Success Story and Business Model of Oye Delhi Oye – Revenue Model, Turnover, Valuation
One of the biggest rumors about this company is that they are based in New Delhi but, it is a Mumbai-based restaurant chain. The restaurant might be situated in Mumbai but, you get foods that taste exactly from Delhi or New Delhi. If you are from Delhi and is stuck in Mumbai for any job, home shifting, shifts, school, colleges, and many more then Oye Delhi Oye would be your most visited place.
Delhi has always been known to be the best street or fast food seller in India. People across the nation believe you get the best street and fast from in Delhi. Interestingly, you have unique and flavorful restaurant chains coming up every month and year.
Slowly the flavors of Delhi are spreading in all major cities in India. Today, you can get your favorite “chole bhatura” even in Kolkata, Chennai, and Mumbai. Access to getting your city-based food has become a lot easier in today’s 21st Century. In the upcoming days this accessibility will be much easier for people who love nothing but, the food from their respective state or region. Similarly, we have Oye Delhi Oye serving the taste of Delhi foods to consumers in Mumbai.
Oye Delhi Oye Startup Story
Not all successful stories face simple and easy journeys, there are many that need to be brushed and worked upon. Similarly, opening a fast food restaurant business in a country like India might be easy but, they face a high risk. Opening a fast-food restaurant while keeping health factors in mind is surely not an easy task. People do love visiting fast food restaurants but, never think about their health.
If you plan to visit Oye Delhi Oye you will get nothing but authenticity from the restaurant. Oye Delhi Oye first started during the COVID-19 lockdown. Both founders started this business by putting in their own money. The company did see some major growth during its initial days but, it was a slow one. As people had no income source and did not want to buy from outside restaurants, especially during the pandemic lockdown.
Both Shehal and Kaushal are the owners of this business. These people had some unique ideas in their minds especially related to “Chola Bhatura”. They brought this concept from North India and are spreading the taste all over Matunga and Mumbai. Snehal is from Pancham Puriwala background family. His family asked him to start his venture and stand on his feet.
Now, before the pandemic lockdown, both Snehal and Kaushal used to visit Delhi for various purposes. During their visit to Delhi, they used to sit down for the famous “Chole Bhatura” on the streets or in a restaurant. Now, during this phase of their life, a new idea of opening a restaurant chain came up. Both the founders and managers thought of coming up with a restaurant specializing in “Chole Bhatura” in their hometown Mumbai. The problem they faced was Mumbai did not serve the same Chole Bhatura as Delhi so, both the founders thought of opening a new venture in their hometown.
Oye Delhi Oye on Shark Tank
Oye Delhi Oye increased their branding and recognition after making their appearance in the first season of Shark Tank India. Both the founders of the show were seen pitching to the famous sharks sitting before them. People slowly started recognizing the company and started visiting Oye Delhi Oye.
Oye Delhi Oye made a special entry before their pitch to all the sharks present there. They all were seen happy and dancing around all of them related to their business venture Oye Delhi Oye. Both Snehal and Kaushal stood before the sharks and started explaining what their business was.
Before that, both the founders offered their special food “Chole Bhatura” to all the sharks present there. Snehal started speaking of the USP of its products. He told the sharks that all the Indian food products have a fusion with Mexico. This unique idea came from his grandmother’s food business, Pancham Puriwala.
They also had another fusion with Indo-Western culture. The customers appreciated this fusion so much that they complained about why there were not available in their city. So, now the main plan for Oye Delhi Oye was to expand in all the major cities across the country.
The ask from both the founders to all the sharks was Rs 35 lakhs for 10% of the company’s equity. But, things did not go as the founders planned them to be. There were many gaps that the sharks found while they asked questions to both the founders of Oye Delhi Oye.
First things first, all the sharks who were presented with Oye Delhi Oye’s food product just appreciated them. They even revealed the taste of the food presented to them tasted better than any “Chole Bhatura” restaurant in Delhi. So, one huge appreciation was for the food product sold by Oye Delhi Oye. The special recipe of “Chole Bhature” is taught by Snehal’s grandmother.
Now, the huge gap found by sharks was that the sales of this company were quite low. It was just below the expectation of all the sharks who were present. Within eight months Oye Delhi Oye made sales of Rs 11 lakhs and the previous month they made a sale of Rs 1.5 lakhs. So, this is where sharks present in the show did not have a trust to spend any rupee on this company because there was no solid growth seen.
Turnover of Oye Delhi Oye
As this restaurant was started during lockdown so the overall sales and revenue generation were quite low. Additionally, the business did not target the right customers at the right place and that is why they saw less solidity and growth.
The turnover within eight months of Oye Delhi Oye was Rs 11 lakhs. Additionally, both founders revealed that they are expecting the turnover to increase by Rs 3 crore within the next three years.
Oye Delhi Oye Profit Margin
Profit is something every business looks upon and so does Oye Delhi Oye. Initially, Oye Delhi Oye did not see a good profit rate or margin because of the dangerous pandemic. Slowly, the growth and expansion of their business started happening after the lockdown was uplifted and businesses started running.
Oye Delhi Oye has not revealed the profit margin but, the average profit margin of any such restaurant in Mumbai is between 15-25%. Additionally, both the founders have revealed on Shark Tank India that, within the next few years the per-store revenue generation would be Rs 60 lakh or more.
Oye Delhi Oye Valuation
The total valuation of Oye Delhi is estimated to be more than Rs 3.5 crore. This is because the restaurant company has opened up lots of franchises and outlets across the city.
Every day this company is gaining a huge customer base and earring good revenue at the end of the month. Moreover, during their presence on Shark Tank India the company valuation was Rs 3.5 crore.
Founders of Oye Delhi Oye
The founders of Oye Delhi Oye are highly motivated and energetic. Both of them are always willing to do something new and innovative. The founders and managers of Oye Delhi Oye are Kaushal Soni and Snehan Shirwadkar.
Disclaimer: The information provided in this post is for general informational purposes only and does not constitute professional advice. Please consult a qualified professional before making any decisions based on this content.
