SCRIPTING A SUCCESS STORY: Venkatesh Iyer Like most start ups Goli Vada Pav could not afford expensive media advertising campaigns or branding activities that large corporate engage in. We have been keeping you up-to-date with information on the developments in India and the world that have a bearing on our health and wellbeing, our lives and livelihoods, during these difficult times. The Hindu Explains | What does the Morocco-Israel deal mean for Western Sahara? Goli Vada Pav partnered with Vista Processed Foods, a subsidiary of the US company OSI, one of the world’s largest food processing corporations, which prepares burgers for McDonald’s. 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 The founder of Goli vada pav is Venkatesh Iyer who incorporated his company in 2004.Specialied products : Vada Pav, Sabudana Vada What are the eligibility criteria to open vad pav store ? Goli Vada Pav, a quick serve food concept with Indian touch, originated in Mumbai in 2004. You have reached your limit for free articles this month. “The idea of repackaging the vadapav into a branded product hit me and I wanted it to stand tall amidst burgers, pizzas and fries,” explains Venkatesh Iyer. Venkatesh also plans to add pav bhaji to the menu to serve as an evening or dinner snack. Shivadas Menon. We also reiterate here the promise that our team of reporters, copy editors, fact-checkers, designers, and photographers will deliver quality journalism that stays away from vested interest and political propaganda. The company provides the franchisee with raw materials at nominal rate. Instead, they smartly used their stores as the front end for showcasing the brand, their logo and identity which people started to recognize. This motivated Venkatesh to think about starting his own venture at some point of time. 2. “Our product is sustainable as we have a strong backup. Goli Vada Pav was founded by Venkatesh Iyer. This transformation from a small set up to a large chain was achieved after a long but interesting journey that you will be keen to read about. This will help stores to add more products in addition to the typical vada pav which is a typical breakfast item. The vadas are made in a centralised factory in Mumbai, from where they are put in trucks to various locations. 3. So people like top executives, professionals and businessmen of high profile can have hygienic vada pav without compromising on hygiene, health or ambience. Today, you can get a vada pav from an outlet that is as hygienic as McDonalds or other international fast food chains. The plant is certified for hazard analysis and critical control point, a global standard for food safety, and can prepare 100,000 portions in five hours. This is also a good differentiator because vada pav is generally available on the street or at small outlets where hygiene is not given a high priority. Since the venture was started in Dombivli near Mumbai, the entire capital was sufficient to buy equipment, a van and for a 500 SF kitchen. 7 Questions To Help You Understand The Philosophy Of Mind, How To Write A Screenplay In 12 Easy Steps, © 2020 wisdomtimes.com, All rights reserved. “Though the approach is global, I wanted to keep the local flavour intact. During the conversation his neighbor said “No matter what we do, Indians prefer desi food”. The Story of Goli Vada Pav. This would be the simplest module just like any small chat vendors that we see in most cities and towns. As cities grow big and lives become busier, people are on the look out for quick grabs and leisure dine-ins are reserved for occasions. Likewise, Vadapav is something typical of Mumbai and through 'Goli' we have carried the spirit and flavour of the city all along.”, “Our stores are not more than 100 sq.feet joints as the concept is to offer speedy service. Both of them worked together in the Corporate Financial Services space. Shivadas’ past experience in corporate finance and Venkatesh’s retail franchisee expertise have been a good combination that has taken the company to great heights. Goli Vadapav founder Venkatesh Iyer tells his story of turning Mumbai's humble street food into a national brand It was in 2003 when investment banker Venkatesh Iyer brainstormed a … What started with just a stall has now turned into a massive chain. The company started with a simple product to reach masses, so the scope for huge advertising and promotion activities was limited. “While this approach is worldly, I wanted to retain like desi flavor. Goli Vada Pav, Mumbai-based largest quick service restaurant chain in the domestic segment, has chalked