Initial Struggles to Make Goli Vada Pav Brand: Every successful business establishment has a struggling story behind it. Similarly, many of us might have had a vada pav from Goli but, not many of us will know the struggling story or days of this amazing brand. Goli Vada Pav was founded by Venkatesh Iyer and Shiv Menon back in 2004. Both of these owners saw a huge food opportunity where selling affordable, clean, and quality fast food could make a good business.
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Initially, after the establishment of this business, the handmade patties degraded their quality. Additionally, the steep rise in raw material back in 2004 put another pressure to the first outlet that was opened. People gave bad reviews to the patties because of their short shelf life and some were found pilfered. But, to this problem, the owners came up with a brilliant solution which we will discuss later.
Goli Vada Pav Brand Details
|Goli Vada Pav
|Quick Service Restaurants
Goli Vada Pav Outlets
As mentioned earlier, this brand did not stay long in the struggling phase. Very soon the owners of the company found out the solution and worked on it and the rising phase started for the company and the owners. Very soon due to their quality and budget food products, people from different parts of the area started coming.
Yes within one decade the company was running so well that it had to open so many stores across the country. It has been 19 years since the first Goli Vada Pav store was opened in Mumbai and today, they have already opened up 300 stores. Yes, you heard it right this brand has opened up 300 stores which are in over 100 cities across the nation. It surely is a proud moment for the founders of this amazing brand.
Goli Vada Pav Revenue and Net Worth
By looking at the number of stores opened by this amazing Vada pav company we can guess that the revenue and net worth of this company would be a huge amount. The company earns heavily just by selling its primary product which is vada pav.
Interestingly, the operating revenue of this brand is between Rs 1-100 crore. Yes, not many established businesses can achieve such a big amount. On the other hand, the net worth in percentage is estimated to be 889.99%.
Goli Vada Pav Pav Success Story
After the brand was struggling during its initial days, it was Venkatesh Prasad focused on the brand name and outsourced many supply chains and operations. He approached his friend for frozen vegetables and chicken patties and got them from him. On the other hand, he got in touch with engineers and installed automated fryer machines in their outlets.
They also got funding from financers which further helped them to scale up their business. Due to the expensive land values and other factors, Mr Venkatesh targeted the second-tier city and slowly the business was changing. Slowly, this brand got high brand awareness with the help of local media.
By now, this company already hired 75 members and everything was running smoothly and amazingly. They opened up more stores and sold thousands of vada pavs every day from each store.
Goli Vada Pav Interview
The owners of this amazing brand has given thousands of interviews to the youth and other businessmen. Goli Vada Pav was also taken as a Harvard Case study for the students who are studying business at this top university. The only moral that we get from the owners of Goli Vada Pav is to never lose hope and always work on the solution.