns and cities. So we went to the regions where Vada pava was only heard, but it was not available there. So much so, that the company soon started getting offers from Over-seas to collaborate and expand; but Venkatesh and Shivadas had a clear aim in mind- to take the mouth-watering taste of Vada pav to all corners of India and empower the Indian street food market. The chain started operations in early 2004 with a single ‘Quick service restaurant’. [4] “Some friends recommended that I should be an English name. The company raised ₹21 crores from venture fund VenturEast in 2011. (Economic Times) “It was a very difficult time, and people felt that the bullet had ended. “If Subway and McDonald’s can have 8,000–10,000 outlets, then we can have at least 5,000 outlets in India. Goli has followed the strategy of being located in high streets and main market places as such places are the most crowded. India is a vast land of opportunity, ”he emphasized. Making vadapav a brand, as Iyer puts it, was the intent behind Goli and has now grown to over 300 stores spanning 100 cities across 22 states since 2004. 1 / Goli Vada Pav was founded by Venkatesh Iyer in 2004 . Vadapav is a food in itself and can fit into your diet at any time of the day are Available whenever you want you get easy and easy to carry eat ”observes Iyer, who has introduced region-specific flavors to the menu. Venkatesh Iyer, Founder, Goli Vada Pav will be the key speaker at Lemon Ideas' - I-Summit - in association with VIA and Nation Next as the media partner. Read more about Goli Vada Pav to add more outlets in south on Business Standard. We can have followers and it would be great to have more. The initial investment of 40 lakh rupees was funded by Venkatesh Iyer, who had wound up his corporate advisory business. Venkatesh Iyer, a co-founder of Goli Vada Pav, says his company is planning a massive expansion, with 500 franchise outlets across India in the next five years. Mumbai-based Goli Vada Pav Pvt Ltd, a chain store offering Mumbai's local snack, Vada Pav, is planning to expand its presence in south India as part of its efforts to reach target of around 500 stores all over the country in the next five years. 5Y Return. If a food business is dependent on cooks, it is not viable. Vada Pao Presentation 1. “In line with customer given advises, we introduced new flavaor  like Corn and Palak Vada in Bangalore, Samosa Masala Vada in UP, Paneer in Punjab and Sabudana Vada in Maharashtra.”. Our expectations were kept aside and we were rather served a simple Vada Pav with usual chutneys and condiments. Iyer says that a good Indian street food behind the pill was to include edible fast food. The wada is made in a centralized factory in Mumbai, from where they are kept in trucks at various locations. Venkatesh Iyer and Shivadas Menon founded this company in the year 2004 in Mumbai, India. Today, in 2016, Goli Vada Pav has more than 350 stores in 90 cities and 21 states across India! The chain started operations in early 2004 with a single ‘Quick service restaurant’. – will increase, and a variety of problems may arise. 13. If I put it in highways or malls, where people go once in 3-4 months, then food habits will not be formed, ” the reason. It was founded in 2004 as a vada pav restaurant by Venkatesh Iyer. The investment had increased to 1 crore rupees by the time the business. NINJACART OF FOUNDERS-NETWORTH,TURNOVER AND CEO, FOUNDER OF CHUMBAK(SHUBHRA CHADDA)STORY,NETWORTH,WIKKI, OWNER OF RUBANS ACCESSORIES (Chinu Kala)TURNOVER,HUSBAND, FOUNDER OF BOAT(EARPHONES ITEMS)OWNER AMAN GUPTA, SUCHI MUKHERJEE FOUNDER OF LIMEROAD-WIKI,NETWORTH,BIO, 1) FOUNDER OF DREAM11(Harsh jain)OWNER.NETWORTH KNOW ABOUT MORE CLICK HERE, 2)VINEETA SINGH AND KAUSHIK MUKHERJEE FOUNDER OF (SUGAR COSMETICS)BIO,INCOME KNOW ABOUT MORE CLICK HERE, Swati Bhargava, Co-Founder of CashKaro.com, FOUNDER(OWNER)OF COOLBERG PUNKAJ ASWANI,TURNOVER,WIKI,INCOME,COOLBERGPRICE, CO-FOUNDER OF PAPER N PARCEL,TILAK MEHTA 13yrsOld(Wiki/BIO). Axis Long Term Equity Direct Plan-Growth. Our stores do not exceed 100 sq.feet joints as the concept is to provide fast service. Placeholder store name. Vadapav’s customers range from a college-goer to a laborer or wealthy who drives in luxury cars. Pav Bhaji aur Chai at Goli Vada Pav. From the first Goli store in early 2004 in the suburbs of Mumbai, to 275 stores across 51 cities and 14 states, Goli Vada Pav has carved a niche for itself. GrowthStory is the venture-builder platform that Ganesh and his wife, Meena, set up in 2011 which has helped some of India's most successful startups including Big Basket, Fresh Menu etc. Venkatesh Iyer explains, “The idea of bringing Vadapav back into a branded product struck me and I wanted it to stand tall between burgers, pizza and