out plan to expand in North and East India. Venkatesh Iyer. It was founded by Venkatesh Iyer and Shivadas Menon in the year 2004. It has helped us keep apace with events and happenings. Have you read these stories? "Company plans to open 100 stores each in the states of Uttar Pradesh and Delhi," founder and chief executive officer (CEO) of Goli Vada Pav Venkatesh Iyer said. It’s a support for truth and fairness in journalism. Moreover, sales of some lunch or dinner items can boost the sales per store and can help in better utilization of capacities and garner higher return on investment. Sridhar is a financial analyst and his work experience spans areas of financial analysis, modeling, valuation and research on companies, specific sectors, etc. Goli Vada Pav is an Indian fast food restaurant chain originated from Mumbai, Maharashtra, India. Venkatesh Iyer and Shivdas Menon, pals for a long time, co-founded Goli Vada Pav in 2004. 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 … Anyone who has visited or lived in Mumbai would have definitely seen or tasted the Vada Pav, which is quick breakfast snack for people on the go. Goli Vada Pav was founded by Venkatesh Iyer. Goli Vada Pav, a Mumbai-based ethnic food chain, was set up in 2004, the founders being Venkatesh Iyer and Shivadas Menon. Venkatesh Iyer, who started this business at the age of 37, Key Takeaways (What we can learn from Goli Vada Pav venture), The man behind ‘Goli Vada Pav’ – Venkatesh Iyer. A large-scale expansion of the outlets had to be abandoned due to the limited popularity of the franchise in Mumbai. Mr. Iyer said Goli Vada Pav made an … In future Goli will also experiment with mini kiosks with just 75 SF of space selling only vada pavs with one staff. Venkatesh Iyer is the founder of Goli Vada Pav. When Venkatesh Iyer co-founded Goli Vada Pav with Shiv Menon in 2004, he saw a big opportunity in selling affordable, clean, ethnic fast food to lower-income customers in India. “We plan to add another 50 outlets this year. It was indeed a crazy, crazy idea that Venkatesh Iyer and Shrivadas Menon embarked upon! We promise to deliver quality journalism that stays away from vested interest and political propaganda. His partner Shivdas Menon was an old colleague and friend who joined hands with Venkatesh in this venture. In 1995 Venkatesh had a a casual conversation with his neighbor, who was the CEO of Kellogs India. Mr Venkatesh, now chief executive, saw a potential market of 500m mostly teenage and young adult Indians paying Rs10 (about 20 US 20 years of experience in corporate consultancy, franchising chain and retail chain models Key responsibilities: Business strategies & shaping the vision of brand Goli . Vada Pav is also sometimes referred to as the Indian version of the burger, and is … Shared by Venky Iyer #NextGlobalLeaders arrived in #India: the land of Culture, Diversity, Rich history and Spices. Now, we have started an app for franchisees, which is like a digital academy where we train personnels on customer service and brand uniformity. The chain opened in 2004 with quickly expanding and opening up various outlets. Our Vadas can be shipped to any place in the world” Mr. Venkatesh said. Sridhar is an MBA graduate with Finance major from Maharishi Institute of Management. Each location has a Goli Kitchen, which will have a cold room for storage where vadas are stored before they are distributed to the respective Goli stores across the country. Apart from keeping a keen eye on the graph of the turnover, I also take time to travel thrice a month to various cities, meet people and share my story.” Business institutions like Indian School of Business, International Institute for Management Development, Switzerland, Harvard and CNBC have done case studies on Goli, which has also bagged the Golden Spoon Award-Most Admired Food Chain of Indian Origin,by Coca Cola.   | Photo Credit: Venkatesh Iyer, MD & CEO-Goli Vadapav shares the mantra to his entrepreneurial success with students at Welingkar Institute of Management Development and Research. As we fight disinformation and misinformation, and keep apace with the happenings, we need to commit greater resources to news gathering operations. My mantra to success has been 'plan, do and check', says Iyer., who has written a book 'My journey with Vadapav', that's part of curriculum in many business schools. However, since the types of foods, tastes and other factors were diverse across India, this required some more thought and research. For Venkatesh Iyer of Goli Vada Pav, a Mumbai-based fast food chain, this ubiquitous