ELI - 351 | Vikesh Shah (Founder of 99 Pancakes - QSR Chain)
Entrepreneur Lounge of India (ELI)
English - July 10, 2023 16:16 - 27 minutes - 38.3 MBEntrepreneurship Business Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
About the spokesperson: https://www.linkedin.com/in/vikesh-shah-253a67204/
Vikesh Shah is the founder of 99 Pancakes, a QSR (Quick Service Restaurant) chain.
Shah started his career in the food business at a young age, working in a bakery and learning about food business and manufacturing.
After the bakery he was working in shut down, Shah started his own home-based bakery business, focusing on catering supplies and B2B orders for weddings and corporate events.
In 2017, Shah launched 99 Pancakes as a retail brand, introducing pancakes as a dessert concept in India.
Shah believes that pancakes have the potential to become popular in the Indian market due to the increasing aspirational values and openness to try new things. He aims to create a unique and visually appealing product that stands out in the market.
The idea for launching 99 Pancakes as a retail brand came during the time of demonetization in India when many wholesale businesses were affected, prompting Vikesh Shah to tap into the retail sector.
Shah's experience in the dessert industry and his knowledge of the Indian market helped him identify pancakes as a product with potential. He believed that by creating a visually appealing product with great taste and affordable pricing, pancakes could become a long-lasting and popular item in India.
The name "99 Pancakes" was chosen for its simplicity and association with value pricing. The number 99 signifies the pricing strategy used by the brand for certain promotions and special days.
Shah's journey as an entrepreneur has had its ups and downs, including financial challenges. However, he emphasizes the importance of having a strong team, respecting and trusting your people, and being prepared for losses and difficult times.
Despite initial challenges, 99 Pancakes gradually gained acceptance and popularity among customers. Shah expanded the menu to include cakes, desserts, coffees, and even pizzas, and transitioned to larger experience stores to provide a better ambiance for customers. The franchise model and private placements helped in securing funding for the brand's growth.
#EntrepreneurshipJourney #PancakeRevolution #99Pancakes #IndianMarketTrends #TeamStrengths #RetailSuccess #ValuePricing #DessertIndustry #UpsAndDowns #AmbitiousExpansion #FranchiseGrowth #FinancialChallenges