fries.” Clever business operations, supply chains, franchise and money were brought into Thela and India’s largest fast food chain was born. The road was uphill and steep, but the passion to follow through and the will to work incessantly turned the impossible into an absolute reality. , Vadapav is a specialty of Mumbai and through ‘Goli’ we have connected the soul and taste of the city to all. TNN; January 30, 2017, 12:27 IST But brand recognition is important. A large-scale expansion of the outlets had to be abandoned due to the limited popularity of the franchise in Mumbai. Your email address will not be published. Today Goli Vadapav has more than 300 stores in 100 cities and 20 states in India. In addition, we are a clean store, integrated backend and fully automated like Americans, ”he says. Hand-made patties varied in quality and had a short shelf life, and some were preserved. In 2011, for instance, Sagar Ratna received Rs 180 crore in private equity funding, ... Venkatesh Iyer and Shiv Menon, Goli Vada Pav - 200 outlets. The book tells the story of a daring and unusual entrepreneurial venture. Goli Vada Pav was founded by Venkatesh Iyer. 14.07 % The brand’s founders, Venkatesh Iyer and Shiv Menon, realised the huge scope of business in tapping the adult and lower income customers by selling widely popular local street food ‘Vada Pav’ to them, in an organised way. Goli Vada Pav was founded by Venkatesh Iyer and Shivadas Menon in year 2004 in Mumbai. Placeholder address. Behind the stall, there was a big hoarding of McDonalds. Cofounder and CEO Venkatesh S believes redesigning business in 2008-09 with an outsourced model, franchise outlets and strong back-end technology helped them crack the concept and move outside Maharashtra. The company opened its first outlet in Kalyan near Mumbai in 2004, but soon ran into problems. Goli was founded by Venkatesh Iyer and Shivadas Menon, serial entrepreneurs with prior experience in corporate consultancy, franchisee management and retail. At present, they are running over 50 outlets in India and produce more than 40,000 vada pavs on a regular basis. At this point, Venkatesh Iyer received an offer from an acquaintance to set up an outlet in the city of Nashik in Maharashtra. When Venkatesh Iyer co-founded Goli Vada Pav with Shiva Menon in 2004, he saw a huge opportunity to sell affordable, clean, ethnic fast food to low-income customers in India. “Our Wada is manufactured in hands-free high-technology by the same American companies that make McDonald’s patties. Nashik was in store and we grew all over India, ”shared Venky. On confirming his plans ahead, Venkatesh Iyer says, “We will be consolidating our position in the markets that we are currently present in. A generous mix of vadapavas (below Rs 50), vada rolls (below Rs 75) and curry pav (below Rs 100) are offered in Goli stores. The first outlet was set up in Kalyan, a suburban locality in Mumbai. Their technology enables vadas to be stored in frozen form and sent every 2 or 3 days to the actual stores, where they are again properly stored. It … Goli Vada Pav, a quick serve food concept with Indian touch, originated in Mumbai in 2004. Popular Brands: Goli Vada Pav; Revenue: Rs 10 Crore to Rs 15 Crore; Menu Items: Goli Vada Pav, Goli Schezwan Vada Pav, Goli Sabudana Vada; Employees: 400 to 500 Employees; Number of Retail Chains: 150 outlets in 40 cities and produces 100,000+ Vada Pav daily. As cities get bigger and life gets busier, people look for graves early and holidays are reserved for food opportunities. However, political trouble and disagreement between the booth owner and political parties dampened the dream, and all the Goli outlets had to shut down. When Venkatesh Iyer co-founded Goli Vada Pav with Shiva Menon in 2004, he saw a huge opportunity to sell affordable, clean, ethnic fast food to low-income customers in India. “Every city has got its own flash point – the center of that city. India’s food story has not started yet; We are the leaders in the story of food here. Goli Vada Pav is an Indian fast food restaurant chain originated from Mumbai, Maharashtra, India. In addition, margins are under pressure due to rising raw material costs. VADA PAV ADVENTURES 2. “Some people did eat  in Nagpur and started in Aurangabad; Somebody did eat it in Aurangabad and started in Dhulia etc. Anuj Chopra Jan 16, 2011 Get Directions Street View. The chain has changed the way the popular snack of Vada Pav is prepared and consumed. As a result they also lose the first round of money. Venkatesh Iyer’s Goli Vada Pav operates more than 300 stores in 18 states 1/3 Loving it locally: Goli has outsourced the manufacture of its vadas … Sharing with the audience as to why he chose vada pav as his business idea, Venky said, "I saw a Vada