desi snack is the Amitabh Bachchan of fast food. Goli Vada Pav is an Indian ethnic fast food restaurant which was originated from Mumbai, Maharastra. Anuj Chopra Jan 16, 2011 If you want to know personal and education eligibility criteria,then there is no such restriction.The only thing they demand your working desire and dedication. "Company plans to open 100 stores each in the states of Uttar Pradesh and Delhi," founder and chief executive officer (CEO) of Goli Vada Pav Venkatesh Iyer said. We are also planning outlets overseas. Goli Vada Pav has ambitious plans to expand the store count by another one hundred to two hundred stores across new states and cities in India. It was in 2003 when investment banker Venkatesh Iyer brainstormed a business idea over a glass of chai and Vadapav in hand. For instance in case of Bangalore stores the pav is sourced from vendors such as ITC in Bangalore. Most inventions happen with one small idea, accident, or an attempt to solve a problem or rectify a mistake. Key ingredients such as potatoes, oil and wheat are purchased for 100 stores in bulk, while the remaining perishable ingredients are sourced locally according to the demand requirement. However, we have a request for those who can afford to subscribe: please do. The shrewd businessman brought in operations, supply chain, franchise and funding into the thela and India's biggest fast food chain was born. *Our Digital Subscription plans do not currently include the e-paper, crossword and print. That's why I gave the name Goli, a typical Bombaiyya slang that means 'ranting or chatting over something'. Venkatesh Iyer was in Madurai to deliver talks to members of Young Indians and Women Entrepreneurs. The pav or bread is sourced locally, because it is perishable, and customers would like to have it fresh. 15 years of experience in corporate finance Key responsibilities: Funds, … Vada Pav is also sometimes referred to as the Indian version of the burger, and is popularity due to its taste and convenience. Updated: Nov 12, 2020, 10.44 AM IST. Watch | Features of the new Parliament building, Crossword blog #198 | An elephantine memory for giant records, ‘Your Honor’ review: Bryan Cranston’s masterclass doesn’t quite paper over the cracks, Now, explore Kaziranga on boats and bicycles, All about the Geminid meteor shower that is set to light up the sky on December 13. The first outlet of the business was started in Kalyan, Mumbai, as a small outlet selling vada pav. Iyer, who has a sacrosanct pecking order of passions—vada pav, Goli Vada Pav and unravelling consumer psychology—is convinced that the young, urban Indian might be brand-conscious, but they would prefer pav over an Indianised burger version any day. A select list of articles that match your interests and tastes. That's how we grew the width of the business. History. The first stint with retail businesses happened at this firm where he provided consulting services to retailers to raise funds for their business ventures. 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. The first outlet was set up in Kalyan, a suburban locality in Mumbai. Vada pavs are prepared in a hands-free plant and frozen before they get transported by company-owned reefer vans to various locations. 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. As a subscriber, you are not only a beneficiary of our work but also its enabler. India records 47,905 new COVID-19 infections. The Goli vada pav is the first machine-made vada pav that is standardized and boasts of a longer shelf life. Products include varieties of Vada Pavs, Vada Rolls, Curry Pavs, Sides, Beverages and Desserts. On the app, we have designed syllabus for man, money and product management.”. Being in sync with the theme of this year - Emergence of Desi Power - Venkatesh Iyer, Founder, Goli Vada Pav was invited to share his story with Nagpurians. Today Goli Vadapav has 300-plus stores across 100 cities and 20 states in India. At this difficult time, it becomes even more important that we have access to information that has a bearing on our health and well-being, our lives, and livelihoods. To enable wide dissemination of news that is in public interest, we have increased the number of articles that can be read free, and extended free trial periods. With over 300 outlets in the entire country, the company is continuously growing. This is not another fast food vendor, but a highly organized set up with strong supply chain, hygienic kitchen and equipment, which maintains high quality and scalability. “Our vadas are manufactured in hands-free high-end