Pav stall on the roadside once. All our money ran out and then immediately Lehman became brother, so no investor was willing to put his money. Goli Vada Pav, a quick serve food concept with authentic Indian touch, originated in Mumbai in 2004. Website This has made it possible for pill promises to have a shelf life of nine months. It is an Indian fast food restaurant chain originated from Mumbai, Maharashtra, India. [3] It currently operates in over 100 cities with over 300 stores. Venkatesh Iyer, MD & CEO - Goli Vada Pav, shares his entrepreneurial journey, the challenges & obstacles, marketing strategies and success. GOLI V/S JUMBOKING-COMPARISONS Started in 2004 Started in 2001 224 Outle ts 53 Outlet s States Maharashtra, Karnataka, Tamil Nadu, MP, Chattisgarh, UP, AP, Delhi, NCR, Gujarath States Maharashtra, Karnataka, MP, Chattisgarh, Delhi, Gujarath FY 13 Revenue 25 Crores FY 13 Revenue 17 Crores Today, Goli Vada Pav is the largest Ethnic QSR (Quick Service Restaurant) player in the domestic segment with over 275 stores in 61 cities and 13 states of the country. Iyer says that a good Indian street food behind the … Goli is a profitable company today and will touch revenue of Rs 45 crore this year. So the franchise took us to those cities and we believe in their knowledge of the local market there. With an initial investment of Rs 1 crore, he started wall-carrying outlets in Mumbai. Ventureast's investment in Goli in August 2011, has aided the company to set up training centres for their staff, putting in place audit and MIS systems, and brand-building exercises. ” That’s when Venkatesh and his colleague Shivadas Menon decided to start their venture which we know today as Goli Vada Pav. Required fields are marked *. In addition, the un-fried version of Vada has been called ‘Goli’ since it was rounded. We first want to see the high streets where people are growing, because Vadapav has to be a part of the culture of the city, it has to be a place where people live day by day – outside their homes, offices and colleges. Venky says all the franchise expansion has happened because people had heard of the pill, eaten it and then wanted to start it in their city. ‘value. The Your email address will not be published. Soon, Goli Vada pav established a credible name that became known for its consistent taste and hygienic snacks. It is also one of the famous vada pav selling chain in India. This page was last edited on 5 November 2020, at 01:12. Barbeque Nation: Today, Goli has a central manufacturing capacity from where vadas are prepared and shipped across the country. It was founded in 2004 as a vada pav restaurant by Venkatesh Iyer. “Standardization and technology have helped us create a model that can help everyone, otherwise if a Delhi-based businessman takes our franchise and has to do local sourcing and production, the price will drop in 6 months. Goli Vada Pav co-founder shares his success story. “We came to a market where there was no competition; No one sold vada pav in Bangalore, Aurangabad, or Nagpur. The next one came as a disappointment as we didn’t expect Maharaja Vada Pav to be this much simple. On the expansion front, Goli Vada Pav has plans to open 100 stores by the year end. ”. ABOUT  NINJACART: Thirukumaran Nagarajan and Vasudevan Chintambi, the founders  Agritech startup as of 2015, has successfully built a technology-enabled supply, 1) FOUNDER OF DREAM11(Harsh jain)OWNER.NETWORTH KNOW ABOUT MORE, GOLI VADA PAV OWNER-NETWORTH,STORY,TURNOVER. Placeholder store name. For example, Nalli saris cannot become Julie series and Murugan idli cannot be called Peter’s idli,” he says. Acquired 350 saw milk booths and at one shot, 350 bullets stores were opened. The brand’s founders, Venkatesh Iyer and Shiv Menon, realised the huge scope of business in tapping the adult and lower income customers by selling widely popular local street food ‘Vada Pav’ to … It all started off with a 200 sq.ft shop in a Mumbai suburb, marketed as an ethnic fast food joint. Stores near you. Venkatesh Iyer, a co-founder of Goli Vada Pav, says his company is planning a massive expansion, with 500 franchise outlets across India in the next five years. Fast Food is something we associate with videshi or foreign cuisine, something not related to Indian cuisine. It should have been a double-decker one, or probably with more interesting filling. Golden Spoon Award-Most Admired Food Chain of Indian Origin, by Coca-Cola. Even if we setup 1,000 of those shops in the next 5 years, we would have a lot of land. Website. “Whatever mass technology needs, and an Idli-Vada series can only happen with technology. “While this approach is worldly, I wanted to retain like desi flavor. Venky claims that many inquiries are being made from overseas, such as Dubai, UAE and the UK, but he feels there is much to be done in India. Venky is also excited about the prospect of building a large-scale brand from other Indian foods, if some technology can be built to take care of wastage, sharpness and standardization. And there is not much ‘bridge’ in it. This is the street-culture of Mumbai, in which there is gossip on Vadapav. There is a huge opportunity in the food space in India. Iyer said that he did not lose hope when his outlets in Mumbai were shut and many cases were registered against him. Today, the Goli sells 70,000 Vada pavas daily, and even the recently opened Kochi outlet has a cash collection of Rs 15,000 per day, claims Venky. But this is no longer an issue, as the supply is done by the center, ”says Venky. Placeholder for address. Goli Vada Pav was founded by Venkatesh Iyer and Shivadas Menon. Goli Vada Pav stores operate under the name of 'Goli Vadapav No.1', Business Opportunity in Ethnic Fast Food Industry – Goli Vadapav No.1 | Case Study | NOVONOUS, Food chain Goli Vada Pav gets ₹21-crore funds from VenturEast, Goli Vada Pav - From Mumbai’s streets on to the business highway, Jubilant Foodworks sweeps the Coca Cola Golden Spoon Awards 2014, "Goli Vada Pav: Mainstreaming Vada Pav across India", "Business Opportunity in Ethnic Fast Food Industry – Goli Vadapav No.1", "CEO of Goli Vada Pav holds four classroom sessions at the ISB", "Food chain Goli Vada Pav gets ₹21-crore funds from VenturEast", https://en.wikipedia.org/w/index.php?title=Goli_Vada_Pav&oldid=987118802, All Wikipedia articles written in Indian English, Creative Commons Attribution-ShareAlike License. The author of the book is the founder of the Goli vadapav chain. He focuses on the key points that helped him build the brand and business - #inspiration #idea #intelligence #exploration & #action. Deep Bajaj, founder PeeBuddy, Rohan Ganpathy, CEO and Director, Bellatrix Aerospace, Ameet Choudhary, Founder, eLaundry, and Venkatesh Iyer, Founder, Goli Vada Pav, gave insights about their … In 2012, eight deals worth $104 million were inked. Venky rationalized this strategy of entering unknown territories by saying that a domino would not sell pizza in Italy or that McDonald’s has moved beyond the US to sell its burgers, as food locally is available everywhere. The journey, however, was not without obstacles. Real estate in Mumbai is expensive and so they consider a novel way to use Aarey milk booths to double as white outlets. goli vada pav owner-networth,story,turnover November 4, 2020 November 4, 2020 admin 0 THE STORY OF ABOUT GOLI VADA PAV BRAND When Venkatesh Iyer co-founded Goli Vada Pav … My Journey with Vadapav by Venkatesh S, answers all these questions and more. 2/ He chose vadapav because of the convenience it offers to make, deliver and eat. [5] Soon enough Goli Vada Pav was set up in over 40 cities with 150 outlet, and is now the 4th biggest fast food company in India. Every eat-out idea — from vada pav to authentic Cantonese — is finding financial takers. It is also the view that Goli has helped aggressively grow to have 277 stores in 61 cities, while other Indian food chains such as Saravana Bhavan and Haldiram still have fewer double-digit stores. With a vision to carve out a niche among the likes of burgers and pizzas of the world, entrepreneur Venkatesh Iyer pioneered Goli Vadapav that is devoted to the humble vadapav. Inspired by his love for Vadapav, one man made it his mission to build, promote, transform and establish a humble street snack into a national brand. But during the crisis, Goli left for Vadapav. Goli Vada Pav, a Mumbai-headquartered Indian ethnic QSR chain ideated around the street-food staple, went through a few burns before it achieved significant scale. Goli Vada Pav is an Indian fast food restaurant chain originated from Mumbai, Maharashtra, India. When I sold my imagination and shared my ideas, the corporates were impressed and I chose them as partners.” The result is a healthier, cheaper, and tasty Mali Vada that retains the desi touch and spicy flavor, ”says Lyer. So I named it Goli, a specific bombaiya slang which means ‘to shower or talk about something’. According to Venkatesh Iyer, CEO and Co-Founder, Goli Vada Pav, as customers’ is innovating and becoming friendly with the digital space, evolution is the way forward for any brand who is looking at a bigger pie of the fast growing Indian food service market. Save my name, email, and website in this browser for the next time I comment. THE STORY OF ABOUT GOLI VADA PAV BRAND. “Startups especially, after winning their survival battle are now increasingly looking at building companies ready for a global leap,” says Venkatesh Iyer – Founder and CEO at Goli Vada Pav. 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