technology by the same American companies that make McDonald's patties. Special Arrangement. Moreover, as more and more customers liked the product, the word started spreading across various localities bringing in more demand. After looking at various options he zeroed in on two options – the idli and vada pav. Launched in 2004 by Venkatesh Iyer & Shrivadas Menon, Goli Vada Pav has made a name for itself since then in Maharashtra. This requires new models and strategies, and one of them is to have franchisees in select locations or markets to leverage and expand the brand. The result is hygienic, affordable and avant garde vadas that retain the desi touch and spicy taste,” says Iyer. In addition we can also take a leaf out of their strategies in terms of product differentiation, branding and various other aspects of business, that most start-ups and entrepreneurial ventures face. Enjoy reading as many articles as you wish without any limitations. In addition on special events such as Ganesh Chaturti, the company made a huge vada pav base over which Ganesha idol and the event was called “Goli Ganapati”. At this point, Venkatesh Iyer received an offer from an acquaintance to set up an outlet in the city of Nashikin Maharashtra. When Venkatesh Iyer co-founded Goli Vada Pav with Shiv Menon in 2004, he saw a big opportunity in selling affordable, clean, ethnic fast food to lower-income customers in India. Lets hear about the future plans from the founder himself. VADA PAV ADVENTURES 2. The book tells the story of a daring and unusual entrepreneurial venture. He started Goli Vada with a dream to make vada pav pride of the nation and started a fast-food restaurant chain which is specialized in vada pav in 2004. Given the high inflationary environment getting a reliable source of vegetables and other ingredients at reasonable prices is a big challenge. they believed that the humble Vada Pav could stand tall among the burgers and pizzas of the world. The Hindu has always stood for journalism that is in the public interest. We brief you on the latest and most important developments, three times a day. The vada pav was the final choice, and in January 2003 Goli Vada Pav and its business plan were ready. The alternate strategy was to use online channels such as Facebook, Twitter, etc to promote the brand and their products. Although he was passionate to start his venture, he was still not sure of which venture to get in to. You can support quality journalism by turning off ad blocker or purchase a subscription for unlimited access to The Hindu. “Though I was born and brought up in the Maximum City, I never really paid attention to the poor man selling Vadapav by the roadside. The story. Vadapav is a meal in itself and can fit into your diet at any time of the day,” observes Iyer, who has introduced region-specific flavours in the menu. Total coronavirus active cases stand at 4,89,294 after a decrease of 5,363 in the last 24 hours. Subscribe to The Hindu now and get unlimited access. The first successful interplanetary mission, ‘A Promised Land’ review: The audacity of hope. An eclectic mix of vadapavs (below Rs.50), vada rolls (below Rs.75) and curry pavs (below Rs.100) are offered at Goli stores. But brand identification is crucial. Vada Pao Presentation 1. The venture known as ‘Goli Vada Pav’ started with an investment of Rs.1 crore with capital from friends and family members. We have over 50 stores in UP alone. Goli Vada Pav’s profit margins are largely insulated by the economics of bulk purchasing. Goli Vada Pav contains 300 stores across 20 states in India. Our revenue target for the next five years is Rs 180 crore, and presence expanded to 500 outlets. Goli aims to make vada pav a brand 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. Goli Vada Pav has brought in a revolution of enabling a Mc Donald kind of model possible in the ethnic fast food space. When I sold my imagination and shared my ideas, corporates were impressed and I roped them in as partners. The Hindu Explains | Why does the J&K government want the High Court to reconsider its ruling on Roshni Act? When Venkatesh Iyer co-founded Goli Vada Pav with Shiv Menon in 2004, he saw a big opportunity in selling affordable, clean, ethnic fast food to lower-income customers in India. The process was also more hygienic given the automated preparation by machines which avoids manual handling of food and packaging. When Venkatesh Iyer co-founded Goli Vada Pav with Shiv Menon in 2004, he saw a big opportunity in selling affordable, clean, ethnic fast food to lower-income customers in India.